1613935 Ontario Inc.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3, as amended; and section 101 of the Courts of Justice Act, RSO 1990, c. C.43, as amended
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CL-26-00000263-0000
- Industry
- Real estate · Residential development
1613935 Ontario Inc. has been under court-appointed receivership under BIA s. 243 since July 16, 2026, in the Ontario Superior Court of Justice (In Bankruptcy and Insolvency) on file CL-26-00000263-0000. Its real property carries four registered charges. Ducimus Capital Inc. holds a first-ranking charge registered January 22, 2019 and reported $30,834,984.79 owing as at May 27, 2026 on a loan that advanced $28,323,104 under a December 13, 2018 commitment letter amended 14 times, with a principal balance of $28,480,340 at its September 7, 2025 maturity; the loan is guaranteed by three corporate and four personal guarantors. The Corporation of the Town of Ajax claims municipal tax arrears of $1,777,944.03 as at June 30, 2026 across five PINs. Hyot GP Inc. and Valour Partners High Yield Opportunity LP have issued a Notice of Sale under Mortgage.
Placed the company into court-appointed receivership under BIA s. 243, following default on the Ducimus Capital Inc. loan that had matured September 7, 2025.
Filing brief
361 Taunton Road West (Ajax): fourteen amendments, then the consent
Ducimus Capital lent $28,323,104 against a vacant 24.80-acre Ajax site planned for condominiums and townhouses, under a December 2018 commitment letter that was amended fourteen times, then relied on the consent to receivership the owner signed in March. On July 16, Justice Myers appointed BDO Canada Limited as receiver.
Debtor
1613935 Ontario Inc.
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Myers | Ontario Superior Court of Justice | 2 orders, Jul 2026 | 117 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | Norton Rose Fulbright Canada LLP | 22 Jul 2026 | Service list · 22 Jul 2026 |
| CreditorDucimus Capital Inc | Cassels Brock & Blackwell LLP | 9 Jul 2026 | Factum · 9 Jul 2026 |
| CreditorHyot GP Inc | Dickinson Wright LLP | 22 Jul 2026 | Service list · 22 Jul 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Ducimus Capital Inc. · in 6 casesFirst-ranking mortgage/charge registered Jan 22, 2019 against the Real Property; site-specific General Security Agreement dated Jan 11, 2019; General Assignment of Rents and Leases dated Jan 22, 2019; PPSA (Ontario) registration in favour of Ducimus (two later Northern Coast ABL Inc. PPSA registrations are subordinated/postponed to it) — Original loan advanced $28,323,104 under Dec 13, 2018 Commitment Letter (amended 14 times); $157,230 balance of a prior related-party loan added to principal via April 13, 2021 amendment; principal balance at maturity (Sept 7, 2025) was $28,480,340 plus accrue · as of 27 May 2026 | $30.8M | Application Record, dated July 2, 2026 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
18 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.
| Date | Document | File |
|---|---|---|
Receiver's Notice and Statement
| PDF · Subscribers | |
Service List dated July 22, 2026
| PDF · Subscribers | |
Endorsement Order, dated July 16, 2026
| PDF · Subscribers | |
Receivership Order, dated July 16, 2026
| PDF · Subscribers | |
Factum of Applicant, dated July 9, 2026
| PDF · Subscribers | |
Application Record, dated July 2, 2026
| 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., “1613935 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/1613935-ontario-inc