20 Caldari Development Inc. - 20 Caldari Road, Vaughan
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-25-00001199-0000
- Industry
- Real estate
20 Caldari Development Inc., the owner of 20 Caldari Road in Vaughan, Ontario, is the subject of a court-appointed receivership proceeding in the Ontario Superior Court of Justice (In Bankruptcy and Insolvency), brought under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The application was filed on March 17, 2025 and carries court file number CV-25-00001199-0000. The proceeding remains active. No further steps appear on the record to date.
The court approved a sale and investment solicitation process. A bid deadline of 2026-05-13.
Source: Sales Process Order of the Honourable Justice Le May dated April 8, 2026
Supplementary Motion Record of the Applicant dated March 5, 2026 — Application / notice of application
A receivership order was granted, on the application of 1000688136 Ontario Inc.. Court file CV-25-00001199-0000.
Source: Order of the Honourable Justice Wilkinson dated June 3, 2025
Application Record of the Applicant dated April 24, 2025 — Application / notice of application
Debtor
20 Caldari Development Inc. - 20 Caldari Road, Vaughan
Receiver
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice le May | Ontario Superior Court of Justice | 2 orders, Apr 2026 | 2 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Receivermsi Spergel inc. | Fogler, Rubinoff LLP | 8 Apr 2026 | Order · 8 Apr 2026 |
| Debtor20 Caldari Development Inc. - 20 Caldari Road, Vaughan | Paliare Roland Rosenberg Rothstein LLP | 1 Apr 2026 | Factum · 1 Apr 2026 |
| Creditor1000688136 Ontario Inc. and J.I.S. Contract Furniture Inc | Fogler, Rubinoff LLP | 27 May 2025 | Factum · 27 May 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | 1000688136 Ontario Inc.First Mortgage/Charge (Instrument No. YR3344879, registered Nov 23, 2021, registered principal $13,120,000, originally to Canadian Western Bank); transferred to 1000688136 Ontario Inc. by Instrument No. YR3655690 registered March 11, 2024; amended by Mortgage Amending Agreement (Instrument No. YR3685546, registered June 7, 2024); also General Security Agreement dated Nov 24, 2021 (assigned March 11, 2024) and Notice of Assignment of Rents-General (Instrument No. YR3344880) — Comprehensive mortgage statement dated February 26, 2025 (Exhibit P) shows principal and interest owing of $9,504,759.36 · as of 26 Feb 2025 | $9.5M | Application Record of the Applicant dated April 24, 2025 |
| Secured | |||
| Secured | |||
| Secured |
3 more claims in 1 class The stack holds Secured claims.
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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 process approved — Sale and investment solicitation process approved with stalking horse bidSales Process Order of the Honourable Justice Le May dated April 8, 2026 · 8 Apr 2026
Stalking horse
1000688136 Ontario Inc. and J.I.S. Contract Furniture Inc. (in trust for a company to be incorporated) · Subscribers
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1000688136 Ontario Inc. and J.I.S. Contract Furniture Inc.Stalking horsePurchased Assets · asset sale · nominee/assignee: in trust for a company to be incorporated · agreement 4 Mar 2026 | Subscribers | Approved8 Apr 2026 | Sales Process Order of the Honourable Justice… |
| Date | Document | File |
|---|---|---|
SISP - Teaser Document April 15, 2026
| PDF · Subscribers | |
| SISP - Stalking Horse Agreement April 14, 2026 | PDF · Subscribers | |
Endorsement of the Honourable Justice Le May dated April 13, 2026
| PDF · Subscribers | |
Sale and Investment Solicitation Process
| PDF · Subscribers | |
Sales Process Order of the Honourable Justice Le May dated April 8, 2026
| PDF · Subscribers | |
Factum of the Respondent dated April 1, 2026
| PDF · Subscribers | |
| Factum of the Receiver dated March 5, 2026 | PDF · Subscribers | |
| Supplementary Motion Record of the Applicant dated March 5, 2026 | PDF · Subscribers | |
Affidavit of Ricardo Sousa dated July 3, 2025
| PDF · Subscribers | |
Order of the Honourable Justice Wilkinson dated June 3, 2025
| PDF · Subscribers | |
Factum of the Applicant dated May 27, 2025
| PDF · Subscribers | |
Application Record of the Applicant dated April 24, 2025
| 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., “20 Caldari Development Inc. - 20 Caldari Road, Vaughan” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/20-caldari-development-inc-20-caldari-road-vaughan