2770583 Ontario Inc. has been in court-appointed receivership since August 12, 2025, when the Ontario Superior Court of Justice made a receivership order under s. 243 of the BIA in file CV-25-00748149-00CL. Royal Bank of Canada, holder of a first mortgage over 428 King Street East, Cobourg, an April 27, 2022 general security agreement and the sole Ontario PPSA registration against the debtor, claimed $3,401,330.58 as at June 16, 2025, after the mortgage term loan ran two months in arrears ($57,163.68) and demand and NITES issued May 7, 2025 expired May 20, 2025. The Receiver's First Report, dated July 29, 2026, restated RBC's claim at $3,252,583.18 and reported CRA deemed trust claims of $19,404.77. Town of Cobourg property tax arrears of $125,661.38 as at June 12, 2026 are to be paid by the Receiver on closing of the sale transaction.
The court granted an approval and vesting order for the sale to 1001062724 Ontario Inc. Closing terms, as extracted: Vesting occurs upon delivery of a Receiver's Certificate confirming payment of the purchase price and satisfaction of closing conditions.
Source: Approval and Vesting Order dated August 11, 2026.pdf
The officer filed report no. First Report. The Gas Station operated by the Debtor had already ceased operations before the Receiver's appointment, and the Receiver has since taken possession of the Real Property and negotiated a sale of it, with no ongoing business operations continuing.
Source: First Report of the Receiver dated July 29, 2026.pdf
Court placed the debtor in receivership on RBC's security, following the bank's May 7, 2025 demand and NITES, which expired May 20, 2025.
Outcome brief
428 King Street East: the Cobourg Esso the receiver never listed
The owner of a closed Cobourg gas station went into receivership on RBC's application in August 2025. Grant Thornton got an appraisal, environmental assessments and three realtors' proposals, then asked four interested parties for offers; on August 11, 2026, Justice Dietrich approved a sale to 1001062724 Ontario Inc. at a sealed price above the appraisal.
Debtor
2770583 Ontario Inc
Receiver
Doane Grant Thornton
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dietrich | Ontario Superior Court of Justice | 3 orders, Aug 2026 | 132 cases on record |
| Justice Black | Ontario Superior Court of Justice | 2 orders, Aug 2025 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDoane Grant Thornton | Aird & Berlis LLP | 11 Aug 2026 | Order · 11 Aug 2026 |
| ApplicantRoyal Bank of Canada | Soloway Wright LLP | 12 Aug 2025 | Order · 12 Aug 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (deemed trust priority claim) · in 985 casesDeemed trust class claim comprising $6,420.80 source deductions and $12,983.97 HST, per proofs of claim received by the Receiver and reported in the First Report dated July 29, 2026 (the 'CRA Priority Claim'); ranks as a priority/deemed-trust claim ahead of ordinary security under the BIA rather than as a registered security interest. The balance of CRA's source deductions claim ($1,846.66) is unsecured - see unsecured_creditors. — debtor: 2770583 Ontario Inc. · as of 29 Jul 2026 | $19.4K | Motion Record Returnable August 11, 2026.pdf |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured |
3 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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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.
Sale approved — Transaction approved by the courtApproval and Vesting Order dated August 11, 2026.pdf · 11 Aug 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1001062724 Ontario Inc.the Purchased Assets (as defined in the Sale Agreement), including, without limitation, the Real Property · real property · agreement 24 Apr 2026 | Subscribers | Approved11 Aug 2026 | Approval and Vesting Order dated August 11,… |
1 engagement · 1 firm — Aird & Berlis LLP, Motion Record Returnable August 11, 2026.pdf · 30 Jul 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Aird & Berlis LLPCounsel to the receiver | — | — | Motion Record Returnable August 11, 2026.pdf · 30 Jul 2026 |
2 blurred figures above
What the firm billed — each as the filing states it, with its source.
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See all plansProfessional fees
$42.8K
As at 31 May 2026First Report of the Receiver dated July 29, 2026.pdf
| Date | Document | File |
|---|---|---|
Approval and Vesting Order dated August 11, 2026.pdf
| PDF · Subscribers | |
Distribution and Ancillary Relief Order dated August 11, 2026.pdf
| PDF · Subscribers | |
Endorsement of Justice J. Dietrich dated August 11, 2026.pdf
| PDF · Subscribers | |
Motion Record Returnable August 11, 2026.pdf
| PDF · Subscribers | |
First Report of the Receiver dated July 29, 2026.pdf
| PDF · Subscribers | |
Endorsement of Justice W.D Black dated August 12, 2025.pdf
| PDF · Subscribers | |
Receivership Order dated August 12, 2025.pdf
| PDF · Subscribers | |
Application record dated July 31, 2025.pdf
| 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., “2770583 Ontario Inc” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/2770583-ontario-inc
Sources last checked · summary updated 11 August 2026 · Report a correction · Printed from proceedings.ca/case/2770583-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.