2770603 Ontario Inc. was placed in court-appointed receivership by order of the Ontario Superior Court of Justice entered September 12, 2025, on the application of Bank of Montreal under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act; a further order in the receivership followed October 8, 2025. Grant Thornton Limited was appointed receiver and manager. BMO holds a first-ranking mortgage over the company's real property, registered for a principal amount of $5,720,000.00, and a general security agreement, with a payout statement of $3,723,114.64 reviewed and accepted by the Receiver as at May 19, 2026; personal guarantees from principals Soyab Kika and Bashir Lokhat also secure the debt. The Canada Revenue Agency filed a proof of claim on October 1, 2025, for deemed-trust and unsecured GST/HST and source-deduction amounts.
The court granted an approval and vesting order for the sale to 1000531478 Ontario Inc. Closing terms, as extracted: Vesting occurs upon delivery of a Receiver's Certificate confirming payment and satisfaction of closing conditions. Sealed: First Report.
Source: Approval and Vesting Order of Justice Garson dated June 5, 2026.pdf
Distribution and Ancillary Order of Justice Garson dated June 5, 2026.pdf — Distribution order
Supplementary Motion Record returnable June 5, 2026.pdf — Application / notice of application
The court issued a further order in the receivership of 2770603 Ontario Inc. on October 8, 2025.
Source: Amendment dated October 8, 2025 to the Receivership Order.PDF
The court granted Bank of Montreal's application, appointing Grant Thornton Limited receiver and manager of 2770603 Ontario Inc.
Application Record returnable September 12, 2025.PDF was filed. Court file CV-25-00002299-0000.
Source: Application Record returnable September 12, 2025.PDF
Debtor
2770603 Ontario Inc
Receiver
Doane Grant Thornton
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Garson | Ontario Superior Court of Justice | 2 orders, Jun 2026 | 4 cases on record |
| Justice Leitch | Ontario Superior Court of Justice | 2 orders, Oct 2025 | 5 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDoane Grant Thornton | Chaitons LLP | 29 May 2026 | Factum · 29 May 2026 |
| ApplicantBank of Montreal | Miller Thomson LLP | 12 Sep 2025 | Order · 12 Sep 2025 |
| CreditorBank of Montreal | Miller Thomson LLP | 3 Sep 2025 | Factum · 3 Sep 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) - source deductions deemed trust · in 985 casesDeemed trust class claim; portion of total source deductions claim of $7,065.28 — debtor: 2770603 Ontario Inc. · as of 1 Oct 2025 | $4.09K | First Report of the Receiver dated May 27, 2026.pdf |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
4 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.
2 transactions · 1 proposed · 1 approved — Receiver entered into Purchase Agreement, seeking Court approval and vesting orderFirst Report of the Receiver dated May 27, 2026.pdf · 27 May 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Gales Gas Bars Limitedthe Real Property · real property · agreement 14 Apr 2026 | Subscribers | Proposed | First Report of the Receiver dated May 27,… |
| 1000531478 Ontario Inc.the Purchased Assets described in the Sale Agreement, including the real property municipally known as 324 Grand Avenue East, Chatham, Ontario · real property · agreement 14 Apr 2026 | not stated | Approved5 Jun 2026 | Approval and Vesting Order of Justice Garson… |
Unsecured creditors: no distribution.EstimatedMotion Record returnable May 27, 2026.pdf · 27 May 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the receiver | Motion Record returnable May 27, 2026.pdf · 27 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.
1 engagement · 1 firm — Chaitons LLP, 12 Jan – 28 Apr 2026, in feesFirst Report of the Receiver dated May 27, 2026.pdf · 27 May 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Chaitons LLPCounsel to the receiver | 12 Jan – 28 Apr 2026 | 2 people | First Report of the Receiver dated May 27, 2026.pdf · 27 May 2026 | ||
11 blurred figures above
What the firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Approval and Vesting Order of Justice Garson dated June 5, 2026.pdf
| PDF · Subscribers | |
Distribution and Ancillary Order of Justice Garson dated June 5, 2026.pdf
| PDF · Subscribers | |
Supplementary Motion Record returnable June 5, 2026.pdf
| PDF · Subscribers | |
Factum of the Receiver dated May 29, 2026.pdf
| PDF · Subscribers | |
First Report of the Receiver dated May 27, 2026.pdf
| PDF · Subscribers | |
Motion Record returnable May 27, 2026.pdf
| PDF · Subscribers | |
Amendment dated October 8, 2025 to the Receivership Order.PDF
| PDF · Subscribers | |
Endorsement of Justice Leitch dated October 8, 2025.PDF
| PDF · Subscribers | |
Endorsement of Justice M.A. COOK dated September 12, 2025.PDF
| PDF · Subscribers | |
Receivership Order dated September 12, 2025.PDF
| PDF · Subscribers | |
Factum of the Applicant dated September 3, 2025.PDF
| PDF · Subscribers | |
Application Record returnable September 12, 2025.PDF
| PDF · Subscribers | |
| Service List.DOCX | 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., “2770603 Ontario Inc” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/2770603-ontario-inc
Sources last checked · summary updated 6 September 2026 · Report a correction · Printed from proceedings.ca/case/2770603-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.