First Supplement to the Sixth Report of the Receiver dated July 30, 2026 — Court officer report
311 Conacher Drive, Kingston, Ontario 2849, 2851, 2853, 2855 and 2857 Islington Avenue, Toronto, Ontario
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-23-00701672-00CL
311 Conacher Drive, Kingston, and 2849, 2851, 2853, 2855 and 2857 Islington Avenue, Toronto, have been in court-appointed receivership since December 6, 2023, when the Ontario Superior Court of Justice (Commercial List) appointed RSM Canada Limited receiver and manager on the application of Cameron Stephens Mortgage Capital Ltd., under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, in court file CV-23-00701672-00CL.
Responding Motion Record of 1604706 Ontario Inc. dated July 20, 2026 — Response / objection pleading
Order of the Court – Approval and Vesting (Toronto Property) dated December 12, 2025 — Approval and vesting order
Aide Memoir of the Toronto Purchaser dated December 11, 2025 — Application / notice of application
Motion Record of the Toronto Purchaser, Arjun Anand dated December 10, 2025 — Application / notice of application
Book of Authorities of the Receiver dated December 4, 2025 — Application / notice of application
Motion Record of the Receiver (Approval and Vesting Order Islington) dated November 30, 2025 — Application / notice of application
The court granted an approval and vesting order for the sale to 1000321689 Ontario Ltd. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of closing conditions.
Source: Order of the Court – Approval and Vesting dated October 17, 2025
Motion Record of the Receiver (Sale Approval Conacher) dated October 7, 2025 — Application / notice of application
Book of Authorities of the Receiver (Appeal) dated April 29, 2025 — Application / notice of application
Compendium of the Receiver (Appeal) dated April 29, 2025 — Application / notice of application
Book of Authorities of the Respondents AJGL Group Inc. and 1001079582 Ontario Inc. dated March 24, 2025 — Application / notice of application
Book of Authorities of the Respondents Isaam A. Saad and 2858087 Ontario Inc. dated March 24, 2025 — Application / notice of application
Compendium of the Respondents AJGL Group Inc. and 1001079582 Ontario Inc. dated March 24, 2025 — Application / notice of application
Compendium of the Respondents Isaam A. Saad and 2858087 Ontario Inc. dated March 24, 2025 — Application / notice of application
Factum of the Respondents Isaam A. Saad and 2858087 Ontario Inc. dated March 24, 2025 — Factum / brief
Appellant’s Appeal Book Compendium served January 23, 2025 — Application / notice of application
Book of Authorities of the Appellant served January 23, 2025 — Application / notice of application
Notice of Appeal of Arjun Anand, in trust – dated December 16, 2024 — Application / notice of application
Order of the Court of Appeal (Sales Process) released October 27, 2025 was filed.
Source: Order of the Court of Appeal (Sales Process) released October 27, 2025
Aide Memoir of AJGL Group Inc. and 1001079582 Ontario Inc. dated December 10, 2024 — Application / notice of application
Receiver’s Responding Submissions to Aide Memoir of AJGL Group Inc. and 1001079582 Ontario Inc. dated December 10, 2024 — Response / objection pleading
Aide Memoir of AJGL Group Inc. and 1001079582 Ontario Inc. dated December 9, 2024 — Response / objection pleading
Aide Memoir of Arjun Anand, in trust (the Toronto Purchaser) dated December 9, 2024 — Response / objection pleading
Third Supplement to the Receiver’s Third Report dated December 7, 2024 — Court officer report
Motion Record of Issam A. Saad and 2858087 Ontario Inc. dated December 3, 2024 — Application / notice of application
Responding Record of 2478659 Ontario Ltd. dated December 2, 2024 — Response / objection pleading
Supplementary Motion Record of the Receiver dated November 29, 2024 — Application / notice of application
Motion Record of the Receiver (Approval and Vesting Order re Toronto Properties) dated November 25, 2024 — Application / notice of application
The court granted an approval and vesting order for the sale to 2349891 Ontario Inc. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction.
Source: Kingston Property Approval and Vesting Order dated October 9, 2024
Responding Record of the Second Mortgagee, 2462686 Ontario Inc. dated October 7, 2024 — Response / objection pleading
Responding Record of the Third Party Mortgagee, 2478659 Ontario Inc. dated October 7, 2024 — Response / objection pleading
Motion Record of the Receiver (Approval and Vesting Order re Kingston Property) dated October 1, 2024 — Application / notice of application
The court granted an approval and vesting order for the sale to Lakeshore Luxe Design and Build Group Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the Purchase Price and satisfaction of closing conditions.
Source: Toronto Property Sale Approval and Vesting Order dated July 24, 2024
Ancillary Order (approval of fees, disbursements, sealing) dated July 24, 2024 — Order (other)
The court appointed RSM Canada Limited as receiver and manager, on the application of CAMERON STEPHENS MORTGAGE CAPITAL LTD.. Court file CV-23-00701672-00CL.
Source: Appointment Order dated December 6, 2023 (with effect from December 22, 2023)
Motion Record of the Receiver (Approval and Vesting Order re Toronto Properties) dated July 17, 2024 was filed. Court file CV-23-00701672-00CL.
Source: Motion Record of the Receiver (Approval and Vesting Order re Toronto Properties) dated July 17, 2024
Order of December 6, 2023, opening the receivership on the application of Cameron Stephens Mortgage Capital Ltd., with RSM Canada Limited appointed receiver and manager.
Source: Appointment Order dated December 6, 2023 (with effect from December 22, 2023)
Notice of Application (for a Receiver) dated June 23, 2023 was filed. Court file CV-23-00701672-00CL.
Source: Notice of Application (for a Receiver) dated June 23, 2023
Undated filings1 — no date appears on the document · show
Debtor
311 Conacher Drive, Kingston, Ontario 2849, 2851, 2853, 2855 and 2857 Islington Avenue, Toronto, Ontario
Receiver
TDB Restructuring
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Black | Ontario Superior Court of Justice | 6 orders, Oct 2024 – Dec 2024 | 176 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 4 orders, Oct 2025 – Dec 2025 | 220 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 3 orders, Jul 2024 | 288 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverTDB Restructuring | Rothstein LLP | 18 Jul 2024 | Factum · 18 Jul 2024 |
| ApplicantCameron Stephens Mortgage Capital Ltd | Garfinkle, Biderman LLP | 23 Jun 2023 | Application · 23 Jun 2023 |
| Debtor311 Conacher Drive, Kingston, Ontario 2849, 2851, 2853, 2855 and 2857 Islington Avenue, Toronto, Ontario | Blaney McMurtry LLP | — | Service list |
| CreditorAJGL Group Inc | Denis Litigation | 24 Mar 2025 | Factum · 24 Mar 2025 |
| CreditorArjun Anand | Teplitsky, Colson LLP | 16 Dec 2024 | Application · 16 Dec 2024 |
| CreditorElena Terpselas, Estate of Nicholas Kyriacopoulos, deceased | Robins Appleby LLP | — | Service list |
| CreditorInterested AJGL Group Inc | Denis Litigation | 10 Dec 2024 | Application · 10 Dec 2024 |
| CreditorInterested Issam A | Crawley MacKewn Brush LLP | 3 Dec 2024 | Application · 3 Dec 2024 |
| CreditorIssam A | Crawley MacKewn Brush LLP | 3 Dec 2024 | Factum · 3 Dec 2024 |
| CreditorLakeshore Luxe Design and Build Group Inc | Corsianos Lee | — | Service list |
| CreditorRon Barbaro | Stikeman Elliott LLP | — | Service list |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Cameron Stephens Mortgage Capital Ltd. · in 11 casesas of approximately, per First Report — General Security Agreements; first ranking charge against Kingston Property; collateral charge against Toronto Property (registered amount $15,600,000); assignments of rents and leases; guarantees from 500 Inc. and Nicholas Kyriacopoulos — Debtors indebted 'in the amount of approximately $13 million' per First Report para 11; registered charge amount is $15,600,000 (principal/registration ceiling, not balance); Receiver obtained legal opinion confirming valid and enforceable first charge against Toronto Property; personal guarantee also given by Nicholas | $13M | Receiver’s First Report to the Court dated July 16, 2024 |
| Secured | City of Toronto · in 37 casesas of time of closing of Toronto Property sale — Statutory lien for unpaid property taxes on Toronto Property — Amount is unpaid property taxes owing on Toronto Property, to be paid on closing plus further interest/fees; treated as priority payment in proposed Interim Distribution — debtor: 5004591 Ontario Inc. | $202K | Receiver’s First Report to the Court dated July 16, 2024 |
| Secured | 2462686 Ontario Inc.as of October 23, 2020 (registration date) — Second ranking Charge against Kingston Lands, Instrument No. FC312121, registered principal sum of $5,000,000; also General Security Agreement and Share Pledge Agreement over Nicholas Kyriacopoulos's shares in 500 Inc. — Registered principal amount is not stated as an outstanding balance — debtor: Conacher Kingston Holdings Inc. | — | Receiver’s First Report to the Court dated July 16, 2024 |
| Secured | 2478659 Ontario Ltd.as of November 3, 2022 (registration date) — Third ranking Charge against Kingston Lands, Instrument No. FC362038, registered principal sum of $8,500,000 — Registered principal amount is not stated as an outstanding balance — debtor: Conacher Kingston Holdings Inc. | — | Receiver’s First Report to the Court dated July 16, 2024 |
| Secured | 2083053 Ontario Inc.as of February 16, 2023 (registration date) — PPSA Financing Statement No. 20230216 1258 1590 1471 — Nature and amount of registration not further described — debtor: Conacher Kingston Holdings Inc. | — | Receiver’s First Report to the Court dated July 16, 2024 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
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.
12 transactions · 6 not completed · 4 approved · 1 terminated · 1 proposed — Following the termination of the 100 Inc. Agreement, the Receiver determined that the Toronto APS reflected the highest and best offer for the Toronto Property. The Receiver designated the Toronto APS as the successful bid and commenced this motion seeking its approval.Aide Memoir of the Receiver dated December 11, 2025 · 11 Dec 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Lakeshore Luxe Design and Build Group Inc.5004591 Ontario Inc.'s right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · real property · nominee/assignee: 1000944028 Ontario Inc. · agreement 12 Jun 2024 | not stated | Not completeddate not stated | Receiver’s Second Report to the Court dated… |
| 2349891 Ontario Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · nominee/assignee: Crestmount Developments (Kingston) Limited · agreement 13 Aug 2024 | not stated | Approved9 Oct 2024 | Kingston Property Approval and Vesting Order… |
| Crestmount Developments (Kingston) Limitedthe Kingston Property · real property · nominee/assignee: permitted assignee or as it may direct · agreement 13 Aug 2024 | Sealedprice terms are part of the confidential offer summary and unredacted Kingston APS, which the Receiver seeks to seal | Approved | Receiver’s Third Report to the Court dated… |
| Lakeshore Lux and Design Build Group Inc.the Toronto Property · real property · nominee/assignee: 1000944028 Ontario Inc. · agreement 12 Jun 2024 | not stated | Not completeddate not stated | Receiver’s Third Report to the Court dated… |
| purchaser under July 2024 order for Islington Property, failed to close, unnamedthe Islington Property · real property | not stated | Not completeddate not stated | Third Supplement to the Receiver’s Third Report… |
| 1001079582 Ontario Inc.the Toronto Property · real property | not stated | Not completed | Order of the Court – Sales Process dated… |
| Anandthe Toronto Property · real property · nominee/assignee: a company to be formed · agreement 26 Sep 2024 | not stated | Not completed | Order of the Court – Sales Process dated… |
| Arjun Anandthe Toronto Property · real property · nominee/assignee: Arjun Anand, in Trust for a Company to Be Incorporated · agreement 7 Oct 2024 | SealedPrice not disclosed; only percentage differences between offers were given. | Not completed | Order of the Court of Appeal (Sales Process)… |
| 1000321689 Ontario Ltd.the Debtor's right, title and interest in and to the Purchased Assets · real property · agreement 24 Jun 2025 | not stated | Approved17 Oct 2025 | Order of the Court – Approval and Vesting dated… |
| 100 Inc.the Toronto Property · real property | not stated37% higher bid than the Toronto APS; deposit forfeited upon default | Terminated | Aide Memoir of the Receiver dated December 11,… |
| Lakeshore Luxe Design and Build Group Inc.the Toronto Property · real property · nominee/assignee: 1000944028 Ontario Inc. · agreement 7 Oct 2024 | SealedPrice details withheld from this report; further offer terms without price described | Proposed | Aide Memoir of the Receiver dated December 11,… |
| Arjun Anandthe Toronto Property · real property · nominee/assignee: a company to be formed · agreement 26 Sep 2024 | not stated | Approved12 Dec 2025 | Order of the Court – Approval and Vesting… |
Unsecured creditors: 31 %. First Lien Lenders paid in full · First Source short.Book of Authorities of the Respondents AJGL Group Inc. and 1001079582… · 24 Mar 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | the two secured creditors | — | short by $50M | Estimated | Book of Authorities of the Receiver · 4 Dec 2025 |
| Secured | First Lien Lenders | — | paid in full | Final | Book of Authorities of the Respondents AJGL Group Inc. and 1001079582… · 24 Mar 2025 |
| Secured | First Source | $17.8M | shortfallinterim | per the receiver | Book of Authorities of the Receiver · 4 Dec 2025 |
| Secured | King Capital Mortgage Investment Corporation | — | shortfall | Estimatedper the receiver | Book of Authorities of the Receiver · 4 Dec 2025 |
| Unsecured | creditors with larger claims | — | 31 % | — | Book of Authorities of the Respondents AJGL Group Inc. and 1001079582… · 24 Mar 2025 |
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.
2 engagements · 1 firm — latest: (firm not named), —, $34,795.53 incl. taxReceiver’s Third Report to the Court · 25 Nov 2024
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| (firm not named)Receiverperiod 2 of 2 · firm not named in the heading | — | — | $34,795.53incl. tax | $636.59stated average | Receiver’s Third Report to the Court · 25 Nov 2024 |
| (firm not named)capacity not statedperiod 1 of 2 · firm not named in the heading | — | — | — | $612.24stated average | Receiver’s First Report to the Court · 16 Jul 2024 |
| Date | Document | File |
|---|---|---|
| First Supplement to the Sixth Report of the Receiver dated July 30, 2026 | ||
| Responding Motion Record of 1604706 Ontario Inc. dated July 20, 2026 | ||
| Affidavit of Simion Kronenfeld sworn July 17, 2026 - 1 of 2 | ||
| Affidavit of Simion Kronenfeld sworn July 17, 2026 - 2 of 2 | ||
| Motion Record of the Receiver dated June 23, 2026 | ||
Endorsement of the Court dated June 15, 2026
| ||
| Receiver’s Sixth Report to Court dated June 8, 2026 | ||
Endorsement of the Court dated December 12, 2025
| ||
Order of the Court – Ancillary Relief dated December 12, 2025
| ||
Order of the Court – Approval and Vesting (Toronto Property) dated December 12, 2025
| ||
Aide Memoir of the Receiver dated December 11, 2025
| ||
| Aide Memoir of the Toronto Purchaser dated December 11, 2025 | ||
Motion Record of the Toronto Purchaser, Arjun Anand dated December 10, 2025
| ||
Book of Authorities of the Receiver dated December 4, 2025
| ||
Factum of the Receiver dated December 4, 2025
| ||
| Supplement to the Receiver’s Fifth Report dated December 4, 2025 | ||
| Motion Record of the Receiver (Approval and Vesting Order Islington) dated November 30, 2025 | ||
| Receiver’s Fifth Report to the Court dated November 28, 2025 | ||
| Order of the Court of Appeal (Costs Decision) dated November 25, 2025 | ||
Order of the Court of Appeal (Sales Process) released October 27, 2025
| ||
Endorsement of the Court dated October 17, 2025
| ||
Order of the Court – Ancillary Relief dated October 17, 2025
| ||
Order of the Court – Approval and Vesting dated October 17, 2025
| ||
Factum of the Receiver (Approval and Vesting Order) dated October 14, 2025
| ||
| Motion Record of the Receiver (Sale Approval Conacher) dated October 7, 2025 | ||
| Receiver’s Fourth Report to the Court dated October 6, 2025 | ||
| Supplementary Book of Authorities of the Appellant Served May 16, 2025 | ||
Factum of the Receiver (Appeal) dated April 30, 2025
| ||
Book of Authorities of the Receiver (Appeal) dated April 29, 2025
| ||
| Compendium of the Receiver (Appeal) dated April 29, 2025 | ||
Book of Authorities of the Respondents AJGL Group Inc. and 1001079582 Ontario Inc. dated March 24, 2025
| ||
| Book of Authorities of the Respondents Isaam A. Saad and 2858087 Ontario Inc. dated March 24, 2025 | ||
| Compendium of the Respondents AJGL Group Inc. and 1001079582 Ontario Inc. dated March 24, 2025 | ||
| Compendium of the Respondents Isaam A. Saad and 2858087 Ontario Inc. dated March 24, 2025 | ||
Factum of the Respondents AJGL Group Inc. and 1001079582 Ontario Inc. dated March 24, 2025
| ||
Factum of the Respondents Isaam A. Saad and 2858087 Ontario Inc. dated March 24, 2025
| ||
| Appellant’s Appeal Book Compendium served January 23, 2025 | ||
| Appellant’s Appeal Record served January 23, 2025 | ||
| Appellant’s Factum served January 23, 2025 | ||
Book of Authorities of the Appellant served January 23, 2025
| ||
Notice of Appeal of Arjun Anand, in trust – dated December 16, 2024
| ||
Aide Memoir of AJGL Group Inc. and 1001079582 Ontario Inc. dated December 10, 2024
| ||
Endorsement of the Court dated December 10, 2024
| ||
Order of the Court – Sales Process dated December 10, 2024
| ||
| Receiver’s Responding Submissions to Aide Memoir of AJGL Group Inc. and 1001079582 Ontario Inc. dated December 10, 2024 | ||
Supplemental Endorsement of the Court dated December 10, 2024
| ||
| Aide Memoir of AJGL Group Inc. and 1001079582 Ontario Inc. dated December 9, 2024 | ||
| Aide Memoir of Arjun Anand, in trust (the Toronto Purchaser) dated December 9, 2024 | ||
| Affidavit of Jamie Erlick sworn December 8, 2024 | ||
Third Supplement to the Receiver’s Third Report dated December 7, 2024
| ||
Endorsement of the Court dated December 4, 2024
| ||
| Affidavit of Jamie Erlick sworn December 3, 2024 | ||
| Affidavit of Simion Kronenfeld sworn December 3, 2024 | ||
Factum of Issam A. Saad and 2858087 Ontario Inc. dated December 3, 2024
| ||
Motion Record of Issam A. Saad and 2858087 Ontario Inc. dated December 3, 2024
| ||
| Second Affidavit of Simion Kronenfeld sworn December 3, 2024 | ||
Supplementary Factum of the Receiver dated December 3, 2024
| ||
Factum of the Receiver (Approval and Vesting Order re Toronto Property) dated December 2, 2024
| ||
| Responding Record of 2478659 Ontario Ltd. dated December 2, 2024 | ||
| Supplement to the Third Report dated November 29, 2024 | ||
| Supplementary Motion Record of the Receiver dated November 29, 2024 | ||
| Motion Record of the Receiver (Approval and Vesting Order re Toronto Properties) dated November 25, 2024 | ||
Receiver’s Third Report to the Court dated November 25, 2024
| ||
Ancillary Order (approval of fees, disbursements and sealing) dated October 9, 2024
| ||
Endorsement of the Court dated October 9, 2024
| ||
Kingston Property Approval and Vesting Order dated October 9, 2024
| ||
| Affidavit of Simion Kronenfeld sworn October 8, 2024 | ||
| Responding Factum of the Receiver dated October 8, 2024 | ||
Supplement to the Second Report dated October 8, 2024
| ||
| Factum of 2478659 Ontario Ltd. dated October 7, 2024 | ||
| Responding Record of the Second Mortgagee, 2462686 Ontario Inc. dated October 7, 2024 | ||
| Responding Record of the Third Party Mortgagee, 2478659 Ontario Inc. dated October 7, 2024 | ||
Factum of the Receiver (Approval and Vesting Order re Kingston Property) dated October 2, 2024
| ||
| Motion Record of the Receiver (Approval and Vesting Order re Kingston Property) dated October 1, 2024 | ||
Receiver’s Second Report to the Court dated September 26, 2024
| ||
| Draft Approval and Vesting Order (re Kingston Property) – Amended | ||
Ancillary Order (approval of fees, disbursements, sealing) dated July 24, 2024
| ||
Endorsement of the Court dated July 24, 2024
| ||
Supplementary Endorsement of the Court dated July 24, 2024
| ||
Toronto Property Sale Approval and Vesting Order dated July 24, 2024
| ||
| Affidavit of Mario Kalemi sworn July 19, 2024 | ||
Factum of the Receiver (Toronto Property AVO Motion) dated July 18, 2024
| ||
Motion Record of the Receiver (Approval and Vesting Order re Toronto Properties) dated July 17, 2024
| ||
Receiver’s First Report to the Court dated July 16, 2024
| ||
Appointment Order dated December 6, 2023 (with effect from December 22, 2023)
| ||
Endorsement of the Honourable Justice Conway dated December 6, 2023
| ||
| Affidavit of Curtis Jackson sworn June 26, 2023 | ||
Notice of Application (for a Receiver) dated June 23, 2023
| ||
Service List
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “311 Conacher Drive, Kingston, Ontario 2849, 2851, 2853, 2855 and 2857 Islington Avenue, Toronto, Ontario” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/311-conacher-drive-kingston-ontario-2849-2851-2853-2855-and-2857-islington-avenu