Proceedings.

Silver Maple Developments

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Proceeding
Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
Court
Ontario Superior Court of Justice
File
CV-24-00094861-0000
Industry
Real estate · Residential development
Filings held25
Last activity30 Jul 2025
On the record801 days
Secured debtSubscribers
OverviewSummary updated

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.

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Case updates25 dated entries
#Report

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

#Report

The officer filed report no. Supplemental Report to the Second Report of the Receiver. The report responds to the Berghout Affidavit, setting out the Receiver's frequent communications with the life lease Townhome Residents about the Proceedings, the Common Elements Condominium application and the path forward for the Townhome Residents. It states no financial results for the estate.

Source: Supplemental Report to the Second Report of the Receiver

#Report

The officer filed report no. Second Report of the Receiver. The Receiver is running the Sales Process for the multi-parcel Richmond, Ontario property, with Phase I bids due March 5, 2025. Property operations continue through a property manager, with the Receiver reviewing and executing disbursements for ongoing operations. The Receiver is also seeking Title Relief to vest life lease claims off title.

Source: Second Report of the Receiver

#Report

The officer filed report no. First Report of the Receiver. The Receiver is operating the Apartment Building and managing the Property while advancing the common elements condominium registration, and is preparing to commence the Sales Process. The Property does not generate enough cash to fund operating costs for the entire development plus receivership costs, so the Receiver is funding the shortfall through borrowings from the Applicant by way of Receiver's Certificates.

Source: First Report of the Receiver

#Order

Ontario Superior Court of Justice ordered the appointment of a receiver over Silver Maple Developments, commencing the proceeding.

Source: Receivership Order

#Report

The officer filed report no. Second Report. The company's sole asset is a multiphase seniors housing development in Richmond, Ontario. The occupied apartment building and townhomes continue to operate under Sleepwell as property manager, while the retirement home and vacant land remain undeveloped. The Sales Officer is working through engineering certification (Capacity Engineering replaced EXP) to register the common elements condominium before launching the court-approved sales process, and seeks to expand its role to full receiver and manager.

Source: Sales Officer Second Report to Court

Parties

Debtor

Silver Maple Developments

Receiver

B. Riley Farber

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice LabrosseOntario Superior Court of Justice7 orders, May 2024 – Jul 20252 cases on record
Justice SomjiOntario Superior Court of Justice2 orders, Mar 20241 case on record

Counsel of record

PartyCounselFirst seenSource
ReceiverB. Riley FarberBlaney McMurtry LLP17 Jan 2025Service list · 17 Jan 2025
CreditorJoshua SpragueNorton Rose Fulbright Canada LLP17 Jan 2025Service list · 17 Jan 2025
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredFrontenac 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$18.9MSales 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.

Sale processAs stated in the filings

2 transactions · 1 closed · 1 proposed — The Court granted an order approving a sale process to solicit interest in the sale of all or part of the Company's property; the Receiver is carrying out the Sale Process and this NDA is provided to interested parties.Non-Disclosure Agreement · 13 Dec 2024

Bid deadline

4 March 2025

Teaser

Stalking horse

None

Sales Process Order

PurchaserPriceStatusSource
Silver Maplethe Property · real propertySubscribersClosed1 Jul 2015Sales Officer First Report to Court
party who provided the April LOI through Colliers, unnamedthe Apartment Building · real propertynot statedProposedSales Officer First Report to Court
AdvisorsB. Riley Farber Inc. (sale agent); Colliers (listing broker)Sales Officer Second Report to Court
Estate financialsReported figures — never derived

Cash on hand

$111K

As at 11 Jul 2025Third Report of the Receiver

Documents
25 filings
DateDocumentFile
Fourth Ancillary Relief Order
  • Presiding officer Justice Labrosse
PDF · Subscribers
Third Report of the Receiver
  • Operational summary 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.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Endorsement of Justice Labrosse
  • Presiding officer Justice Labrosse
PDF · Subscribers
Third Ancillary Relief Order
  • Presiding officer Justice Labrosse
PDF · Subscribers
Supplemental Report to the Second Report of the Receiver
  • Operational summary The report responds to the Berghout Affidavit, setting out the Receiver's frequent communications with the life lease Townhome Residents about the Proceedings, the Common Elements Condominium application and the path forward for the Townhome Residents. It states no financial results for the estate.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Motion Record of the Groves of Richmond (2025) AssociationPDF · Subscribers
Factum of the ReceiverPDF · Subscribers
Motion Record of the Sales OfficerPDF · Subscribers
Second Report of the Receiver
  • Operational summary The Receiver is running the Sales Process for the multi-parcel Richmond, Ontario property, with Phase I bids due March 5, 2025. Property operations continue through a property manager, with the Receiver reviewing and executing disbursements for ongoing operations. The Receiver is also seeking Title Relief to vest life lease claims off title.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Service List
  • Counsel Blaney McMurtry LLP
PDF · Subscribers
Non-Disclosure Agreement
  • Sale outcome Sale process approved — The Court granted an order approving a sale process to solicit interest in the sale of all or part of the Company's property; the Receiver is carrying out the Sale Process and this NDA is provided to interested parties.
  • Break fee · Stalking horse Subscribers
PDF · Subscribers
Second Ancillary Relief Order
  • Presiding officer Justice Labrosse
PDF · Subscribers
Motion Record of the ReceiverPDF · Subscribers
First Report of the Receiver
  • Operational summary The Receiver is operating the Apartment Building and managing the Property while advancing the common elements condominium registration, and is preparing to commence the Sales Process. The Property does not generate enough cash to fund operating costs for the entire development plus receivership costs, so the Receiver is funding the shortfall through borrowings from the Applicant by way of Receiver's Certificates.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Ancillary Relief Order
  • Presiding officer Justice Labrosse
PDF · Subscribers
Receivership Order
  • Applicant FRONTENAC MORTGAGE INVESTMENT CORPORATION
  • Appointee B Riley Farber Inc.
  • Appointee role receiver and manager
  • Commencement date 26 August 2024
  • + 5 more extracted facts
PDF · Subscribers
Teaser
  • Bid deadline 4 March 2025
  • Sale advisor B. Riley Farber Inc. (sale agent)
  • Sale outcome Marketed — Sale Process for three parcels comprising an apartment building, retirement residence, and development land, currently soliciting bids
PDF · Subscribers
Motion Record of the Sales Officer (returnable August 26, 2024)PDF · Subscribers
Sales Officer Second Report to Court
  • Operational summary The company's sole asset is a multiphase seniors housing development in Richmond, Ontario. The occupied apartment building and townhomes continue to operate under Sleepwell as property manager, while the retirement home and vacant land remain undeveloped. The Sales Officer is working through engineering certification (Capacity Engineering replaced EXP) to register the common elements condominium before launching the court-approved sales process, and seeks to expand its role to full receiver and manager.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
Sales Process Order
  • Order date 24 May 2024
  • Presiding officer Justice Labrosse
  • Sale advisor B. Riley Farber Inc. (sale agent)
  • Break fee Subscribers
  • + 2 more extracted facts
PDF · Subscribers
Motion Record (Sales Process Approval Motion)PDF · Subscribers
Sales Officer First Report to Court
  • Closing confirmed Closed · 1 Jul 2015 · Silver Maple
  • Purchaser Silver Maple · the Property · real property · closed; party who provided the April LOI through Colliers, unnamed · the Apartment Building · real property · proposed
  • Sale advisor Colliers Macaulay Nicolls Inc. (listing broker)
  • Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Endorsement of Justice Somji
  • Presiding officer Justice Somji
PDF · Subscribers
Sales Officer Order
  • Order date 19 March 2024
  • Presiding officer Justice N. Somji
  • Sale advisor B. Riley Farber Inc. (sale agent)
  • Stalking horse Subscribers
PDF · Subscribers
Application Record
  • Applicant FRONTENAC MORTGAGE INVESTMENT CORPORATION
  • Commencement date 23 February 2024
  • Court SUPERIOR COURT OF JUSTICE
  • Court file no CV-24-00094861-0000
  • + 2 more extracted facts
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., “Silver Maple Developments” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/silver-maple-developments

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Sources last checked · summary updated 13 August 2026 · Report a correction · Printed from proceedings.ca/case/silver-maple-developments

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.