#Order
The court appointed Albert Gelman Inc. as receiver and manager, on the application of Extend Financial (CV) Holdings Inc. and Extend Financial Ltd.. Court file CL-26-00000332-0000.
Evertrust Development (Muskoka) Inc.
FollowActive
- 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
- CL-26-00000332-0000
OverviewSummary updated
Evertrust Development (Muskoka) Inc. is the subject of a receivership application brought on August 12, 2026 by Extend Financial (CV) Holdings Inc. and Extend Financial Ltd. in the Ontario Superior Court of Justice (Commercial List), file CL-26-00000332-0000, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. Albert Gelman Inc. is named as proposed receiver. Extend holds first-ranking charges over eight Turnberry Court properties in Bracebridge, with mortgage balances totalling $5,390,315 per the pre-filing report's property table, supported by guarantees from Jiancheng Zhou, 557 Ontario Inc. and 514 Ontario Inc. A review of the validity and enforceability of the mortgage security is in progress. Duca Financial Services Credit Union Ltd., Westmount Guarantee Services Inc. and Aviva Insurance Company of Canada also hold registered security. The proceeding is active.
Proceedings AIAsk this case — answers cite the filings
Case updates7 dated entries
#Filing
Second Supplementary Application Record – August 26, 2026 — Application / notice of application
4 earlier updates, back to 27 August 2026 — subscribers.
AnalysisAll insights
Filing brief
Evertrust: eight new homes a mortgagee could not sell on its own
Owed about $5.4 million on eight twelve-month lines of credit, Extend Financial had Albert Gelman Inc. appointed receiver of eight vacant semi-detached homes in Bracebridge on August 27, over the builder's opposition, after the court accepted that Ontario's new-home rules kept the lender from selling them by power of sale.
Parties
Debtor
Evertrust Development (Muskoka) Inc.
Receiver
Albert Gelman
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Aug 2026 | 288 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Robins Appleby LLP | 27 Aug 2026 | Order · 27 Aug 2026 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Extend Financial (CV) Holdings Inc. · in 2 cases21 Turnberry Mortgage, registered July 14, 2025; facility limit $648,375.00 — Approximately $692,241.92, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou — debtor: Evertrust Development (Muskoka) Inc. · as of 4 May 2026 | $692K | Application Record – August 12, 2026 |
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.
Documents7 filings
| Date | Document | File |
|---|---|---|
Endorsement of Justice Cavanagh dated August 27, 2026
| PDF · Subscribers | |
Order (appointing Receiver) dated August 27, 2026
| PDF · Subscribers | |
| Second Supplementary Application Record – August 26, 2026 | PDF · Subscribers | |
Supplementary Pre-Filing Report of the Receiver – August 26, 2026
| PDF · Subscribers | |
Pre-Filing Report of the Receiver – August 19, 2026
| PDF · Subscribers | |
Supplementary Application Record – August 19 2026
| PDF · Subscribers | |
Application Record – August 12, 2026
| 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., “Evertrust Development (Muskoka) Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/evertrust-development-muskoka-inc