98 James South (2022) Inc. and 98 James South (2022) Limited Partnership
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- CV-24-00717051-00CL
- Industry
- Real estate · Residential development
98 James South (2022) Inc. and 98 James South (2022) Limited Partnership were placed in receivership by the Ontario Superior Court of Justice on August 14, 2024 under BIA s. 243, in Court File No. CV-24-00717051-00CL, and the proceeding is now closed. The debtors had been in default of their payment obligations to MarshallZehr Group Inc. since November 2023; MarshallZehr was owed approximately $15.6 million as at January 2, 2025 under security including a first-ranking mortgage dated September 9, 2022 against the real property, a general assignment of rents and a general security agreement, which Fasken's independent review concluded was valid and enforceable. The property sold for $13,000,000, leaving MarshallZehr short on net proceeds and no distributions for other creditors, including Hue Developments & Investments Canada Inc., holder of a subordinated vendor take-back mortgage.
Motion Record of the Responding Party, Gillam, dated November 11, 2024 — Application / notice of application
Court appointed a receiver over the debtors on Wednesday, August 14, 2024, the order carrying a Receiver's Borrowing Charge under which MarshallZehr later advanced $200,000.
Undated filings1 — no date appears on the document · show
Debtor
98 James South (2022) Inc. and 98 James South (2022) Limited Partnership
Receiver
KSV
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 3 orders, Jan 2024 – Jan 2025 | 245 cases on record |
| Justice Osborne | Ontario Superior Court of Justice | 2 orders, Nov 2024 | 168 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Aug 2024 | 318 cases on record |
| Justice Kimmel | Ontario Superior Court of Justice | 2 orders, Apr 2024 – Jun 2024 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverKSV Restructuring Inc | Chaitons LLP | 16 Jan 2024 | Order · 16 Jan 2024 |
| Applicant | Chaitons LLP | 14 Aug 2024 | Order · 14 Aug 2024 |
| Purchaser | Cassels Brock & Blackwell LLP | 5 Nov 2024 | Service list · 5 Nov 2024 |
| CreditorKSV Restructuring Inc | Chaitons LLP | 12 Nov 2024 | Order · 12 Nov 2024 |
| CreditorMarcus Gillam | Dentons Canada LLP | 11 Nov 2024 | Application · 11 Nov 2024 |
| CreditorMarshallZehr Group Inc | Chaitons LLP | 5 Nov 2024 | Service list · 5 Nov 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | MarshallZehr Group Inc. · in 19 casesMarshallZehr Security for the Loan advanced pursuant to a commitment letter dated August 19, 2022: (i) first-ranking mortgage registered against title to the Real Property dated September 9, 2022 (charge registered in the amount of C$13,200,000 - registration amount, not a balance); (ii) general assignment of rents; and (iii) general security agreement. Independent review by Fasken concluded the MarshallZehr Security is valid and enforceable, subject to standard assumptions and qualifications. — Amount is approximate, as advised by MarshallZehr ('owed approximately $15.6 million' as at January · as of 2 Jan 2025 | $15.6M | Second Report of the Receiver dated January 7, 2025 |
| 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.
Unsecured creditors: no distribution. MarshallZehr short.EstimatedSecond Report of the Receiver · 7 Jan 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | senior secured creditor | — | shortfallconditional | Estimatedper the receiver | Motion Record of the Responding Party, Gillam · 11 Nov 2024 |
| Secured | MarshallZehr | — | shortfall | Estimatedper the receiver | Second Report of the Receiver · 7 Jan 2025 |
| Unsecured | — | — | no distribution | Estimatedper the receiver | Second Report of the Receiver · 7 Jan 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.
4 engagements · 3 firms — latest: Chaitons LLP, 15 Aug – 31 Dec 2024, in feesMotion Record of the Receiver · 7 Jan 2025
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Chaitons LLPCounsel to the receiver | 15 Aug – 31 Dec 2024 | — | Motion Record of the Receiver · 7 Jan 2025 | ||
| Fasken Martineau DuMoulin LLPCounsel to the receiverperiod 2 of 2 | 6 Nov – 31 Dec 2024 | — | Motion Record of the Receiver · 7 Jan 2025 | ||
| Fasken Martineau DuMoulin LLPCounsel to the receiverperiod 1 of 2 | — | — | Second Report of the Receiver · 7 Jan 2025 | ||
| KSV Restructuring Inc.Receiver | 14 Aug – 31 Dec 2024 | — | — | Motion Record of the Receiver · 7 Jan 2025 |
7 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Receiver's Certificate dated August 13, 2025 | PDF · Subscribers | |
Distribution and Discharge Order dated January 16, 2025
| PDF · Subscribers | |
Endorsement of Justice Steele dated January 16, 2025
| PDF · Subscribers | |
Factum of the Receiver dated January 13, 2025
| PDF · Subscribers | |
Motion Record of the Receiver dated January 7, 2025
| PDF · Subscribers | |
Second Report of the Receiver dated January 7, 2025
| PDF · Subscribers | |
Endorsement of Justice Osborne dated November 12, 2024
| PDF · Subscribers | |
Sale Process Approval Order dated November 12, 2024
| PDF · Subscribers | |
Motion Record of the Responding Party, Gillam, dated November 11, 2024
| PDF · Subscribers | |
98 James - Service List as at November 5, 2024
| PDF · Subscribers | |
| First Report of the Receiver dated November 4, 2024 | PDF · Subscribers | |
Motion Record of the Receiver dated November 4, 2024
| PDF · Subscribers | |
| 98 James - NDA | PDF · Subscribers | |
Endorsement of Justice Cavanagh dated August 14, 2024
| PDF · Subscribers | |
Receivership Order dated August 14, 2024
| PDF · Subscribers | |
| Sale Process | PDF · Subscribers | |
| Stalking Horse Purchase Agreement | PDF · Subscribers | |
| Affidavit of Laura Culleton sworn August 13, 2024 | PDF · Subscribers | |
Endorsement of Justice Steele dated July 9, 2024
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated June 17, 2024
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated April 15, 2024
| PDF · Subscribers | |
| Factum of the Applicant dated April 11, 2024 | PDF · Subscribers | |
| Application Record dated March 27, 2024 | PDF · Subscribers | |
Approval and Vesting Order dated January 16, 2024
| PDF · Subscribers | |
| Affidavit of Lynda Christodoulou sworn January 13, 2024 | PDF · Subscribers | |
| 98 James - Teaser | 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., “98 James South (2022) Inc. and 98 James South (2022) Limited Partnership” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/98-james-south-2022-inc-and-98-james-south-2022-limited-partnership