12252856 Canada Inc.
Follow- 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
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 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
Further Supplementary Motion Record returnable July 27, 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.
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
TDB Restructuring
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Osborne | Ontario Superior Court of Justice | 4 orders, Dec 2022 – Nov 2023 | 146 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Jan 2024 – Feb 2024 | 288 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Jul 2023 – Dec 2023 | 220 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| 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 | 12279266 Canada Inc.Registered charge/mortgage — Amount is registered charge principal — debtor: 12252856 Canada Inc. · as of 26 Aug 2022 | $9M | First Report of the Receiver dated May 30, 2023 |
| 4 | Secured | Consortia Equity Capital LimitedRegistered charge/mortgage — Amount is registered charge principal per title search dated Nov 29, 2022 and List of Creditors — debtor: 12252856 Canada Inc. · as of 13 Nov 2020 | $5.5M | First Report of the Receiver dated May 30, 2023 |
| 4 | Secured | Bridlepath Finance Inc.Registered charge/mortgage; postponed to Consortia Equity Capital Limited charge — Amount is registered charge principal — debtor: 12252856 Canada Inc. · as of 12 Nov 2021 | $1M | First Report of the Receiver dated May 30, 2023 |
| 4 | Secured | Marilyn GoldbergRegistered charge/mortgage; postponed to Consortia Equity Capital Limited charge — Amount is registered charge principal; individual creditor — debtor: 12252856 Canada Inc. · as of 13 Jul 2022 | $500K | First Report of the Receiver dated May 30, 2023 |
| 4 | Secured | Prime Design Build CorporationConstruction lien registered against Property — List of Creditors shows $391,142; title search/registration shows $391,141; used registered instrument amount — debtor: 12252856 Canada Inc. · as of 29 Aug 2022 | $391K | First Report of the Receiver dated May 30, 2023 |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesDocument does not state an amount or name individual unsecured creditors; status listed as 'to be determined' — debtor: 12252856 Canada Inc. · as of 10 Mar 2023 | — | First Report of the Receiver dated May 30, 2023 |
“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.
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: short by $1.62M.EstimatedSupplement to the Third Report of the Receiver · 29 Dec 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | MarshallZehr | $26.1M | short by $1.62Mconditional | 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.
Professional fees to date
$162K
As at 29 Dec 2023Supplement to the Third Report of the Receiver dated December 29, 2023
| Date | Document | File |
|---|---|---|
Endorsement of Justice Cavanagh dated February 16, 2024
| ||
| Ancillary Relief Order dated January 5, 2024 | ||
Approval and Vesting Order dated January 5, 2024
| ||
Endorsement of Justice Cavanagh dated January 5, 2024
| ||
Supplement to the Third Report of the Receiver dated December 29, 2023
| ||
| Affidavit of Mir Ali dated December 22, 2023 | ||
| Factum of the Respondents dated December 22, 2023 | ||
| Service List dated December 21, 2023 | ||
Endorsement of Justice Steele dated December 12, 2023
| ||
Motion Record of the Receiver returnable December 12, 2023
| ||
Third Report of the Receiver dated November 20, 2023
| ||
Endorsement of Justice Osborne dated November 1, 2023
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Endorsement of Justice Steele dated July 28, 2023
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| Further Supplementary Motion Record returnable July 27, 2023 | ||
Second Report of the Receiver dated July 7, 2023
| ||
Endorsement of Justice Kimmel dated June 16, 2023
| ||
Sale Process Approval Order dated June 16, 2023
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| Supplementary Motion Record of the Receiver dated June 15, 2023 | ||
| Responding Motion Record of the Debtor dated June 13, 2023 | ||
First Report of the Receiver dated May 30, 2023
| ||
Endorsement of Justice Osborne dated February 28, 2023
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Order of Justice Osborne dated February 28, 2023 (Appointing Receiver)
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Application Record returnable December 21, 2022
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Endorsement of Justice Osborne dated December 21, 2022
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “12252856 Canada Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/12252856-canada-inc