#Filing
A further application in the receivership was filed on 10 November 2025.
Source: Second Motion Record
1073650 Ontario Inc. et al.
FollowActive
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- 33-165775
Filings held13
Last activity10 Nov 2025
On the record712 days
Secured debt$5.7M
OverviewSummary updated
1073650 Ontario Inc. et al. are in a court-appointed receivership commenced on 9 October 2024 in the Ontario Superior Court of Justice, with MNP Ltd. as receiver on the application of Heliotrope Investment Corporation, under subsections 245(1) and 246(1) of the Act. Secured claims stated include $5,702,785 and $4,701,443 held by the majority creditors, and the largest unsecured claims stated are $600,000 to Ben Chalmers and $491,945.96 to Canadian Western Trust. The proceeding is carried on court files 33-165775 and 33-165834.
Proceedings AIAsk this case — answers cite the filings
Case updates15 dated entries
#Order
Interim order granted on the day the receivership commenced, opening the Ontario Superior Court proceeding under file number 33-165775.
Source: October 9, 2025 - Order
#Order
An interim order was granted on the commencement date, opening the receivership file in the Ontario Superior Court of Justice under file number 33-165775.
Source: October 9, 2025 - Order
#Order
Interim order granted, commencing the receivership proceeding against 2290998 Ontario Inc. in the Ontario Superior Court of Justice under court file 33-165775.
Source: October 9, 2025 - Order
#Filing
A second section 245 notice of intention to enforce security bears the same date, 28 February 2024.
#Report
A report of the receiver records the receivership order dated 16 February 2024.
Source: First Report
Parties
Debtor
1073650 Ontario Inc.
Debtor
1324789 Ontario Inc.
Debtor
2290998 Ontario Inc.
Receiver
MNP
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hackland | Ontario Superior Court of Justice | 3 orders, Feb 2024 – Oct 2025 | 8 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Ostroff Law | 9 Sep 2024 | Application · 9 Sep 2024 |
| CreditorBenjamin Chalmers | Professional Corporation | 9 Sep 2024 | Application · 9 Sep 2024 |
| CreditorRichard Paukstaitus | Little & Bonham LLP | 9 Sep 2024 | Application · 9 Sep 2024 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) · in 926 casesas of Receivership Order date, February 16, 2024 — Deemed trust/priority claim - unremitted HST collected by 107 ONT to date of Receivership; per CRA letter to the Receiver dated May 7, 2024 (Appendix 18 of First Report). Not secured by registered security but ranks as a priority claim. — debtor: 1073650 Ontario Inc. (107 ONT) | $49.2K | Second Motion Record |
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesas of date of the Receivership — Unremitted HST collected to the date of the Receivership; deemed trust claim, priority ahead of secured creditors — debtor: 1073650 Ontario Inc. | $49.2K | Second Motion Record |
| 4 | Secured | Majority CreditorsSecured loan(s) — Per Receiver's review of Companies' limited books and records (Second Report); distinct figure from the earlier combined approximate $4,701,443 Indebtedness reported as of Feb 6, 2024 — debtor: 1324789 Ontario Inc. | $5.7M | Second Motion Record |
| 4 | Secured | Heliotrope Investment Corporation, Magenta Waterfront Development Corporation, and Canadian Western Trust (the "Majority Creditors")Various mortgages, cost awards and promissory notes (the "Security") described in the Receivership Application Record — Approximate combined obligation ("the Indebtedness") as reported in the Application Record dated February 6, 2024; component/derivative figures reported later differ (see other entries) - not summed per reporting rule — debtor: 1073650 Ontario Inc., 1324789 Ontario Inc., 2290998 Ontario Inc. and the Bankrupts (M. Beach and G. Beach), jointly · as of 6 Feb 2024 | $4.7M | Second Motion Record |
| 4 | Secured | Majority Creditors (Heliotrope Investment Corporation, Magenta Waterfront Development Corporation, Canadian Western Trust, and related Magenta lending entities)Various mortgages, cost awards and promissory notes over 132 ONT and 229 ONT properties; mortgages personally guaranteed by Martha Beach and Gary Beach — Stated as approximate ('total approximately') per Receivership Application Record dated Feb 6, 2024; compare to later per-entity book-recorded secured loan figures reported in Second Report (para 58) which are higher/differently scoped; personal guarantors: Martha Beach, Gary Beach. — debtor: 1073650 Ontario Inc., 1324789 Ontario Inc., 2290998 Ontario Inc. and Martha Beach / Gary Beach (joint obligors) · as of 6 Feb 2024 | $4.7M | Second Motion Record |
| 4 | Secured | Various creditors (aggregate, per books and records)as of Second Report dated November 7, 2025 — Secured loans per Companies' books and records, in favour of various creditors — Book-recorded aggregate (para 58(c)); differs from the sum of individually claimed mortgages listed against 229 ONT (Paukstaitis, Marks, McGee, Chambers, Lexxassist) - amounts not reconciled by the document. — debtor: 2290998 Ontario Inc. (229 ONT) | $1.12M | Second Motion Record |
| 4 | Secured | Various creditors (unspecified aggregate per Companies' books)Secured loan(s) — Aggregate secured loan figure per Companies' books and records; differs from itemized mortgage claims (Paukstaitis, Marks, McGee, Chambers, Lexxassist) listed elsewhere - not summed per reporting rule — debtor: 2290998 Ontario Inc. | $1.12M | Second Motion Record |
| 4 | Secured | Richard Vaidotas PaukstaitisFirst mortgage — Approximate amount plus costs and interest; independent legal opinion dated October 29, 2025 confirms this mortgage security is valid and enforceable (page 37) — debtor: 2290998 Ontario Inc. | $739K | Second Motion Record |
| 4 | Secured | Jack McGeeMortgage — Claimed approximate amount; McGee has failed to file a supporting proof of claim despite Receiver's requests (page 37) — debtor: 2290998 Ontario Inc. | $475K | Second Motion Record |
| 4 | Secured | Majority CreditorsSecured loan(s) — Per Receiver's review of Companies' limited books and records (Second Report) — debtor: 1073650 Ontario Inc. | $424K | Second Motion Record |
| 4 | Secured | Benjamin ChambersMortgage — Claimed approximate amount — debtor: 2290998 Ontario Inc. | $170K | Second Motion Record |
| 4 | Secured | Lexxassist Management Inc.Mortgage — Claimed approximate amount, for legal fees — debtor: 2290998 Ontario Inc. | $150K | Second Motion Record |
| 4 | Secured | Bruce MarksMortgage (face amount) — Face amount of mortgage; for legal fees and costs as assessed — debtor: 2290998 Ontario Inc. | $100K | Second Motion Record |
| 8 | Unsecured | Ben Chalmersdebtor: 2290998 Ontario Inc. | $600K | Notice of the Statement of the Receiver |
| 8 | Unsecured | Canadian Western Trust · in 2 casesas of receivership taking possession date (2024-02-28) — Same creditor also holds secured claim of $1,855,366.00 — debtor: 1324789 Ontario Inc. | $492K | Notice of the Statement of the Receiver |
| 8 | Unsecured | Heliotrope Investment Corporationas of receivership taking possession date (2024-02-28) — Related party; also holds secured claim of $400,000.00 — debtor: 1324789 Ontario Inc. | $310K | Notice of the Statement of the Receiver |
| 8 | Unsecured | Jack McGeedebtor: 2290998 Ontario Inc. | $200K | Notice of the Statement of the Receiver |
| 8 | Unsecured | Hammond LLPdebtor: 2290998 Ontario Inc. | $118K | Notice of the Statement of the Receiver |
| 8 | Unsecured | Canadian Western Trust · in 2 casesdebtor: 2290998 Ontario Inc. | $10K | Notice of the Statement of the Receiver |
| 8 | Unsecured | Magenta Mortgage Corporation - Perth Office · in 2 casesDespite 'Mortgage' in name, classified as unsecured by the document. — debtor: 1073650 Ontario Inc. | $10K | Notice of the Statement of the Receiver |
| 8 | Unsecured | Magenta Mortgage Corporation - Perth Office · in 2 casesas of receivership taking possession date (2024-02-28) — Same creditor also holds secured claim of $700,000.00 — debtor: 1324789 Ontario Inc. | $1 | Notice of the Statement of the Receiver |
| 8 | Unsecured | Various accounts payablesas of receivership taking possession date (2024-02-28) — Aggregate figure; no individual creditors named — debtor: 1324789 Ontario Inc. | $1 | Notice of the Statement of the Receiver |
| 8 | Unsecured | CRA - Tax - Ontario · in 252 casesDeemed trust class (CRA) — debtor: 2290998 Ontario Inc. | $1 | Notice of the Statement of the Receiver |
| 8 | Unsecured | Various Trade Accounts Payable · in 2 casesAggregated trade payables, no individual names given — debtor: 2290998 Ontario Inc. | $1 | Notice of the Statement of the Receiver |
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
Unsecured creditors: not yet estimated.Second Motion Record · 10 Nov 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | Magenta group creditors | — | not yet estimatedconditional | per the trustee | Second Motion Record · 10 Nov 2025 |
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.
Documents
13 filings
| Date | Document | File |
|---|---|---|
Second Motion Record
| ||
October 9, 2025 - Order
| ||
Order
| ||
| Factum | ||
Motion Record
| ||
| Receivership Certificate | ||
| Receivership Certificate | ||
| Receivership Certificate | ||
| Notice of the Statement of the Receiver A second section 245 notice of intention to enforce security bears the same date, 28 February 2024. | ||
Notice of the Statement of the Receiver
| ||
| Notice of the Statement of the Receiver A notice of intention to enforce security under section 245 was given on 28 February 2024. | ||
Appointment Order
| ||
First Report
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “1073650 Ontario Inc. et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/1073650-ontario-inc