Mariman Homes – 2557386 Ontario Inc. and 2363823 Ontario Inc.

Mariman Homes — 2557386 Ontario Inc. and 2363823 Ontario Inc. — was placed in receivership under s. 243 of the Bankruptcy and Insolvency Act by order of the Ontario Superior Court of Justice (Commercial List) on January 16, 2024, file CV-23-00699432-00CL, on the application of MarshallZehr Group Inc., 2557's senior lender under a first-ranking $35 million charge on the York Property. That property sold for $16.5 million through a MarshallZehr credit bid, the balance payable by assumption of its secured debt; the sale did not assume the 54 pre-receivership agreements of purchase and sale under which York Purchasers paid approximately $10 million in deposits that were not held in trust. The proceeding is closed: the October 1, 2024 discharge order authorized $171,909 to VanRooyen Earthmoving Ltd. on its Construction Act holdback priority, and the Receiver was discharged over the Mariman Properties.