#Sale
The court approved the sale of the property to Shanty Bay Mobility Ltd. and ordered it vested in the purchaser on delivery of the Receiver's certificate confirming payment of the purchase price and completion of the transaction.
2492029 Ontario Inc. o/a Shanty Bay Esso
FollowActive
- Proceeding
- Receivership (court-appointed)section 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
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CV-24-00731891-00CL
Filings held9
Last activity3 Sep 2026
On the record656 days
Secured debt$1.89M
OverviewSummary updated
2492029 Ontario Inc., operating as Shanty Bay Esso, has been the subject of a court-appointed receivership proceeding in Ontario since November 22, 2024, when the application commencing the matter was filed in the Ontario Superior Court of Justice. The record identifies the statutory footing as section 243 of the Bankruptcy and Insolvency Act together with the provincial Judicature Act appointment power, and lists the court as the Commercial List, sitting in Bankruptcy and Insolvency. The proceeding remains active. No further steps are recorded.
Proceedings AIAsk this case — answers cite the filings
Case updates9 dated entries
#Filing
Motion record of the Receiver returnable on September 3, 2026 — Application / notice of application
#Filing
Interim 246(2) Statement of Receiver dated April 15, 2026 — Notice of receiver (s. 245 / Form 87)
#Order
The court appointed BDO Canada Limited receiver and manager of 2492029 Ontario Inc. on Tandia Financial Credit Union Limited's application, by order made December 4, 2024.
#Filing
Tandia Financial Credit Union Limited applied by notice of application dated November 21, 2024 for the appointment of a receiver under section 243(1) of the Bankruptcy and Insolvency Act, court file CV-24-00731891-00CL.
Source: Application Record of Tandia Financial Credit Union Limited returnable December 4, 2024
AnalysisAll insights
Outcome brief
Shanty Bay Esso: twenty-one months and three prices
A gas station on Highway 11 north of Barrie went dark in September 2024, its insurance lapsed and its doors shut. It took the receiver two listings, three price cuts, seven offers and one buyer who could not close before Justice Steele approved a sale on September 3 — at a price the court sealed, and one that will not repay the credit union in full.
Parties
Debtor
2492029 Ontario Inc. o/a Shanty Bay Esso
Receiver
BDO
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Sep 2026 | 220 cases on record |
| Justice Penny | Ontario Superior Court of Justice | 2 orders, Dec 2024 | 179 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | Dickinson Wright LLP | 3 Sep 2026 | Order · 3 Sep 2026 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Tandia Financial Credit Union Limited · in 5 casesHolds security on the Property; also appointed BDO as private receiver on November 15, 2024 prior to court appointment — Amount stated in Receiver's Notice and Statement (Form 87) — debtor: 2492029 Ontario Inc. · as of 9 Dec 2024 | $1.89M | Notice and Statement of Receiver |
| 4 | Secured | Econo Petroleum Inc. · in 2 casesHolds security on the Property — Amount stated in Receiver's Notice and Statement (Form 87) — debtor: 2492029 Ontario Inc. · as of 9 Dec 2024 | $489K | Notice and Statement of Receiver |
| 4 | Secured | The Toronto Dominion Bank · in 18 casesHolds security on the Property — Amount owed stated as 'Unknown' by Receiver as of the Notice date — debtor: 2492029 Ontario Inc. · as of 9 Dec 2024 | — | Notice and Statement of Receiver |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesReceiver has not yet determined unsecured creditor claims or amounts; no individual creditors named — debtor: 2492029 Ontario Inc. · as of 9 Dec 2024 | — | Notice and Statement of Receiver |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Sale processAs stated in the filings
Sale approved — The Transaction is approved and the Property is to vest in the Purchaser upon delivery of the Receiver's Certificate.Approval and Vesting Order dated September 3, 2026 · 3 Sep 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Shanty Bay Mobility Ltd.the lands and premises described in Schedule A hereto (the 'Property') · real property · agreement 30 Jun 2026 | not statedAPS attached as Confidential Appendix 1 to the First Report; price not stated in this order | Approved3 Sep 2026 | Approval and Vesting Order dated September 3,… |
Closing termsVesting is effective upon delivery of the Receiver's Certificate confirming payment of the purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction to the Receiver's satisfaction.Approval and Vesting Order dated September 3, 2026
Sealed materialsAgreement of purchase and sale attached as Confidential Appendix 1 to the First ReportApproval and Vesting Order dated September 3, 2026
RecoveriesAs stated in the filings
Unsecured creditors: no distribution. Canada Revenue Agency paid in full · Oro-Medonte paid in full · Tandia short.Motion record of the Receiver · 26 Aug 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Canada Revenue Agency | — | paid in full | per the receiver | Motion record of the Receiver · 26 Aug 2026 |
| Secured | Oro-Medonte | — | paid in full | per the receiver | Motion record of the Receiver · 26 Aug 2026 |
| Secured | Tandia | — | shortfall | Estimatedper the receiver | Motion record of the Receiver · 26 Aug 2026 |
| Unsecured | other creditors of the Debtor | — | no distribution | per the receiver | Motion record of the Receiver · 26 Aug 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
Fees and ratesAs stated in the filings
2 engagements · 2 firms — latest: BDO Canada Limited, 11 Nov 2024 – 18 Aug 2026, $99,542.00 in feesMotion record of the Receiver · 3 Sep 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| BDO Canada LimitedReceiver | 11 Nov 2024 – 18 Aug 2026 | 220.9 | $99,542.00 | $450.62stated average | Motion record of the Receiver · 3 Sep 2026 |
| Dickinson Wright LLPCounsel to the receiver | 6 Dec 2024 – 31 Jul 2026 | 38 | $21,686.00 | $570.68stated average | Motion record of the Receiver · 3 Sep 2026 |
Estate financialsReported figures — never derived
Total assets at filing$2.64M
As at 30 Jun 2023 · per Net Book Value based on financial information as at June 30, 2023 (Inventory nominal $1 + Property, Plant and Equipment $2,643,514) · Entity - 2492029 Ontario Inc. (Property, undertakings and properties subject to receivership) — Total liabilities not stated; secured creditor claims listed separately on page 2
Documents
9 filings
| Date | Document | File |
|---|---|---|
Ancillary Order dated September 3, 2026
| ||
Approval and Vesting Order dated September 3, 2026
| ||
Motion record of the Receiver returnable on September 3, 2026
| ||
| Factum of the Receiver | ||
| Interim 246(2) Statement of Receiver dated April 15, 2026 | ||
Notice and Statement of Receiver
| ||
Application Record of Tandia Financial Credit Union Limited returnable December 4, 2024
| ||
Appointment Order dated December 4, 2024
| ||
Endorsement of the Honorable Justice Penny dated December 4, 2024
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “2492029 Ontario Inc. o/a Shanty Bay Esso” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 20 September 2026, https://proceedings.ca/case/2492029-ontario-inc-o-a-shanty-bay-esso