12252856 Canada Inc.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-22-00691528-00CL
- Industry
- Real estate
12252856 Canada Inc. is in court-appointed receivership. The Ontario Superior Court of Justice (Commercial List) appointed RSM Canada Limited as receiver on February 28, 2023, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, on the application of MarshallZehr Group Inc., as Administrator (court file CV-22-00691528-00CL). The proceeding is active. Registered charges against the property included MarshallZehr Group Inc.'s first mortgage of CAD 20,000,000.00, 12279266 Canada Inc. at CAD 9,000,000.00, Consortia Equity Capital Limited at CAD 5,500,000.00, Bridlepath Finance Inc. at CAD 1,000,000.00 and Marilyn Goldberg at CAD 500,000.00. Prime Design Build Corporation registered a construction lien of CAD 391,141.00.
The court granted an approval and vesting order for the sale to MarshallZehr Capital Partners Inc. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price, satisfaction/waiver of Closing conditions, and completion of the Transaction.
The officer filed report no. Supplement to the Third Report of the Receiver.
Source: Supplement to the Third Report of the Receiver dated December 29, 2023
Motion Record of the Receiver returnable December 12, 2023 — Application / notice of application
The officer filed report no. Second Report. The Receiver is proceeding with a court-approved sale process for the Property but has encountered interference: the Debtor's principal listed the Property for sale independently on MLS, and the Debtor and its director have refused to comply with orders to provide books, records and due diligence materials.
Further Supplementary Motion Record returnable July 27, 2023 — Application / notice of application
Supplementary Motion Record of the Receiver dated June 15, 2023 — Application / notice of application
The Ontario Superior Court of Justice granted the receivership order appointing RSM Canada Limited, dated February 28, 2023.
Source: Order of Justice Osborne dated February 28, 2023 (Appointing Receiver)
MarshallZehr Group Inc. issued its notice of application on December 9, 2022, seeking the appointment of a receiver over 12252856 Canada Inc.
Debtor
12252856 Canada Inc.
Receiver
RSM Canada
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 4 orders, Jan 2024 – Feb 2024 | 318 cases on record |
| Justice Osborne | Ontario Superior Court of Justice | 4 orders, Dec 2022 – Nov 2023 | 168 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Jul 2023 – Dec 2023 | 245 cases on record |
| Justice Kimmel | Ontario Superior Court of Justice | 2 orders, Jun 2023 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverRSM Canada | Chaitons LLP | 16 Jun 2023 | Order · 16 Jun 2023 |
| Applicant | Chaitons LLP | 28 Feb 2023 | Order · 28 Feb 2023 |
| CreditorBridlepath Finance Inc | Speigel Nichols Fox LLP | 28 Jul 2023 | Endorsement · 28 Jul 2023 |
| CreditorOntario Inc., Masood Wahab Professional | Solmon Rothbart Tourgis Slodovnick LLP | 28 Jul 2023 | Endorsement · 28 Jul 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | MarshallZehr Group Inc. (together with Vector Financial Services Limited) · in 19 casesFirst registered charge/mortgage (principal amount $20,000,000) and general security agreement in favour of MZ as administrator — MZ is Applicant/first mortgagee; amount is registered principal per title search and List of Creditors, not a stated outstanding balance — debtor: 12252856 Canada Inc. · as of 20 Oct 2020 | $20M | First Report of the Receiver dated May 30, 2023 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured |
6 more claims in 2 classes The stack holds Secured and Unsecured 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 — Receiver sought approval of the sale to the MZ Purchaser, opposed by the Ali AffidavitSupplement to the Third Report of the Receiver dated December 29, 2023 · 29 Dec 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| MarshallZehr Capital Partners Inc.the Debtor's right, title and interest in and to the Purchased Assets · asset sale · agreement 26 Oct 2023 | not stated | Approved5 Jan 2024 | Approval and Vesting Order dated January 5, 2024 |
MarshallZehr: shortfall.EstimatedSupplement to the Third Report of the Receiver · 29 Dec 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | MarshallZehr | short by conditional | Estimatedper the receiver | Supplement to the Third Report of the Receiver · 29 Dec 2023 |
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 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Endorsement of Justice Cavanagh dated February 16, 2024
| PDF · Subscribers | |
Ancillary Relief Order dated January 5, 2024
| PDF · Subscribers | |
Approval and Vesting Order dated January 5, 2024
| PDF · Subscribers | |
Endorsement of Justice Cavanagh dated January 5, 2024
| PDF · Subscribers | |
Supplement to the Third Report of the Receiver dated December 29, 2023
| PDF · Subscribers | |
| Affidavit of Mir Ali dated December 22, 2023 | PDF · Subscribers | |
| Factum of the Respondents dated December 22, 2023 | PDF · Subscribers | |
| Service List dated December 21, 2023 | PDF · Subscribers | |
Endorsement of Justice Steele dated December 12, 2023
| PDF · Subscribers | |
Motion Record of the Receiver returnable December 12, 2023
| PDF · Subscribers | |
Third Report of the Receiver dated November 20, 2023
| PDF · Subscribers | |
Endorsement of Justice Osborne dated November 1, 2023
| PDF · Subscribers | |
Endorsement of Justice Steele dated July 28, 2023
| PDF · Subscribers | |
Further Supplementary Motion Record returnable July 27, 2023
| PDF · Subscribers | |
Second Report of the Receiver dated July 7, 2023
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated June 16, 2023
| PDF · Subscribers | |
Sale Process Approval Order dated June 16, 2023
| PDF · Subscribers | |
| Supplementary Motion Record of the Receiver dated June 15, 2023 | PDF · Subscribers | |
| Responding Motion Record of the Debtor dated June 13, 2023 | PDF · Subscribers | |
First Report of the Receiver dated May 30, 2023
| PDF · Subscribers | |
Endorsement of Justice Osborne dated February 28, 2023
| PDF · Subscribers | |
Order of Justice Osborne dated February 28, 2023 (Appointing Receiver)
| PDF · Subscribers | |
Endorsement of Justice Osborne dated December 21, 2022
| PDF · Subscribers | |
Application Record returnable December 21, 2022
| 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., “12252856 Canada Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/12252856-canada-inc