CIM Bayview Creek Inc.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- Industry
- Real estate · Residential development
CIM Bayview Creek Inc., together with Bayview Creek (CIM) LP and CIM Invests Development Inc., was placed in court-appointed receivership in Ontario on March 2, 2022 under BIA s. 243 and provincial Judicature Act authority; the proceeding is now closed. DUCA Financial Services Credit Union Ltd. held a first mortgage over the Property registered May 18, 2016 in an original principal amount of $20,720,000.00, a general security agreement and a notice of assignment of rents, supported by personal guarantees from Jiubin Feng, Dianyuan Zhang and Xiaoxin Zhang; a discharge statement showed $22,161,944.87 owing as at June 29, 2021, with a per diem of $4,796.82. A second mortgage in favour of Bryton Capital Corp. GP Ltd. was registered June 17, 2019 as part of forbearance arrangements and later increased under a July 2020 forbearance agreement. A $15,000,000 charge in favour of Romspen Investment Corporation and a third mortgage registered September 4, 2020 for GR (CAN) Investment Co. Ltd. and Monest Financial Inc. were each registered without DUCA's knowledge or consent, in breach of its mortgage terms.
Motion Record of the Receiver returnable November 28, 2023 — Application / notice of application
Motion Record, Returnable August 1, 2023 (Dated July 31, 2023) — Application / notice of application
Motion Record, Returnable August 1, 2023 (Dated July 14, 2023) — Application / notice of application
Receivership Order of The Honourable Justice Cavanagh dated March 2, 2022 — Receivership order
Application Record to Appoint Receiver Part 2/5, Returnable August 11, 2021 — Application / notice of application
Application Record to Appoint Receiver Part 3/5, Returnable August 11, 2021 — Application / notice of application
Application Record to Appoint Receiver Part 4/5, Returnable August 11, 2021 — Application / notice of application
Application Record to Appoint Receiver Part 5/5, Returnable August 11, 2021 — Application / notice of application
Supplementary Application Record to Appoint Receiver, Returnable August 11, 2021 — Application / notice of application
Application Record to Appoint Receiver Part 1/5, Returnable August 11, 2021 — Application / notice of application
Debtor
CIM Bayview Creek Inc.
Receiver
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 9 orders, Mar 2022 – Jul 2022 | 318 cases on record |
| Justice Penny | Ontario Superior Court of Justice | 3 orders, Aug 2023 | 196 cases on record |
| Justice Kimmel | Ontario Superior Court of Justice | 2 orders, Nov 2023 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Receivermsi Spergel inc. | Borden Ladner Gervais LLP | 21 Jul 2022 | Order · 21 Jul 2022 |
| DebtorCIM Bayview Creek Inc. | Hummingbird Lawyers LLP · Miller Thomson LLP | 8 Mar 2022 | Service list · 8 Mar 2022 |
| CreditorBryton Capital Corp | Owens Wright LLP | 2 Mar 2022 | Order · 2 Mar 2022 |
| CreditorCardinal Advisory Limited | Lawyer | 8 Mar 2022 | Service list · 8 Mar 2022 |
| CreditorCardinal Advisory Limited in connection with this matter | Rory McGovern | 1 Aug 2023 | Application · 31 Jul 2023 |
| Creditordebenture holders Tracy Hui and Jojo Hui | Owens Wright LLP · Torys LLP | 8 Mar 2022 | Service list · 8 Mar 2022 |
| CreditorDUCA Financial Services Credit Union Ltd | Devry Smith Frank LLP | 8 Mar 2022 | Service list · 8 Mar 2022 |
| CreditorFengate Capital Management Ltd | McCarthy Tétrault LLP | 1 Aug 2023 | Endorsement · 1 Aug 2023 |
| CreditorFengate Redevelopment Fund GP Inc | McCarthy Tétrault LLP | 1 Aug 2023 | Application · 31 Jul 2023 |
| CreditorGrant Thornton Limited | Cassels Brock & Blackwell LLP | 8 Mar 2022 | Service list · 8 Mar 2022 |
| CreditorRSM Canada Limited, private appointed by Bryton Capital Corp | Pallett Valo LLP | 8 Mar 2022 | Service list · 8 Mar 2022 |
| CreditorSunny Communities (Bayview Creek Inc.) | Minden Gross LLP | 1 Aug 2023 | Endorsement · 1 Aug 2023 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | DUCA Financial Services Credit Union Ltd. · in 19 casesFirst mortgage/charge (DUCA Charge) registered May 18, 2016; General security agreement (DUCA GSA); Notice of assignment of rents; original principal amount $20,720,000.00 — Discharge statement shows $22,161,944.87 owing as at June 29, 2021, with per diem of $4,796.82; prose states principal amount of $20,720,000.00 plus interest and legal fees. Personal guarantees provided by Jiubin Feng, Dianyuan Zhang and Xiaoxin Zhang (individuals, note only). — debtor: Bayview Creek (CIM) LP, CIM Invests Development Inc., CIM Bayview Creek Inc. · as of 29 Jun 2021 | $22.2M | Application Record to Appoint Receiver Part 1/5, Returnable August 11, 2021 |
| Secured | |||
| Secured | |||
| Secured | |||
| Secured |
4 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
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.
Secured creditors: paid in full.EstimatedApplication Record to Appoint Receiver Part 4/5 · 11 Aug 2021
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | — | — | paid in full | Estimatedper the debtor | Application Record to Appoint Receiver Part 4/5 · 11 Aug 2021 |
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.
2 engagements · 2 firms — latest: Cassels Brock & Blackwell LLP, 16 Nov 2020 – 5 Feb 2021, approvedMotion Record, Returnable August 1, 2023 · 31 Jul 2023
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Cassels Brock & Blackwell LLPCounsel to the trustee | 16 Nov 2020 – 5 Feb 2021Approved | Motion Record, Returnable August 1, 2023 · 31 Jul 2023 | |||
| Grant Thornton LimitedTrustee | 7 Oct 2020 – 5 Feb 2021Approved | Motion Record, Returnable August 1, 2023 · 31 Jul 2023 |
6 blurred figures above
What each firm billed — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Discharge Order dated November 28, 2023
| PDF · Subscribers | |
Endorsement of The Honourable Justice Kimmel dated November 28, 2023
| PDF · Subscribers | |
| Motion Record of the Receiver returnable November 28, 2023 | PDF · Subscribers | |
Administration and Interim Distribution Order dated August 1, 2023
| PDF · Subscribers | |
Approval and Vesting Order dated August 1, 2023
| PDF · Subscribers | |
Endorsement dated August 1, 2023
| PDF · Subscribers | |
Motion Record, Returnable August 1, 2023 (Dated July 31, 2023)
| PDF · Subscribers | |
| Motion Record, Returnable August 1, 2023 (Dated July 14, 2023) | PDF · Subscribers | |
Statement of Law, July 14, 2023
| PDF · Subscribers | |
Endorsement of The Honourable Justice Cavanagh dated July 21, 2022
| PDF · Subscribers | |
Sales Process Approval Order of The Honourable Justice Cavanagh dated July 21, 2022
| PDF · Subscribers | |
Endorsement of The Honourable Justice Cavanagh dated July 12, 2022
| PDF · Subscribers | |
| Motion Record, Returnable August 11, 2022 | PDF · Subscribers | |
Endorsement of The Honourable Justice Cavanagh dated June 6, 2022
| PDF · Subscribers | |
Factum of the Appellants
| PDF · Subscribers | |
Endorsement of The Honourable Justice Cavanagh dated March 30, 2022
| PDF · Subscribers | |
Endorsement of The Honourable Justice Cavanagh dated March 25, 2022
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Endorsement of The Honourable Justice Cavanagh dated March 2, 2022
| PDF · Subscribers | |
Order of The Honourable Justice Cavanagh (dismissing Bryton's application) dated March 2, 2022
| PDF · Subscribers | |
Receivership Order of The Honourable Justice Cavanagh dated March 2, 2022
| PDF · Subscribers | |
| Application Record to Appoint Receiver Part 2/5, Returnable August 11, 2021 | PDF · Subscribers | |
| Application Record to Appoint Receiver Part 3/5, Returnable August 11, 2021 | PDF · Subscribers | |
Application Record to Appoint Receiver Part 4/5, Returnable August 11, 2021
| PDF · Subscribers | |
| Application Record to Appoint Receiver Part 5/5, Returnable August 11, 2021 | PDF · Subscribers | |
| Supplementary Application Record to Appoint Receiver, Returnable August 11, 2021 | PDF · Subscribers | |
Application Record to Appoint Receiver Part 1/5, Returnable August 11, 2021
| 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., “CIM Bayview Creek Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/cim-bayview-creek-inc