2851901 Ontario Inc. and MD Developments Inc.

2851901 Ontario Inc. and MD Developments Inc. are in court-appointed receivership before the Ontario Superior Court of Justice (Commercial List), where KSV Restructuring Inc. was appointed receiver and manager on May 20, 2026 under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, on the application of Extend Financial (CV) Holdings Inc. and Extend Financial Inc. The applicants hold first-ranking charges and mortgages against Units 1 and 3-14, granted under thirteen mortgage commitments and home equity credit facility agreements, and were owed approximately $5.9 million as of February 12, 2026, with interest and costs continuing to accrue. The receiver reports the Real Property as 2851901 Ontario Inc.'s only known asset, with the Mortgaged Units listed at approximately $6.5 million in the aggregate before applicable taxes. The proceeding is active under court file CV-26-00000165-0000.