Proceedings.

2760861 Ontario Inc.

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Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Court
Ontario Superior Court of Justice
Filings held16
Last activity27 May 2026
On the record430 days
Secured debt$741K
OverviewSummary updated

2760861 Ontario Inc. has been the subject of a court-appointed receivership proceeding under BIA s. 243 since July 18, 2025, on the application of Caisse Desjardins Ontario Credit Union Inc. The Caisse holds first-ranking mortgages of $399,500 on 381 Leslie Street, Sudbury and $380,000 on 469-471 Pelissier Street, Windsor, with assignments of rents on both and a March 31, 2021 guarantee from Nandan Fozdar. Demand and a notice of intention to enforce security issued June 3, 2024 for $709,614.49 expired June 13, 2024. As of May 29, 2025 the two loans stood at $398,146.70 and $342,557.71, a stated table total of $740,704.41; the same paragraph also asserts $871,188.61. Monthly-payment arrears exceed $53,000. Municipal tax liens ranking ahead of the mortgages stand at $37,873.70 in Windsor and $23,320.99 in Sudbury, after the Caisse paid $114,068.35 to the City of Greater Sudbury around October 3, 2024 to avert a tax sale.

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#Order

2760861 Ontario Inc. — Receivership filed, Ontario.

Parties

Debtor

2760861 Ontario Inc.

Applicant

Desjardins Ontario Credit Union

Receiver

BDO

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice CavanaghOntario Superior Court of Justice8 orders, Jul 2025 – May 2026288 cases on record

Counsel of record

PartyCounselFirst seenSource
ApplicantDesjardins Ontario Credit UnionSoloway Wright LLP18 Jul 2025Order · 18 Jul 2025
Capital structureAs asserted in the filings
stated amounts, drawn to scale
Priority classCreditorAmountSource
SecuredCaisse Desjardins Ontario Credit Union Inc. · in 22 casesFirst-ranking mortgage, principal $380,000.00, on Windsor Property (469-471 Pelissier St., Windsor); First-ranking mortgage, principal $399,500.00, on Sudbury Property (381 Leslie St., Sudbury); Notices of assignment of rents on both Properties; Guarantees and postponements of claim of Nandan Fozdar (personal guarantor) dated March 31, 2021 for entirety of indebtedness — Loan agreements dated July 10, 2020 and March 31, 2021 totalling $779,500 original principal (Loan 1 $399,500; Loan 2 $380,000). Per-loan outstanding balances as of May 29, 2025: Loan 723697 PR1 $398,146.70 (+$105.41/day inter · as of 29 May 2025$741KApplication Record returnable July 18, 2025
SecuredThe Corporation of the City of Windsor (Office of the City Treasurer) · in 4 casesStatutory municipal property tax lien on Windsor Property, ranking in priority to Caisse's mortgage security — Regulatory/municipal tax-arrears class with statutory priority over mortgage security. Earlier arrears of $24,159.39 stated as outstanding since 2021 (tax certificate dated April 23, 2024). Figure of $37,873.70 is a later/confirmed arrears amount stated without a specific date in the application. — debtor: 2760831 Ontario Inc.$37.9KApplication Record returnable July 18, 2025
SecuredCity of Greater Sudbury (Tax Department) · in 5 casesStatutory municipal property tax lien on Sudbury Property, ranking in priority to Caisse's mortgage security — Regulatory/municipal tax-arrears class with statutory priority over mortgage security. Earlier arrears of $92,961.62 stated as of April 18, 2024 and a tax arrears certificate registered September 21, 2022; Caisse paid $114,068.35 to the City on the Debtor's behalf around October 3, 2024 to prevent a tax sale. Figure of $23,320.99 is a further/subsequent arrears amount stated without a specific date in the application. — debtor: 2760831 Ontario Inc.$23.3KApplication Record returnable July 18, 2025

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.

RecoveriesAs stated in the filings

Caisse Desjardins Ontario Credit Union Inc.: shortfall.EstimatedMotion Record · 20 May 2026

ClassCreditorClaimsRecoveryBasisSource
SecuredCaisse Desjardins Ontario Credit Union Inc.$349KshortfallEstimatedper the receiverMotion Record · 20 May 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

5 engagements · 3 firms — latest: BDO Canada Limited, 16 Mar – 14 May 2026, $17,163.00 in feesMotion Record · 27 May 2026

FirmPeriodHoursFeesRatesSource
(firm not named)Counsel to the receiverperiod 2 of 2 · firm not named in the heading24 Mar – 13 May 202667.2$39,811.00$592.42stated averageMotion Record · 27 May 2026
(firm not named)Counsel to the receiverperiod 1 of 2 · firm not named in the heading19 Jun 2025 – 25 Mar 202648.7$25,386.00$521.27stated averageMotion Record · 27 May 2026
BDO Canada LimitedReceiverperiod 2 of 216 Mar – 14 May 202639$17,163.00$440.08stated averageMotion Record · 27 May 2026
BDO Canada LimitedReceiverperiod 1 of 221 May 2025 – 15 Mar 2026105.6$42,045.50$398.16stated averageMotion Record · 27 May 2026
Gowling WLG (Canada) LLPCounsel to the receiver19 Jun 2025 – 25 Mar 202648.7$25,386.00$521.27stated averageMotion Record · 16 Apr 2026
Documents
16 filings
DateDocumentFile
Approval Distribution and Discharge Order - Justice Cavanagh - 27-MAY-2026
  • Presiding officer Justice Cavanagh
PDF
Approval and Vesting Order (469-471 Pelissier) - Justice Cavanagh - 27-MAY-2026
  • Presiding officer Justice Cavanagh
PDF
Endorsement - Justice Cavanagh - 27-MAY-2026
  • Presiding officer Justice Cavanagh
PDF
Motion Record returnable May 27, 2026
  • Fee schedule Engagements: Form: prose · Rows: · Money: Fees: $17.2K · Quote: for a total of $17,163.00 before disbursements and applicable taxes · Approximate: false · Period: End: 2026-05-14 · Kind: invoice · Quote: The Receiver's fees from March 16, 2026 to May 14, 2026, encompass 39.0 hours at an average hourly rate of $440.08 for a total of $17,163.00 before disbursements and applicable taxes. · Start: 2026-03-16 · Approval: State: unstated · Averages: Receiver's fees · Currency: · Invoices: · Firm text: BDO Canada Limited · Firm quote: Second Report of BDO Canada Limited in its capacity as court-appointed Receiver of 2760831 Ontario Inc. dated May 20, 2026 · Hours total: Quote: encompass 39.0 hours at an average hourly rate of $440.08 · Value: 39 · Context quote: in its capacity as court-appointed Receiver of 2760831 Ontario Inc.; Form: prose · Rows: · Money: Fees: $39.8K · Quote: for a total of $39,811.00 before disbursements and applicable taxes · Approximate: false · Period: End: 2026-05-13 · Kind: invoice · Quote: The Receiver's Counsel's fees from March 24, 2026 to May 13, 2026, encompass 67.20 hours at an average hourly rate of $592.42 for a total of $39,811.00 before disbursements and applicable taxes. · Start: 2026-03-24 · Approval: State: unstated · Averages: Receiver's Counsel's fees · Currency: · Invoices: · Hours total: Quote: encompass 67.20 hours at an average hourly rate of $592.42 · Value: 67.2 · Context quote: The Receiver's Counsel's fees from March 24, 2026 to May 13, 2026 · Firm unverified: true; Form: prose · Rows: · Money: Fees: $42K · Quote: for a total of $42,045.50 before disbursements and applicable taxes · Approximate: false · Period: End: 2026-03-15 · Kind: invoice · Quote: The Receiver's fees from May 21, 2025, to March 15, 2026, encompass 105.6 hours at an average hourly rate of $398.16 for a total of $42,045.50 before disbursements and applicable taxes. · Start: 2025-05-21 · Approval: State: unstated · Averages: Receiver's fees · Currency: · Invoices: · Firm text: BDO Canada Limited · Firm quote: Second Report of BDO Canada Limited in its capacity as court-appointed Receiver of 2760831 Ontario Inc. dated May 20, 2026 · Hours total: Quote: encompass 105.6 hours at an average hourly rate of $398.16 · Value: 105.6 · Context quote: in its capacity as court-appointed Receiver of 2760831 Ontario Inc.; Form: prose · Rows: · Money: Fees: $25.4K · Quote: for a total of $25,386.00 before disbursements and applicable taxes · Approximate: false · Period: End: 2026-03-25 · Kind: invoice · Quote: The Receiver's Counsel's fees from June 19, 2025 to March 25, 2026, encompass 48.7 hours at an average hourly rate of $521.27 for a total of $25,386.00 before disbursements and applicable taxes. · Start: 2025-06-19 · Approval: State: unstated · Averages: Receiver's Counsel's fees · Currency: · Invoices: · Hours total: Quote: encompass 48.7 hours at an average hourly rate of $521.27 · Value: 48.7 · Context quote: The Receiver's Counsel's fees from June 19, 2025 to March 25, 2026 · Firm unverified: true
  • Recovery outcome Entries: per estimated · Stated on: 2026-05-20 · Table missing:
PDF
Factum of the ReceiverPDF
Endorsement of Cavanagh, J. dated April 16, 2026
  • Presiding officer Justice Cavanagh
PDF
Motion Record returnable April 16, 2026
  • Fee schedule Engagements: Form: prose · Rows: · Money: Fees: $42K · Quote: for a total of $42,045.50 before disbursements and applicable taxes · Approximate: false · Period: End: 2026-03-15 · Kind: invoice · Quote: The Receiver's fees from May 21, 2025, to March 15, 2026, encompass 105.6 hours at an average hourly rate of $398.16 for a total of $42,045.50 before disbursements and applicable taxes. · Start: 2025-05-21 · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: BDO Canada Limited · Firm quote: Lawyers for the Receiver BDO Canada Limited · Hours total: Quote: encompass 105.6 hours at an average hourly rate of $398.16 · Value: 105.6 · Context quote: BDO was appointed as Receiver, without security, of the assets, undertakings and properties of the Debtor; Form: prose · Rows: · Money: Fees: $25.4K · Quote: for a total of $25,386.00 before disbursements and applicable taxes · Approximate: false · Period: End: 2026-03-25 · Kind: invoice · Quote: The Receiver's Counsel's fees from June 19, 2025 to March 25, 2026, encompass 48.7 hours at an average hourly rate of $521.27 for a total of $25,386.00 before disbursements and applicable taxes. · Start: 2025-06-19 · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: Gowling WLG (Canada) LLP · Firm quote: Lawyers for the Receiver BDO Canada Limited · Hours total: Quote: encompass 48.7 hours at an average hourly rate of $521.27 · Value: 48.7 · Context quote: The Receiver's Counsel's fees from June 19, 2025 to March 25, 2026, encompass 48.7 hours at an average hourly rate of $521.27 for a total of $25,386.00 before disbursements and applicable taxes.
  • Recovery outcome Entries: per estimated · Table missing:
PDF
Order of Cavanagh, J. dated April 16, 2026 (Approval and Distribution)
  • Presiding officer Justice Cavanagh
PDF
Order of Cavanagh, J. dated April 16, 2026 (Approval and Vesting)
  • Presiding officer Justice Cavanagh
PDF
Confirmation of MotionPDF
Book of AuthoritiesPDF
Factum of the Moving PartyPDF
Application Record returnable July 18, 2025
  • Secured creditors $37.9K · Note: Regulatory/municipal tax-arrears class with statutory priority over mortgage security. Earlier arrears of $24,159.39 stated as outstanding since 2021 (tax certificate dated April 23, 2024). Figure of $37,873.70 is a later/confirmed arrears amount stated without a specific date in the application. · Page: 13 · Debtor: 2760831 Ontario Inc. · Creditor: The Corporation of the City of Windsor (Office of the City Treasurer) · Security: Statutory municipal property tax lien on Windsor Property, ranking in priority to Caisse's mortgage security
PDF
Endorsement of Cavanagh, J. dated July 18, 2025
  • Presiding officer Justice Cavanagh
PDF
Order of Cavanagh, J. dated July 18, 2025
  • Counsel Soloway Wright LLP
  • Presiding officer Justice Cavanagh
PDF
Notice and Statement of Receiver
  • Secured creditors $710K · Page: 1 · As of: 2024-06-03 · Debtor: 2760831 Ontario Inc. · Creditor: Caisse Desjardins Ontario Credit Union Inc. · Security: First priority ranking collateral charge/mortgages of land registered against the two residential rental properties (381 Leslie Street, Sudbury, ON and 469-471 Pelissier Street, Windsor, ON), together with assignments of rent and insurance proceeds
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “2760861 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/2760861-ontario-inc

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Sources last checked · summary updated 7 August 2026 · Report a correction · Printed from proceedings.ca/case/2760861-ontario-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.