2481043 Ontario Inc
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-17-11800-00CL
- Industry
- Real estate · Rental & income property
2481043 Ontario Inc. has been under court-appointed receivership in the Ontario Superior Court of Justice since December 15, 2017, with MNP Ltd. as receiver and the proceeding remaining active under court file CV-17-11800-00CL. The receivership was sought by Trez Capital Limited Partnership and Trez Capital (2011) Corporation under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The lender group, which also includes Computershare Trust Company of Canada, reported an outstanding balance of $22,475,684.94 as at May 10, 2017, plus per diem interest of $3,068.49 and unbilled disbursements, and a further $128,403.09 tax rebate owing separately. Its security includes a charge registered September 25, 2015 (Instrument No. AT4018127), a notice of assignment of rents, a general security agreement dated October 5, 2016, and a guarantee from Ontario International College Inc./College International de l'Ontario Inc. dated February 4, 2016.
The court granted an approval and vesting order for the sale to Don Mills Storage Inc. Closing terms, as extracted: Vesting occurs upon delivery of a Receiver's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.
Court granted the receivership order on the Trez Capital lenders' application, placing MNP Ltd. in as receiver of 2481043 Ontario Inc.
Source: Order of Justice Conway (Appointing Receiver) dated December 15, 2017
Receivership application brought before the Commercial List of the Ontario Superior Court of Justice under BIA s. 243, opening court file CV-17-11800-00CL.
Debtor
2481043 Ontario Inc
Receiver
MNP
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Trez Capital Limited Partnership, Trez Capital (2011) Corporation and Computershare Trust Company of Canada (the "Lender")Charge/Mortgage registered September 25, 2015 (Instrument No. AT4018127) securing principal sum of $30,000,000.00; amended to reflect principal outstanding of $23,400,000.00; Additional Security including October 2016 Amending Agreement to the Charge, Notice of Assignment of Rents, and General Security Agreement dated October 5, 2016; PPSA registration over all security relating to the Property (no prior or subsequent registrations) — Amount is outstanding balance as of May 10, 2017, per Mortgage Statement, plus per diem interest of $3,068.49 and unbilled disbursements; does not include Tax Re · as of 10 May 2017 | $22.5M | Application Record dated May 19, 2017 |
| Secured |
1 more claim 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, May 24, 2018 · 24 May 2018
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Don Mills Storage Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 19 Mar 2018 | not stated | Approved24 May 2018 | Approval and Vesting Order, May 24, 2018 |
| Date | Document | File |
|---|---|---|
Endorsement of Justice McEwen May 25, 2018
| PDF · Subscribers | |
Approval and Vesting Order, May 24, 2018
| PDF · Subscribers | |
| Endorsement, May 24, 2018 | PDF · Subscribers | |
| Order - Ancillary Relief, May 24, 2018 | PDF · Subscribers | |
| Motion Record, Returnable May 24, 2018 | PDF · Subscribers | |
Endorsement of Justice Conway dated December 15, 2017
| PDF · Subscribers | |
Order of Justice Conway (Appointing Receiver) dated December 15, 2017
| PDF · Subscribers | |
Application Record dated May 19, 2017
| 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., “2481043 Ontario Inc” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/2481043-ontario-inc