#Order
Appointed Grant Thornton Limited receiver and manager of Sher Markham and Sher Holdings on Meridian's application under section 243(1) of the BIA and section 101 of the CJA.
Sher Markham and Sher Holdings Inc
FollowActive
- Proceeding
- Receivership (court-appointed)section 243(1) of the BIA and section 101 of the CJA
- File
- CL-26-00000411-0000
- Industry
- Real estate · Residential development
OverviewSummary updated
Sher Markham Inc. and Sher Holdings Inc. were placed under the court-appointed receivership and management of Grant Thornton Limited on October 14, 2026, on the application of Meridian Credit Union Limited to the Ontario Superior Court of Justice under section 243(1) of the BIA and section 101 of the CJA, court file CL-26-00000411-0000. Meridian puts aggregate indebtedness at $57,731,133.87 as of September 15, 2026, excluding professional fees, disbursements and accruing interest, and claims a first-ranking perfected PPSA position secured by a collateral charge registered September 12, 2022 against 9704 McCowan Road, Markham, general security agreements, a share pledge and guarantees from Sher Holdings and Shakeel Walji. Westmount Guarantee Services Inc. and second mortgagee Genesis Mortgage Investment Corp. have postponed to Meridian. Twenty-one construction liens registered against the Markham lands totalled $11,422,954.19 at October 7, 2026. The proceeding is active.
Proceedings AIAsk this case — answers cite the filings
Case updates6 dated entries
Parties
Debtor
Sher Markham and Sher Holdings Inc
Receiver
Doane Grant Thornton
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dunphy | Ontario Superior Court of Justice | 2 orders, Oct 2026 | 86 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorSher Markham and Sher Holdings Inc | Cassels Brock & Blackwell LLP | 13 Oct 2026 | Affidavit · 13 Oct 2026 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Meridian Credit Union Limited (first-ranking; applicant) · in 20 casesCollateral charge/mortgage registered Sept 12, 2022 as YR3475801 against 9704 McCowan Road, Markham (principal amount $67,000,000 -- registered charge amount, not a balance); assignment of rents YR3475802; GSAs from Sher Markham and Sher Holdings (PPSA registrations over all present and after-acquired personal property); assignments of material contracts, APS and construction management contract; share pledge; guarantees from Sher Holdings and Shakeel Walji; letters of credit indemnities; environmental indemnity; negative pledge; deposit security — Aggregate outstanding indebtedness stated as · as of 15 Sep 2026 | $57.7M | Application Record dated October 7, 2026.pdf |
| Secured | |||
| Secured | |||
| Secured |
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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.
Documents6 filings
| Date | Document | File |
|---|---|---|
Endorsement of Justice Dunphy dated October 14, 2026.pdf
| PDF · Subscribers | |
Receivership Order dated October 14, 2026.pdf
| PDF · Subscribers | |
Affidavit of Shakeel Walji sworn October 13, 2026.pdf
| PDF · Subscribers | |
| Reply Affidavit of Amber Waheed affirmed October 13, 2026.pdf | PDF · Subscribers | |
| Factum of the Applicant dated October 8, 2026.pdf | PDF · Subscribers | |
Application Record dated October 7, 2026.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., “Sher Markham and Sher Holdings Inc” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 16 October 2026, https://proceedings.ca/case/sher-markham-and-sher-holdings-inc