Onassa Corporation

Onassa Corporation has been in court-appointed receivership under section 243 of the Bankruptcy and Insolvency Act since June 9, 2026, on the application of Hillmount Capital Mortgage Holdings Inc. Hillmount advanced a $6,000,000 term mortgage loan secured by a first-ranking mortgage on the Onassa Springs Subdivision in Ottawa, 26 lots, registered for a principal amount of $6,500,000, together with a general security agreement, a general assignment of rents and leases, an assignment of roughly $434,000 in interest reserve funds, and assignments of agreements of purchase and sale and material project agreements, with PPSA registrations perfected on a search dated April 29, 2026. Indebtedness stood at $6,379,131.33 at the February 12, 2026 demand and $6,635,216.37 as of April 30, 2026. Noel Perera, a director and officer, guaranteed the debt personally. The Receiver also lists 9523-5685 Quebec Inc. at approximately $817,500, and 2250505 Ontario Inc. operating as Safe Harbour Global Capital and the Business Development Bank of Canada in amounts it states are unknown, the Debtor not having provided complete creditor information. Amounts are drawn from previously filed materials and have not been independently verified by the Receiver.