11517945 Canada Inc. was placed in court-appointed receivership on February 12, 2026 by order of the Ontario Superior Court of Justice (In Bankruptcy and Insolvency), under Court File No. CV-26-00063916-0000. The proceeding is brought under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The receivership remains active. The record to date consists of the appointment itself; no further steps have been reported.
The court granted an approval and vesting order for the sale to Royal Living Development Group Inc. Closing terms, as extracted: Vesting occurs upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of closing conditions. Sealed: Confidential Appendices to the First Report.
Source: Approval and Vesting order
Supplement to the Receiver's First Report: the Mewburn property was sold to Royal Living with title vesting in RLD Group, and a pro-rata protocol is proposed for the remaining unit buyer deposits.
Source: Supplemental Report to Court
Receivership order granted Thursday, February 12, 2026, commencing the proceeding against 11517945 Canada Inc. in the Ontario Superior Court of Justice.
Source: Receivership Order
Meridian Credit Union Limited issued its notice of application on January 21, 2026 for the appointment of BDO Canada Limited as receiver and manager, court file CV-26-00063916-0000.
Source: Application Record
Guide
What happens to your deposit if your builder goes bankrupt in Canada
When a Canadian builder goes bankrupt or into receivership, buyers of condos, new homes and presales have paid deposits that may be in trust, insured or already spent. How Tarion, deposit insurance and the trust rules work in Ontario, British Columbia, Alberta and Québec, what a receiver can do with your purchase agreement, and how deposits come back, drawn from the court record.
Case update
Mewburn Towns: what is left of 27 buyers' deposits
BDO Canada's sealed-price sale of a stalled 28-townhome project in Niagara Falls, which the receiver says leaves Meridian Credit Union short on a $9,191,463.39 claim, takes none of the 27 buyers' purchase agreements with it; an August 31 supplement proposes they share what remains of $1,980,487 in deposits, about 9.88% each by the receiver's draft accounting, before claiming from Tarion.
Debtor
11517945 Canada Inc.
Receiver
BDO
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Meridian Credit Union Limited · in 20 casesFirst ranking mortgage over Mewburn Property in principal amount of $14,500,000; demand loan facility to maximum $9,900,000; standby letters of credit facility to maximum $1,081,495 (also stated as $1,018,495 in security opinion) — Obligations including costs, fees and interest charges to Aug 9, 2026 total approximately $9,191,463.39, per diem $1,841.40, per Meridian payout statement (Appendix V); security opinion confirmed by Loopstra Nixon as valid and enforceable mortgage, subject to standard assumptions/qualifications — debtor: 11517945 Canada Inc. · as of 9 Aug 2026 | $9.19M | Motion Record of BDO Canada Limited |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) |
6 more claims in 2 classes The stack holds Secured and Preferred (BIA s. 136) 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.
Approval pending — Purchase Agreement was only conditional upon the Court issuing an approval and vesting order; Receiver requests Court issue the approval and vesting order in the name of RLD Group (Niagara Falls) Inc.Supplemental Report to Court · 31 Aug 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Royal Living Development Group Inc.the real property known municipally known as 2700 Mewburn Road, Niagara Falls, Ontario ... and other assets described in the Sale Agreement (the "Purchased Assets") · real property · nominee/assignee: RLD Group (Niagara Falls) Inc. · agreement 3 Jul 2026 | not stated | Approved15 Sep 2026 | Approval and Vesting order |
Meridian Credit Union Limited: shortfall.Motion Record of BDO Canada Limited · 17 Aug 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Meridian Credit Union Limited | — | shortfall | per the receiver | Motion Record of BDO Canada Limited · 17 Aug 2026 |
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.
2 engagements · 2 firms — latest: Loopstra Nixon, 11 Feb – 13 Aug 2026Motion Record of BDO Canada Limited · 17 Aug 2026
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BDO Canada LimitedReceiver | 15 Jan – 31 Jul 2026Sought | 4 people | First Report to Court · 17 Aug 2026 | ||||||||||||||||||||||||||||||||
4 people — BDO Canada Limited, 15 Jan – 31 Jul 2026 · 15 blurred figures
| |||||||||||||||||||||||||||||||||||
| Loopstra NixonCounsel | 11 Feb – 13 Aug 2026 | — | Motion Record of BDO Canada Limited · 17 Aug 2026 | ||||||||||||||||||||||||||||||||
20 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 plansCumulative receipts
$391K
As at 17 Aug 2026First Report to Court
Cumulative disbursements
As at
Professional fees
As at
2 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Administrative Order
| PDF · Subscribers | |
Approval and Vesting order
| PDF · Subscribers | |
Supplemental Report to Court
| PDF · Subscribers | |
First Report to Court
| PDF · Subscribers | |
Motion Record of BDO Canada Limited
| PDF · Subscribers | |
| Update to Unit Buyers | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Application Record
| 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., “11517945 Canada Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/11517945-canada-inc
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/11517945-canada-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.