27 Developments Inc. has been in court-appointed receivership since October 22, 2025, when the Ontario Superior Court of Justice made a receivership order under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding is carried on the Ontario Superior Court file under number CV-25-00002260-0000 and remains active. The record of the case to date consists of the receivership order itself; no further steps have been reported on the file.
The court granted an approval and vesting order for the sale to 2858929 Ontario Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment, satisfaction of conditions, and completion of the Transaction.
Source: Issued AVO order of Vallee J.
The officer filed report no. Supplement to First Report. The Receiver continues to pursue court approval of the sale of the Real Property while working with the escrow agent and counsel to resolve the return of office unit purchasers' deposits held in trust.
Source: Supplement to First Report
Receivership order made on Wednesday, October 22, 2025, placing 27 Developments Inc. into court-appointed receivership and opening the Ontario Superior Court file.
Source: Receivership Order
Outcome brief
27 Developments: a later, higher bid for the Hotel Vie site, turned away
On July 29, 2026, Justice Vallee approved BDO's sale, at a sealed price, of an 8.09-acre Vaughan banquet-hall property where 27 Developments had planned the 261-suite Hotel Vie. The receiver said a later, higher offer put forward by counsel for the Parentela family came outside its process and was conditional on financing.
Debtor
27 Developments Inc.
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Vallee | Ontario Superior Court of Justice | 2 orders, Jul 2026 | 3 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | Loopstra Nixon LLP | 29 Jul 2026 | Order · 29 Jul 2026 |
| Applicant | WeirFoulds LLP | 22 Oct 2025 | Order · 22 Oct 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | BJK Holdings LtdFigure per Receiver's statement based on limited available books and records — debtor: 27 Developments Inc. | $32M | Receiver's Notice and Statement |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured |
3 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
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.
2 transactions · 1 not completed · 1 approved — Sale transaction approved and vesting order grantedIssued AVO order of Vallee J. · 29 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2628843 Ontario Inc.the Real Property · real property | Subscribers | Not completed | Supplement to First Report |
| 2858929 Ontario Inc.the Company's right, title and interest in and to the assets described in the Sale Agreement · real property · agreement 19 May 2026 | not stated | Approved29 Jul 2026 | Issued AVO order of Vallee J. |
BJK Holdings Ltd.: a distribution.FinalSupplement to First Report · 29 Jul 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | BJK Holdings Ltd. | — | a distributionfinal | Finalper the receiver | Supplement to First Report · 29 Jul 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.
| Date | Document | File |
|---|---|---|
Issued AVO order of Vallee J.
| PDF · Subscribers | |
Issued Admin order of Vallee J.
| PDF · Subscribers | |
| Factum | PDF · Subscribers | |
Supplement to First Report
| PDF · Subscribers | |
First Report to the Court
| PDF · Subscribers | |
Receiver's Notice and Statement
| PDF · Subscribers | |
Receivership Order
| 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., “27 Developments Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/27-developments-inc
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/27-developments-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.