#Order
Court Order of Justice Derstine dated November 26, 2025 (Ancillary and Discharge Order) — Discharge order
10603503 Canada Inc., 11393251 Canada Inc. and 11393235 Canada Inc.
FollowClosed
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- CV-24-00000236-0000
Filings held12
Last activity26 Nov 2025
On the record670 days
Secured debt$245K
OverviewSummary updated
The receivership under Ontario Superior Court of Justice file CV-24-00000236-0000 was opened by a receivership order made on November 20, 2024, on the court's bankruptcy and insolvency side. The proceeding is recorded as closed. The record identifies no further steps.
Proceedings AIAsk this case — answers cite the filings
Case updates12 dated entries
#Sale
Court Order of Justice Derstine dated November 26, 2025 (Kepler Transaction AVO) — Approval and vesting order
#Sale
Court Order of Justice Derstine dated November 26, 2025 (Patel Transaction AVO) — Approval and vesting order
#Report
First Report of the Receiver (for motion returnable November 26, 2025) — Court officer report
#Filing
Motion Record of the Receiver (for motion returnable November 26, 2025) — Application / notice of application
#Report
Supplemental Report to the First Report of the Receiver (for motion returnable November 26, 2025) — Court officer report
#Order
Order made Wednesday, November 20, 2024 placed the debtor in court-appointed receivership, commencing the Ontario proceeding under court file CV-24-00000236-0000.
Source: Court Order of Justice Bloom dated November 20, 2024 (Appointment Order)
#Filing
Application Record of Kindred Credit Union (for motion returnable November 20, 2024) — Application / notice of application
#Filing
Book of Authorities of Kindred Credit Union (for motion returnable November 20, 2024) — Application / notice of application
Parties
Debtor
File Documents
Receiver
Albert Gelman
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Derstine | Ontario Superior Court of Justice | 2 orders, Nov 2025 | 3 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlbert Gelman | Spetter Zeitz Klaiman Pc | 26 Nov 2025 | Order · 26 Nov 2025 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesas of HST Notice of Assessment for taxation period January 1 to November 20, 2024 — Deemed trust (HST) claim — Deemed trust class; Receiver advises Kindred Mortgages (advanced/registered before this taxation period) rank in priority to CRA on this HST Debt; no distribution to CRA expected given anticipated Kindred shortfall — debtor: 11393251 Canada Inc. | $4.55K | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | Kindred Credit Union Limited (Receiver's Borrowings) · in 2 casesas of November 12, 2025 (date of First Report) — Receiver's Borrowings Charge on the Property under paragraph 21 of the Appointment Order, ranking ahead of all other interests except the Receiver's Charge — Court-ordered super-priority charge securing Receiver's Certificates issued to Kindred (Dec 5, 2024; Feb 11, 2025; Jul 2, 2025) to fund receivership; cap of $250,000 principal — debtor: 10603503 Canada Inc., 11393251 Canada Inc. and 11393235 Canada Inc. | $245K | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | City of Owen Sound · in 2 casesMunicipal property tax arrears (statutory lien) on 942-944 2nd Avenue East Property — Per tax certificate; Receiver has ordered updated tax certificates and figure may change — debtor: 11393251 Canada Inc. · as of 2 Dec 2024 | $47.3K | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | City of Owen Sound · in 2 casesMunicipal property tax arrears (statutory lien) on 950-956 2nd Avenue East Property — Per tax certificate; Receiver has ordered updated tax certificates and figure may change — debtor: 10603503 Canada Inc. · as of 2 Dec 2024 | $41.9K | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | City of Owen Sound · in 2 casesMunicipal property tax arrears (statutory lien) on 948 2nd Avenue East Property — Per tax certificate; Receiver has ordered updated tax certificates and figure may change — debtor: 11393235 Canada Inc. · as of 2 Dec 2024 | $16.7K | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | 2391628 Ontario Inc. (also referred to as 2391628 Ontario Ltd.)Third mortgage on 948 2nd Avenue East Property, registered face value $879,375 — Registered face value only, not a balance; Subsequent Mortgagee; no legal opinion obtained — debtor: 11393235 Canada Inc. | — | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | Kindred Credit Union Limited · in 2 casesPPSA (Ontario) financing statement registered Oct 29, 2021 (blanket registration) — Separate PPSA general security registration in addition to mortgage security; no distinct balance stated — debtor: 10603503 Canada Inc. | — | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | Royal Bank of Canada · in 556 casesPPSA (Ontario) financing statement registered Feb 28, 2019 (blanket registration) — PPSA search conducted Nov 5, 2024 (file currency Nov 4, 2024); no balance stated — debtor: 10603503 Canada Inc. | — | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | Christina KerrSecond mortgage on 942-944 2nd Avenue East Property, registered face value $250,000 — Registered face value only, not an outstanding balance; a Subsequent Mortgagee; Receiver has not obtained a legal opinion on this security given anticipated Kindred shortfall — debtor: 11393251 Canada Inc. | — | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | 2391628 Ontario Inc.Third mortgage on 950-956 2nd Avenue East Property, registered face value $879,375 — Registered face value only, not a balance; Subsequent Mortgagee; no legal opinion obtained — debtor: 10603503 Canada Inc. | — | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | Oswald Emmanuel Real Estate Inc.Second mortgage on 950-956 2nd Avenue East Property, registered face value $350,000 — Registered face value only, not a balance; Subsequent Mortgagee; no legal opinion obtained — debtor: 10603503 Canada Inc. | — | First Report of the Receiver (for motion returnable November 26, 2025) |
| 4 | Secured | Maes Holdings Inc.Fourth mortgage on 950-956 2nd Avenue East Property, registered face value $600,000 — Registered face value only, not a balance; Subsequent Mortgagee; no legal opinion obtained — debtor: 10603503 Canada Inc. | — | First Report of the Receiver (for motion returnable November 26, 2025) |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
This 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.
RecoveriesAs stated in the filings
Closed · the record states no distribution outcome.
Documents
12 filings
| Date | Document | File |
|---|---|---|
Court Order of Justice Derstine dated November 26, 2025 (Ancillary and Discharge Order)
| ||
| Court Order of Justice Derstine dated November 26, 2025 (Kepler Transaction AVO) | ||
| Court Order of Justice Derstine dated November 26, 2025 (Patel Transaction AVO) | ||
Endorsement of Justice Derstine dated November 26, 2025
| ||
| Factum of the Receiver (for motion returnable November 26, 2025) | ||
First Report of the Receiver (for motion returnable November 26, 2025)
| ||
| Motion Record of the Receiver (for motion returnable November 26, 2025) | ||
| Supplemental Report to the First Report of the Receiver (for motion returnable November 26, 2025) | ||
| Application Record of Kindred Credit Union (for motion returnable November 20, 2024) | ||
| Book of Authorities of Kindred Credit Union (for motion returnable November 20, 2024) | ||
Court Order of Justice Bloom dated November 20, 2024 (Appointment Order)
| ||
| Factum of Kindred Credit Union (for motion returnable November 20, 2024) | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “10603503 Canada Inc., 11393251 Canada Inc. and 11393235 Canada Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/10603503-canada-inc-11393251-canada-inc-and-11393235-canada-inc