#Report
The receivership over Golden Dragon Ho 9 Inc. began on June 14, 2017, following Royal Bank of Canada's application for MNP Ltd.'s appointment as receiver.
Source: Receiver first report to court
Golden Dragon Ho 9 Inc.
FollowClosed
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- 17-72944
Filings held1
Last activity14 Jun 2017
On the record3,386 days
Secured debt$13M
OverviewSummary updated
Golden Dragon Ho 9 Inc. is in court-appointed receivership before the Ontario Superior Court of Justice, commenced June 14, 2017 under file no. 17-72944, on the application of Royal Bank of Canada, with MNP Ltd. appointed receiver. Royal Bank of Canada is the senior secured creditor, owed $13,007,825.27 as of April 20, 2018 plus a daily per diem of $1,022.40, secured by a first mortgage on the Golden Property, an assignment of rents, and Chi Van Ho's personal guarantee. Kingsett Mortgage Corporation holds a registered third mortgage of $12,000,000, additionally secured by a related property owned by the guarantor that was sold in April 2018 with proceeds paid to Kingsett. Atrium Mortgage Corporation is owed $2,306,015.73 as of May 16, 2018 under a registered second mortgage, and the City of Ottawa is owed $276,496.57 in outstanding property taxes.
Case updates1 dated entry
Parties
Debtor
Golden Dragon Ho 9 Inc.
Receiver
MNP
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 556 casesFirst charge/mortgage on Golden Property registered Feb 19, 2016 (OC1765614), assignment of rents (OC1765622), personal guarantee of Chi Van Ho; First Agreement commitment letter dated Dec 23, 2015 for $13,000,000.00 — Senior secured creditor; plus daily per diem of $1,022.40 from April 20, 2018; earlier stated indebtedness as of June 9, 2017 was $12,756,946.07 (prose approximation from default demand period); legal opinion confirms valid first charge — debtor: Golden Dragon Ho 9 Inc. · as of 20 Apr 2018 | $13M | Receiver first report to court |
| Secured | Atrium Mortgage Corporation (Canadian Mortgage Servicing Corporation)Registered second mortgage on Golden Property, registered amount $2,000,000.00 — Plus daily per diem of $585.49 from May 16, 2018 (per Atrium payout letter; report text at para 7(h) cites $585.40); legal opinion confirms valid second charge; registered mortgage amount of $2,000,000.00 is the original registered principal, not the outstanding balance — debtor: Golden Dragon Ho 9 Inc. · as of 16 May 2018 | $2.31M | Receiver first report to court |
| Secured | City of Ottawa · in 11 casesMunicipal property tax lien — Outstanding property taxes plus interest, per June 4, 2018 statement of account — debtor: Golden Dragon Ho 9 Inc. · as of 4 Jun 2018 | $276K | Receiver first report to court |
| Secured | Kingsett Mortgage Corporation · in 28 casesRegistered third mortgage on Golden Property, registered amount $12,000,000.00 — Registered principal amount, not a stated outstanding balance; mortgage supported by a first charge on another property (Golden Dragon Ho 7 Inc.) owned by the guarantor; that property was sold and proceeds paid to Kingsett in April 2018 — debtor: Golden Dragon Ho 9 Inc. | — | Receiver first report to court |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
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.
RecoveriesAs stated in the filings
Closed · the record states no distribution outcome.
Documents1 filing
| Date | Document | File |
|---|---|---|
Receiver first report to court
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Golden Dragon Ho 9 Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/golden-dragon-ho-9-inc