4 Birchmount Road
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, and section 101 of the Courts of Justice Act
- File
- CV-18-594590-00CL
- Industry
- Real estate
4 Birchmount Road, Toronto has been under court-appointed receivership since April 13, 2018, when the Ontario Superior Court of Justice appointed Rosen Goldberg Inc. as receiver under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, in Court File No. CV-18-594590-00CL. The application was brought by the syndicated mortgage lenders holding a second mortgage on the property, B&M Handelman Investments Limited, Flordale Holdings Limited, M. Himel Holdings Inc., 1530468 Ontario Ltd., Maxoren Investments and Sheilaco Investments Inc., who advanced principal of $900,000 to Christine Drotos. They dispute the first mortgagee's claim: Pillar Capital Corporation put $2,174,880 outstanding as of November 1, 2017, which the applicants say may be inflated and uncredited for interest payments.
Receiver's Motion for Directions returnable December 14, 2018 — Application / notice of application
Book of Authorities of Applicants regarding Motion returnable December 14, 2018 — Application / notice of application
Notice of Appeal of Pillar Capital Corporation (Cayman) returnable December 5, 2018 — Response / objection pleading
Endorsement of Justice Dunphy dated November 26, 2018 (mortgage priority) — Endorsement / reasons
Receiver's Supplementary Motion Record Returnable November 26, 2018 (Part 2 of 2) — Application / notice of application
Receiver's Supplementary Motion Record Returnable November 26, 2018 (Part 1 of 2) — Application / notice of application
Book of Authorities of Applicants dated October 4, 2018 — Application / notice of application
Motion Record of Pillar Capital Corp. Returnable October 9, 2018 — Application / notice of application
Endorsement of Justice Conway dated August 31, 2018 (timetable variation) — Endorsement / reasons
Interim Distribution Order of Justice Conway dated August 31, 2018d — Distribution order
Motion Record of Clients of DJD Law returnable October 9 and 12, 2018 — Application / notice of application
Responding Motion Record of Money Gate Mortgage Investment Corporation dated August 8, 2018 — Response / objection pleading
Motion Record of Applicants Returnable October 9, 2018 (Part 1) — Application / notice of application
Motion Record of Applicants Returnable October 9, 2018 (Part 2) — Application / notice of application
Receiver's Motion Record Returnable June 13, 2018 (Appeal) — Application / notice of application
The court granted an approval and vesting order for the sale to Fredric P. Kielburger. Closing terms, as extracted: Vesting is effective upon delivery of a Receiver's certificate to the Purchaser substantially in the form of Schedule A.
Responding Motion Record of Pillar Capital Corp. and World Financial Corporation — Response / objection pleading
Motion Record of Receiver Returnable May 31, 2018 (includes First Report of Receiver) was filed. Court file CV-18-594590-00CL.
Source: Motion Record of Receiver Returnable May 31, 2018 (includes First Report of Receiver)
The court appointed Rosen Goldberg Inc. as receiver over 4 Birchmount Road the same day, on the application of the second mortgagees.
Debtor
4 Birchmount Road
Receiver
Rosen Goldberg
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dunphy | Ontario Superior Court of Justice | 6 orders, Jun 2018 – Nov 2018 | 93 cases on record |
| Justice McEwen | Ontario Superior Court of Justice | 2 orders, Apr 2018 – Oct 2018 | 143 cases on record |
| Justice Conway | Ontario Superior Court of Justice | 2 orders, Aug 2018 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverRosen Goldberg | Blaney McMurtry LLP | 31 Aug 2018 | Order · 31 Aug 2018 |
| Applicant | Dickinson Wright LLP | 13 Apr 2018 | Order · 13 Apr 2018 |
| Creditorin Appeal | Dickinson Wright LLP | 10 Dec 2018 | Factum · 10 Dec 2018 |
| CreditorPillar Capital Corp | Brauti Thorning Zibarras LLP | 1 Jun 2018 | Factum · 1 Jun 2018 |
| CreditorPillar Capital Corporation | Wagner Sidlofsky LLP | 12 Dec 2018 | Factum · 12 Dec 2018 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Pillar Capital CorporationFirst mortgage registered on title to the Property (4 Birchmount Road, Toronto) — Related party: Pillar appears to be owned or controlled by Ara Missaghi; Applicants concerned Missaghi may have inflated the amount claimed due, and statement does not reflect credit for interest payments allegedly made by Missaghi; disputed — debtor: Christine Drotos · as of 1 Nov 2017 | $2.17M | Application Record April 13, 2018 |
| Secured |
1 more claim in 1 class The stack holds Secured claims.
Every creditor and every amount.
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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 — Court approved the Transaction between the Receiver and Fredric P. Kielburger and authorized vesting of the Purchased Assets (real property) upon delivery of the Receiver's Certificate.Issued Approval and Vesting Order · 1 Jun 2018
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Fredric P. Kielburgerthe right, title and interest of the Debtor in the Purchased Assets described in the Sale Agreement, being real property (PIN 06511-0222 (LT)), Scarborough, City of Toronto · real property · agreement 9 May 2018 | not stated | Approved1 Jun 2018 | Issued Approval and Vesting Order |
B&M Handelman Investments Limited, Flordale Holdings Limited, M. Himel Holdings Inc., 1530468 Ontario Ltd., Maxoren Investments, and Sheilaco Investments Inc.: a distribution.FinalInterim Distribution Order of Justice Conway dated August 31, 2018d · 31 Aug 2018
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredApplicants (mortgagees over Birchmount) | B&M Handelman Investments Limited, Flordale Holdings Limited, M. Himel Holdings Inc., 1530468 Ontario Ltd., Maxoren Investments, and Sheilaco Investments Inc. | — | interim | Finalper the court | Interim Distribution Order of Justice Conway dated August 31, 2018d · 31 Aug 2018 |
| Secured | Loraine and Gilbert Barlow | — | Finalper the court | Order of Justice Hainey dated October 15, 2019 (Distribution) · 15 Oct 2019 | |
| Secured | World Finance Corporation and MGMIC Receiver | — | a distribution | Finalper the court | Order of Justice Hainey dated October 15, 2019 (Distribution) · 15 Oct 2019 |
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 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Order of Justice Hainey dated October 15, 2019 (Distribution)
| PDF · Subscribers | |
| Receiver's Motion for Directions returnable December 14, 2018 | PDF · Subscribers | |
Reply Factum of B&M Handelman Investments Limited (Appeal on December 14, 2018)
| PDF · Subscribers | |
Factum of the Appellant Pillar Capital Corporation (Pillar) returnable December 14, 2018
| PDF · Subscribers | |
| Book of Authorities of Applicants regarding Motion returnable December 14, 2018 | PDF · Subscribers | |
Factum of Applicants regarding Motion returnable December 14, 2018 (appeal)
| PDF · Subscribers | |
| Endorsement of Court of Appeal dated December 5, 2018 | PDF · Subscribers | |
| Notice of Appeal of Pillar Capital Corporation (Cayman) returnable December 5, 2018 | PDF · Subscribers | |
Order of Justice Dunphy dated November 28, 2018
| PDF · Subscribers | |
Order of Justice Dunphy dated November 27, 2018(Priority Dispute)
| PDF · Subscribers | |
Endorsement of Justice Dunphy dated November 26, 2018 (mortgage priority)
| PDF · Subscribers | |
| Factum of Currah Capital Corporation (motion returnable November 28, 2018) | PDF · Subscribers | |
Reasons of Justice Dunphy (Mortgage Priority Dispute)
| PDF · Subscribers | |
Receiver's Supplementary Motion Record Returnable November 26, 2018 (Part 2 of 2)
| PDF · Subscribers | |
| Receiver's Supplementary Motion Record Returnable November 26, 2018 (Part 1 of 2) | PDF · Subscribers | |
| Factum of Pillar Capital Corporation (Cayman)-Priority Dispute | PDF · Subscribers | |
| Endorsement of Justice Hainey dated October 18, 2018 | PDF · Subscribers | |
Endorsement of Justice McEwen dated October 5, 2018
| PDF · Subscribers | |
| Book of Authorities of Applicants dated October 4, 2018 | PDF · Subscribers | |
| Factum of Applicants dated October 4, 2018 | PDF · Subscribers | |
| Motion Record of Pillar Capital Corp. Returnable October 9, 2018 | PDF · Subscribers | |
Endorsement of Justice Conway dated August 31, 2018 (timetable variation)
| PDF · Subscribers | |
Interim Distribution Order of Justice Conway dated August 31, 2018d
| PDF · Subscribers | |
| Motion Record of Clients of DJD Law returnable October 9 and 12, 2018 | PDF · Subscribers | |
| Responding Motion Record of Money Gate Mortgage Investment Corporation dated August 8, 2018 | PDF · Subscribers | |
| Motion Record of Applicants Returnable October 9, 2018 (Part 1) | PDF · Subscribers | |
| Motion Record of Applicants Returnable October 9, 2018 (Part 2) | PDF · Subscribers | |
Endorsement of the Honourable Mr. Justice Dunphy dated June 27, 2018
| PDF · Subscribers | |
Endorsement of Justice Paciocco(Court of Appeals)
| PDF · Subscribers | |
| Receiver's Motion Record Returnable June 13, 2018 (Appeal) | PDF · Subscribers | |
Factum of Moving Party Returnbale June 1, 2018
| PDF · Subscribers | |
Issued Approval and Vesting Order
| PDF · Subscribers | |
| Notice of Appeal of World Finance Corporation | PDF · Subscribers | |
| Responding Motion Record of Pillar Capital Corp. and World Financial Corporation | PDF · Subscribers | |
Motion Record of Receiver Returnable May 31, 2018 (includes First Report of Receiver)
| PDF · Subscribers | |
Application Record April 13, 2018
| PDF · Subscribers | |
Appointment Order dated April 13, 2018
| PDF · Subscribers | |
Endorsement of the Honourable Justice McEwen dated April 13, 2018
| 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., “4 Birchmount Road” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/4-birchmount-road