1000210869 Ontario Inc. has been in receivership since August 5, 2025, with MNP Ltd. appointed receiver on the application of the Business Development Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act in the Ontario Superior Court of Justice. The Bank claimed $899,473.45 as at May 15, 2025 under Term Loan No. 23496301, exclusive of further accrued interest, fees, disbursements and costs, with interest running at $138.52 per diem, following a demand that expired February 24, 2025. Its security includes a first-ranking mortgage over the Property with principal of $1,125,000.00, a notice of assignment of rents and a general security agreement, supported by guarantees from 195 Inc. and Chiro Powerbed Inc., each backed by its own GSA, and personal guarantees from Lingeswaran Somasundaram and Ali Asghar Asadi Ghiasvand limited to 25% of the balance at the demand date. A tax certificate dated May 9, 2025 shows City of Cornwall municipal tax arrears of $67,572.21 ranking ahead of the Bank's mortgage. The proceeding is active.
The court granted an approval and vesting order for the sale to 16165311 Canada Inc. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions. Sealed: confidential appendix 'D' containing the Sales Agreement.
Source: Approval and Vesting Order
Placed the company into court-appointed receivership under BIA s. 243 and provincial Judicature Act authority, the order pronounced on Tuesday, the 5th day of August, 2025.
Source: Receivership Order
Debtor
1000210869 Ontario Inc.
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Mew | Ontario Superior Court of Justice | 1 order, Jul 2026 | 7 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Soloway Wright LLP | 28 Jul 2026 | Order · 28 Jul 2026 |
| ApplicantBusiness Development Bank of Canada | Soloway Wright LLP | 5 Aug 2025 | Order · 5 Aug 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Business Development Bank of Canada · in 251 casesFirst-ranking mortgage (principal $1,125,000.00) over the Property; notice of assignment of rents; general security agreement over Debtor's assets; guarantees of 195 Inc. and Chiro Powerbed Inc. (each supported by GSA); personal guarantees of Lingeswaran Somasundaram and Ali Asghar Asadi Ghiasvand for 25% of outstanding balance at demand — Term Loan No. 23496301; amount exclusive of further accrued interest, fees, disbursements and costs; interest accruing at $138.52 per diem; demand expired February 24, 2025; personal guarantees are from directors/officers of the Debtor (related parties) limi · as of 15 May 2025 | $899K | Compendium of the Applicant |
| Secured |
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See all plansThis proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Sale approved — Approving the transaction contemplated by the Sales Agreement and vesting the Purchased Assets in the PurchaserAncillary Order · 28 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 16165311 Canada Inc.all of the Debtor's right, title and interest in and to the assets described in the Sales Agreement · asset sale · agreement 27 Apr 2026 | Subscribers | Approved28 Jul 2026 | Ancillary Order |
| Date | Document | File |
|---|---|---|
Ancillary Order
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Application Record | PDF · Subscribers | |
Compendium of the Applicant
| PDF · Subscribers | |
| Receivership Application | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “1000210869 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/1000210869-ontario-inc
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/1000210869-ontario-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.