170 Willowdale Investments Corp.
- Proceeding
- Receivership (court-appointed)Subsection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended and Section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- File
- CV-23-00699065-00CL
170 Willowdale Investments Corp. has been in court-appointed receivership since May 23, 2023, when the Ontario Superior Court of Justice appointed The Fuller Landau Group Inc. receiver on the application of Business Development Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, in court file CV-23-00699065-00CL; the matter also carries Court of Appeal for Ontario file COA-23-CV-0614. BDC, the first-ranking registered secured creditor under the PPSA, asserts an outstanding principal balance of $3,503,674.26 under its loan as restructured by a letter of amendment dated August 19, 2021, and subsequent PPSA registrations stand in favour of Royal Bank of Canada and 729171 Alberta Inc.
The court granted an approval and vesting order for the sale to 170 Willowdale Ave Holdings Inc. Closing terms, as extracted: Vesting effective upon delivery of the Receiver's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction.
Motion Record - Receiver - The Fuller Landau Group Inc. - 03-MAY-2024 — Application / notice of application
The court appointed The Fuller Landau Group Inc. as Receiver, on the application of BUSINESS DEVELOPMENT BANK OF CANADA. Court file CV-23-00699065-00CL.
Source: Appointment Order
Debtor
170 Willowdale Investments Corp.
Receiver
Fuller Landau
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Osborne | Ontario Superior Court of Justice | 5 orders, May 2023 – Jul 2024 | 168 cases on record |
| Justice Conway | Ontario Superior Court of Justice | 3 orders, May 2024 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantBusiness Development Bank of Canada | Aird & Berlis LLP | 23 May 2023 | Order · 23 May 2023 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Business Development Bank of Canada (BDC) · in 251 casesFirst readvanceable mortgage (Charge, instrument AT5019987, registered principal $3,558,000.00); General Security Agreement (all present and after-acquired personal property, PPSA registered); General Assignment of Rents (instrument AT5019994); Guarantee of Mary-Am Hospitality Corp.; Joint and Several Guarantee of Raymond Zar and Maryam Rezaee for 10% of Loan amount outstanding — First-ranking registered secured creditor under PPSA; outstanding principal balance per BDC Letter of Amendment dated August 19, 2021, restructuring the Loan; capitalized interest and interest arrears paid off separat · as of 19 Aug 2021 | $3.5M | Motion to Quash Appeal |
| Secured | |||
| Secured |
2 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount.
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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.
Sale approvedApproval and Vesting Order - 15-May-2024 · 15 May 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 170 Willowdale Ave Holdings Inc.the Debtor's right, title and interest, if any, in and to the assets described in the Sale Agreement (the "Purchased Assets") · real property · agreement 3 Apr 2024 | not stated | Approved15 May 2024 | Approval and Vesting Order - 15-May-2024 |
1 engagement · 1 firm — Miller Thomson LLP, in feesMotion Record · 5 Jul 2024
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Miller Thomson LLPCounsel to the receiver | — | 5 people | Motion Record · 5 Jul 2024 | ||||||||||||||||||||||||||||||||
5 people — Miller Thomson LLP · 15 blurred figures
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18 blurred figures above
What the firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Court of Appeal Decision | PDF · Subscribers | |
Endorsement July 22 2024
| PDF · Subscribers | |
Order July 22 2024
| PDF · Subscribers | |
Motion Record
| PDF · Subscribers | |
Ancillary Order -15-May-2024
| PDF · Subscribers | |
Approval and Vesting Order - 15-May-2024
| PDF · Subscribers | |
Endorsement of Conway J May 15 2024
| PDF · Subscribers | |
Motion Record - Receiver - The Fuller Landau Group Inc. - 03-MAY-2024
| PDF · Subscribers | |
Motion to Quash Appeal
| PDF · Subscribers | |
| Notice of Appeal | PDF · Subscribers | |
Supplemental Endorsement with Reasons
| PDF · Subscribers | |
Appointment Order
| PDF · Subscribers | |
Endorsement
| 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., “170 Willowdale Investments Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/170-willowdale-investments-corp