Moatfield Drive
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 101 of the Courts of Justice Act, R.S.O. 1990, c C.43, as amended
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CV-24-00723994-00CL
- Industry
- Real estate · Rental & income property
Moatfield Drive is the subject of an active bankruptcy proceeding under the Bankruptcy and Insolvency Act, before the Ontario Superior Court of Justice (In Bankruptcy and Insolvency), Commercial List, under court file number CV-24-00723994-00CL. No further steps in the proceeding are on the record.
Supplemental Motion Record of Bank of China, dated July 21, 2026 — Application / notice of application
Motion Record (Bankruptcy Assignment Order), returnable July 23, 2026 — Application / notice of application
The officer filed report no. Fourth Report of the Receiver. The receivership sold the Debtor's sole material asset, the Moatfield office property, which closed June 4, 2026, and the Debtor no longer has material assets to administer; a bankruptcy order is now being sought to wind up remaining matters including CRA's claim.
The officer filed report no. Third Report of the Receiver. The Debtor is a holding company whose only asset is the mostly-vacant Moatfield office property; the Receiver is proceeding toward closing of the court-approved sale of the property while resisting an appeal challenging the sale approval order.
Source: Third Report of the Receiver
The officer filed report no. Second Report of the Receiver. The Receiver has been managing the Moatfield Property through a property manager, addressing tenancy defaults and lease terminations, resolving the Conterra and AZVB disputes, negotiating a further lease extension with anchor tenant Hitachi for a reduced lab area, and conducting a court-approved sale process culminating in an APS for the property, now seeking approval and vesting order.
The officer filed report no. Supplement to the First Report of the Receiver. The receiver is pursuing outstanding rent from five non-paying tenants at the Moatfield Property, having issued breach notices requiring payment of arrears by February 28, 2025, failing which leases would be terminated subject to court approval.
Source: Supplement to the First Report of the Receiver, dated February 14, 2025
Supplementary Motion Record, returnable February 18, 2025 — Application / notice of application
A receivership order was granted. Court file CV-24-00723994-00CL.
Source: Appointment Order (entered)
Guide
Power of sale vs foreclosure vs receivership in Canada
When a Canadian borrower stops paying a mortgage, the lender can sell the property itself, ask a court to foreclose, or have a receiver take control. How the routes differ by province, what each means for owners and tenants, and how long a receivership takes, drawn from the court record.
Precedent note
Reversing the Crown's GST/HST trust
Outside insolvency, the Crown's trust for unremitted GST/HST can rank ahead of a lender's security; a bankruptcy or a CCAA ends that priority. Seven 2026 files show lenders choosing their route, and four show the trust that survives both, for payroll source deductions.
Outcome brief
Moatfield Drive: after the sale, the bank short and the owner bankrupt
Bank of China (Canada) lent $60,000,000 in 2022 for two Don Mills office towers. After a contested receivership and two refusals of leave to appeal, the sale closed on June 4, 2026 for $39,683,728 after closing adjustments; on July 23 the court authorized and directed distributions to the bank and, on its motion, adjudged the owner bankrupt.
Debtor
Moatfield Drive
Receiver
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 6 orders, Feb 2025 – Mar 2025 | 245 cases on record |
| Justice Penny | Ontario Superior Court of Justice | 3 orders, Aug 2024 | 196 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 2 orders, Jul 2026 | 132 cases on record |
| Justice Black | Ontario Superior Court of Justice | 2 orders, Dec 2025 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverEY | Aird & Berlis LLP | 14 Feb 2025 | Order · 18 Feb 2025 |
| Applicant | Blake, Cassels & Graydon LLP | 14 Aug 2024 | Order · 27 Aug 2024 |
| DebtorMoatfield Drive | Lu Yun Law Pc | 14 Feb 2025 | Factum · 14 Feb 2025 |
| CreditorAZVB Inc | Cass And Campbell LLP | 14 Feb 2025 | Application · 14 Feb 2025 |
| CreditorHitachi Rail GTS Canada Inc | Borden Ladner Gervais LLP | 22 Aug 2024 | Affidavit · 22 Aug 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | His Majesty the King in Right of Canada (Canada Revenue Agency) · in 12 casesRegistered lien on title to the Real Property arising from a CRA Requirement to Pay (RTP), registered March 18, 2024. — Deemed-trust/tax lien class claim. The underlying RTP (approx. $1.18 million) was subsequently revoked by the CRA, but the registered lien remains on title to the Real Property per the affidavit. — debtor: 13995291 Canada Inc. · as of 18 Mar 2024 | $1.18M | Application Record |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
3 more claims in 1 class The stack holds Deemed trusts (CRA and other) and Secured claims.
Every creditor and every amount, drawn to scale.
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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.
Sale closed — The Sale Transaction closed on June 4, 2026 after two extensions.Fourth Report of the Receiver, dated July 14, 2026 · 14 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1001198779 Ontario Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 4 Nov 2025 | Subscribers | Closed4 Jun 2026 | Fourth Report of the Receiver, dated July 14,… |
Bank of China (Canada): shortfall.EstimatedFourth Report of the Receiver · 14 Jul 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredBOCC | Bank of China (Canada) | — | shortfall | Estimatedper the receiver | Fourth Report of the Receiver · 14 Jul 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
2 engagements · 2 firms — latest: Aird & Berlis LLPFourth Report of the Receiver · 14 Jul 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Aird & Berlis LLPCounsel | — | — | — | Fourth Report of the Receiver · 14 Jul 2026 | |
| Ernst & Young Inc.Receiver | — | — | — | not stated | Motion Record · 14 Jul 2026 |
1 blurred figure above
What each firm billed — each as the filing states it, with its source.
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See all plansCash on hand
$36.4M
As at 30 Jun 2026Fourth Report of the Receiver, dated July 14, 2026
Professional fees
As at
1 more reported figure
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Certificate of Appointment | PDF · Subscribers | |
Creditors' Package
| PDF · Subscribers | |
Bankruptcy Assignment Order, dated July 23, 2026
| PDF · Subscribers | |
Distribution and Ancillary Relief Order, dated July 23, 2026
| PDF · Subscribers | |
Supplemental Motion Record of Bank of China, dated July 21, 2026
| PDF · Subscribers | |
| Factum of Bank of China (Canada), dated July 20, 2026 | PDF · Subscribers | |
Factum of the Receiver (Ernst & Young Inc.)
| PDF · Subscribers | |
| Motion Record (Bankruptcy Assignment Order), returnable July 23, 2026 | PDF · Subscribers | |
Fourth Report of the Receiver, dated July 14, 2026
| PDF · Subscribers | |
Motion Record, returnable July 23, 2026
| PDF · Subscribers | |
| Endorsement of the Court of Appeal for Ontario | PDF · Subscribers | |
| Factum of the Appellants | PDF · Subscribers | |
Factum of the Receiver
| PDF · Subscribers | |
Motion Record of the Receiver
| PDF · Subscribers | |
Third Report of the Receiver
| PDF · Subscribers | |
| Appellant’s Certificate Respecting Evidence | PDF · Subscribers | |
| Notice of Appeal | PDF · Subscribers | |
Ancillary Relief Order, dated December 11, 2025
| PDF · Subscribers | |
Approval and Vesting Order, dated December 11, 2025
| PDF · Subscribers | |
Endorsement of Black, J., dated December 11, 2025
| PDF · Subscribers | |
Factum of the Receiver, dated December 8, 2025
| PDF · Subscribers | |
| Motion Record - Part 1 of 2 | PDF · Subscribers | |
Motion Record - Part 2 of 2
| PDF · Subscribers | |
Second Report of the Receiver - Part 1 of 2
| PDF · Subscribers | |
Second Report of the Receiver - Part 2 of 2
| PDF · Subscribers | |
Endorsement of Steele, J., dated March 3, 2025
| PDF · Subscribers | |
Order, dated March 3, 2025
| PDF · Subscribers | |
Revised Aide Memoire of the Receiver, dated March 2, 2025
| PDF · Subscribers | |
Endorsement of Steele, J., dated February 24, 2025
| PDF · Subscribers | |
Sales Process Order, dated February 24, 2025
| PDF · Subscribers | |
| Supplementary Affidavit of Fan Zhou, dated February 20, 2025 | PDF · Subscribers | |
Endorsement of Steele, J., dated February 18, 2025
| PDF · Subscribers | |
Order, dated February 18, 2025
| PDF · Subscribers | |
Factum of the Receiver, dated February 15, 2025
| PDF · Subscribers | |
Factum of the Respondent, dated February 14, 2025
| PDF · Subscribers | |
| Responding Record, dated February 14, 2025 | PDF · Subscribers | |
Supplement to the First Report of the Receiver, dated February 14, 2025
| PDF · Subscribers | |
Supplementary Motion Record, returnable February 18, 2025
| PDF · Subscribers | |
First Report of the Receiver, dated February 10, 2025
| PDF · Subscribers | |
Motion Record, returnable February 18, 2025
| PDF · Subscribers | |
Written reasons as a follow up to the Endorsement
| PDF · Subscribers | |
Appointment Order (entered)
| PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
| Responding Record | PDF · Subscribers | |
| Written Submissions of the Respondent | PDF · Subscribers | |
Affidavit of James Grisdale
| PDF · Subscribers | |
| Applicant's Factum | PDF · Subscribers | |
| Aide Memoire of the Applicant | PDF · Subscribers | |
Supplementary Application Record
| PDF · Subscribers | |
Application Record
| 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., “Moatfield Drive” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/moatfield-drive