Nascent (Tisdale) Inc.
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 101 of the Courts of Justice Act
- File
- CV-21-00657701-00CL
- Industry
- Real estate · Residential development
Nascent (Tisdale) Inc., together with Nascent (Tisdale) LP, is in court-appointed receivership in Ontario, commenced March 31, 2021 under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. Fiera FP Real Estate Financing Fund, L.P. — the applicant and senior secured creditor under loan documents and security over the property at 78 Tisdale Avenue, Toronto — obtained the appointment of Grant Thornton Limited as receiver and manager. The receiver disclaimed the Sage Development Corporation agreement on May 19, 2021, on the same terms as the pre-construction agreements held by 19 purchasers, whose deposits it believes were fully expended before its appointment. A $250,000 deposit had been paid toward a $4,400,000 purchase price for Blocks 5 and 6 under the Sage agreement. Aviva Insurance Company of Canada holds a deposit surety bond, and the City of Toronto is owed unpaid property taxes.
Motion Record of the Receiver (returnable August 12, 2024).pdf — Application / notice of application
The officer filed report no. Fourth Report. The Receiver terminated the Sale Agreement/Amended APS with DIG after failing to agree on further extensions, and is now awaiting an Ontario Land Tribunal decision on increased density for the Property before re-engaging a broker and re-marketing it for sale.
Source: Nascent - Fourth Report of the Receiver - August 2, 2024.pdf
The court granted an approval and vesting order for the sale to DIG Developments Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction. Sealed: summary of offers submitted to the Receiver as part of the Court-approved sale process and the unredacted Sale Agreement.
Source: Fiera Signed Approval and Vesting Order dated March 17, 2022.pdf
The officer filed report no. Third Report. The Receiver, having run a marketing and sale process for the development property, negotiated a Sale Agreement with DIG Developments Inc. and is seeking court approval to complete the sale, after which it intends to seek distribution and discharge orders.
Source: Nascent - Third Report of the Receiver - March 9, 2022.pdf
Motion Record of the Receiver (returnable March 9, 2022).PDF — Application / notice of application
Supplemental Report to the Second Report of the Receiver dated November 16, 2021.PDF — Court officer report
Motion Record of the Receiver (returnable November 17, 2021).PDF — Application / notice of application
Supplemental Report to the First Report of the Receiver - June 9, 2021.PDF — Court officer report
Motion Record of the Receiver (returnable June 1, 2021).PDF — Application / notice of application
The court appointed Grant Thornton Limited as receiver and manager of Nascent (Tisdale) Inc. and Nascent (Tisdale) LP on March 31, 2021.
Case update
78 Tisdale: the deposits go to Aviva, the land back to market
Five years into Grant Thornton's receivership of Nascent (Tisdale) Inc. and Nascent (Tisdale) LP, Justice Cavanagh on August 31, 2026 directed $289,800.92 in pre-construction deposits to the deposit surety, Aviva, and approved a Colliers listing that expired without an acceptable offer, as the receiver prepares a renewed sale of a site the Ontario Land Tribunal has approved in principle for 52 townhouses.
Debtor
Nascent (Tisdale) Inc.
Receiver
Doane Grant Thornton
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Unpaid suppliers/contractors with registered liensRegistered liens against the Property — Aggregate/individual amounts not stated; blanket lien claimants — debtor: Nascent (Tisdale) Inc. and Nascent (Tisdale) LP | — | Receiver's First Report - March 31, 2021.pdf |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
5 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount.
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See all plans“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.
Sale terminated — terminated the Sale Agreement/Amended APS with DIG; Receiver intends to re-commence sales efforts once a final decision from the OLT has been renderedNascent - Fourth Report of the Receiver - August 2, 2024.pdf · 2 Aug 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| DIG Developments Inc.the Purchased Assets (as defined in the Sale Agreement), including without limitation the subject real property identified in Schedule "B" · real property · agreement 15 Feb 2022 | Subscribers | Terminated17 Mar 2022 | Fiera Signed Approval and Vesting Order dated… |
1 engagement · 1 firm — Grant Thornton Limited, 1 Aug – 28 Oct 2021Second Report of the Receiver - November 8, 2021.pdf · 8 Nov 2021
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Grant Thornton LimitedReceiver | 1 Aug – 28 Oct 2021 | — | — | Second Report of the Receiver - November 8, 2021.pdf · 8 Nov 2021 |
1 blurred figure above
What the firm billed — each as the filing states it, with its source.
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See all plansCash on hand
$13.5K
As at 30 Jun 2024Nascent - Fourth Report of the Receiver - August 2, 2024.pdf
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 |
|---|---|---|
Endorsement of Justice Cavanagh dated Aug 31, 2026.pdf
| PDF · Subscribers | |
Order dated Aug 31, 2026.pdf
| PDF · Subscribers | |
| Service List as of August 13, 2026.docx | PDF · Subscribers | |
| Motion Record of the Receiver dated July 17, 2026.pdf | PDF · Subscribers | |
Endorsement of Justice Conway dated August 12, 2024.pdf
| PDF · Subscribers | |
| Motion Record of the Receiver (returnable August 12, 2024).pdf | PDF · Subscribers | |
Order of Justice Conway dated August 12, 2024.pdf
| PDF · Subscribers | |
| Factum of the Receiver dated August 11, 2024.pdf | PDF · Subscribers | |
Nascent - Fourth Report of the Receiver - August 2, 2024.pdf
| PDF · Subscribers | |
Fiera Signed Ancillary Relief Order dated March 17, 2022.pdf
| PDF · Subscribers | |
Fiera Signed Approval and Vesting Order dated March 17, 2022.pdf
| PDF · Subscribers | |
Toronto Shoring Signed Order dated March 17, 2022.pdf
| PDF · Subscribers | |
| Motion Record of the Receiver (returnable March 9, 2022).PDF | PDF · Subscribers | |
Nascent - Third Report of the Receiver - March 9, 2022.pdf
| PDF · Subscribers | |
Court Order (Post-Hearing Amendments) dated November 23, 2021.pdf
| PDF · Subscribers | |
| Supplemental Report to the Second Report of the Receiver dated November 16, 2021.PDF | PDF · Subscribers | |
| Motion Record of the Receiver (returnable November 17, 2021).PDF | PDF · Subscribers | |
Second Report of the Receiver - November 8, 2021.pdf
| PDF · Subscribers | |
| Information Memorandum - June 10, 2021.pdf | PDF · Subscribers | |
| Supplemental Report to the First Report of the Receiver - June 9, 2021.PDF | PDF · Subscribers | |
Motion Record of the Receiver (returnable June 1, 2021).PDF
| PDF · Subscribers | |
| Receivership Certificate.pdf | PDF · Subscribers | |
Consent Order - March 31, 2021.pdf
| PDF · Subscribers | |
| Endorsement - March 31, 2021.pdf | PDF · Subscribers | |
Receiver's First Report - March 31, 2021.pdf
| PDF · Subscribers | |
Receivership Order - March 31, 2021.pdf
| 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., “Nascent (Tisdale) Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/nascent-tisdale-inc