Proceedings.

Maplequest Ventures Inc. and Digram Developments Caledon Inc.

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Active
Proceeding
Receivership (court-appointed)subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
Court
Ontario Superior Court of Justice
File
CV-24-00722148-00CL
Industry
Real estate · Residential development
Filings held30
Last activity13 Mar 2026
On the record862 days
Secured debtSubscribers
OverviewSummary updated

Maplequest Ventures Inc. and Digram Developments Caledon Inc. have been under the receivership of KSV Restructuring Inc. since June 26, 2024, when the Ontario Superior Court of Justice (Commercial List) made an order under subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act on the application of KingSett Mortgage Corporation and First Source Financial Management Inc. (Court File No. CV-24-00722148-00CL). As at September 30, 2024, the Receiver reported KingSett owed approximately $51.6 million by Maplequest, secured by a first mortgage on the Heritage property, collateral charges over Digram's Dotchson, Portman, Breckonwood and Phyllis properties and a second charge on Countryside, and First Source owed approximately $49 million, secured by a first mortgage on Countryside. Construction liens of $791,768 (Niran Construction Ltd.) and $80,709 (Penco Drywall Ltd.) are registered against Digram properties. The receivership remains active.

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Case updates30 dated entries
#Sale

The court granted an approval and vesting order for the sale to Lakhvir Kaur. 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 dated October 3, 2025

#Report

The officer filed report no. Supplement to the Second Report. The Receiver reports on the Respondents' late competing offer for the Phyllis Real Property, which it found deficient (wrong form, no Town consent, inadequate deposit). The Respondents did not submit a revised offer, so the Receiver recommends the Court approve the Phyllis Transaction vesting order and dismiss the Respondents' cross-motion.

Source: Supplement to the Second Report of the Receiver dated September 26, 2025

Parties

Debtor

Maplequest Ventures Inc. and Digram Developments Caledon Inc.

Receiver

KSV

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice CorozaCourt of Appeal for Ontario2 orders, Mar 20261 case on record
Justice BlackOntario Superior Court of Justice2 orders, Oct 2025198 cases on record
Justice SteeleOntario Superior Court of Justice2 orders, Sep 2025245 cases on record
Justice OsborneOntario Superior Court of Justice2 orders, Jun 2024168 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverKSVBennett Jones LLP21 Nov 2025Service list · 21 Nov 2025
ReceiverKSV Restructuring IncBennett Jones LLP2 Oct 2024Factum · 2 Oct 2024
ApplicantOsler, Hoskin & Harcourt LLP26 Jun 2024Order · 26 Jun 2024
DebtorMaplequest Ventures Inc. and Digram Developments Caledon Inc.Friedmans Law Firm17 Sep 2025Application · 17 Sep 2025
CreditorBrampton Area 48 Landowners IncWhelton Hiutin LLP21 Nov 2025Service list · 21 Nov 2025
CreditorNiran Construction LtdPallett Valo LLP21 Nov 2025Service list · 21 Nov 2025
CreditorPrimont Homes (Caledon) IncThornton Grout Finnigan LLP21 Nov 2025Service list · 21 Nov 2025
CreditorRCP-F 4C (September 1, 2020)Friedmans Law Firm17 Sep 2025Application · 17 Sep 2025
CreditorTarion Warranty CorporationTorys LLP21 Nov 2025Service list · 21 Nov 2025
CreditorTown of CaledonCassels Brock & Blackwell LLP21 Nov 2025Service list · 21 Nov 2025
CreditorVector Financial Services LimitedRobins Appleby LLP21 Nov 2025Service list · 21 Nov 2025
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredKingSett Mortgage Corporation · in 28 casesFirst ranking mortgage charge against the Heritage Real Property; first ranking mortgage charge over Dotchson, Portman, Breckonwood and Phyllis Real Properties (Digram) as collateral security; second ranking mortgage charge (behind First Source) against the Countryside Real Property — Approximate figure per Receiver ('owed approximately $51.6 million'); interest and fees continue to accrue; KingSett is principal financial stakeholder in both loans — debtor: Maplequest Ventures Inc. · as of 30 Sep 2024$51.6MFirst Report of the Receiver dated September 30, 2024
4Secured
4Secured
4Secured
5PMSI / lessors
8Unsecured
8Unsecured
8Unsecured
8Unsecured

8 more claims in 3 classes The stack holds Secured, PMSI / lessors and Unsecured claims.

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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.

Sale processAs stated in the filings

3 transactions · 1 not completed · 1 approved · 1 closed — Transaction approved by the CourtApproval and Vesting Order dated October 3, 2025 · 3 Oct 2025

PurchaserPriceStatusSource
Auriga Homes Ltd.the Purchased Assets under the revised form of the Respondents' APS · real propertySubscribersNot completedSecond Supplement to the Second Report of the…
Phyllis Qianthe Purchased Assets · real property · agreement 19 Sep 2025SubscribersApprovedSecond Supplement to the Second Report of the…
Lakhvir Kaurall of Digram Developments Caledon Inc.'s right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · real property · agreement 31 Jul 2025not statedClosed14 Oct 2025Receiver's Certificate re 54 Phyllis Drive…
AdvisorsJones Lang LaSalle Real Estate Services, Inc. (listing broker); RE/MAX Excel Realty Limited (listing broker)Supplement to the First Report of the Receiver dated October 2, 2024
Closing termsvesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditionsApproval and Vesting Order dated October 3, 2025
Documents
30 filings
DateDocumentFile
Court of Appeal Order dated March 13, 2026
  • Counsel Bennett Jones LLP
  • Presiding officer Justice Coroza
PDF · Subscribers
Endorsement of Justice Coroza dated March 13, 2026
  • Presiding officer Justice Coroza
PDF · Subscribers
Mortion for Leave to Appeal dated November 24, 2025PDF · Subscribers
Motion Record of the Responding Party, Receiver, for a Motion in Writing dated November 24, 2025
  • Counsel Bennett Jones LLP
PDF · Subscribers
Service List as at November 21, 2025
  • Counsel Cassels Brock & Blackwell LLP
PDF · Subscribers
Affidavit of Service of Susan Guo dated November 13, 2025
  • Counsel Friedmans LLP
PDF · Subscribers
Appellants' Book of Authorities dated November 7, 2025PDF · Subscribers
Factum of the Appellants dated November 7, 2025PDF · Subscribers
Motion Record of the Receiver dated November 7, 2025PDF · Subscribers
Receiver's Certificate re 54 Phyllis Drive dated October 14, 2025
  • Closing confirmed Closed · 14 Oct 2025 · Lakhvir Kaur
PDF · Subscribers
Approval and Vesting Order dated October 3, 2025
  • Closing terms vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions
  • Order date 3 October 2025
  • Presiding officer Justice W.D. Black
  • Purchaser Lakhvir Kaur · all of Digram Developments Caledon Inc.'s right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · real property · approved
  • + 2 more extracted facts
PDF · Subscribers
Endorsement of Justice Black dated October 3, 2025
  • Presiding officer Justice Black
PDF · Subscribers
Supplementary Responding Motion Record dated October 3, 2025PDF · Subscribers
Second Supplement to the Second Report of the Receiver dated October 2, 2025
  • Purchaser Phyllis Qian · the Purchased Assets · real property · approved; Auriga Homes Ltd. · the Purchased Assets under the revised form of the Respondents' APS · real property · not completed
  • Sale outcome Sale did not complete — The revised Respondents' APS with Auriga has not been countersigned and the Receiver continues to have concerns about closing, while remaining bound by the Phyllis APS
  • Financial position · Stalking horse Subscribers
PDF · Subscribers
Supplement to the Second Report of the Receiver dated September 26, 2025
  • Operational summary The Receiver reports on the Respondents' late competing offer for the Phyllis Real Property, which it found deficient (wrong form, no Town consent, inadequate deposit). The Respondents did not submit a revised offer, so the Receiver recommends the Court approve the Phyllis Transaction vesting order and dismiss the Respondents' cross-motion.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Cross Motion Record of the Respondents dated September 17, 2025
  • Counsel Friedmans LLP
PDF · Subscribers
Endorsement of Justice Jana Steele dated September 17, 2025
  • Presiding officer Justice Jana Steele
PDF · Subscribers
Revised Sealing and Ancillary Matters Order dated September 17, 2025
  • Presiding officer Justice Steele
PDF · Subscribers
Factum of the Receiver dated September 15, 2025PDF · Subscribers
Motion Record of the Receiver dated September 10, 2025PDF · Subscribers
Second Report of the Receiver dated September 10, 2025PDF · Subscribers
Sale Process Approval Order dated October 7, 2024
  • Order date 7 October 2024
  • Presiding officer Justice Kimmel
  • Sale outcome Sale process approved — Sale Process is hereby approved
  • Break fee Subscribers
  • + 1 more extracted fact
PDF · Subscribers
Factum of the Receiver dated October 2, 2024
  • Counsel Bennett Jones LLP
PDF · Subscribers
Supplement to the First Report of the Receiver dated October 2, 2024
  • Sale advisor Jones Lang LaSalle Real Estate Services, Inc. (listing broker); RE/MAX Excel Realty Limited (listing broker)
  • Stalking horse Subscribers
PDF · Subscribers
First Report of the Receiver dated September 30, 2024
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Motion Record of the Receiver dated September 30, 2024PDF · Subscribers
Endorsement of Justice Osborne dated June 26, 2024
  • Presiding officer Justice Osborne
PDF · Subscribers
Receivership Order dated June 26, 2024
  • Applicant KingSett Mortgage Corporation and First Source Financial Management Inc.
  • Appointee KSV Restructuring Inc.
  • Appointee role receiver and manager
  • Commencement date 26 June 2024
  • + 6 more extracted facts
PDF · Subscribers
Application Record of KingSett Mortgage Corporation et al. dated June 14, 2024 - Volume I of IIPDF · Subscribers
Application Record of KingSett Mortgage Corporation et al. dated June 14, 2024 - Volume II of II
  • Applicant KINGSETT MORTGAGE CORPORATION and FIRST SOURCE FINANCIAL MANAGEMENT INC.
  • Appointee KSV Restructuring Inc.
  • Appointee role Receiver
  • Commencement date 14 June 2024
  • + 3 more extracted facts
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., “Maplequest Ventures Inc. and Digram Developments Caledon Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/maplequest-ventures-inc-and-digram-developments-caledon-inc

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Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/maplequest-ventures-inc-and-digram-developments-caledon-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.