2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc.
FollowActive
- 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-24-00716277-00CL
Filings held14
Last activity10 Sep 2025
On the record843 days
Secured debt$215K
OverviewSummary updated
2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc. have been in court-appointed receivership since May 31, 2024, when the Ontario Superior Court of Justice (Commercial List) appointed TDB Restructuring Limited receiver and manager on the application of MarshallZehr Group Inc., under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, in court file CV-24-00716277-00CL. MarshallZehr, described as senior secured creditor, lent under commitment letters dated January 9, 2020 and October 23, 2020. Receiver's certificates of $215,000.00 have been issued under the receiver's borrowings charge, and the Township of Otonabee-South Monaghan holds a preferred property tax claim of $113,408.00 that the receiver intends to pay from the proceeds of sale of the real property. Tarion Warranty Corporation is a litigation claimant, and a Wage Earner Protection Program claim is advanced for employees through Koskie Minsky.
Proceedings AIAsk this case — answers cite the filings
Case updates15 dated entries
#Sale
The court granted an approval and vesting order for the sale to 1981242 Ontario Inc. Closing terms, as extracted: Vesting occurs upon delivery of Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction. Sealed: Confidential Appendices 1 and 2 to the Second Report.
Source: Approval and Vesting Order (Lot 9) dated March 7, 2025
#Report
The officer filed report no. Second Report. The Receiver is actively marketing the Real Property and Lot 9 for sale, having terminated the original Lot 9 purchase agreement and negotiated a new sale, while addressing vehicles, municipal work orders, and borrowings; the Debtors have no ongoing business operations.
#Order
The court appointed TDB Restructuring Limited as receiver and manager, on the application of MarshallZehr Group Inc.. Court file CV-24-00716277-00CL.
#Order
Order of May 31, 2024, opening the receivership on the application of MarshallZehr Group Inc., with TDB Restructuring Limited appointed receiver and manager.
Parties
Debtor
2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc.
Receiver
TDB Restructuring
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Mar 2025 | 288 cases on record |
| Justice Kimmel | Ontario Superior Court of Justice | 2 orders, Oct 2024 | 182 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, May 2024 | 220 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverTDB Restructuring | Chaitons LLP | 15 Oct 2024 | Factum · 15 Oct 2024 |
| Debtor2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc. | Dickinson Wright LLP | 10 Sep 2025 | Service list · 10 Sep 2025 |
| PurchaserLot 9 | Ain Whitehead LLP | 10 Sep 2025 | Service list · 10 Sep 2025 |
| CreditorFraser Berrill | Frymer Law | 10 Sep 2025 | Service list · 10 Sep 2025 |
| CreditorKing-Con Corporation | Blaney McMurtry LLP | 10 Sep 2025 | Service list · 10 Sep 2025 |
| CreditorMarshallZehr Group Inc | Chaitons LLP | 31 May 2024 | Order · 31 May 2024 |
| CreditorTarion Warranty Corporation | Torys LLP | 10 Sep 2025 | Service list · 10 Sep 2025 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Receiver's Certificate holders (Receiver's Borrowings Charge) · in 3 casesas of October 10, 2024 — Fixed and specific charge on the Real Property pursuant to Appointment Order, priority over all security interests but subordinate to Receiver's Charge and BIA ss. 14.06(7), 81.4(4), 81.6(2); authorized borrowing limit up to $650,000 — Court-ordered receivership financing charge, not a pre-filing creditor — debtor: 2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc. | $215K | First Report of the Receiver dated October 10, 2024 |
| 4 | Secured | TDB Restructuring Limited (Receiver) and Chaitons LLP (Receiver's Charge) · in 4 casesFirst charge on the Real Property in priority to all security interests, subject to BIA ss. 14.06(7), 81.4(4), 81.6(2) — Court-ordered receiver's charge for fees and disbursements, not a pre-filing creditor — debtor: 2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc. | — | First Report of the Receiver dated October 10, 2024 |
| 4 | Secured | 2299445 Ontario Inc. (VTB - vendor take-back)Vendor take-back mortgage (VTB) — Referenced via counsel (DLA Piper) email regarding payout of VTB and discharge statement requested; no amount stated on these pages — debtor: 2174542 Ontario Inc. | — | First Report of the Receiver dated October 10, 2024 |
| 4 | Secured | MarshallZehr Group Inc. · in 19 casesMortgages against the Real Property; guarantees and general security agreements from each of the Debtors — Described as senior secured creditor of 217; loans made pursuant to commitment letters dated October 23, 2020 and January 9, 2020; no balance stated on these pages — debtor: 2174542 Ontario Inc. and Safe Harbour Homes Inc. | — | First Report of the Receiver dated October 10, 2024 |
| 7 | Preferred (BIA s. 136) | Township of Otonabee-South Monaghan (property taxes)as understood by the Receiver as of the First Report — Preferred municipal tax claim; Receiver intends to pay from proceeds of sale of the Real Property — debtor: 217 (owner of the Real Property) | $113K | First Report of the Receiver dated October 10, 2024 |
| 7 | Preferred (BIA s. 136) | Employees / Koskie Minsky (Wage Earner Protection Program claim)Preferred wage claim class under BIA; amount not stated on these pages — debtor: 2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc. | — | First Report of the Receiver dated October 10, 2024 |
| 8 | Unsecured | Canada Revenue Agency (CRA) · in 926 casesDeemed trust / CRA indebtedness referenced but no amount stated on these pages — debtor: 2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc. | — | First Report of the Receiver dated October 10, 2024 |
| 8 | Unsecured | Tarion Warranty Corporation · in 6 casesLitigation claimant; amount not stated on these pages — debtor: 2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc. | — | First Report of the Receiver dated October 10, 2024 |
| 8 | Unsecured | Unsecured trade creditors (unnamed) · in 8 casesDocument names no individual creditors and states no aggregate figure on these pages — debtor: 2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc. | — | First Report of the Receiver dated October 10, 2024 |
“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 processAs stated in the filings
4 transactions · 3 approved · 1 proposed — the Transaction is hereby approvedApproval and Vesting Order (Lot 9) dated March 7, 2025 · 7 Mar 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| referred to only as 'the Purchaser'; identity not stated (unredacted APS filed confidentially)Lot 9 · real property | SealedPurchase price redacted in the report and filed unredacted under seal | Proposed | Second Report of the Receiver dated March 4,… |
| 1981242 Ontario Inc.the real property located at 18 Veterans Rd. in the Township of Otonabee-South Monaghan, County of Peterborough and having the legal description set out in Schedule 'A' to this Order (the 'Real Property') · real property · agreement 31 Jan 2025 | not stated | Approved7 Mar 2025 | Approval and Vesting Order (Lot 9) dated March… |
| purchaser of Lot 9, unnamedthe sale of Lot 9 · real property | not stated | Approved7 Mar 2025 | Vehicles and Ancillary Order dated March 7, 2025 |
| ultimate purchaser of the Vehicles, unnamedthe Vehicles · asset sale | not stated | Approved7 Mar 2025 | Vehicles and Ancillary Order dated March 7, 2025 |
AdvisorsCBRE Limited (listing broker); RE/MAX Hallmark Realty Ltd. (listing broker)Second Report of the Receiver dated March 4, 2025
Closing termsVesting occurs upon delivery of Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction.Approval and Vesting Order (Lot 9) dated March 7, 2025
Sealed materialsConfidential Appendices 1 and 2 to the Second ReportVehicles and Ancillary Order dated March 7, 2025
Fees and ratesAs stated in the filings
3 engagements · 2 firms — latest: TDB Restructuring Limited, 29 May – 30 Sep 2024, $125,660.35 incl. HSTMotion Record of the Receiver · 11 Oct 2024
| Firm | Period | Hours | Fees | Rates | Source | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chaitons LLPCounsel to the receiver | 3 Jun – 31 Aug 2024 | 14.6 | $7,391.50ex. tax | $325 – $6754 people | Motion Record of the Receiver · 11 Oct 2024 | |||||||||||||||||||||||||
4 people — Chaitons LLP, 3 Jun – 31 Aug 2024
| ||||||||||||||||||||||||||||||
| TDB Restructuring LimitedReceiverperiod 2 of 2 | 29 May – 30 Sep 2024 | — | $125,660.35incl. HST | not stated | Motion Record of the Receiver · 11 Oct 2024 | |||||||||||||||||||||||||
| TDB Restructuring LimitedReceiverperiod 2 of 2 | to 30 Sep 2024 | 44.4 | $20,024.50ex. tax | $295 – $6953 people | First Report of the Receiver · 10 Oct 2024 | |||||||||||||||||||||||||
3 people — TDB Restructuring Limited, to 30 Sep 2024
| ||||||||||||||||||||||||||||||
Top rate $695 · 39th percentile of receiver rates, 2024 · of 84
Estate financialsReported figures — never derived
Cumulative receipts
$503K
As at 4 Mar 2025Second Report of the Receiver dated March 4, 2025
Cumulative disbursements
$453K
As at 4 Mar 2025Second Report of the Receiver dated March 4, 2025
Professional fees to date
$99.8K
As at 4 Mar 2025Second Report of the Receiver dated March 4, 2025
Documents
14 filings
| Date | Document | File |
|---|---|---|
Service List dated September 10, 2025
| ||
Approval and Vesting Order (Lot 9) dated March 7, 2025
| ||
Endorsement of the Honourable Justice Cavanagh dated March 7, 2025
| ||
| Motion Record of the Receiver returnable March 7, 2025 | ||
Vehicles and Ancillary Order dated March 7, 2025
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Second Report of the Receiver dated March 4, 2025
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Endorsement of the Honourable Justice Kimmel dated October 17, 2024
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Sale Process Approval Order dated October 17, 2024
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Factum of the Receiver dated October 15, 2024
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Motion Record of the Receiver dated October 11, 2024
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First Report of the Receiver dated October 10, 2024
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Appointment Order dated May 31, 2024
| ||
Endorsement of the Honourable Justice Steele dated May 31, 2024
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Application Record dated March 28, 2024
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “2174542 Ontario Inc., Safe Harbour Homes Inc. and Safe Harbour Developments Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/2174542-ontario-inc-safe-harbour-homes-inc-and-safe-harbour-developments-inc