Proceedings.

6525785 Manitoba Ltd.

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Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
File
CI 23-01-39420
Filings held20
Last activity19 Mar 2025
On the record1,284 days
Secured debt$1.73M
OverviewSummary updated

6525785 Manitoba Ltd. is the subject of a bankruptcy proceeding under the Bankruptcy and Insolvency Act that commenced on March 17, 2023 in the Court of King's Bench, court file no. CI 23-01-39420. The record carries a single milestone: a receivership order granted on the commencement date itself. No later steps are entered on the record, and the proceeding is now recorded as closed.

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Case updates20 dated entries
#Order

Receivership order granted March 17, 2023, the date the proceeding commenced under court file no. CI 23-01-39420 in the Court of King's Bench.

Source: Filed Receivership Order

Parties

Debtor

6525785 Manitoba Ltd.

Receiver

MNP

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice MartinCourt of King's Bench of Manitoba5 orders, Mar 2023 – Oct 20245 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverMNPPitblado LLP14 Jun 2023Application · 14 Jun 2023
Debtor6525785 Manitoba Ltd.Smith Neufeld Jodoin LLP14 Jun 2023Application · 14 Jun 2023
CreditorFirst National Financial GP CorporationThompson Dorfman Sweatman LLP14 Jun 2023Application · 14 Jun 2023
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredFirst National Financial GP Corporation (as general partner of First National Financial LP) · in 7 casesMortgage over Young Property (Nov 14, 2012, amended Jul 28, 2014); General Security Agreement over all present and after-acquired property relating to Young Property; General Assignment of Rents — Interest accrues thereafter at 3.27% per annum, compounded semi-annually; 647 and PGRP are beneficial owners of the Young Property but 652 (bare trustee) is the borrower/security grantor — debtor: 6525785 Manitoba Ltd. · as of 6 Jan 2023$1.73MFiled Notice of Application

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.

RecoveriesAs stated in the filings

Closed · the record states no distribution outcome.

Documents
20 filings
DateDocumentFile
Discharge CertificatePDF
Distribution and Discharge
  • Presiding officer Justice Martin
PDF
Fourth Report of the ReceiverPDF
Sale Approval and Vesting Order
  • Presiding officer Justice Martin
PDF
Filed Motion Brief of the ReceiverPDF
Filed Notice of Motion of the Receiver
  • Counsel Thompson Dorfman Sweatman LLP
PDF
Filed Order - Approving the Proposal for Sale
  • Presiding officer Justice Martin
PDF
Supplement to the Second Report of the ReceiverPDF
Notice of Motion
  • Counsel Smith Neufeld Jodoin LLP
PDF
Second Report of the ReceiverPDF
Motion Brief of the ReceiverPDF
Notice of Motion of the ReceiverPDF
SSP Order
  • Presiding officer Justice Martin
PDF
First Report of the Receiver
  • Secured creditors Note: No balance amount stated in the report; security opinion from Pitblado Law confirms Young Security is valid and enforceable against the Property · Page: 3 · Debtor: 6525785 Manitoba Ltd. · Creditor: First National Financial GP Corporation · Currency: CAD · Security: First-registered mortgage against the Property, general security agreements against 652, and general assignment of rents and leases (collectively, the "Young Security")
PDF
Filed Receivership Order
  • Commencement date 17 March 2023
  • Court THE KING'S BENCH
  • Court file no CI 23-01-39420
  • Presiding officer Justice Martin
PDF
Brief of the RespondentsPDF
Affidavit of Patrick PennerPDF
Brief of ApplicantPDF
Filed Notice of Application
  • Commencement date 14 February 2023
  • Court THE KING'S BENCH
  • Court file no CI 23-01-39421
  • Secured creditors $1.73M · Note: Interest accrues thereafter at 3.27% per annum, compounded semi-annually; 647 and PGRP are beneficial owners of the Young Property but 652 (bare trustee) is the borrower/security grantor · Page: 6 · As of: 2023-01-06 · Debtor: 6525785 Manitoba Ltd. · Creditor: First National Financial GP Corporation (as general partner of First National Financial LP) · Security: Mortgage over Young Property (Nov 14, 2012, amended Jul 28, 2014); General Security Agreement over all present and after-acquired property relating to Young Property; General Assignment of Rents
PDF
Affidavit of Sonia Pacheo
  • Secured creditors Note: Original loan commitment (accepted November 1, 2012) was $2,130,625.00 (includes CMHC application fee and insurance premium); principal amount was subsequently decreased to $1,887,228.19 per amendment letter dated April 26, 2016 - this is the stated post-amendment principal amount, not a dated current outstanding balance; no current outstanding-balance figure for the loan as of the affidavit/filing date (Feb 2023) is stated in these pages. Required monthly P&I and tax instalment has been $9,936.00 since the rate was fixed April 27, 2016 (3.27%, 10-year term, maturity mid-2026). Loan defaulted and was brought current via insurance proceeds in Feb 2022 and again in July 2022, following defaults in Sept 2021 and April 2022; loan has 'frequently been in arrears.' · Page: 6 · Debtor: 6525785 Manitoba Ltd. (bare trustee for beneficial owners 6472240 Manitoba Ltd. and PGRP Properties Inc.) · Creditor: First National Financial GP Corporation (general partner of First National Financial LP; loan administered by agent Montrose Mortgage Corporation Ltd.; security intermittently registered in the name of Computershare Trust Company of Canada as bare registered holder for First National, later transferred back to First National for enforcement) · Currency: CAD · Security: First Mortgage (Young Mortgage No. 4306936/1) dated November 14, 2012, as amended July 28, 2014, against 480 Young Street, Winnipeg (the Young Property); Caveat No. 4306937/1; General Security Agreement dated November 14, 2012 over all present and after-acquired property relating to the Young Property; General Assignment of Rents dated November 14, 2012; PPSA registration (Personal Property Security Notice No. 4306938/1)
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “6525785 Manitoba Ltd.” (Receivership (court-appointed)). Retrieved 20 September 2026, https://proceedings.ca/case/6525785-manitoba-480young

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Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/6525785-manitoba-480young

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.