2416946 Ontario Ltd.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- CV-25-00089766-0000
- Industry
- Real estate · Rental & income property
2416946 Ontario Ltd., owner of 268 King Street, Midland, Ontario, has been under court-appointed receivership in the Ontario Superior Court of Justice since May 1, 2025, under court file CV-25-00089766-0000. The proceeding is closed. First-ranking secured creditor Caisse Desjardins Ontario Credit Union Inc., which advanced original principal of $435,000 in July 2021 and demanded payment of $419,287.95 in March 2025, was owed $471,423.46 as at March 18, 2026, exclusive of $74,436.81 in receivership advances made under Receiver's Certificates. The Receiver's independent counsel, Capstone, opined that the Desjardins charge is valid, enforceable and first-ranking. Desjardins is expected to suffer a shortfall, so no distribution is expected to second-ranking Sagewise Capital Corporation, owed $192,510.06 as at March 20, 2026. Municipal tax arrears exceed $25,000, and CRA's claim remains unconfirmed pending books and records from Alf K. Storck.
Motion record of the Receiver (for motion returnable April 2, 2026) — Application / notice of application
Order of Justice P. R. Sweeny dated April 2, 2026 (Approval and Vesting Order) — Approval and vesting order
Placed 2416946 Ontario Ltd. and its Midland real property into receivership and created the Receiver's Borrowings Charge, under which $74,436.81 was later advanced by Desjardins.
Debtor
File Documents
Receiver
Albert Gelman
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Sweeny | Ontario Superior Court of Justice | 3 orders, Apr 2026 | 3 cases on record |
| Justice Goodman | Ontario Superior Court of Justice | 2 orders, May 2025 | 14 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlbert Gelman | Capstone Legal | 2 Apr 2026 | Factum · 31 Mar 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 986 casesDeemed-trust class quasi-governmental claim; Receiver made numerous attempts to confirm amounts owing by the Company but CRA has not provided confirmation (backlog in CRA's insolvency group); amount unknown/unconfirmed as of report date — debtor: 2416946 Ontario Ltd. | — | First Report of the Receiver (for motion returnable April 2, 2026) |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
3 more claims in 1 class The stack holds Deemed trusts (CRA and other) and Secured claims.
Every creditor and every amount, drawn to scale.
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See all plans“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.
Closed · the record states no distribution outcome.
| Date | Document | File |
|---|---|---|
Endorsement of Justice P. R. Sweeny dated April 2, 2026
| PDF · Subscribers | |
Motion record of the Receiver (for motion returnable April 2, 2026)
| PDF · Subscribers | |
Order of Justice P. R. Sweeny dated April 2, 2026 (Ancillary Relief Order and Discharge Order)
| PDF · Subscribers | |
Order of Justice P. R. Sweeny dated April 2, 2026 (Approval and Vesting Order)
| PDF · Subscribers | |
Factum of the Receiver (for motion returnable April 2, 2026)
| PDF · Subscribers | |
First Report of the Receiver (for motion returnable April 2, 2026)
| PDF · Subscribers | |
Endorsement May 1, 2025
| PDF · Subscribers | |
Issued Appointment Order – 01-MAY-2025
| PDF · Subscribers | |
Application Record – 10-APR-2025
| PDF · Subscribers | |
| Factum – 10-APR-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., “2416946 Ontario Ltd.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/2416946-ontario-ltd