2632363 Ontario Inc.
Follow- 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-24-00000695-0000
2632363 Ontario Inc. is subject to an active court-appointed receivership in the Ontario Superior Court of Justice, carried under court file number CV-24-00000695-0000. The proceeding rests on subsection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985 c. B-3, as amended, together with section 101 of the Courts of Justice Act, R.S.O. 1990, c. C-43, as amended. The receivership remains open in Ontario. No dated milestones have been entered on this record, and the file number above is the only identifier confirmed for the proceeding.
A receivership order was granted. Court file CV-24-00000695-0000.
Source: Order of Justice Mitchell
Order of Justice Mitchell was filed. Court file CV-24-00000695-0000.
Source: Order of Justice Mitchell
Debtor
2632363 Ontario Inc.
Receiver
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) · in 926 casesas of pre-receivership debts — HST deemed trust claim asserted by CRA, being the deemed-trust portion of total pre-receivership HST arrears of $136,444.93. Per Callidus Capital Corp. v. Canada, 2018 SCC 47, upon the Company's deemed bankruptcy (Feb 3, 2025) the HST deemed trust ceased to be effective against secured creditors; accordingly BMO's charge has priority over this amount and no distribution is anticipated on account of it. — debtor: 2632363 Ontario Inc. | $130K | Motion Record |
| 4 | Secured | Bank of Montreal (BMO) · in 279 casesFirst ranking charge/mortgage over the Real Property in the registered principal sum of $2,948,750; Assignment of Rents for the Real Property; General Security Agreement dated March 21, 2019; PPSA registrations (Inventory, Equipment, Accounts, Other, Motor Vehicle Included; and Accounts, Other) — Report states indebtedness in the 'approximate amount of $2.7 million, plus accruing interest and costs of enforcement'; no exact dated balance stated in these pages. $2,948,750 is the registered mortgage principal, not the outstanding balance. Miller Thomson security opinion dated Feb 11, 2025 confir | $2.7M | Motion Record |
| 4 | Secured | Accord Small Business Finance Corp. · in 8 casesPPSA registration no. 20230420 1353 9237 8472 (Inventory, Equipment, Accounts, Other), securing a Loan Agreement dated April 20, 2023 in the (original advance/registered) principal amount of $250,000 — Second-ranking PPSA registrant behind BMO; Receiver states the transaction will result in a shortfall on BMO's charge and no distribution is anticipated to Accord on its secured claim. — debtor: 2632363 Ontario Inc. | — | Motion Record |
| 8 | Unsecured | Township of Centre WellingtonPriority claim - property tax arrears rank in priority to the BMO charge; to be paid from sale proceeds of the Real Property transaction; approximate figure, not an exact stated balance. — debtor: 2632363 Ontario Inc. | $15K | Motion Record |
“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 approvedApproval and Vesting Order · 28 Feb 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1001152527 Ontario Inc.the Debtor's right, title and interest, if any, in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 8 Nov 2024 | not stated | Approved28 Feb 2025 | Approval and Vesting Order |
| Date | Document | File |
|---|---|---|
Ancillary Order
| ||
Approval and Vesting Order
| ||
Motion Record
| ||
Endorsement of Justice Mitchell
| ||
Order of Justice Mitchell
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “2632363 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/2632363-ontario-inc