1001 Broadview
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-20-00643617-00CL
- Industry
- Real estate · Residential development
1001 Broadview Avenue Inc. has been under the court-appointed receivership of BDO Canada Limited since May 4, 2021, on the application of its first mortgagee, Centurion Mortgage Capital Corporation, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. BDO acts as receiver and manager. The proceeding is before the Ontario Superior Court of Justice (Commercial List) under court file CV-20-00643617-00CL and remains active. Centurion's claim was $8,067,628.87 as at July 1, 2020 per a mortgage statement dated July 6, 2020, secured by first mortgage AT5041028 registered in the amount of $44,000,000, a first-ranking general security agreement and general assignment of rents dated December 20, 2018, and a personal guarantee from director Khashayar Khavari. A $5,000,000 second mortgage held by related party 1001 Broadview Investment Inc. is postponed to Centurion under a subordination and standstill agreement and restrained by a March 9, 2020 consent order of Justice Gilmore, with beneficial ownership disputed in related litigation.
The court granted an approval and vesting order. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of closing conditions.
Source: Approval and Vesting Order - BDO Canada Limited - 14-May-2021-signed Dietrich J
Opened the receivership matter in Ontario on court file CV-20-00643617-00CL; the application is the only step recorded in the proceeding to date.
The officer filed report no. Third Report. The Receiver is winding down a failed sale transaction after the purchaser repeatedly defaulted on closing despite multiple extensions, and is seeking to terminate the agreement, forfeit deposits, and distribute proceeds to the secured creditor.
The court granted an approval and vesting order. Closing terms, as extracted: vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions.
Source: Issued and Entered Order of Justice Dietrich re: Approval and Vesting Order
The officer filed report no. Second Report. The Receiver secured and maintained the derelict, non-operating development property, obtained appraisals and listings, and negotiated and executed a sale agreement for the Property, which remains in pre-construction with no employees or sales.
Debtor
1001 Broadview
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dietrich | Ontario Superior Court of Justice | 3 orders, Oct 2020 – May 2021 | 94 cases on record |
| Justice Koehnen | Ontario Superior Court of Justice | 2 orders, Mar 2021 | 83 cases on record |
| Justice Gilmore | Ontario Superior Court of Justice | 2 orders, Mar 2020 – Jul 2020 | 68 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | Robins Appleby LLP | 20 Oct 2020 | Order · 11 Mar 2021 |
| Applicant | Robins Appleby LLP | 21 Jul 2020 | Order · 21 Jul 2020 |
| Debtor1001 Broadview | Adair Goldblatt Bieber LLP | 9 Mar 2020 | Order · 9 Mar 2020 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Centurion Mortgage Capital Corporation · in 5 casesFirst registered mortgage/charge instrument AT5041028 (registered amount $44,000,000); first-ranking General Security Agreement dated December 20, 2018; General Assignment of Rents (AT5041029); PPSA registration 20181217 1132 1590 5862 — Amount per Mortgage Statement dated July 6, 2020 (exact dated balance); Vavaroutsos Affidavit states 'in excess of $8,067,628.87 as at July 1, 2020, together with accruing interest and costs'; excludes protective disbursements/legal fees not yet added. Also secured by absolute and unconditional personal guarantee from Khashayar Khavari (director/sole officer o · as of 1 Jul 2020 | $8.07M | 1 st report of the receiver dated July 10, 2020 |
| Secured |
1 more claim in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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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.
3 transactions · 2 proposed · 1 not completed — the Transaction is hereby approvedApproval and Vesting Order - BDO Canada Limited - 14-May-2021-signed… · 14 May 2021
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2774179 Ontario Inc.the Property · real property · agreement 23 Sep 2020 | Subscribers | Proposed | 2nd report of the Receiver dated October 2020 |
| 102568 P.E.I Inc.the Property municipally known as 995-1001, 1003 & 1005 Broadview Avenue, Toronto, Ontario and 2 & 4 Mortimer Avenue, Toronto, Ontario · real property · agreement 23 Sep 2020 | Subscribers | Not completeddate not stated | 3rd report of the Receiver dated March 2, 2021 |
| Mirshams Mousavithe Property · real property · agreement 9 Apr 2021 | Subscribers | Proposedoutside 26 Mar 2021 | 4th report of the Receiver dated May 4, 2021 |
Centurion Mortgage Capital Corporation: a distribution.Motion Record - BDO Canada Limited - 03-March-2021 · 3 Mar 2021
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Centurion Mortgage Capital Corporation | — | a distributioninterim | — | Motion Record - BDO Canada Limited - 03-March-2021 · 3 Mar 2021 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
7 engagements · 2 firms — latest: BDO Canada Limited, 26 Feb – 30 Apr 2021, in fees4th report of the Receiver · 4 May 2021
| Firm | Period | Hours | Fees | Rates | Source | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BDO Canada LimitedReceiverperiod 3 of 3 | 26 Feb – 30 Apr 2021 | 4 people | 4th report of the Receiver · 4 May 2021 | |||||||||||||||||||||||||||||||||||||
4 people — BDO Canada Limited, 26 Feb – 30 Apr 2021 · 16 blurred figures
| ||||||||||||||||||||||||||||||||||||||||
| BDO Canada LimitedReceiverperiod 2 of 3 | the Billing Period | Motion Record - BDO Canada Limited - 03-March-2021 · 3 Mar 2021 | ||||||||||||||||||||||||||||||||||||||
| BDO Canada LimitedReceiverperiod 1 of 3 | Billing Period | 2nd report of the Receiver · 9 Oct 2020 | ||||||||||||||||||||||||||||||||||||||
| Robins Appleby LLPCounsel to the receiverperiod 4 of 4 | 18 Feb – 30 Apr 2021 | 4 people | Motion Record - BDO Canada Limited - 04-May-2021 · 4 May 2021 | |||||||||||||||||||||||||||||||||||||
| Robins Appleby LLPCounsel to the receiverperiod 3 of 4 | 1 Oct 2020 – 26 Feb 2021 | Motion Record - BDO Canada Limited - 03-March-2021 · 3 Mar 2021 | ||||||||||||||||||||||||||||||||||||||
| Robins Appleby LLPCounsel to the receiverperiod 1 of 4 | to 30 Sep 2020 | 2nd report of the Receiver · 9 Oct 2020 | ||||||||||||||||||||||||||||||||||||||
| Robins Appleby LLPCounsel to the receiverperiod 1 of 4 | Billing Period | 3rd report of the Receiver · 2 Mar 2021 | ||||||||||||||||||||||||||||||||||||||
49 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plansCash on hand
$890K
As at 2 Mar 20213rd report of the Receiver dated March 2, 2021
Professional fees
As at
1 more reported figure
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
2022-03-02-Issued Order of Justice Kimmel
| PDF · Subscribers | |
Administration and Interim Distribution Order - BDO Canada Limited - 14-May-2021-signed Dietrich J
| PDF · Subscribers | |
Approval and Vesting Order - BDO Canada Limited - 14-May-2021-signed Dietrich J
| PDF · Subscribers | |
4th report of the Receiver dated May 4, 2021
| PDF · Subscribers | |
Motion Record - BDO Canada Limited - 04-May-2021
| PDF · Subscribers | |
Court Order
| PDF · Subscribers | |
Entered Order Approving Interim Distribution
| PDF · Subscribers | |
Motion Record - BDO Canada Limited - 03-March-2021
| PDF · Subscribers | |
3rd report of the Receiver dated March 2, 2021
| PDF · Subscribers | |
Issued and Entered Order of Justice Dietrich re: Administration and Interim Distribution
| PDF · Subscribers | |
Issued and Entered Order of Justice Dietrich re: Approval and Vesting Order
| PDF · Subscribers | |
2nd report of the Receiver dated October 2020
| PDF · Subscribers | |
Receivership Appointment Order
| PDF · Subscribers | |
1 st report of the receiver dated July 10, 2020
| PDF · Subscribers | |
Application Record
| PDF · Subscribers | |
Gilmore Order
| 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., “1001 Broadview” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/1001-broadview