Proceedings.

12870428 Canada Inc. et al.

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Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Court
Ontario Superior Court of Justice · Commercial List
File
CV-25-00750706-00CL
Filings held18
Last activity8 Jul 2026
On the record384 days
OverviewSummary updated

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.

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Case updates18 dated entries

15 earlier updates, back to 2 September 2025 subscribers.

Parties

Debtor

12870428 Canada Inc. et al.

Receiver

KPMG

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice MyersOntario Superior Court of Justice4 orders, Nov 2025 – Jul 2026103 cases on record
Justice DietrichOntario Superior Court of Justice2 orders, Jan 202689 cases on record

Counsel of record

PartyCounselFirst seenSource
Debtor12870428 Canada Inc. et al.Chhina Law6 Nov 2025Service list · 6 Nov 2025
CreditorCalloway REIT (Cobourg) Inc., Landlord to 12870428 Canada IncCamelino Galessiere LLP6 Nov 2025Service list · 6 Nov 2025
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
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.

5 more claims across lower-ranking classesSubscribe to view
RecoveriesAs stated in the filings

Unsecured creditors: no recovery. Canada Revenue Agency a distribution · Royal Bank of Canada a distribution.EstimatedMotion Record · 18 Jun 2026

ClassCreditorClaimsRecoveryBasisSource
Deemed trustCRA (Pre-Filing Source Deductions, 428)Canada Revenue Agencya distributionEstimatedper the receiverSupplemental Report to the Second Report of the Receiver · 12 Jun 2026
SecuredRoyal Bank of Canadaa distributionfinalconditionalper the receiverMotion Record · 18 Jun 2026
Unsecuredthe Debtors' other creditorsno recoveryEstimatedper the receiverMotion 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.

2 stated figures across 3 outcomes, each sourcedSubscribe to view
Fees and ratesAs stated in the filings

3 engagements · 1 firmlatest: KPMG Inc., 1 Mar – 30 Apr 2026Second Report of the Receiver · 18 Jun 2026

FirmPeriodHoursFeesRatesSource
KPMG Inc.Receiverperiod 2 of 31 Mar – 30 Apr 2026Second Report of the Receiver · 18 Jun 2026
KPMG Inc.Receiverperiod 1 of 31 Jan – 28 Feb 2026Second Report of the Receiver · 18 Jun 2026
KPMG Inc.Receiverperiod 1 of 3Motion Record · 19 Jun 2026
2 stated figures across 3 engagements, each sourcedSubscribe to view
Estate financialsReported figures — never derived

The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers

Documents
18 filings
DateDocumentFile
Approval, Distribution and Discharge Order dated July 8, 2026
  • Presiding officer Justice Myers
PDF · Subscribers
Endorsement of Justice Myers dated July 8, 2026
  • Presiding officer Justice Myers
PDF · Subscribers
Supplemental Report to the Second Report of the Receiver dated July 7, 2026
  • Recovery outcome Entries: per unstated; per estimated · Stated on: 2026-06-12 · Table missing:
PDF · Subscribers
Supplementary Motion Record of the Receiver dated July 7, 2026
  • Recovery outcome Entries: per unstated · Stated on: 2026-06-18 · Table missing:
PDF · Subscribers
Factum of the Receiver dated June 22, 2026PDF · Subscribers
Motion Record dated June 19, 2026
  • Recovery outcome Entries: per estimated; per estimated; per unstated · Stated on: 2026-06-18 · Table missing:
  • Fee schedule Subscribers
PDF · Subscribers
Second Report of the Receiver dated June 18, 2026
  • Recovery outcome Entries: per actual · Stated on: 2026-06-18 · Table missing:
  • Fee schedule Subscribers
PDF · Subscribers
Ancillary and Sealing Order dated January 7, 2026
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Approval and Vesting Order dated January 7, 2026
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Endorsement of Justice Dietrich dated January 7, 2026
  • Presiding officer Justice Dietrich
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, 2025PDF · Subscribers
Service list as at November 6, 2025
  • Counsel Chhina Law
PDF · Subscribers
Appointment Order dated November 4, 2025
  • Presiding officer Justice F.L. Myers
PDF · Subscribers
Endorsement of Justice Myers dated November 4, 2025
  • Presiding officer Justice Myers
PDF · Subscribers
Application Record dated September 10, 2025 Part 1
PDF · Subscribers
Application Record dated September 10, 2025 Part 2
  • Commencement date 2 September 2025
  • Court SUPERIOR COURT OF JUSTICE
  • Court file no CV-25-00750706-00CL
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

Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/12870428-canada-inc-et-al

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.