#Sale
Approval and Vesting Order of Justice Garson dated June 5, 2026.pdf — Approval and vesting order
2770603 Ontario Inc
FollowActive
- 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-25-00002299-0000
Filings held13
Last activity5 Jun 2026
On the record374 days
Secured debt$3.72M
OverviewSummary updated
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.
Proceedings AIAsk this case — answers cite the filings
Case updates12 dated entries · 1 undated
#Distribution
Distribution and Ancillary Order of Justice Garson dated June 5, 2026.pdf — Distribution order
#Filing
Supplementary Motion Record returnable June 5, 2026.pdf — Application / notice of application
#Order
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
#Order
The court granted Bank of Montreal's application, appointing Grant Thornton Limited receiver and manager of 2770603 Ontario Inc.
#Filing
Application Record returnable September 12, 2025.PDF was filed. Court file CV-25-00002299-0000.
Source: Application Record returnable September 12, 2025.PDF
Undated filings1 — no date appears on the document · show
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Parties
Debtor
2770603 Ontario Inc
Receiver
Doane Grant Thornton
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Garson | Ontario Superior Court of Justice | 1 order, Jun 2026 | 4 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDoane Grant Thornton | Chaitons LLP | 29 May 2026 | Factum · 29 May 2026 |
| CreditorBank of Montreal | Miller Thomson LLP | 3 Sep 2025 | Factum · 3 Sep 2025 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Bank of Montreal (BMO) · in 279 casesFirst ranking charge/mortgage on Real Property (registered principal amount $5,720,000) and General Security Agreement over all personal property and undertaking of the Debtor — Primary secured creditor; payout statement reviewed and accepted by Receiver as at May 19, 2026 ('BMO Indebtedness'); registered principal of $5,720,000 mortgage is not the balance. Personal guarantees of principals Soyab Kika and Bashir Lokhat also exist. — debtor: 2770603 Ontario Inc. · as of 19 May 2026 | $3.72M | First Report of the Receiver dated May 27, 2026.pdf |
| 8 | Unsecured | Canada Revenue Agency (CRA) - source deductions deemed trust · in 926 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 |
| 8 | Unsecured | Canada Revenue Agency (CRA) - GST/HST deemed trust · in 926 casesDeemed trust class claim; portion of total GST/HST claim of $3,234.84 — debtor: 2770603 Ontario Inc. · as of 1 Oct 2025 | $3.15K | First Report of the Receiver dated May 27, 2026.pdf |
| 8 | Unsecured | Canada Revenue Agency (CRA) - source deductions · in 926 casesUnsecured portion of source deductions claim totaling $7,065.28, of which $4,087.75 is a deemed trust claim (recorded separately) — debtor: 2770603 Ontario Inc. · as of 1 Oct 2025 | $2.98K | First Report of the Receiver dated May 27, 2026.pdf |
| 8 | Unsecured | Canada Revenue Agency (CRA) - GST/HST · in 926 casesUnsecured portion of GST/HST claim totaling $3,234.84, of which $3,147.60 is a deemed trust claim (recorded separately) — debtor: 2770603 Ontario Inc. · as of 1 Oct 2025 | $87 | First Report of the Receiver dated May 27, 2026.pdf |
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 processAs stated in the filings
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 | SealedPurchase price is contained in the sealed Purchase Agreement (Confidential Appendix 1); redacted copy filed as Appendix 4 | 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… |
AdvisorsAvison Young (listing broker)First Report of the Receiver dated May 27, 2026.pdf
Closing termsVesting occurs upon delivery of a Receiver's Certificate confirming payment and satisfaction of closing conditions.Approval and Vesting Order of Justice Garson dated June 5, 2026.pdf
Sealed materialsFirst ReportApproval and Vesting Order of Justice Garson dated June 5, 2026.pdf
RecoveriesAs stated in the filings
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.
Fees and ratesAs stated in the filings
1 engagement · 1 firm — Chaitons LLP, 12 Jan – 28 Apr 2026, $6,313.78 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 | 11 | $6,313.78ex. tax | $563 – $623.392 people | First Report of the Receiver dated May 27, 2026.pdf · 27 May 2026 | ||||||||||||||||||||
2 people — Chaitons LLP, 12 Jan – 28 Apr 2026
| |||||||||||||||||||||||||
Top rate $623.39 · 22nd percentile of counsel rates, 2026 · of 69
Documents
13 filings
| Date | Document | File |
|---|---|---|
Approval and Vesting Order of Justice Garson dated June 5, 2026.pdf
| ||
Distribution and Ancillary Order of Justice Garson dated June 5, 2026.pdf
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Supplementary Motion Record returnable June 5, 2026.pdf
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Factum of the Receiver dated May 29, 2026.pdf
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First Report of the Receiver dated May 27, 2026.pdf
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Motion Record returnable May 27, 2026.pdf
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Amendment dated October 8, 2025 to the Receivership Order.PDF
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Endorsement of Justice Leitch dated October 8, 2025.PDF
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Application Record returnable September 12, 2025.PDF
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Endorsement of Justice M.A. COOK dated September 12, 2025.PDF
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Receivership Order dated September 12, 2025.PDF
| ||
Factum of the Applicant dated September 3, 2025.PDF
| ||
| Service List.DOCX | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “2770603 Ontario Inc” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/2770603-ontario-inc