170 Willowdale Investments Corp.
Follow- 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.
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
Order of May 23, 2023, opening the receivership on the application of Business Development Bank of Canada, with The Fuller Landau Group Inc. appointed receiver.
Source: Appointment Order
Debtor
170 Willowdale Investments Corp.
Receiver
Fuller Landau
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Business Development Bank of Canada (BDC) · in 241 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 | Royal Bank of Canada · in 556 casesPPSA registration (subsequent to BDC) — PPSA search reveals subsequent registration by Royal Bank of Canada; amount not stated in these pages — debtor: 170 Willowdale Investments Corp. | — | Motion to Quash Appeal |
| Secured | 729171 Alberta Inc.Charge registered April 20, 2018 (instrument AT4846838), third mortgage — Referred to as the 'Private Lender' and '3rd mortgagee' of BDC's mortgage security in BDC amendment letter; PPSA search reveals subsequent registration by this entity; amount not stated in these pages — debtor: 170 Willowdale Investments Corp. | — | Motion to Quash Appeal |
“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.
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, —Motion Record · 5 Jul 2024
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Miller Thomson LLPCounsel to the receiver | — | 64.6 | — | $220 – $7205 people | Motion Record · 5 Jul 2024 | ||||||||||||||||||||||||||||||
5 people — Miller Thomson LLP, —
| |||||||||||||||||||||||||||||||||||
Top rate $720 · 33rd percentile of counsel rates, 2024 · of 76
| Date | Document | File |
|---|---|---|
| Court of Appeal Decision | ||
Endorsement July 22 2024
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Order July 22 2024
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Motion Record
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Ancillary Order -15-May-2024
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Approval and Vesting Order - 15-May-2024
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Endorsement of Conway J May 15 2024
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Motion Record - Receiver - The Fuller Landau Group Inc. - 03-MAY-2024
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Motion to Quash Appeal
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| Notice of Appeal | ||
Supplemental Endorsement with Reasons
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Appointment Order
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Endorsement
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Filing titles, dates, and extracted key facts are public.
CiteProceedings., “170 Willowdale Investments Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/170-willowdale-investments-corp