Riadh Holdings Inc is the subject of a court-appointed receivership in which MNP Ltd. became interim receiver on October 14, 2014, appointed by the Ontario Superior Court of Justice (Commercial List) on the application of Dast Properties Limited under section 47(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, court file CV-14-10701-00CL. The appointment is over the property municipally known as 1 Arrow Road, Toronto, a 50,974 square foot industrial building, rather than over a named corporate debtor, and MNP's plan is to realize on that property. The receiver's notice and statement of October 23, 2014 lists as secured creditors on the property Dast Properties Limited at $3,700,000, Verza Investments Inc. at $1,500,000, the City of Toronto at $326,217 as a municipal claim, and First Capital Corp. at $89,000, each amount to be confirmed. The proceeding remains active.
The court granted an approval and vesting order. 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.
The court granted an approval and vesting order for the sale to 1 Arrow Road Inc. Closing terms, as extracted: vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price, satisfaction of closing conditions, and completion of the Transaction.
The officer filed report no. First Report. The Receiver has been managing and marketing the Property for sale since its appointment, collecting rent from the tenant, negotiating a lease termination, and has now entered into an APS with Verza for the sale of the Property, with closing expected shortly and proceeds to be distributed primarily to the first secured creditor, Dast.
Notice of and Statement of the Receiver, October 23, 2014 — Notice of receiver (s. 245 / Form 87)
Ontario Superior Court of Justice appointed MNP Ltd. interim receiver of 1 Arrow Road, Toronto, a 50,974 sq ft industrial building, with realization on the Property as the plan.
Source: Receivership Order
Debtor
Riadh Holdings Inc
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Penny | Ontario Superior Court of Justice | 1 order, Oct 2014 | 196 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Chaitons LLP | 17 Aug 2015 | Order · 17 Aug 2015 |
| Applicant | Chaitons LLP | 14 Oct 2014 | Order · 14 Oct 2014 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Dast Properties LimitedHolds security on the Property (List “A”). — Amount “to be confirmed” per the notice. — debtor: 1 Arrow Road, Toronto, Ontario (the “Property”) | $3.7M | Notice of and Statement of the Receiver, October 23, 2014 |
| Secured | |||
| Secured | |||
| Secured |
3 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
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.
2 transactions · 1 approved · 1 not completed — Receiver seeks approval of amended sale agreement after original closing failed to occur on September 8, 2015Second Report of the Receiver, September 15, 2015 · 15 Sep 2015
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1 Arrow Road Inc.the assets described in the Sale Agreement (the "Purchased Assets") · real property · agreement 4 May 2015 | not stated | Approved17 Aug 2015 | Approval and Vesting Order, August 17, 2015 |
| Verza Investments Inc.the Property, the building and fixtures thereon (collectively, the "Purchased Assets") · real property | Subscribers | Not completed8 Sep 2015 | Second Report of the Receiver, September 15,… |
Unsecured creditors: no distribution.EstimatedFirst Report of Receiver, August, 6, 2015 · 6 Aug 2015
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | creditors subordinate to Dast | — | no distribution | Estimatedper the receiver | First Report of Receiver, August, 6, 2015 · 6 Aug 2015 |
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.
Cumulative receipts
$153K
As at 6 Aug 2015First Report of Receiver, August, 6, 2015
| Date | Document | File |
|---|---|---|
Approval and Vesting Order dated September 18, 2015
| PDF · Subscribers | |
Distribution Order dated September 18, 2015
| PDF · Subscribers | |
| Motion Record, returnable September 18, 2015 | PDF · Subscribers | |
Second Report of the Receiver, September 15, 2015
| PDF · Subscribers | |
Approval and Vesting Order, August 17, 2015
| PDF · Subscribers | |
| Endorsement August 17, 2015 | PDF · Subscribers | |
Motion Record, August 10, 2015
| PDF · Subscribers | |
First Report of Receiver, August, 6, 2015
| PDF · Subscribers | |
Notice of and Statement of the Receiver, October 23, 2014
| 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., “Riadh Holdings Inc” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/riadh-holdings-inc
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/riadh-holdings-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.