Ashcroft Homes – 101 Richmond Road Inc., Ashcroft Homes – 108 Richmond Road Inc., and Ashcroft Homes – 111 Richmond Road Inc.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-24-0009537-0000
- Industry
- Real estate · Residential development
Ashcroft Homes – 101 Richmond Road Inc., Ashcroft Homes – 108 Richmond Road Inc. and Ashcroft Homes – 111 Richmond Road Inc. have been in court-appointed receivership since May 16, 2024, when the Ontario Superior Court of Justice, on the application of DUCA Financial Services Credit Union Ltd., appointed BDO Canada Limited as receiver under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act (file CV-24-00095337-0000). DUCA's non-revolving five-year term loan, advanced November 30, 2018 to a maximum principal of $8.8 million and secured by charges registered December 21, 2018, matured unpaid on November 30, 2023, and a December 4, 2023 forbearance agreement was breached. The receiver put the DUCA indebtedness at approximately $6.5 million as of March 22, 2024. The receivership remains active.
Second Supplementary Motion Record, dated November 14, 2024 — Application / notice of application
Supplementary Motion Record (Returnable November 14, 2024) dated November 13, 2024 — Application / notice of application
Motions Record( returnable November 5, 2024) dated November 4, 2024 — Application / notice of application
Justice MacLeod appointed BDO Canada Limited receiver of the three Ashcroft Richmond Road entities on DUCA's application, under s. 243(1) BIA and s. 101 CJA.
Application Record (Respondents) dated April May 10, 2024 — Application / notice of application
Application Record (returnable May 16) dated April 23, 2024 was filed. Court file CV-24-0009537-0000.
Source: Application Record (returnable May 16) dated April 23, 2024
Debtor
Ashcroft Homes – 101 Richmond Road Inc., Ashcroft Homes – 108 Richmond Road Inc., and Ashcroft Homes – 111 Richmond Road Inc.
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice MacLeod | Ontario Superior Court of Justice | 6 orders, May 2024 – Jan 2025 | 22 cases on record |
| Justice Corthorn | Ontario Superior Court of Justice | 3 orders, Sep 2024 | 3 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Blaney McMurtry LLP | 16 May 2024 | Order · 16 May 2024 |
| DebtorAshcroft Homes – 101 Richmond Road Inc., Ashcroft Homes – 108 Richmond Road Inc., and Ashcroft Homes – 111 Richmond Road Inc. | Mann Lawyers LLP | 4 Nov 2024 | Application · 4 Nov 2024 |
| CreditorDavid Choo, Guarantor | Mann Lawyers LLP | 15 Aug 2024 | Service list · 15 Aug 2024 |
| CreditorRoyal Bank of Canada | McMillan LLP | 15 Aug 2024 | Service list · 15 Aug 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | DUCA Financial Services Credit Union Ltd. · in 18 casesDUCA Charges: mortgages/charges registered December 21, 2018 in the principal amount of $8,800,000 against the Real Property (registered principal, not the balance); non-revolving five-year term loan, maximum principal $8.8 million, advanced November 30, 2018, matured November 30, 2023; Additional Real Properties are not subject to the DUCA Charges — Amount is the Receiver's 'approximately $6.5 million' as of March 22, 2024; indebtedness continues to accrue interest and other costs. Loan matured unpaid November 2023; forbearance agreement December 4, 2023 breached. — debtor: Ashcroft Homes ent · as of 22 Mar 2024 | $6.5M | First Report of the Receiver dated August 21 2024 |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
4 more claims in 2 classes The stack holds Secured and Unsecured claims.
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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.
Closed · the record states no distribution outcome.
| Date | Document | File |
|---|---|---|
Discharge Order, Dated January 29, 2025
| PDF · Subscribers | |
Endorsement, dated January 29, 2025
| PDF · Subscribers | |
| Supplementary Motion Record, dated January 27, 2025 | PDF · Subscribers | |
| Motion Record dated January 14, 2025 | PDF · Subscribers | |
Endorsement of Justice MacLeod dated November 28, 2024
| PDF · Subscribers | |
| Affidavit of Manny Difilippo dated November 26, 2024 | PDF · Subscribers | |
| Factum of the Receiver, dated November 14, 2024 | PDF · Subscribers | |
| Second Supplementary Motion Record, dated November 14, 2024 | PDF · Subscribers | |
| Supplementary Motion Record (Returnable November 14, 2024) dated November 13, 2024 | PDF · Subscribers | |
| Affidavit of Manny Difilippo dated November 5, 2024 | PDF · Subscribers | |
Endorsement, dated November 5, 2024
| PDF · Subscribers | |
| Factum of the Respondents dated November 4 2024 | PDF · Subscribers | |
| Motions Record( returnable November 5, 2024) dated November 4, 2024 | PDF · Subscribers | |
Respondents Motion Record dated November 4 2024
| PDF · Subscribers | |
Amended and Restated Order (Appointing Receiver) dated September 3, 2024
| PDF · Subscribers | |
Endorsement, dated September 3, 2024
| PDF · Subscribers | |
Order (Approval of Sales Process for Residential Units and Additional Properties) dated September 3 2024
| PDF · Subscribers | |
| Supplemental Report to the First Report dated August 30 2024 | PDF · Subscribers | |
| Responding Motion Record of DUCA dated Aug 28, 2024 | PDF · Subscribers | |
Compendium of the Receiver dated August 26 2024
| PDF · Subscribers | |
| Factum to the Motion Record dated August 22 2024 | PDF · Subscribers | |
| Motion Record dated August 22 2024 | PDF · Subscribers | |
First Report of the Receiver dated August 21 2024
| PDF · Subscribers | |
Service List as at August 15 2024
| PDF · Subscribers | |
| Endorsement, dated May 16, 2024 | PDF · Subscribers | |
Receivership Order, dated May 16, 2024
| PDF · Subscribers | |
| Application Record (Respondents) dated April May 10, 2024 | PDF · Subscribers | |
Application Record (returnable May 16) dated April 23, 2024
| 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., “Ashcroft Homes – 101 Richmond Road Inc., Ashcroft Homes – 108 Richmond Road Inc., and Ashcroft Homes – 111 Richmond Road Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 16 October 2026, https://proceedings.ca/case/ashcroft-homes