12870428 Canada Inc. et al.
Follow- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CV-25-00750706-00CL
12870428 Canada Inc., together with 15223873 Canada Inc., 15224705 Canada Inc. and 15224721 Canada Inc., was placed in court-appointed receivership under section 243 of the BIA effective November 4, 2025. The Receiver's First Report puts total known creditors across the four debtors at $1,999,960.16, comprising secured debt owed to Royal Bank of Canada of $1,579,376.13 and unsecured claims of $420,584.03; potential priority claims for roughly six weeks of unpaid employee wages and for CRA indebtedness are recorded as unknown and excluded from that figure. RBC holds general security agreements and chattel mortgages from each debtor registered under the Ontario PPSA and is the only registered secured creditor; certain obligations were personally guaranteed by directors V. Kakkar and A. Chaman. The Receiver, working with limited unaudited information and non-cooperative management, states no total asset figure and has a security opinion pending from Gowling.
Supplemental Report to the Second Report of the Receiver dated July 7, 2026 — Court officer report
15 earlier updates, back to 2 September 2025 — subscribers.
Debtor
12870428 Canada Inc. et al.
Receiver
KPMG
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Myers | Ontario Superior Court of Justice | 4 orders, Nov 2025 – Jul 2026 | 103 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 2 orders, Jan 2026 | 89 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Debtor12870428 Canada Inc. et al. | Chhina Law | 6 Nov 2025 | Service list · 6 Nov 2025 |
| CreditorCalloway REIT (Cobourg) Inc., Landlord to 12870428 Canada Inc | Camelino Galessiere LLP | 6 Nov 2025 | Service list · 6 Nov 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesDeemed-trust priority claim for employee source deductions and HST. RBC states it 'still has no clarity from the Debtors as to what amounts are owing ... for priority amounts to CRA for employee source deductions and HST' - amount unknown/unstated, not zero. — debtor: 12870428 Canada Inc., 15223873 Canada Inc., 15224705 Canada Inc., 15224721 Canada Inc. (all Debtors) | — | Application Record dated September 10, 2025 Part 1 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: no recovery. Canada Revenue Agency a distribution · Royal Bank of Canada a distribution.EstimatedMotion Record · 18 Jun 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trustCRA (Pre-Filing Source Deductions, 428) | Canada Revenue Agency | — | a distribution | Estimatedper the receiver | Supplemental Report to the Second Report of the Receiver · 12 Jun 2026 |
| Secured | Royal Bank of Canada | — | a distributionfinalconditional | per the receiver | Motion Record · 18 Jun 2026 |
| Unsecured | the Debtors' other creditors | — | no recovery | Estimatedper the receiver | Motion Record · 18 Jun 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.
3 engagements · 1 firm — latest: KPMG Inc., 1 Mar – 30 Apr 2026Second Report of the Receiver · 18 Jun 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| KPMG Inc.Receiverperiod 2 of 3 | 1 Mar – 30 Apr 2026 | — | — | — | Second Report of the Receiver · 18 Jun 2026 |
| KPMG Inc.Receiverperiod 1 of 3 | 1 Jan – 28 Feb 2026 | — | — | — | Second Report of the Receiver · 18 Jun 2026 |
| KPMG Inc.Receiverperiod 1 of 3 | — | — | — | — | Motion Record · 19 Jun 2026 |
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
Approval, Distribution and Discharge Order dated July 8, 2026
| PDF · Subscribers | |
Endorsement of Justice Myers dated July 8, 2026
| PDF · Subscribers | |
Supplemental Report to the Second Report of the Receiver dated July 7, 2026
| PDF · Subscribers | |
Supplementary Motion Record of the Receiver dated July 7, 2026
| PDF · Subscribers | |
| Factum of the Receiver dated June 22, 2026 | PDF · Subscribers | |
Motion Record dated June 19, 2026
| PDF · Subscribers | |
Second Report of the Receiver dated June 18, 2026
| PDF · Subscribers | |
Ancillary and Sealing Order dated January 7, 2026
| PDF · Subscribers | |
Approval and Vesting Order dated January 7, 2026
| PDF · Subscribers | |
Endorsement of Justice Dietrich dated January 7, 2026
| PDF · Subscribers | |
Motion Record dated January 7, 2026
| PDF · Subscribers | |
First Report of the Receiver dated December 22, 2025
| PDF · Subscribers | |
| Notice and Statement of the Receiver dated November 14, 2025 | PDF · Subscribers | |
Service list as at November 6, 2025
| PDF · Subscribers | |
Appointment Order dated November 4, 2025
| PDF · Subscribers | |
Endorsement of Justice Myers dated November 4, 2025
| PDF · Subscribers | |
Application Record dated September 10, 2025 Part 1
| PDF · Subscribers | |
Application Record dated September 10, 2025 Part 2
| 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., “12870428 Canada Inc. et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 20 September 2026, https://proceedings.ca/case/12870428-canada-inc-et-al