Proceedings.

AG (1000 & 1024 Dundas St. E.) GP Inc., AG (1000 & 1024 Dundas St. E.) LP, and AG (1000 & 1024 Dundas St. E.) Inc.

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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-25-00747127-00CL
Filings held35
Last activity1 Sep 2026
On the record278 days
Secured debt$14.9M
OverviewSummary updated

AG (1000 & 1024 Dundas St. E.) GP Inc., AG (1000 & 1024 Dundas St. E.) LP and AG (1000 & 1024 Dundas St. E.) Inc. have been under court-appointed receivership in Ontario since December 17, 2025, on the application of Morrison Financial Mortgage Corporation under s. 243 of the BIA. Morrison, mortgage administrator for funder Home Trust Company, holds first-ranking mortgages registered April 25, 2023 against 1000 and 1024 Dundas Street East, Mississauga, a general security agreement and general assignments of rents, and was owed approximately $14.9 million as of June 4, 2025 under a $15 million facility. Demand was made on the guarantees of principal Mohammed Irfan Ahmed and the general partner on June 5, 2025, and the debtors then defaulted under a September 30, 2025 forbearance agreement. CRA verbally confirmed on March 4, 2026 that AG Inc.'s GST/HST account is roughly $110,000 in arrears, approximately $91,000 of it a deemed trust claim, with returns unfiled for 2024. The receiver has been unable to confirm the extent of other creditors because of incomplete books and records. Morrison's conduct and the underlying default are disputed in a parallel Brampton action, Ahmed Holdings Inc. v. Morrison Financial et al., claiming more than $100 million.

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Case updates36 dated entries
#Report

The officer filed report no. Third Report. The Receiver has substantially progressed a court-supervised sale process for the two Dundas properties, entering a conditional agreement of purchase and sale for 1000 Dundas and an unconditional agreement (requiring vacant possession) for 1024 Dundas, while also terminating the AAM lease and pursuing outstanding disclosure and rent remittance from related parties.

Source: Third Report of the Receiver – August 14, 2026

#Report

The officer filed report no. Second Supplementary Second Report. This report is purely procedural, updating the Court on the delivery of written interrogatories and the status/outcome of examinations and cross-examinations ordered by the June 9 Endorsement; it does not discuss the debtors' ongoing operations.

Source: Supplementary Second Report of the Receiver dated June 30, 2026

#Report

The officer filed report no. Second Report. The Receiver is conducting a court-supervised sale process for the two commercial properties while managing significant obstruction from the debtors' principal, including disputes over a related-party tenant's lease, unremitted post-filing rent, and incomplete financial disclosure.

Source: Second Report of the Receiver – June 1, 2026

AnalysisAll insights⁠

Case update

AG Dundas: a broker fee does not make an appeal as of right

Pomerance J.A. has held that neither the April 1 sale process order nor the July 10 order terminating a related-party lease at 1024 Dundas Street East, Mississauga, was appealable as of right under s. 193(c) of the BIA, refused leave, and declared that no s. 195 stay ever arose, with the receiver holding agreements of purchase and sale for both properties and a September 21 approval hearing set for one.

Parties

Debtor

AG (1000 & 1024 Dundas St. E.) GP Inc., AG (1000 & 1024 Dundas St. E.) LP, and AG (1000 & 1024 Dundas St. E.) Inc.

Applicant

Morrison Financial Mortgage Corporation

Receiver

Albert Gelman

Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredMorrison Financial Mortgage Corporation · in 4 casesFirst ranking Charge/Mortgage registered April 25, 2023 as Instrument No. PR4192518 ($15,000,000.00 principal, 1000 Dundas St. E.) and Instrument No. PR4192520 (1024 Dundas St. E.), cross-collateralized; General Security Agreement dated April 24, 2023 registered under PPSA (Ref. File No. 792617229); General Assignment of Rents registered April 25, 2023 as Instrument No. PR4192519 (1000 Dundas St. E.) and PR4192521 (1024 Dundas St. E.) — Loan facility comprised $10,250,000 to refinance existing debt plus credit facility for soft costs up to maximum total loan of $15,000,000 (facility limit, not · as of 5 Jun 2025$14.9MNotice of Application dated July 8, 2025

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 · 2 proposed — Sale Process has resulted in transactions for both Dundas PropertiesThird Report of the Receiver – August 14, 2026 · 14 Aug 2026

Parties solicited

5000

Second Report of the Receiver – June 1, 2026

PurchaserPriceStatusSource
unnamed purchaser of 1000 Dundas, conditional agreement subject to due diligence1000 Dundas · real propertynot statedProposedThird Report of the Receiver – August 14, 2026
unnamed purchaser of 1024 Dundas, unconditional agreement contemplating vacant possession1024 Dundas · real propertynot statedProposedThird Report of the Receiver – August 14, 2026
AdvisorsCBRE Limited (listing broker); Avison Young (listing broker)Supplementary First Report of the Receiver – March 30, 2026
Fees and ratesAs stated in the filings

5 engagements · 3 firms — latest: Albert Gelman Inc., 7 Dec 2025 – 28 Feb 2026, $66,693.50 in feesNon-Confidential Motion Record – March 9, 2026 · 9 Mar 2026

FirmPeriodHoursFeesRatesSource
Albert Gelman Inc.Receiverperiod 1 of 27 Dec 2025 – 28 Feb 2026—$66,693.50$506.79stated averageNon-Confidential Motion Record – March 9, 2026 · 9 Mar 2026
Albert Gelman Inc.Receiverperiod 1 of 2———$513.08stated averageSecond Report of the Receiver – June 1, 2026 · 1 Jun 2026
Robins Appleby LLPCounsel to the receiverperiod 1 of 219 Jan – 28 Feb 2026——not statedNon-Confidential Motion Record – March 9, 2026 · 9 Mar 2026
Robins Appleby LLPCounsel to the receiverperiod 1 of 2———not statedSecond Report of the Receiver – June 1, 2026 · 1 Jun 2026
Robins Appleby LLPCounsel to the receiverfirm not named in the heading———not statedFirst Report of the Receiver – March 9, 2026 · 9 Mar 2026
Estate financialsReported figures — never derived

Cumulative receipts

$165K

As at 1 Jun 2026Second Report of the Receiver – June 1, 2026

Cumulative disbursements

$165K

As at 1 Jun 2026Second Report of the Receiver – June 1, 2026

Cash on hand

$132

As at 1 Jun 2026Second Report of the Receiver – June 1, 2026

Professional fees to date

$138K

As at 1 Jun 2026Second Report of the Receiver – June 1, 2026

Documents
35 filings
DateDocumentFile
Endorsement of Pomerance J.A. dated September 1, 2026
  • Presiding officer Justice Pomerance
PDF
Court of Appeal Motion Record of the Receiver dated August 14, 2026PDF
Third Report of the Receiver – August 14, 2026
  • Operational summary The Receiver has substantially progressed a court-supervised sale process for the two Dundas properties, entering a conditional agreement of purchase and sale for 1000 Dundas and an unconditional agreement (requiring vacant possession) for 1024 Dundas, while also terminating the AAM lease and pursuing outstanding disclosure and rent remittance from related parties.
  • Purchaser unnamed purchaser of 1000 Dundas, conditional agreement subject to due diligence · 1000 Dundas · real property · proposed; unnamed purchaser of 1024 Dundas, unconditional agreement contemplating vacant possession · 1024 Dundas · real property · proposed
  • Report date 14 August 2026
  • Report no Third Report
  • + 2 more extracted facts
PDF
Service List (August 12, 2026)PDF
Notice of Appeal (AAMI) – July 20, 2026PDF
Notice of Appeal (AG GP) – July 20, 2026PDF
Endorsement of Justice Dietrich dated July 10, 2026
  • Presiding officer Justice Dietrich
PDF
Order (Lease Terminaiton and Anciliiary Relief) dated July 10, 2026PDF
Supplementary Reply Record of the Receiver dated June 30, 2026PDF
Supplementary Second Report of the Receiver dated June 30, 2026
  • Operational summary This report is purely procedural, updating the Court on the delivery of written interrogatories and the status/outcome of examinations and cross-examinations ordered by the June 9 Endorsement; it does not discuss the debtors' ongoing operations.
  • Report date 30 June 2026
  • Report no Second Supplementary Second Report
PDF
Reply Record of the Receiver dated June 19, 2026PDF
Responding Affidavit of Mohammed Ahmed dated June 12, 2026PDF
Endorsement of Justice Dietrich dated June 9, 2026
  • Presiding officer Justice Dietrich
PDF
Affidavit of Mohammed Ahmed June 8, 2026
  • Secured creditors Note: Morrison Financial is licensed mortgage administrator (Licence #11447) acting for treasury partner Home Trust; related entities Morrison Financial GP Inc. and the Morrison Financial Senior/Junior Mortgage Income Fund LPs/Trusts (with David Morrison personally as trustee/directing mind and Alenna Morresi-Emer as co-trustee) are also implicated as related parties/financing partners. No outstanding balance stated on these pages; underlying claim and default are disputed in parallel Brampton litigation. · Page: 70 · As of: Commitment Letter dated March 10, 2023, as amended February 8, 2024 · Debtor: AG (1000 & 1024 Dundas St. E.) GP Inc., AG (1000 & 1024 Dundas St. E.) LP, and AG (1000 & 1024 Dundas St. E.) Inc. · Creditor: Morrison Financial Mortgage Corporation · Currency: CAD · Security: Mortgage(s) over 1000 & 1024 Dundas Street East, Mississauga; Applicant/secured creditor in s.243(1) BIA receivership application; acted as originator/administrator (not sole funder) of the Home Trust-funded $15,000,000 facility
PDF
Notice of Motion – June 1, 2026PDF
Second Report of the Receiver – June 1, 2026
  • Cash on hand $132 · Note: Estate balance per Interim SRD as at May 31, 2026; described as nominal cash in the estate · As at: 2026-05-31 · Qualifier: approximately nominal
  • Disbursements $165K · Note: Total disbursements per Interim SRD, prepared on a cash basis and does not reflect accrued and unpaid fees, expenses and other costs of the administration · Since: Filing Date (December 17, 2025)
  • Fee schedule Engagements: Form: prose · Rows: · Money: Approximate: false · Period: Kind: unstated · Approval: State: unstated · Averages: Receiver · Currency: · Invoices: · Firm text: Albert Gelman Inc. · Firm quote: SECOND REPORT OF ALBERT GELMAN INC. IN ITS CAPACITY AS RECEIVER AND MANAGER · Context quote: in its capacity as receiver and manager (in such capacity, the ' Receiver '); Form: report_table · Rows: · Money: Approximate: false · Period: Kind: unstated · Quote: Fees and Disbursements Summary of Robins Appleby LLP for the period from March up to · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: Robins Appleby LLP · Firm quote: its counsel, Robins Appleby LLP (' RA ') · Context quote: approving the fees and disbursements of the Receiver and its counsel, Robins Appleby LLP (' RA '), as set out in the First Report
  • Operational summary The Receiver is conducting a court-supervised sale process for the two commercial properties while managing significant obstruction from the debtors' principal, including disputes over a related-party tenant's lease, unremitted post-filing rent, and incomplete financial disclosure.
  • + 7 more extracted facts
PDF
Motion Record dated April 17, 2026PDF
Appellants Notice of Appeal dated April 9, 2026PDF
Respondents’ Notice of Appeal dated April 6, 2026PDF
Endorsement of Justice Dunphy dated April 1, 2026
  • Presiding officer Justice Dunphy
PDF
Order (Sales Process, Approval and Ancillary Relief) dated April 1, 2026
  • Sale outcome Sale process approved — Sale Process is hereby approved and the Receiver is authorized and directed to commence the Sale Process
PDF
Supplementary First Report of the Receiver – March 30, 2026
  • Sale advisor CBRE Limited (listing broker); Avison Young (Canada) Inc. (listing broker)
  • Sale outcome Sale process approved — The Receiver proposes the following Sale Process for the Dundas Properties
PDF
Supplementary Motion Record of the Receiver dated March 30, 2026PDF
Responding Motion Record of the Respondents dated March 26, 2026PDF
Endorsement of Justice Dunphy dated March 17, 2026
  • Presiding officer Justice Dunphy
PDF
Endorsement of J. Steele dated March 11, 2026
  • Presiding officer Justice Jana Steele
PDF
First Report of the Receiver – March 9, 2026
  • Fee schedule Engagements: Form: report_table · Rows: · Money: Fees: $66.7K · Quote: the amount of $66,693.50 and $183.28 (all excluding HST) · Approximate: false · Disbursements: $183 · Quote: the amount of $66,693.50 and $183.28 (all excluding HST) · Period: End: 2026-02-28 · Kind: interim · Label: the Period · Quote: during the period from December 7, 2025 to February 28, 2026 (the ' Period ') · Start: 2025-12-07 · Approval: State: unstated · Averages: billed by the Receiver during the Period · Currency: · Invoices: · Firm text: Albert Gelman Inc. · Firm quote: FIRST REPORT OF ALBERT GELMAN INC. IN ITS CAPACITY AS RECEIVER AND MANAGER · Context quote: AGI, in its capacity as Receiver of the Debtors, has provided services and incurred disbursements · Context unverified: true; Form: time_summary · Rows: · Money: Approximate: false · Period: Kind: invoice · Quote: Fees and Disbursements Summary of Robins Appleby LLP for the period from January 19, 2026 up to February 28, 2026 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: Robins Appleby LLP · Firm quote: Robins Appleby LLP (' Robins Appleby ') is acting as counsel to the Receiver. · Context quote: Robins Appleby has provided services and incurred disbursements throughout these proceedings in a manner consistent with the instructions of the Receiver · Firm unverified: true · Context unverified: true
  • Secured creditors $91K · Note: Deemed trust class claim: CRA verbally confirmed (as of March 4, 2026) that the GST/HST account of AG Inc. is in arrears of approximately $110,000 in total, of which approximately $91,000 is recognized as a deemed trust; GST/HST returns not filed for 2024. AG Inc. also has a separate (non-deemed-trust) corporate income tax arrears of approximately $44,000, with T2 returns not filed since year ended Dec 31, 2022 (not included in this entry's amount as it is not a deemed-trust/priority claim). Status of AG LP and AG GP Inc. CRA accounts remained unconfirmed as of the report date. · Page: 12 · As of: 2026-03-04 · Debtor: AG (1000 & 1024 Dundas St. E.) Inc. · Creditor: Canada Revenue Agency (CRA)
PDF
Non-Confidential Motion Record – March 9, 2026
  • Fee schedule Engagements: Form: time_summary · Rows: · Money: Fees: $66.7K · Quote: $66,693.50 · Approximate: false · Disbursements: $183 · Quote: $183.28 · Period: End: 2026-02-28 · Kind: invoice · Label: the Period · Quote: during the period from December 7, 2025 to February 28, 2026 (the ' Period '). · Start: 2025-12-07 · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: Albert Gelman Inc. · Firm quote: ALBERT GELMAN INC., in its capacity as receiver and manager · Context quote: ALBERT GELMAN INC., in its capacity as receiver and manager (in such capacity, the ' Receiver ') , without security, of all present and future property, assets and undertakings; Form: time_summary · Rows: · Money: Approximate: false · Period: End: 2026-02-28 · Kind: invoice · Quote: FOR THE PERIOD FROM JANUARY 19, 2026 TO FEBRUARY 28, 2026 · Start: 2026-01-19 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: Robins Appleby LLP · Firm quote: FEES AND DISBURSEMENTS SUMMARY OF ROBINS APPLEBY LLP · Context quote: Fees and Disbursement s Summary of Robins Appleby LLP for the period from January 19, 2026 up to February 28, 2026
PDF
Service List (as at March 9 2026)PDF
Endorsement of Justice Myers released December 17, 2025
  • Presiding officer Justice Myers
PDF
Receivership Appointment Order dated December 17, 2025
  • Applicant Morrison Financial Mortgage Corporation
  • Appointee Albert Gelman Inc.
  • Appointee role receiver and manager
  • Commencement date 17 December 2025
  • + 4 more extracted facts
PDF
Supplementary Affidavit Chawin Vajanopath – Applicant – 09 Dec 2025
  • Secured creditors $14.9M · Note: Amount is the exact indebtedness acknowledged by the Borrowers as of June 5, 2025 in the Forbearance Agreement (principal, interest and fees, excluding legal costs); continues to accrue interest, fees and costs thereafter. Original loan facility was $10,250,000 to refinance existing debt plus a Credit Facility for soft costs, up to a maximum total loan amount of $15,000,000 (facility limit, not the outstanding balance). Also secured by a personal guarantee of Mohammed Irfan Ahmed (individual guarantor) and a guarantee from AG (1000 & 1024 Dundas St. E.) GP Inc. (a co-borrower acting as guarantor - related party). Borrower defaulted on maturity May 1, 2025; Lender's solicitor sent Demands and BIA s.244 Notice on June 5, 2025. Parties subsequently entered a Forbearance Agreement dated September 30, 2025, adjourning receivership application to December 8, 2025; Borrowers/Guarantors do not dispute the indebtedness. · Page: 6 · As of: 2025-06-05 · Debtor: AG (1000 & 1024 Dundas St. E.) GP Inc. and AG (1000 & 1024 Dundas St. E.) LP · Creditor: Morrison Financial Mortgage Corporation · Security: Charge/Mortgage registered April 25, 2023 as Instrument No. PR4192518 for principal sum of $15,000,000.00 against 1000 Dundas St. E., Mississauga; First ranking Charge/Mortgage registered April 25, 2023 as Instrument No. PR4192520 against 1024 Dundas St. E., Mississauga (amount not stated); General Security Agreement dated April 24, 2023, registered under the PPSA (Ref. File No. 792617229); General Assignment of Rents registered April 25, 2023 as Instrument Nos. PR4192519 and PR4192521 against both properties
PDF
Responding Motion Record of the Respondents dated August 29, 2025PDF
Endorsement of Justice Steele released July 23, 2025
  • Presiding officer Justice Steele
PDF
Notice of Application dated July 8, 2025
  • Applicant MORRISON FINANCIAL MORTGAGE CORPORATION
  • Appointee ALBERT GELMAN INC.
  • Appointee role Proposed Receiver
  • Commencement date 8 July 2025
  • + 4 more extracted facts
PDF

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

CiteProceedings., “AG (1000 & 1024 Dundas St. E.) GP Inc., AG (1000 & 1024 Dundas St. E.) LP, and AG (1000 & 1024 Dundas St. E.) Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/ag-1000-1024-dundas-st-e-gp-inc-ag-1000-1024-dundas-st-e-lp-and-ag-1000-1024-dun

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Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/ag-1000-1024-dundas-st-e-gp-inc-ag-1000-1024-dundas-st-e-lp-and-ag-1000-1024-dun

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.