R-Chad Investment Inc., owner of the property at 675-705 Remembrance Road in Brampton operating as an Esso site, was placed in court-appointed receivership on September 4, 2025 in the Ontario Superior Court of Justice under BIA s. 243, court file CV-25-00091460-0000. National Bank of Canada, which amalgamated with Canadian Western Bank on March 1, 2025, holds a first-ranking mortgage and assignment of rents on the real property and a first-ranking PPSA security interest in all of the respondent's personal property, assets and undertaking. An affidavit of Raymond Pai sworn August 11, 2025 puts the National Bank loan balance at $8,138,715.62 as at July 14, 2025, plus other charges and accruing interest. The receiver has made an interim distribution of $100,000 to the bank on account of that debt, on the assumption the security is valid and enforceable and against a confirmation that the funds will be returned if the security is later found invalid, unenforceable or subordinate. The receivership remains active.
The court granted an approval and vesting order for the sale to Remembrance Retail Inc. Closing terms, as extracted: Vesting effective upon delivery of the Receiver's Certificate to the Purchaser confirming payment of the Purchase Price and satisfaction of closing conditions. Sealed: confidential appendices of the Second Report.
Receiver's Sale Approval Motion- Returnable July 14, 2026 — Application / notice of application
The court approved a sale and investment solicitation process.
Source: Approval of Sales Process Order
Supplemental Motion Record - Returnable January 29,2026 — Application / notice of application
Commenced the receivership of R-Chad Investment Inc. under BIA s. 243 in the Ontario Superior Court of Justice, court file CV-25-00091460-0000.
Source: Receivership Order
Outcome brief
R-Chad: a shareholder's stalking horse, outbid on Remembrance Road
One of R-Chad Investment's two litigating shareholders set the stalking-horse floor for its Brampton Esso site; OWO Management won the April 22 auction. On July 14, 2026, Justice Bordin approved the sale at a sealed price, authorized a distribution to National Bank, and said the investigation the other shareholder wanted needs a proper motion.
Debtor
R-Chad Investment Inc. Esso Brampton
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Bordin | Ontario Superior Court of Justice | 2 orders, Jul 2026 | 8 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Lerners LLP | 9 Dec 2025 | Factum · 27 Nov 2025 |
| Applicant | Dickinson Wright LLP | 4 Sep 2025 | Order · 4 Sep 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | National Bank of Canada, as successor and continuation of Canadian Western BankGeneral Security Agreement dated April 14, 2023; Charge/Mortgage dated April 18, 2023 over the Real Property (675-705 Remembrance Road, Brampton, ON, PIN 14251-2999); Assignment of Rents dated April 14, 2023 — Pre-filing secured indebtedness ('Secured Indebtedness') as stated in the Receiver's First Report, as at July 17, 2025, prior to the September 4, 2025 receivership appointment; described as senior/first-ranking secured creditor whose security was confirmed valid and enforceable per Lerners' legal opinion dated January 7, 2026. A post-filing balance of $8,217,827.13 as at June 22, 2026 (a · as of 17 Jul 2025 | $8.14M | Receiver's Sale Approval Motion- Returnable July 14, 2026 |
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.
2 transactions · 1 proposed · 1 approved — Transaction approved and vesting order grantedA - Approval and Vesting Order dated · 14 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Noreen AsgharStalking horsethe assets contemplated in the Stalking Horse Sale Agreement · asset sale · nominee/assignee: a corporation to be incorporated · agreement 22 Jan 2026 | Subscribers | Proposed | Approval of Sales Process Order |
| Remembrance Retail Inc.the Debtor's right, title and interest in and to the assets described in the Purchase Agreement (the "Purchased Assets") · asset sale · agreement 30 Mar 2026 | not stated | Approved14 Jul 2026 | A - Approval and Vesting Order dated |
National Bank of Canada: a distribution.FinalSupplemental Motion Record · 23 Jan 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | National Bank of Canada | estimated | interimcumulativeconditional | Finalper the receiver | Supplemental Motion Record · 23 Jan 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 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans3 engagements · 3 firms — latest: Lerners LLP, to 15 Jan 2026Supplemental Motion Record · 23 Jan 2026
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dickinson Wright LLPCounsel to the receiver | 9 Sep – 31 Oct 2025 | 2 people | Motion Record · 26 Nov 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 people — Dickinson Wright LLP, 9 Sep – 31 Oct 2025 · 4 blurred figures
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lerners LLPCounsel | to 15 Jan 2026 | — | — | not stated | Supplemental Motion Record · 23 Jan 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MNP Ltd.Receiver | 19 Jun – 15 Oct 2025 | 10 people | Motion Record · 26 Nov 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 people — MNP Ltd., 19 Jun – 15 Oct 2025 · 32 blurred figures
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
42 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
A - Approval and Vesting Order dated
| PDF · Subscribers | |
B - Distribution Order
| PDF · Subscribers | |
Endorsement of Justice Bordin Re: Receiver’s Sale Approval Motion
| PDF · Subscribers | |
Receiver's Sale Approval Motion- Returnable July 14, 2026
| PDF · Subscribers | |
Sales Brochure
| PDF · Subscribers | |
| Notice to Prospective Purchasers | PDF · Subscribers | |
| Stalking Horse Approval Endorsement dated | PDF · Subscribers | |
Approval of Sales Process Order
| PDF · Subscribers | |
Supplemental Factum of the Receiver - Returnable January 29, 2026
| PDF · Subscribers | |
Supplemental Motion Record - Returnable January 29,2026
| PDF · Subscribers | |
Factum of the Receiver - Returnable on December 9, 2025
| PDF · Subscribers | |
Motion Record - Returnable on December 9, 2025
| PDF · Subscribers | |
Receivership Order
| 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., “R-Chad Investment Inc. Esso Brampton” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/rchad-investment-inc
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/rchad-investment-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.