Sale and Investment Solicitation Process (SISP)

Learn what a SISP is in Canadian real estate and finance — how court-monitored sales processes help resolve distressed asset situations.

Sale and Investment Solicitation Process (SISP)

June 09, 2025


What is a Sale and Investment Solicitation Process (SISP)?

A Sale and Investment Solicitation Process (SISP) is a formal court-supervised method of marketing, selling, or refinancing distressed assets during insolvency or restructuring proceedings.

Why a Sale and Investment Solicitation Process Matters in Real Estate

In Canadian commercial real estate and corporate finance, a SISP ensures transparency and fairness when creditors seek recovery through asset disposition.



A SISP typically includes:
  • Marketing the asset to potential buyers/investors
  • Establishing bid deadlines and terms
  • Evaluating offers with court oversight
  • Facilitating asset sale, investment, or restructuring



It may be initiated under the Companies’ Creditors Arrangement Act (CCAA) or Bankruptcy and Insolvency Act (BIA).



Understanding SISP is essential for investors, lenders, and professionals navigating distressed asset acquisitions.

Example of a SISP in Action

Following a retailer’s insolvency, the court approves a SISP to evaluate bids for its owned distribution centre and leasehold interests.

Key Takeaways

  • Court-approved process to market and sell assets
  • Ensures fairness in insolvency situations
  • Used in real estate and corporate restructuring
  • Attracts buyers and investors to distressed assets
  • Common in CCAA and BIA proceedings

Related Terms

Additional Terms

Recourse Loan

A recourse loan is a type of loan where the lender can pursue the borrower’s personal assets, beyond the collateral, in the event of default.. more

Pari Passu

A pari passu clause is a contractual provision ensuring that multiple creditors share equally in repayment priority from the borrower’s assets.. more

Non-Recourse Loan

A non-recourse loan is a type of loan where the lender’s only remedy in case of default is to seize the collateral property; the borrower is not. more

Net Operating Income

Net operating income (NOI) is the total income generated by a property after operating expenses are deducted but before taxes and financing costs.. more

Mechanic's Lien

A mechanic’s lien is a legal claim by a contractor, subcontractor, or supplier for unpaid work or materials provided for a property.. more

Lis Pendens

Lis pendens is a legal notice filed in the land registry indicating that a property is subject to ongoing litigation that may affect its title.. more

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