Silver Maple Developments
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-24-00094861-0000
Silver Maple Developments (9114785 Canada Inc.) was placed into receivership by order of the Ontario Superior Court of Justice on August 26, 2024, under BIA section 243 and the province's Judicature Act, file CV-24-00094861-0000. The proceeding follows default on a Frontenac Mortgage Investment Corporation loan originally documented in a March 23, 2015 commitment letter and credit agreement, comprising three facilities with limits of $7.5M, $4.0M and $1.0M. The loan matured July 15, 2019 and was not repaid, with Frontenac's claim stated at $18,901,693 as of February 19, 2024. Frontenac holds a first mortgage charge over the real property (registered principal $15,500,000), a general security agreement, and an assignment of rents and other key contracts; CEO Patrick Mullins provided a personal limited guarantee.
The officer filed report no. Third Report. The original court-approved Sales Process for the Property terminated after the winning bidder failed to satisfy its financing condition and withdrew; the Receiver is now marketing the Property to new interested parties outside the formal process while continuing to manage ongoing operations (apartment building, townhomes, common elements) and address City orders regarding the retirement home structure.
Source: Third Report of the Receiver
Motion Record of the Groves of Richmond (2025) Association — Application / notice of application
Ontario Superior Court of Justice ordered the appointment of a receiver over Silver Maple Developments, commencing the proceeding.
Source: Receivership Order
Motion Record of the Sales Officer (returnable August 26, 2024) — Application / notice of application
Debtor
Silver Maple Developments
Receiver
GlassRatner
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Labrosse | Ontario Superior Court of Justice | 7 orders, May 2024 – Jul 2025 | 2 cases on record |
| Justice Somji | Ontario Superior Court of Justice | 2 orders, Mar 2024 | 1 case on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverGlassRatner | Blaney McMurtry LLP | 17 Jan 2025 | Service list · 17 Jan 2025 |
| CreditorJoshua Sprague | Norton Rose Fulbright Canada LLP | 17 Jan 2025 | Service list · 17 Jan 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Frontenac Mortgage Investment CorporationCommercial mortgage constituting first charge over the Real Property (registered principal amount $15,500,000, not a balance); General Security Agreement; General Assignment of Rents and Leases over the Real Property; Assignment of other key contracts relating to the Property. — Frontenac Loan (per Commitment Letter/Credit Agreement dated March 23, 2015, max principal $11.5M) comprised Facility One ($7.5M facility limit - purchase/construction), Facility Two ($4.0M facility limit - purchase, with conversion rights to equity), and Facility Four ($1.0M additional construction facility limit adde · as of 19 Feb 2024 | $18.9M | Sales Officer First Report to Court |
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 closed · 1 proposed — Sale Process for three parcels comprising an apartment building, retirement residence, and development land, currently soliciting bidsTeaser · 26 Aug 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Silver Maplethe Property · real property | not statedstated amount not found on page | Closed1 Jul 2015 | Sales Officer First Report to Court |
| party who provided the April LOI through Colliers, unnamedthe Apartment Building · real property | not stated | Proposed | Sales Officer First Report to Court |
Cash on hand
$111K
As at 22 Jul 2025Third Report of the Receiver
| Date | Document | File |
|---|---|---|
Fourth Ancillary Relief Order
| ||
Third Report of the Receiver
| ||
Endorsement of Justice Labrosse
| ||
Third Ancillary Relief Order
| ||
| Supplemental Report to the Second Report of the Receiver | ||
| Motion Record of the Groves of Richmond (2025) Association | ||
| Factum of the Receiver | ||
| Motion Record of the Sales Officer | ||
| Second Report of the Receiver | ||
Service List
| ||
| Non-Disclosure Agreement | ||
Second Ancillary Relief Order
| ||
| Motion Record of the Receiver | ||
| First Report of the Receiver | ||
Ancillary Relief Order
| ||
| Motion Record of the Sales Officer (returnable August 26, 2024) | ||
Receivership Order
| ||
Teaser
| ||
Sales Officer Second Report to Court
| ||
Sales Process Order
| ||
| Motion Record (Sales Process Approval Motion) | ||
Sales Officer First Report to Court
| ||
Endorsement of Justice Somji
| ||
Sales Officer Order
| ||
Application Record
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Silver Maple Developments” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/silver-maple-developments