Approved a template vesting order and Receiver's Certificate process for the Doric Unit sales, with the pricing schedule sealed in Confidential Appendix 1 to the Sixth Report.
Source: Doric Units Sale Approval Order dated September 18, 2026
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.
Approved a template vesting order and Receiver's Certificate process for the Doric Unit sales, with the pricing schedule sealed in Confidential Appendix 1 to the Sixth Report.
Source: Doric Units Sale Approval Order dated September 18, 2026
Permitted the ten Doric Units to be sold without further court approval where the price meets the sealed target or floor price and the template agreement is used.
Source: Sale Process Approval Order dated September September 18, 2026
Amended Notice of Motion re Doric Sale Approval dated September 4, 2026 — Application / notice of application
Receiver's Certificate re 23 Madison Avenue dated December 31, 2025 — Court officer certificate
The court granted an approval and vesting order for the sale to Mohammed Al-Sharafi and Fatima Alawi. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of purchase price and satisfaction/waiver of closing conditions.
Source: Approval and Vesting Order re 23 Madison Avenue dated December 1, 2025
The court granted an approval and vesting order for the sale to Muhammed Jehanzeb Agha. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of Transaction.
Source: Approval and Vesting Order re 369 Porte Rd. dated December 1, 2025
The court granted an approval and vesting order for the sale to Rohitkumar M. Patel and Arvindaben R. Patel. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions.
Source: Approval and Vesting Order re 377 Porte Rd. dated December 1, 2025
Receiver reported replacement transactions negotiated with the occupying purchasers of the disclaimed 369 Porte, 377 Porte and 23 Madison properties, seeking approval of them and a distribution to Foremost.
Statement of receipts and disbursements for October 21, 2024 to October 8, 2025 showed combined receipts of $7,336,002, disbursements of $7,253,192 and $82,810 on hand across the three estates.
Source: Supplement to the Fourth Report of the Receiver dated October 8, 2025
Supplemental Motion Record of the Receiver dated October 8, 2025 — Application / notice of application
Book of Authorities of the Receiver dated September 29, 2025 — Application / notice of application
Notice of Motion re APS Disclaimer dated August 15, 2025 — Application / notice of application
Receiver put Foremost's mortgage and costs on the Lerrato properties at $4,107,000 and projected a $1,357,000 shortfall before the Receiver's Borrowing Charge, with nothing for subordinate mortgagees or other creditors.
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
Approval and vesting order granted for the sale of 371 Porte Road, Ajax to Sara Qadeer and Talha Azim Butt, vesting on delivery of the Receiver's Certificate.
Source: Approval and Vesting Order for 375 Porte Road dated June 13, 2025
Recommended approval of negotiated sales of 371, 373 and 375 Porte Road, Ajax to the occupying purchasers, each crediting $175,000 in deposits, and projected a $1,357,000 Foremost shortfall.
The court granted an approval and vesting order for the sale to Zeng Jie Wang. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions.
Source: Sale approval Order re 25 Madison dated March 24, 2025
Recommended approval of the $2,401,000 sale of 25 Madison Avenue, Richmond Hill to Zen Jie Wang after five offers, projecting a $1,333,000 Foremost shortfall and nothing for subordinate mortgagees.
Source: Second Report as Receiver and Manager dated March 13, 2025
Court appointed KSV Restructuring Inc. receiver and manager of the three debtors on Foremost Mortgage Holding Corporation's application, commencing the receivership.
Source: Receivership Appointment Order dated October 21, 2024
Fresh as Amended Notice of Application of the Applicant dated October 10, 2024 — Application / notice of application
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.
Debtor
Barakaa Developer Inc., Lerrato Inc. and 2145499 Ontario Inc.
Receiver
KSV
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 8 orders, Jun 2025 – Dec 2025 | 318 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 5 orders, Mar 2025 – Sep 2026 | 245 cases on record |
| Justice Myers | Ontario Superior Court of Justice | 4 orders, Oct 2025 – Jan 2026 | 117 cases on record |
| Justice Dunphy | Ontario Superior Court of Justice | 3 orders, Sep 2026 | 93 cases on record |
| Justice Kimmel | Ontario Superior Court of Justice | 2 orders, Feb 2025 | 198 cases on record |
| Justice Black | Ontario Superior Court of Justice | 2 orders, Oct 2024 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverKSV | DLA Piper (Canada) LLP | 21 Mar 2025 | Application · 21 Mar 2025 |
| ReceiverKSV Restructuring Inc | DLA Piper (Canada) LLP | 11 Oct 2024 | Service list · 11 Oct 2024 |
| Applicant | Paliare Roland Rosenberg Rothstein LLP | 10 Oct 2024 | Application · 10 Oct 2024 |
| DebtorBarakaa Developer Inc., Lerrato Inc. and 2145499 Ontario Inc. | Chaitons LLP | 11 Oct 2024 | Service list · 11 Oct 2024 |
| CreditorBIP Management Corporation and Galidan Inc | Fij Law LLP | 11 Oct 2024 | Service list · 11 Oct 2024 |
| CreditorForemost Mortgage Holding Corporation | Paliare Roland Rosenberg Rothstein LLP | 2 Jan 2026 | Factum · 2 Jan 2026 |
| CreditorNon- Stakeholders | Rohoman & Mohammed LLP | 3 Oct 2025 | Factum · 3 Oct 2025 |
| CreditorSanjive Joshi | Berkow Youd Lev-Farrell Das LLP | 11 Oct 2024 | Service list · 11 Oct 2024 |
| CreditorTripta Dhingra and 1417199 Ontario Limited | Nagpal Dutta Professional Corporation | 11 Oct 2024 | Service list · 11 Oct 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Foremost Mortgage Holding CorporationMortgage (registered prior to other mortgages) — Before interest, fees and other accruing costs; figures in $000s — debtor: 2145499 Ontario Inc. | $6.18M | First 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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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.
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
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Zen Jie Wanga home built by Barakaa located at 25 Madison Avenue, Richmond Hill · real property · agreement 12 Feb 2025 | Subscribers | Proposed | Second 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 2025 | not stated | Closeddate not stated | Third 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 2024 | not stated | Closed | Receiver'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 2024 | not stated | Closed | Receiver's Certificate re 373 Porte dated June… |
| Mohammed Alsharafi and Fatima Jeddi23 Madison · real property · agreement 29 Oct 2023 | Subscribers | Not completed | Fourth 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 2025 | Subscribers | Closeddate not stated | Fourth 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 2025 | Subscribers | Closed24 Jun 2025 | Receiver'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 2025 | Subscribers | Closeddate not stated | Fourth Report of the Receiver dated August 7,… |
| purchaser of 369 Porte, pending disclaimer motion369 Porte Road, Ajax · real property · agreement 12 Aug 2022 | Subscribers | Not completed | Fourth 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 2025 | not stated | Closed31 Dec 2025 | Receiver'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 2025 | not stated | Closed24 Feb 2026 | Receivers 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 2025 | Subscribers | Approved1 Dec 2025 | Approval and Vesting Order re 377 Porte Rd.… |
| Rohitkumar M. Patel and Arvidaben R. PatelPurchased Assets | not stated | Closed11 Dec 2025 | Receiver'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 property | Subscribers | Approved18 Sep 2026 | Sale Process Approval Order dated September… |
Unsecured creditors: no distribution. Foremost short.EstimatedMotion Record of the Receiver · 5 Sep 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Foremost | — | short by | per the receiver | Motion Record of the Receiver · 5 Sep 2025 |
| Unsecured | subordinate ranking mortgagees or other creditors | — | no distribution | Estimatedper the receiver | Motion 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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See all plansCumulative 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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See all plans| Date | Document | File |
|---|---|---|
Doric Units Sale Approval Order dated September 18, 2026
| PDF · Subscribers | |
Endorsement of Justice Dunphy dated September 18, 2026
| PDF · Subscribers | |
Sale Process Approval Order dated September September 18, 2026
| PDF · Subscribers | |
| Authorities Brief of the Receiver dated September 14, 2026 | PDF · Subscribers | |
| Factum of the Receiver dated September 14, 2026 | PDF · Subscribers | |
| Amended Notice of Motion re Doric Sale Approval dated September 4, 2026 | PDF · Subscribers | |
Endorsement of Justice Steele dated September 4, 2026
| PDF · Subscribers | |
Motion Record of the Receiver dated September 1, 2026
| PDF · Subscribers | |
Sixth Report of the Receiver dated August 31, 2026
| PDF · Subscribers | |
Receivers Certificate dated February 24, 2026
| PDF · Subscribers | |
| Affidavit of Beatrice Loschiavo sworn January 7, 2026 | PDF · Subscribers | |
Amended and Restated Order dated January 7, 2026
| PDF · Subscribers | |
Endorsement of Justice Myers dated January 7, 2026
| PDF · Subscribers | |
| Affidavit of Hitesh Jhaveri sworn January 6, 2026 | PDF · Subscribers | |
Factum of the Applicant - Foremost Mortgage Holding Corporation dated January 2, 2026
| PDF · Subscribers | |
Receiver's Certificate re 23 Madison Avenue dated December 31, 2025
| PDF · Subscribers | |
| Motion Record of the Applicant dated December 16, 2025 | PDF · Subscribers | |
Receiver's Certificate re 377 Porte dated December 11, 2025
| PDF · Subscribers | |
Ancillary Order dated December 1, 2025
| PDF · Subscribers | |
Approval and Vesting Order re 23 Madison Avenue dated December 1, 2025
| PDF · Subscribers | |
Approval and Vesting Order re 369 Porte Rd. dated December 1, 2025
| PDF · Subscribers | |
Approval and Vesting Order re 377 Porte Rd. dated December 1, 2025
| PDF · Subscribers | |
Endorsement of Justice Cavanagh dated December 1, 2025
| PDF · Subscribers | |
Factum of the Receiver dated November 27, 2025
| PDF · Subscribers | |
Supplement to Fifth Report of the Receiver dated November 26, 2025
| PDF · Subscribers | |
Fifth Report to the Court dated November 24, 2025
| PDF · Subscribers | |
| Motion Record of the Receiver dated November 24, 2025 | PDF · Subscribers | |
Court Order dated October 10, 2025
| PDF · Subscribers | |
| Court Order re Disclaimer of 23 Madison APS dated October 10, 2025 | PDF · Subscribers | |
Endorsement of Justice Myers dated October 10, 2025
| PDF · Subscribers | |
Supplement to the Fourth Report of the Receiver dated October 8, 2025
| PDF · Subscribers | |
| Supplemental Motion Record of the Receiver dated October 8, 2025 | PDF · Subscribers | |
Court Order re Porte Properties dated October 7, 2025
| PDF · Subscribers | |
Endorsement of Justice Steele dated October 7, 2025
| PDF · Subscribers | |
Book of Authorities of 377 Porte Purchasers dated October 3, 2025
| PDF · Subscribers | |
Factum of 377 Porte Purchasers dated October 3, 2025
| PDF · Subscribers | |
| Book of Authorities of the Receiver dated September 29, 2025 | PDF · Subscribers | |
| Factum of the Receiver re 23 Madison dated September 29, 2025 | PDF · Subscribers | |
| Factum of the Receiver re 369 and 377 Porte dated September 29, 2025 | PDF · Subscribers | |
| Affidavit of Rohitkumar Patel sworn September, 8 2025 | PDF · Subscribers | |
Motion Record of the Receiver dated September 5, 2025
| PDF · Subscribers | |
Endorsement of Justice Cavanagh dated August 26, 2025
| PDF · Subscribers | |
| Notice of Motion re APS Disclaimer dated August 15, 2025 | PDF · Subscribers | |
Motion Record of the Receiver datded August 8, 2025
| PDF · Subscribers | |
Fourth Report of the Receiver dated August 7, 2025
| PDF · Subscribers | |
Endorsement of Justice J. Dietrich dated August 5, 2025
| PDF · Subscribers | |
Receiver's Certificate re 371 Porte dated June 24, 2025
| PDF · Subscribers | |
Receiver's Certificate re 373 Porte dated June 24, 2025
| PDF · Subscribers | |
Receiver's Certificate re 375 Porte dated June 24, 2025
| PDF · Subscribers | |
| Ancillary Order dated June 13, 2025 | PDF · Subscribers | |
Approval and Vesting Order for 373 Porte Road dated June 13, 2025
| PDF · Subscribers | |
Approval and Vesting Order for 375 Porte Road dated June 13, 2025
| PDF · Subscribers | |
Endorsement of Justice Cavanagh dated June 13, 2025
| PDF · Subscribers | |
Motion Record of the Respondents dated June 12, 2025
| PDF · Subscribers | |
Factum of the Receiver dated June 10, 2025
| PDF · Subscribers | |
Motion Record of the Receiver dated May 30, 2025
| PDF · Subscribers | |
Third Report of the Receiver dated May 30, 2025
| PDF · Subscribers | |
Endorsement of Justice Steele dated March 24, 2025
| PDF · Subscribers | |
Sale approval Order re 25 Madison dated March 24, 2025
| PDF · Subscribers | |
Factum re Sale Approval Motion for 25 Madison
| PDF · Subscribers | |
Motion Record of the Receiver dated March 14, 2025
| PDF · Subscribers | |
Second Report as Receiver and Manager dated March 13, 2025
| PDF · Subscribers | |
Court Order dated February 3, 2025
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated February 3, 2025
| PDF · Subscribers | |
| Motion Record of the Receiver dated January 21, 2025 | PDF · Subscribers | |
First Report of the Receiver dated January 20, 2025
| PDF · Subscribers | |
Endorsement of Justice Black dated October 21, 2024
| PDF · Subscribers | |
Receivership Appointment Order dated October 21, 2024
| PDF · Subscribers | |
| Factum of the Applicant dated October 17, 2024 | PDF · Subscribers | |
Service List as at October 11, 2024
| PDF · Subscribers | |
Fresh as Amended Notice of Application of the Applicant dated October 10, 2024
| PDF · Subscribers | |
| Affidavit of Andrew Stern sworn August 2, 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., “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.