Proceedings.

Barakaa Developer Inc., Lerrato Inc. and 2145499 Ontario Inc.

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Proceeding
Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43
File
CV-24-00724076-00CL
Filings held72
Last activity18 Sep 2026
On the record745 days
Secured debtSubscribers
OverviewSummary updated

Barakaa Developer Inc., Lerrato Inc. and 2145499 Ontario Inc. have been under court-appointed receivership in Ontario since October 21, 2024, when the Ontario Superior Court of Justice appointed KSV Restructuring Inc. as receiver and manager on the application of first-ranking mortgagee Foremost Mortgage Holding Corporation, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. Foremost holds mortgages registered ahead of other encumbrances, with $6,185,000 owing by 2145499 Ontario Inc., $4,133,000 by Barakaa and $3,155,000 by Lerrato, before interest, professional fees, property tax payments and other accruing costs. Subsequent mortgages are held by BIP Management Inc., Galidan Inc., 1417199 Ontario Limited and Tripta Dhingra. Mortgages of $5,000,000 registered against each debtor in favour of the Joshi Parties are disputed, with the respondents challenging their validity in ongoing litigation. The proceeding is active under court file CV-24-00724076-00CL.

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Case updates72 dated entries
#Sale

The court granted an approval and vesting order for the sale to Zeba Qadeer and Raja Abdul Qadeer. Closing terms, as extracted: Vesting effective upon delivery of the Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction.

Source: Approval and Vesting Order for 373 Porte Road dated June 13, 2025

Case update

Barakaa: ten Ajax townhouses and a sealed price floor

The last unsold property in the Barakaa receivership is a ten-unit townhouse condominium in Ajax that needed a transformer costing more than $500,000 and completion work now estimated at $965,000; on September 18 the receiver asks to sell the units against sealed target and floor prices, without further motions, with each vesting order signed by the registrar.

Parties

Debtor

Barakaa Developer Inc., Lerrato Inc. and 2145499 Ontario Inc.

Receiver

KSV

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice CavanaghOntario Superior Court of Justice8 orders, Jun 2025 – Dec 2025318 cases on record
Justice SteeleOntario Superior Court of Justice5 orders, Mar 2025 – Sep 2026245 cases on record
Justice MyersOntario Superior Court of Justice4 orders, Oct 2025 – Jan 2026117 cases on record
Justice DunphyOntario Superior Court of Justice3 orders, Sep 202693 cases on record
Justice KimmelOntario Superior Court of Justice2 orders, Feb 2025198 cases on record
Justice BlackOntario Superior Court of Justice2 orders, Oct 2024198 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverKSVDLA Piper (Canada) LLP21 Mar 2025Application · 21 Mar 2025
ReceiverKSV Restructuring IncDLA Piper (Canada) LLP11 Oct 2024Service list · 11 Oct 2024
ApplicantPaliare Roland Rosenberg Rothstein LLP10 Oct 2024Application · 10 Oct 2024
DebtorBarakaa Developer Inc., Lerrato Inc. and 2145499 Ontario Inc.Chaitons LLP11 Oct 2024Service list · 11 Oct 2024
CreditorBIP Management Corporation and Galidan IncFij Law LLP11 Oct 2024Service list · 11 Oct 2024
CreditorForemost Mortgage Holding CorporationPaliare Roland Rosenberg Rothstein LLP2 Jan 2026Factum · 2 Jan 2026
CreditorNon- StakeholdersRohoman & Mohammed LLP3 Oct 2025Factum · 3 Oct 2025
CreditorSanjive JoshiBerkow Youd Lev-Farrell Das LLP11 Oct 2024Service list · 11 Oct 2024
CreditorTripta Dhingra and 1417199 Ontario LimitedNagpal Dutta Professional Corporation11 Oct 2024Service list · 11 Oct 2024
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
Priority classCreditorAmountSource
SecuredForemost Mortgage Holding CorporationMortgage (registered prior to other mortgages) — Before interest, fees and other accruing costs; figures in $000s — debtor: 2145499 Ontario Inc.$6.18MFirst Report of the Receiver dated January 20, 2025
Secured
Secured
Secured
Secured
Secured
Secured
Secured
Secured
Secured

9 more claims in 1 class The stack holds Secured claims.

Every creditor and every amount, drawn to scale.

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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

14 transactions · 9 closed · 2 not completed · 2 approved · 1 proposed — approval of amendments permitting sales of Doric Units without further court approval subject to pricing thresholdsDoric Units Sale Approval Order dated September 18, 2026 · 18 Sep 2026

PurchaserPriceStatusSource
Zen Jie Wanga home built by Barakaa located at 25 Madison Avenue, Richmond Hill · real property · agreement 12 Feb 2025SubscribersProposedSecond Report as Receiver and Manager dated…
Zeng Jie Wangthe land and building known municipally as 25 Madison Avenue, Richmond Hill, Ontario and the chattels listed in the Sale Agreement · real property · agreement 12 Feb 2025not statedCloseddate not statedThird Report of the Receiver dated May 30, 2025
Sara Qadeer and Talha Azim Buttthe land and building known municipally as 371 Porte Road, Ajax, Ontario and the chattels listed in the Sale Agreement (collectively, the ' Purchased Assets ') · real property · agreement 9 May 2024not statedClosedReceiver's Certificate re 371 Porte dated June…
Zeba Qadeer and Raja Abdul Qadeerthe land and building known municipally as 373 Porte Road, Ajax, Ontario and the chattels listed in the Sale Agreement (collectively, the 'Purchased Assets') · real property · agreement 6 May 2024not statedClosedReceiver's Certificate re 373 Porte dated June…
Mohammed Alsharafi and Fatima Jeddi23 Madison · real property · agreement 29 Oct 2023SubscribersNot completedFourth Report of the Receiver dated August 7,…
Sara Qadeer and Talha Azim Buttthe land and building known municipally as 371 Porte Road, Ajax, Ontario and the chattels listed in the Sale Agreement · real property · agreement 21 May 2025SubscribersCloseddate not statedFourth Report of the Receiver dated August 7,…
Umair Qadeerthe land and building known municipally as 375 Porte Road, Ajax, Ontario and the chattels listed in the Sale Agreement · real property · agreement 20 May 2025SubscribersClosed24 Jun 2025Receiver's Certificate re 375 Porte dated June…
Zeba Qadeer and Raja Abdul Qadeerthe land and building known municipally as 373 Porte Road, Ajax, Ontario and the chattels listed in the Sale Agreement · real property · agreement 20 May 2025SubscribersCloseddate not statedFourth Report of the Receiver dated August 7,…
purchaser of 369 Porte, pending disclaimer motion369 Porte Road, Ajax · real property · agreement 12 Aug 2022SubscribersNot completedFourth Report of the Receiver dated August 7,…
Mohammed Al-Sharafi and Fatima Alawithe land and building known municipally as 23 Madison Avenue, Richmond Hill, Ontario and the chattels listed in the Sale Agreement (collectively, the 'Purchased Assets') · real property · agreement 20 Nov 2025not statedClosed31 Dec 2025Receiver's Certificate re 23 Madison Avenue…
Muhammed Jehanzeb Aghathe land and building known municipally as 371 Porte Road, Ajax, Ontario ... and the chattels listed in the Sale Agreement (collectively, the ' Purchased Assets ') · real property · agreement 24 Nov 2025not statedClosed24 Feb 2026Receivers Certificate dated February 24, 2026
Rohitkumar M. Patel and Arvindaben R. Patelthe land and building known municipally as 377 Porte Road, Ajax, Ontario ... and the chattels listed in the Sale Agreement (collectively, the 'Purchased Assets') · real property · agreement 24 Nov 2025SubscribersApproved1 Dec 2025Approval and Vesting Order re 377 Porte Rd.…
Rohitkumar M. Patel and Arvidaben R. PatelPurchased Assetsnot statedClosed11 Dec 2025Receiver's Certificate re 377 Porte dated…
purchasers of individual Doric Units not yet identified; process approval onlythe proposed sales of ten condominium units owned by 2145499 (the 'Doric Units') · real propertySubscribersApproved18 Sep 2026Sale Process Approval Order dated September…
AdvisorsNaznin Daruwalla of Remax Crossroads Realty Inc. (listing broker); Slavens & Associates Real Estate (listing broker); Forest Hill Real Estate Inc. (listing broker)Sixth Report of the Receiver dated August 31, 2026
Closing termsPermitted Transaction closes without further court approval if price meets Target/Floor Price and template APS used; delivery of Receiver's Certificate vests title in PurchaserSale Process Approval Order dated September September 18, 2026
Sealed materialsConfidential Appendix 1 to the Sixth Report (Pricing Schedule / target and floor prices); Confidential Appendix 1 to the Sixth Report (Pricing Schedule)Sale Process Approval Order dated September September 18, 2026
RecoveriesAs stated in the filings

Unsecured creditors: no distribution. Foremost short.EstimatedMotion Record of the Receiver · 5 Sep 2025

ClassCreditorClaimsRecoveryBasisSource
SecuredForemost—short by per the receiverMotion Record of the Receiver · 5 Sep 2025
Unsecuredsubordinate ranking mortgagees or other creditors—no distributionEstimatedper the receiverMotion Record of the Receiver · 5 Sep 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.

1 blurred figure above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

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Estate financialsReported figures — never derived

Cumulative receipts

$7.34M

As at 8 Oct 2025Supplement to the Fourth Report of the Receiver dated October 8, 2025

Cumulative disbursements

As at

Cash on hand

As at

Professional fees

As at

3 more reported figures

Each one as the filing states it, with its source.

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Documents
72 filings
DateDocumentFile
Doric Units Sale Approval Order dated September 18, 2026
  • Order date 18 September 2026
  • Presiding officer Justice Dunphy
  • Purchaser purchasers of individual Doric Units not yet identified; process approval only · the proposed sales of ten condominium units owned by 2145499 (the 'Doric Units') · real property · approved
  • Sale outcome Sale process approved — approval of amendments permitting sales of Doric Units without further court approval subject to pricing thresholds
  • + 2 more extracted facts
PDF · Subscribers
Endorsement of Justice Dunphy dated September 18, 2026
  • Presiding officer Justice Dunphy
PDF · Subscribers
Sale Process Approval Order dated September September 18, 2026
  • Closing terms Permitted Transaction closes without further court approval if price meets Target/Floor Price and template APS used; delivery of Receiver's Certificate vests title in Purchaser
  • Order date 18 September 2026
  • Presiding officer Justice Dunphy
  • Purchaser unnamed purchasers of individual Doric Units under a template process to be completed with future agreements · the Doric Units · real property · approved
  • + 3 more extracted facts
PDF · Subscribers
Authorities Brief of the Receiver dated September 14, 2026PDF · Subscribers
Factum of the Receiver dated September 14, 2026PDF · Subscribers
Amended Notice of Motion re Doric Sale Approval dated September 4, 2026PDF · Subscribers
Endorsement of Justice Steele dated September 4, 2026
  • Presiding officer Justice Steele
PDF · Subscribers
Motion Record of the Receiver dated September 1, 2026
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Sixth Report of the Receiver dated August 31, 2026
  • Sale advisor Forest Hill Real Estate Inc. (listing broker)
  • Sale outcome Sale process approved — summarize the proposed sale process for the Doric Units
  • Financial position · Secured creditors Subscribers
  • + 2 more extracted facts
PDF · Subscribers
Receivers Certificate dated February 24, 2026
  • Closing confirmed Closed · 24 Feb 2026 · Muhammed Jehanzeb Agha
PDF · Subscribers
Affidavit of Beatrice Loschiavo sworn January 7, 2026PDF · Subscribers
Amended and Restated Order dated January 7, 2026
  • Counsel Paliare Roland Rosenberg Rothstein LLP
  • Presiding officer Justice Black Myers
PDF · Subscribers
Endorsement of Justice Myers dated January 7, 2026
  • Presiding officer Justice Myers
PDF · Subscribers
Affidavit of Hitesh Jhaveri sworn January 6, 2026PDF · Subscribers
Factum of the Applicant - Foremost Mortgage Holding Corporation dated January 2, 2026
  • Counsel Paliare Roland Rosenberg Rothstein LLP
PDF · Subscribers
Receiver's Certificate re 23 Madison Avenue dated December 31, 2025
  • Closing confirmed Closed · 31 Dec 2025 · Mohammed Al-Sharafi and Fatima Alawi
PDF · Subscribers
Motion Record of the Applicant dated December 16, 2025PDF · Subscribers
Receiver's Certificate re 377 Porte dated December 11, 2025
  • Closing confirmed Closed · 11 Dec 2025 · Rohitkumar M. Patel and Arvidaben R. Patel
PDF · Subscribers
Ancillary Order dated December 1, 2025
  • Presiding officer Justice Cavanagh
PDF · Subscribers
Approval and Vesting Order re 23 Madison Avenue dated December 1, 2025
  • Closing terms Vesting occurs upon delivery of the Receiver's Certificate confirming payment of purchase price and satisfaction/waiver of closing conditions.
  • Order date 1 December 2025
  • Presiding officer Justice Cavanagh
  • Purchaser Mohammed Al-Sharafi and Fatima Alawi · the land and building known municipally as 23 Madison Avenue, Richmond Hill, Ontario and the chattels listed in the Sale Agreement (collectively, the 'Purchased Assets') · real property · approved
  • + 1 more extracted fact
PDF · Subscribers
Approval and Vesting Order re 369 Porte Rd. dated December 1, 2025
  • Closing terms Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of Transaction
  • Order date 1 December 2025
  • Presiding officer Justice Cavanagh
  • Purchaser Muhammed Jehanzeb Agha · the land and building known municipally as 371 Porte Road, Ajax, Ontario ... and the chattels listed in the Sale Agreement (collectively, the ' Purchased Assets ') · real property · approved
  • + 2 more extracted facts
PDF · Subscribers
Approval and Vesting Order re 377 Porte Rd. dated December 1, 2025
  • Closing terms Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions.
  • Order date 1 December 2025
  • Presiding officer Justice Cavanagh
  • Purchaser Rohitkumar M. Patel and Arvindaben R. Patel · the land and building known municipally as 377 Porte Road, Ajax, Ontario ... and the chattels listed in the Sale Agreement (collectively, the 'Purchased Assets') · real property · approved
  • + 2 more extracted facts
PDF · Subscribers
Endorsement of Justice Cavanagh dated December 1, 2025
  • Presiding officer Justice Cavanagh
PDF · Subscribers
Factum of the Receiver dated November 27, 2025
  • Counsel DLA Piper (Canada) LLP
PDF · Subscribers
Supplement to Fifth Report of the Receiver dated November 26, 2025
PDF · Subscribers
Fifth Report to the Court dated November 24, 2025
  • Operational summary The Receiver negotiated replacement sale transactions for the disclaimed 369 Porte, 377 Porte and 23 Madison properties with the occupying purchasers, and seeks Court approval of these Transactions and a distribution to Foremost, while 214's Doric condominium development continues under construction with various consultants.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Motion Record of the Receiver dated November 24, 2025PDF · Subscribers
Court Order dated October 10, 2025
  • Presiding officer Justice Myers
PDF · Subscribers
Court Order re Disclaimer of 23 Madison APS dated October 10, 2025PDF · Subscribers
Endorsement of Justice Myers dated October 10, 2025
  • Presiding officer Justice Myers
PDF · Subscribers
Supplement to the Fourth Report of the Receiver dated October 8, 2025
  • Cash on hand · Disbursements · Financial position · Operational summary Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Supplemental Motion Record of the Receiver dated October 8, 2025PDF · Subscribers
Court Order re Porte Properties dated October 7, 2025
  • Presiding officer Justice Steele
PDF · Subscribers
Endorsement of Justice Steele dated October 7, 2025
  • Presiding officer Justice Steele
PDF · Subscribers
Book of Authorities of 377 Porte Purchasers dated October 3, 2025
  • Presiding officer Justice Morawetz
PDF · Subscribers
Factum of 377 Porte Purchasers dated October 3, 2025
  • Counsel Rohoman & Mohammed LLP
PDF · Subscribers
Book of Authorities of the Receiver dated September 29, 2025PDF · Subscribers
Factum of the Receiver re 23 Madison dated September 29, 2025PDF · Subscribers
Factum of the Receiver re 369 and 377 Porte dated September 29, 2025PDF · Subscribers
Affidavit of Rohitkumar Patel sworn September, 8 2025PDF · Subscribers
Motion Record of the Receiver dated September 5, 2025
  • Recovery outcome Entries: per unstated; per estimated · Table missing:
PDF · Subscribers
Endorsement of Justice Cavanagh dated August 26, 2025
  • Presiding officer Justice Cavanagh
PDF · Subscribers
Notice of Motion re APS Disclaimer dated August 15, 2025PDF · Subscribers
Motion Record of the Receiver datded August 8, 2025
  • Recovery outcome Entries: per unstated; per unstated · Table missing:
PDF · Subscribers
Fourth Report of the Receiver dated August 7, 2025
  • Closing confirmed Closed · date not stated; Closed · date not stated · Sara Qadeer and Talha Azim Butt; Closed · date not stated · Zeba Qadeer and Raja Abdul Qadeer; Closed · date not stated · Umair Qadeer
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 9 more extracted facts
PDF · Subscribers
Endorsement of Justice J. Dietrich dated August 5, 2025
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Receiver's Certificate re 371 Porte dated June 24, 2025
  • Closing confirmed Closed · Sara Qadeer and Talha Azim Butt
PDF · Subscribers
Receiver's Certificate re 373 Porte dated June 24, 2025
  • Closing confirmed Closed · Zeba Qadeer and Raja Abdul Qadeer
PDF · Subscribers
Receiver's Certificate re 375 Porte dated June 24, 2025
  • Closing confirmed Closed · 24 Jun 2025 · Umair Qadeer
PDF · Subscribers
Ancillary Order dated June 13, 2025PDF · Subscribers
Approval and Vesting Order for 373 Porte Road dated June 13, 2025
  • Closing terms Vesting effective upon delivery of the Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction
  • Order date 13 June 2025
  • Presiding officer Justice Cavanagh
  • Purchaser Zeba Qadeer and Raja Abdul Qadeer · the land and building known municipally as 373 Porte Road, Ajax, Ontario and the chattels listed in the Sale Agreement (collectively, the 'Purchased Assets') · real property · approved
  • + 2 more extracted facts
PDF · Subscribers
Approval and Vesting Order for 375 Porte Road dated June 13, 2025
  • Closing terms vesting effective upon delivery of Receiver's Certificate confirming payment, satisfied conditions, and completion of the Transaction
  • Order date 13 June 2025
  • Purchaser Sara Qadeer and Talha Azim Butt · the land and building known municipally as 371 Porte Road, Ajax, Ontario and the chattels listed in the Sale Agreement (collectively, the ' Purchased Assets ') · real property · approved
  • Stalking horse Subscribers
PDF · Subscribers
Endorsement of Justice Cavanagh dated June 13, 2025
  • Presiding officer Justice Cavanagh
PDF · Subscribers
Motion Record of the Respondents dated June 12, 2025
  • Recovery outcome Entries: per unstated; per estimated · Table missing:
PDF · Subscribers
Factum of the Receiver dated June 10, 2025
  • Counsel DLA Piper (Canada) LLP
PDF · Subscribers
Motion Record of the Receiver dated May 30, 2025
  • Recovery outcome Entries: per unstated; per estimated · Table missing:
PDF · Subscribers
Third Report of the Receiver dated May 30, 2025
  • Closing confirmed Closed · date not stated
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 10 more extracted facts
PDF · Subscribers
Endorsement of Justice Steele dated March 24, 2025
  • Presiding officer Justice Steele
PDF · Subscribers
Sale approval Order re 25 Madison dated March 24, 2025
  • Closing terms Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions
  • Order date 24 March 2025
  • Presiding officer Justice Steele
  • Purchaser Zeng Jie Wang · the land and building known municipally as 25 Madison Avenue, Richmond Hill, Ontario and the chattels listed in the Sale Agreement · real property · approved
  • + 2 more extracted facts
PDF · Subscribers
Factum re Sale Approval Motion for 25 Madison
  • Counsel DLA Piper (Canada) LLP
PDF · Subscribers
Motion Record of the Receiver dated March 14, 2025
  • Recovery outcome Entries: per estimated; per unstated · Stated on: 2025-03-14 · Table missing:
PDF · Subscribers
Second Report as Receiver and Manager dated March 13, 2025
  • Operational summary The receivership's principal purpose is to sell the Receivership Assets; this report focuses on the proposed sale of the 25 Madison property after a marketing process that yielded several terminated offers, and recommends Court approval of the sale and a distribution to the senior secured creditor Foremost, which will not be repaid in full.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 10 more extracted facts
PDF · Subscribers
Court Order dated February 3, 2025
  • Presiding officer Justice Kimmel
PDF · Subscribers
Endorsement of Justice Kimmel dated February 3, 2025
  • Presiding officer Justice Kimmel
PDF · Subscribers
Motion Record of the Receiver dated January 21, 2025PDF · Subscribers
First Report of the Receiver dated January 20, 2025
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Endorsement of Justice Black dated October 21, 2024
  • Presiding officer Justice Black
PDF · Subscribers
Receivership Appointment Order dated October 21, 2024
  • Applicant Foremost Mortgage Holding Corporation
  • Appointee KSV Restructuring Inc.
  • Appointee role receiver and manager
  • Commencement date 21 October 2024
  • + 6 more extracted facts
PDF · Subscribers
Factum of the Applicant dated October 17, 2024PDF · Subscribers
Service List as at October 11, 2024
  • Counsel Chaitons LLP
PDF · Subscribers
Fresh as Amended Notice of Application of the Applicant dated October 10, 2024
  • Applicant Foremost Mortgage Holding Corporation
  • Appointee KSV Restructuring Inc.
  • Appointee role receiver and manager
  • Counsel Paliare Roland Rosenberg Rothstein LLP
  • + 3 more extracted facts
PDF · Subscribers
Affidavit of Andrew Stern sworn August 2, 2024PDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Barakaa Developer Inc., Lerrato Inc. and 2145499 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/barakaa-developer-inc-lerrato-inc-and-2145499-ontario-inc

Sources last checked · summary updated 20 August 2026 · Report a correction · Printed from proceedings.ca/case/barakaa-developer-inc-lerrato-inc-and-2145499-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.