736 BST Corp. and 2657819 Ontario Inc. have been in court-appointed receivership since April 24, 2025, on an application under section 243 of the BIA and provincial Judicature Act authority. The proceeding follows a Timbercreek Mortgage Servicing Inc. loan, held through Computershare Trust Company of Canada as custodian and bare trustee, that matured May 1, 2024 and drew a demand on June 24, 2024. A forbearance agreement dated July 12, 2024 carried the parties to April 22, 2025. Timbercreek reported $23,406,107.79 owing for principal and interest as at June 18, 2024, exclusive of legal fees, disbursements and accruing interest, secured by a general security agreement, an October 7, 2022 charge with registered principal of $23,000,000, an assignment of leases and rents, and a personal guarantee from director Jason Maxwell. Addison Wealth Management Inc. holds a $5,000,000 registered charge subordinated to Timbercreek since May 30, 2023.
The court granted an approval and vesting order. 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: Approval and Vesting Order
Motion Record of the Receiver- Returnable April 14, 2026 — Application / notice of application
The court appointed MNP Ltd. as receiver, on the application of TIMBERCREEK MORTGAGE SERVICING INC. and COMPUTERSHARE TRUST COMPANY OF CANADA in its capacity as custodian for TIMBERCREEK MORTGAGE SERVICING INC.. Court file CV-25-00741002-00CL.
Source: Receivership Order
Debtor
736 BST Corp. and 2657819 Ontario Inc.
Applicant
Timbercreek Mortgage Servicing
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Apr 2026 | 288 cases on record |
| Justice Myers | Ontario Superior Court of Justice | 2 orders, Mar 2026 | 103 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 2 orders, Apr 2025 | 89 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantTimbercreek Mortgage Servicing | Aird & Berlis LLP | 21 Apr 2025 | Factum · 21 Apr 2025 |
| CreditorAddison Wealth Management Inc | Fij Law LLP | 6 May 2025 | Service list · 6 May 2025 |
| CreditorTarion Warranty Corporation | Fij Law LLP · Torys LLP | 6 May 2025 | Service list · 6 May 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Timbercreek Mortgage Servicing Inc. (through Computershare Trust Company of Canada as custodian/agent/bare trustee) · in 7 casesGeneral security agreement (PPSA registration covering Inventory, Equipment, Accounts, Other); charge/mortgage registered Oct 7, 2022 in principal amount of $23,000,000; general assignment of leases and rents registered Oct 7, 2022; also a charge and direction from beneficial owner 2657819 Ontario Inc. — Amount is total owing under Credit Agreement and Personal Guarantee for principal and interest, exclusive of legal fees, disbursements and accruing interest, as demanded June 24, 2024; loan matured May 1, 2024 without repayment; subject to a forbearance agreement dated July 12, 2024, extended · as of 18 Jun 2024 | $23.4M | Application Record |
| Secured | Olympia Trust Company · in 26 casesPPSA registration (co-registered alongside Addison Wealth Management Inc.) against Debtor and Beneficial Owner; no separate charge/mortgage stated. — Listed as 'Secured Creditor' on service list; amount/balance not stated in these pages. — debtor: 736BST Corp. / 2657819 Ontario Inc. | — | Application Record |
| Secured | 1000568733 Ontario Inc.PPSA registration (co-registered alongside Addison Wealth Management Inc.) against Debtor and Beneficial Owner; no separate charge/mortgage stated. — Listed as 'Secured Creditor' on service list; amount/balance not stated in these pages. — debtor: 736BST Corp. / 2657819 Ontario Inc. | — | Application Record |
| Secured | Empirical Capital Corp. · in 2 casesPPSA registration (co-registered alongside Addison Wealth Management Inc.) against Debtor and Beneficial Owner; no separate charge/mortgage stated. — Listed as 'Secured Creditor' on service list; amount/balance not stated in these pages. — debtor: 736BST Corp. / 2657819 Ontario Inc. | — | Application Record |
| Secured | Addison Wealth Management Inc. · in 2 casesCharge/mortgage registered on title to the Real Property on May 30, 2023 in principal amount of $5,000,000; also registered on PPSA against Debtor and Beneficial Owner (registration also in favour of Empirical Capital Corp., 1000568733 Ontario Inc. and Olympia Trust Company). — Subordinated and postponed to Timbercreek's security pursuant to a standstill and subordination agreement dated May 30, 2023; no outstanding balance stated in these pages. — debtor: 736BST Corp. | — | Application Record |
“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.
Sale approved — the Transaction is hereby approvedApproval and Vesting Order · 14 Apr 2026
Court-ordered charges: $211K. Timbercreek a distribution.EstimatedMotion Record of the Receiver · 9 Apr 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Court charges | Receiver's Charge | — | $211Kconditional | Estimatedper the receiver | Motion Record of the Receiver · 9 Apr 2026 |
| Secured | Timbercreek | — | a distributionconditional | per the receiver | Motion Record of the Receiver · 9 Apr 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.
2 engagements · 2 firms — latest: MNP Ltd., 11 Apr 2025 – 6 Apr 2026, $86,411.75 approvedMotion Record of the Receiver · 14 Apr 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| MNP Ltd.Receiver | 11 Apr 2025 – 6 Apr 2026Approved | — | $86,411.75ex. tax | not stated | Motion Record of the Receiver · 14 Apr 2026 |
| Reconstruct LLPCounsel to the receiver | 1 Jun 2025 – 2 Apr 2026 | — | $32,756.50ex. tax | not stated | Motion Record of the Receiver · 14 Apr 2026 |
| Date | Document | File |
|---|---|---|
Ancillary Order
| ||
Approval and Vesting Order
| ||
Endorsement Slip of Justice Cavanagh
| ||
Motion Record of the Receiver- Returnable April 14, 2026
| ||
| Factum of the Receiver | ||
Endorsement of Justice FL Myers
| ||
Order Amending Appointment Order
| ||
Service List
| ||
Endorsement
| ||
Receivership Order
| ||
Factum of the Applicant
| ||
Application Record
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “736 BST Corp. and 2657819 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/736-bst-corp-and-2657819-ontario-inc
Sources last checked · summary updated 7 August 2026 · Report a correction · Printed from proceedings.ca/case/736-bst-corp-and-2657819-ontario-inc
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.