#Order
The court appointed Rosen Goldberg Inc. as receiver and manager, and construction lien trustee, on the application of Downing Street Financial Inc.. Court file 24-00732760-00CL.
2573163 Ontario Inc. et al.
FollowActive
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act, section 68 of the Construction Act, and section 101 of the Courts of Justice Act
- File
- 24-00732760-00CL
OverviewSummary updated
2573163 Ontario Inc. and 2668860 Ontario Inc. have been in a court-appointed receivership under section 243 of the Bankruptcy and Insolvency Act since May 27, 2025, and the proceeding remains active. The principal secured creditor is Downing Street Financial Inc., which holds a first mortgage over the Cartier Properties at 122, 124 and 126 Cartier Crescent and the 340/342 Properties, registered in July 2021 and amended on January 28, 2025 to $6,500,000 after $500,000 of additional loan funds were advanced under a January 2025 forbearance. Interest arrears under the loan stood at $195,204.16 as at February 28, 2025. Further defaults arose from Cope Project Management Corporation's $84,750 construction lien registered October 21, 2024 and $61,491.49 in Richmond Hill property tax arrears, unpaid since 2021 and 2023, discovered November 28, 2024. Alleghe Mortgage Fund Ltd. holds a subordinated second charge over 122 and 124 Cartier Crescent registered at $1,000,000.
Proceedings AIAsk this case — answers cite the filings
Case updates4 dated entries
1 earlier update, back to 27 May 2025 — subscribers.
Parties
Debtor
2573163 Ontario Inc. et al.
Applicant
Downing Street Financial Inc.
Receiver
Rosen Goldberg
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, May 2025 | 288 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantDowning Street Financial Inc. | Blaney McMurtry LLP | 27 May 2025 | Order · 27 May 2025 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Downing Street Financial Inc. · in 3 casesFirst mortgage ("Downing Cartier First Mortgage") registered as Instrument No. YR3280094 in LRO #65 on July 9, 2021 over 122 Cartier, 124 Cartier, 126 Cartier Crescent and the 340/342 Properties; Notice of Mortgage Amendment registered as Instrument No. YR3761818 on January 28, 2025; also secured by a General Security Agreement dated July 8, 2021 and a General Assignment of Rents and Leases dated July 8, 2021 — Loan principal increased from $6,000,000 (stated principal outstanding at the time) to $6,500,000 pursuant to the January 2025 Forbearance (Additional Loan Funds of $500,000). The origi · as of 28 Jan 2025 | $6.5M | Application 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.
Documents3 filings
| Date | Document | File |
|---|---|---|
Endorsement of Justice Cavanagh dated May 27, 2025
| PDF · Subscribers | |
Receivership Order dated May 27, 2025
| PDF · Subscribers | |
Application Record
| 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., “2573163 Ontario Inc. et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/2573163-ontario-inc-et-al