Florentine Financial Corporation and A&H Asset Auctions Inc.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended and section 101 of the Courts of Justice Act
- File
- CV-24-727009-00CL
- Industry
- Real estate
Florentine Financial Corporation and A&H Asset Auctions Inc. remain in receivership before the Ontario Superior Court of Justice (Commercial List), where MNP Ltd. was appointed Receiver on the application of 1000877740 Ontario Inc. under subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, court file CV-24-00727009-00CL. The applicant holds a $900,000 charge on the Devon Property and first-ranking general security over both companies' inventory, equipment, accounts and other property, assigned from TD in May 2024 under a December 17, 2020 loan agreement amended January 24, 2023. Peel Condominium Corporation #346 asserts $930,193.11 as at December 31, 2025, of which the Receiver has confirmed $775,497.33 and continues to investigate $154,694.98; its registered lien is $5,055.00. The Receiver abandoned a Rolls-Royce appraised at $33,000 on June 3, 2025, against a $102,765.49 claim by Grand Touring Automobiles.
The court granted an approval and vesting order for the sale to South Coast British Columbia Transportation Authority. 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 the Transaction. Sealed: Confidential Appendix '1' and Confidential Appendix '2' to the First MNP Report.
Source: Approval and Vesting Order
Case update
Florentine Financial: the Dunbar Street trust claim settles under seal
Justice Dietrich approved on September 25 a settlement in which a sealed payment to Amir Durrani extinguishes the proprietary and tax-arrears claims he and Federal Auction Service advanced in a March motion, and directed MNP to pay 740 Ontario, after that payment and approved fees, the funds above a $200,000 holdback, up to its debt.
Debtor
Florentine Financial Corporation and A&H Asset Auctions Inc.
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dietrich | Ontario Superior Court of Justice | 3 orders, Sep 2026 | 132 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Reconstruct LLP | 31 Mar 2025 | Order · 25 Sep 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | 1000877740 Ontario Inc. (740 Ontario, assigned from TD)as of registered amount — Charge/mortgage registered against the Devon Property; also first-ranking general security agreements over Florentine's and A&H's inventory, equipment, accounts, and other property including motor vehicles (Loan Agreement principal CAD $900,000 dated Dec 17, 2020, amended Jan 24, 2023, accruing interest ~3.60% per annum plus costs); PPSA registrations Feb 2, 2021 (Nos. 20210202 0929 1590 3019 and 20210202 0930 1590 3020) assigned from TD to 740 Ontario per Financing Change Statement dated May 28, 2024 — Related party - directing mind of 740 Ontario (William Hristovski | $900K | Second Report to the Court dated |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 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.
2 transactions · 1 closed · 1 proposed — the Dunbar Property has been sold with the approval of the Court; the Devon Property is nearly ready to be marketed and soldSecond Report to the Court dated · 6 Mar 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| South Coast British Columbia Transportation Authoritythe Debtors' right, title and interest in and to the real property at 5649 Dunbar Street, Vancouver, BC (the 'Dunbar Property') · real property · agreement 31 Jan 2025 | Subscribers | Closeddate not stated | Second Report to the Court dated |
| unnamed purchaser of the Devon Property, to be sold via listing processthe Devon Property · real property | not stated | Proposed | Second Report to the Court dated |
2 engagements · 2 firms — latest: MNP Ltd.Second Report to the Court dated · 6 Mar 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| MNP Ltd.Receiver | — | — | — | Second Report to the Court dated · 6 Mar 2026 | |
| Reconstruct LLPCounsel | — | — | Second Report to the Court dated · 6 Mar 2026 |
3 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Ancillary Relief Order
| PDF · Subscribers | |
Distribution Order
| PDF · Subscribers | |
Settlement and Distribution Approval Order
| PDF · Subscribers | |
Second Report to the Court dated
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Motion Record (Re: Approval & Vesting Order)
| PDF · Subscribers | |
Court Order (Replacing the previous Receiver and Appointing MNP LTD. as a Receiver) dated
| 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., “Florentine Financial Corporation and A&H Asset Auctions Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/florentine