Proceedings.

9265988 Canada Corp.

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Active
Proceeding
Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
Court
Ontario Superior Court of Justice
File
CV-20-00635650-00CL
Filings held9
Last activity11 Aug 2020
On the record2,413 days
Secured debt$18M
OverviewSummary updated

9265988 Canada Corp. has been under court-appointed receivership since February 12, 2020, when the Ontario Superior Court of Justice (Commercial List) appointed KSV Kofman Inc. as receiver on the application of MarshallZehr Group Inc. as Administrator, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The proceeding is active under court file CV-20-00635650-00CL. The company's principal asset is the property at 201, 227 and 235 King Road, Richmond Hill, Ontario, secured by a syndicated loan committed at $18,000,000 under an April 19, 2018 commitment letter as amended, led by Vector Financial Services Limited as agent with MarshallZehr as administrator. Trisura Guarantee Company of Canada holds a $3,500,000 mortgage on title, a PPSA registration and a deposit trust agreement covering pre-sold townhome deposits. Mortgages held by 9439676 Canada Inc., 10855278 Canada Inc. and 2592536 Ontario Inc. total approximately $6.9 million. The Toronto-Dominion Bank, which registered a PPSA financing statement, advised the receiver's counsel that nothing is owed to it.

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Case updates9 dated entries
#Report

The officer filed report no. Second Report. The Company has no ongoing business operations beyond the real property development project; the Receiver has completed rezoning and is now seeking court approval of a sale transaction for the property and its own discharge.

Source: Second Report of the Receiver dated August 5, 2020

Parties

Debtor

9265988 Canada Corp.

Receiver

AlixPartners

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice HaineyOntario Superior Court of Justice2 orders, Feb 2020196 cases on record

Counsel of record

PartyCounselFirst seenSource
CreditorKSV Kofman IncChaitons LLP11 Aug 2020Order · 11 Aug 2020
Capital structureAs asserted in the filings
stated amounts, drawn to scale · 2 named without a figure
Priority classCreditorAmountSource
SecuredMarshallZehr Group Inc. (as Administrator, syndicated Loan led by Vector Financial Services Limited) · in 19 casesMortgage on the Property (201, 227, 235 King Road, Richmond Hill, Ontario); original facility amount per commitment letter dated April 19, 2018, as amended — Loan syndicated; Vector Financial Services Limited is agent/lead, MarshallZehr is administrator; loan was used to refinance existing mortgages on the Property; figure is original committed loan amount, not a stated outstanding balance — debtor: 9265988 Canada Corp. · as of 19 Apr 2018$18MFirst Report of the Receiver dated March 5, 2020
Secured9439676 Canada Inc., 10855278 Canada Inc. and 2592536 Ontario Inc.Mortgages registered on title to the Property — Approximate combined amount as stated ($6.9 million); individual components not broken out — debtor: 9265988 Canada Corp.$6.9MFirst Report of the Receiver dated March 5, 2020
SecuredTrisura Guarantee Company of CanadaMortgage registered on title to the Property — Also holds a PPSA financing statement registered against the Company; also party to a deposit trust agreement re: pre-sold townhome deposits — debtor: 9265988 Canada Corp.$3.5MFirst Report of the Receiver dated March 5, 2020
SecuredThe Toronto-Dominion Bank · in 111 casesPPSA financing statement registered against the Company — TD Bank advised Receiver's counsel that no money is owed by the Company to TD Bank — debtor: 9265988 Canada Corp.$0First Report of the Receiver dated March 5, 2020
SecuredVector Financial Services LimitedPPSA financing statement registered against the Company — Also lead lender/agent under the syndicated Loan secured by mortgage; PPSA registration amount not stated separately — debtor: 9265988 Canada Corp.—First Report of the Receiver dated March 5, 2020

“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 processAs stated in the filings

2 transactions · 1 proposed · 1 approved — the Transaction is hereby approvedApproval and Vesting Order dated August 11, 2020 · 11 Aug 2020

Parties solicited

1500

Second Report of the Receiver dated August 5, 2020

NDAs signed

25

Second Report of the Receiver dated August 5, 2020

Bids received

5

Second Report of the Receiver dated August 5, 2020

PurchaserPriceStatusSource
Bridlepath Capital Corporation and City Core Consortia Limitedthe Real Property, Assumed Contracts, Permits and Plans · asset sale · nominee/assignee: a company to be incorporated · agreement 1 May 2020SealedProposedSecond Report of the Receiver dated August 5,…
12252856 Canada Inc.the Respondent's right, title and interest in and to the Purchased Assets · real property · agreement 30 Apr 2020not statedApproved11 Aug 2020Approval and Vesting Order dated August 11, 2020
AdvisorsCBRE Limited (listing broker)Second Report of the Receiver dated August 5, 2020
Closing termsvesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of conditionsApproval and Vesting Order dated August 11, 2020
Fees and ratesAs stated in the filings

3 engagements · 1 firm — latest: KSV Restructuring Inc., to 31 Jul 2020, $74,327.75 in feesMotion Record · 11 Aug 2020

FirmPeriodHoursFeesRatesSource
KSV Restructuring Inc.Receiverperiod 3 of 3to 31 Jul 2020132.85$74,327.75courtesy discount$450 – $6252 peopleMotion Record · 11 Aug 2020
2 people — KSV Restructuring Inc., to 31 Jul 2020
NameTitleHoursRateFees
Noah GoldsteinOverall responsibilityManaging Director84.2$625$52,625.00
Esther MannSale ProcessAssociate42$450$18,900.00
Other staff and administrative—6.65$125 – $725$2,802.75
KSV Restructuring Inc.Receiverperiod 3 of 31 Apr – 31 Jul 202065.7$39,730.34ex. tax$450 – $6252 peopleMotion Record · 11 Aug 2020
2 people — KSV Restructuring Inc., 1 Apr – 31 Jul 2020
NameTitleHoursRateFees
Noah Goldstein—55.2$625$34,500.00
Esther Mann—9$450$4,050.00
Other staff and administration—1.5—$1,087.50
KSV Restructuring Inc.Receiverperiod 1 of 3to 31 Mar 202067.15$29,723.37ex. taxcourtesy discount$450 – $7253 peopleMotion Record · 11 Aug 2020
3 people — KSV Restructuring Inc., to 31 Mar 2020
NameTitleHoursRateFees
Robert Kofman—1.55$725$1,123.75
Noah Goldstein—29$625$18,125.00
Esther Mann—33$450$14,850.00
Other staff and administration—3.6—$591.50

Top rate $625 · 66th percentile of receiver rates, 2020 · of 42

Estate financialsReported figures — never derived

Professional fees to date

$69.3K

As at 5 Aug 2020Second Report of the Receiver dated August 5, 2020

Documents
9 filings
DateDocumentFile
Approval and Vesting Order dated August 11, 2020
  • Closing terms vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of conditions
  • Purchaser 12252856 Canada Inc. · the Respondent's right, title and interest in and to the Purchased Assets · real property · approved
  • Sale outcome Sale approved — the Transaction is hereby approved
PDF
Court Order dated August 11, 2020
  • Counsel Chaitons LLP
  • Presiding officer Justice Conway
PDF
Motion Record returnable August 11, 2020
  • Fee schedule Engagements: Form: invoice_listing · Rows: · Money: Tax: $3.86K · Label: HST · Quote: HST | 3,864.04 · Fees: $29.7K · Quote: Total professional fees and disbursements | 29,723.37 · Total: $33.6K · Quote: Total due | 33,587.41 · includes tax · includes disbursements · Approximate: false · Period: End: 2020-03-31 · Kind: invoice · Quote: To professional services rendered for the period ending March 31, 2020 by KSV Kofman Inc. · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: KSV Kofman Inc. · Firm quote: KSV Kofman Inc. Receivership of 9265988 Canada Corp. · Context quote: provided a summary of the Receiver's fees for the period from the commencement of the receivership to July 31, 2020.; Form: time_summary · Rows: Robert Kofman; Noah Goldstein; Esther Mann; Fees: 591.5 · Hours: 3.6 · Quote: Other staff and administration | | 3.60 | 591.50 · Row kind: bucket · Rate kind: standard · Name as stated: Other staff and administration · Money: Fees: $34.7K · Quote: Total Fees | | 67.15 | 34,690.25 · Total: $29.7K · Quote: Invoice Amount | | | 29,723.37 · includes disbursements · Approximate: false · Disbursements: $33 · Quote: Out of Pocket Disbursements | | | 33.12 · Period: End: 2020-03-31 · Kind: invoice · Quote: For the period ending March 31, 2020 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: KSV Kofman Inc. · Firm quote: KSV Kofman Inc. Receivership of 9265988 Canada Corp. · Hours total: Quote: Total Fees | | 67.15 | 34,690.25 · Value: 67.15 · Context quote: provided a summary of the Receiver's fees for the period from the commencement of the receivership to July 31, 2020. · Discount note: Text: Discount · Quote: Discount | | | (5,000.00); Form: invoice_listing · Rows: · Money: Tax: $5.16K · Label: HST · Quote: HST | 5,164.94 · Fees: $39.7K · Quote: Total professional fees and disbursements | 39,730.34 · Total: $44.9K · Quote: Total due | 44,895.28 · includes tax · includes disbursements · Approximate: false · Period: End: 2020-07-31 · Kind: invoice · Quote: To professional services rendered for the period from April 1, 2020 to July 31, 2020 by KSV Kofman Inc. · Start: 2020-04-01 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: KSV Kofman Inc. · Firm quote: KSV Kofman Inc. Receivership of 9265988 Canada Corp. · Context quote: provided a summary of the Receiver's fees for the period from the commencement of the receivership to July 31, 2020.; Form: time_summary · Rows: Noah Goldstein; Esther Mann; Fees: 1087.5 · Hours: 1.5 · Quote: Other staff and administration | | 1.50 | 1,087.50 · Row kind: bucket · Rate kind: standard · Name as stated: Other staff and administration · Money: Fees: $39.6K · Quote: Total Fees | | 65.70 | 39,637.50 · Total: $39.7K · Quote: Total | | | 39,730.34 · includes disbursements · Approximate: false · Disbursements: $93 · Quote: Out of Pocket Disbursements | | | 92.84 · Period: End: 2020-07-31 · Kind: invoice · Quote: For the period from April 1, 2020 to July 31, 2020 · Start: 2020-04-01 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: KSV Kofman Inc. · Firm quote: KSV Kofman Inc. Receivership of 9265988 Canada Corp. · Hours total: Quote: Total Fees | | 65.70 | 39,637.50 · Value: 65.7 · Context quote: provided a summary of the Receiver's fees for the period from the commencement of the receivership to July 31, 2020.; Form: time_summary · Rows: Noah Goldstein; Esther Mann; Fees: 2802.75 · Hours: 6.65 · Quote: Other staff and administrative | | | 6.65 | 125-725 | 2,802.75 · Rate max: 725 · Rate min: 125 · Row kind: bucket · Rate kind: range · Name as stated: Other staff and administrative · Money: Fees: $74.3K · Quote: Total fees | | | | | 74,327.75 · Total: $69.3K · Quote: Total | | | | | 69,327.75 · Approximate: false · Period: End: 2020-07-31 · Kind: cumulative · Quote: provided a summary of the Receiver's fees for the period from the commencement of the receivership to July 31, 2020. · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: KSV Kofman Inc. · Firm quote: KSV Kofman Inc. Receivership of 9265988 Canada Corp. · Hours total: Quote: Total hours | | | | | 132.85 · Value: 132.85 · Context quote: he Receiver finalized its Second Report to Court in which it provided a summary of the Receiver's fees for the period from the commencement of the receivership to July 31, 2020. · Discount note: Text: Discount · Quote: Discount | | | | | (5,000.00)
PDF
Second Report of the Receiver dated August 5, 2020
  • Fee schedule Engagements: Form: time_summary · Rows: Noah Goldstein; Esther Mann; Fees: 2802.75 · Hours: 6.65 · Quote: Other staff and administrative | | | 6.65 | 125-725 | 2,802.75 · Rate max: 725 · Rate min: 125 · Row kind: bucket · Rate kind: range · Name as stated: Other staff and administrative · Money: Fees: $74.3K · Quote: Total fees | | | | | 74,327.75 · Total: $69.3K · Quote: Total | | | | | 69,327.75 · Approximate: false · Period: End: 2020-07-31 · Kind: cumulative · Quote: For the Period from the commencement of the proceedings to July 31, 2020 · Approval: State: unstated · Averages: Receiver · Currency: · Invoices: Fees: 34690.25 · Quote: Total professional fees and disbursements | 29,723.37 · Total: 29723.37 · Period end: 2020-03-31 · Disbursements: 33.12; Fees: 39637.5 · Quote: Total professional fees and disbursements | 39,730.34 · Total: 39730.34 · Period end: 2020-07-31 · Period start: 2020-04-01 · Disbursements: 92.84 · Firm text: KSV Kofman Inc. · Firm quote: Second Report of KSV Kofman Inc. as Receiver of 9265988 Canada Corp. · Hours total: Quote: Total hours | | | | | 132.85 · Value: 132.85 · Context quote: the Receiver finalized its Second Report to Court in which it provided a summary of the Receiver's fees for the period from the commencement of the receivership to July 31, 2020. · Discount note: Text: Discount · Quote: Discount | | | | | (5,000.00); Form: time_summary · Rows: Robert Kofman; Noah Goldstein; Esther Mann; Fees: 591.5 · Hours: 3.6 · Quote: Other staff and administration | | 3.60 | 591.50 · Row kind: bucket · Rate kind: standard · Name as stated: Other staff and administration · Money: Tax: $3.86K · Label: HST · Quote: HST | 3,864.04 · Fees: $34.7K · Quote: Total Fees | | 67.15 | 34,690.25 · Total: $29.7K · Quote: Total due | 33,587.41 · includes tax · includes disbursements · Approximate: false · Disbursements: $33 · Quote: Out of Pocket Disbursements | | | 33.12 · Period: End: 2020-03-31 · Kind: invoice · Quote: For the period ending March 31, 2020 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: KSV Kofman Inc. · Firm quote: KSV Kofman Inc. Receivership of 9265988 Canada Corp. · Hours total: Quote: Total Fees | | 67.15 | 34,690.25 · Value: 67.15 · Context quote: To professional services rendered for the period ending March 31, 2020 by KSV Kofman Inc. · Discount note: Text: Discount · Quote: Discount | | | (5,000.00); Form: time_summary · Rows: Noah Goldstein; Esther Mann; Fees: 1087.5 · Hours: 1.5 · Quote: Other staff and administration | | 1.50 | 1,087.50 · Row kind: bucket · Rate kind: standard · Name as stated: Other staff and administration · Money: Tax: $5.16K · Label: HST · Quote: HST | 5,164.94 · Fees: $39.6K · Quote: Total Fees | | 65.70 | 39,637.50 · Total: $39.7K · Quote: Total | | | 39,730.34 · includes disbursements · Approximate: false · Disbursements: $93 · Quote: Out of Pocket Disbursements | | | 92.84 · Period: End: 2020-07-31 · Kind: invoice · Quote: Time Summary For the period from April 1, 2020 to July 31, 2020 · Start: 2020-04-01 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: KSV Kofman Inc. · Firm quote: KSV Kofman Inc. Receivership of 9265988 Canada Corp. · Hours total: Quote: Total Fees | | 65.70 | 39,637.50 · Value: 65.7 · Context quote: To professional services rendered for the period from April 1, 2020 to July 31, 2020 by KSV Kofman Inc. in its capacity as receiver (the 'Receiver') of the Company
  • Operational summary The Company has no ongoing business operations beyond the real property development project; the Receiver has completed rezoning and is now seeking court approval of a sale transaction for the property and its own discharge.
  • Process results 1500 solicited · 25 NDAs · 5 bids
  • Professional fees $69.3K · Note: Excludes disbursements and HST; Chaitons LLP (Receiver's counsel) fees for same period were $29,148.00 and DLA Piper (Canada) LLP fees were $2,320.50. · Party: KSV Kofman Inc. (Receiver) · Period: commencement of proceedings to July 31, 2020
  • + 5 more extracted facts
PDF
Motion Record returnable March 12, 2020PDF
First Report of the Receiver dated March 5, 2020
  • Secured creditors Note: Also lead lender/agent under the syndicated Loan secured by mortgage; PPSA registration amount not stated separately · Page: 5 · Debtor: 9265988 Canada Corp. · Creditor: Vector Financial Services Limited · Currency: CAD · Security: PPSA financing statement registered against the Company
PDF
Endorsement of Justice Hainey dated February 12, 2020
  • Presiding officer Justice Hainey
PDF
Receivership Order dated February 12, 2020
  • Applicant MARSHALLZEHR GROUP INC. as Administrator
  • Appointee KSV Kofman Inc.
  • Appointee role receiver
  • Commencement date 12 February 2020
  • + 5 more extracted facts
PDF
Application Record returnable February 10, 2020
  • Applicant MarshallZehr Group Inc.
  • Appointee KSV Kofman Inc.
  • Appointee role receiver
  • Commencement date 4 February 2020
  • + 3 more extracted facts
PDF

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

CiteProceedings., “9265988 Canada Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/9265988-canada-corp

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Sources last checked · summary updated 20 August 2026 · Report a correction · Printed from proceedings.ca/case/9265988-canada-corp

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.