Proceedings.

Sussman Mortgage Funding Inc. (SMFI) et al.

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Proceeding
Receivership (court-appointed)section 37 of the Mortgage Brokerages, Lenders and Administrators Act, 2006 and section 101 of the Courts of Justice Act
Court
Ontario Superior Court of Justice
File
CV-25-00741044-00CL
Industry
Financial services · Investment funds & schemes
Filings held79
Last activity26 Oct 2026
On the record552 days
Secured debtSubscribers
OverviewSummary updated

Sussman Mortgage Funding Inc., together with 2486976 Ontario Inc. and 1981361 Ontario Inc., is in a court-appointed receivership under BIA section 243 and Ontario's Judicature Act, commenced May 2, 2025 in the Superior Court of Justice (Commercial List). As at March 31, 2025, the Receiver reported entity-level total assets of $2,187,598.82 on a net book value basis, based on information not yet reviewed or verified. Secured claims total $45,316,309.97, dominated by a $45,170,044.17 claim from Logpin Investments Limited, with smaller balances owed to Toronto Dominion Bank, VW Credit Canada, Tesla Motors Canada, Toyota Credit Canada and TD VISA. Unsecured claims include a CRA deemed-trust claim of $186,767.23, a $798,747.64 claim from related entity Mortgage Funding Building Inc., and numerous trade and individual creditors, with the overall unsecured total reported as unknown.

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Case updates80 dated entries · 1 undated
#Order

The court approved a sale and investment solicitation process. A bid deadline of 2026-12-15.

Source: Court Order

#Report

Reported receipts of $1,412,793 and disbursements of $62,484 from May 2 to September 30, 2025, leaving $1,350,310 on hand; sought power to assign the Debtors into bankruptcy and an extended Receiver's Charge.

Source: Second Report of the Receiver

#Report

Set out realization strategies across the Alliance, Ballymore, Waterways, Heritage Village, Raseta Lands, Subramaniam and Bidmead mortgage positions, with a financial review and an investor claims process still under development.

Source: Supplementary Report of the Receiver

#Order

Appointed B. Riley Farber Inc. receiver of SMFI, 2486976 Ontario Inc. and 1981361 Ontario Inc. on the FSRA Chief Executive Officer's application under MBLAA section 37 and Courts of Justice Act section 101.

Source: Receivership Appointment Order

#Order

Sussman Mortgage Funding Inc. (SMFI) et al. — Receivership filed, Ontario.

Undated filings1 — no date appears on the document · show
AnalysisAll insights⁠

Case update

Sussman Mortgage Funding: a land-lease community for sale, with no broker

Justice J. Dietrich approved a sale process on October 26 for the Uptergrove land-lease community in Ramara, held half by one of the debtors; its co-owner consented in exchange for a guarantee release. The receiver says it is examining security purportedly granted to members of an investor group, and sets out no view while talks continue.

Parties

Debtor

Sussman Mortgage Funding Inc. (SMFI) et al.

Applicant

Financial Services Regulatory Authority

Receiver

B. Riley Farber

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice DietrichOntario Superior Court of Justice23 orders, Apr 2025 – Oct 2026132 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverB. Riley FarberDentons Canada LLP1 May 2025Factum · 1 May 2025
ApplicantFinancial Services Regulatory AuthorityAird & Berlis LLP · Fogler, Rubinoff LLP · Chaitons LLP25 Apr 2025Order · 7 Jan 2026
DebtorSussman Mortgage Funding Inc. (SMFI) et al.Aird & Berlis LLP · Paul J. Daffern Law Firm
Previously Clyde & Co Canada LLP (last seen 15 May 2025)
15 May 2025Service list · 25 Jun 2026
Creditor2114568 Ontario Inc., Alliance Homes Ltd., Alex TroopDPJP Professional Corporation25 Jun 2026Service list · 25 Jun 2026
CreditorBallymore Building (Innisfil) CorporationRobins Appleby LLP25 Jun 2026Service list · 25 Jun 2026
CreditorCathy Horne and Marcus KremerGionet Fairley Wood LLP15 May 2025Application · 15 May 2025
CreditorCertain InvestorsDentons Canada LLP1 May 2025Factum · 1 May 2025
CreditorChief Executive Officer of the Financial Services Regulatory Authority of OntarioChaitons LLP25 Apr 2025Factum · 25 Apr 2025
CreditorLogpin Investments Limited, The Goldfarb Corporation, Jeffrey Goldfarb and Gary GoldfarbThornton Grout Finnigan LLP15 May 2025Affidavit · 15 May 2025
CreditorMichael SteinFriedmans Law Firm8 Jul 2025Application · 8 Jul 2025
CreditorRobert Green InvestorsRicketts, Harris LLP25 Jun 2026Service list · 25 Jun 2026
CreditorStephen Shefsky, Rita Shefsky and Samantha ShefskyAFFLECK GREENE McMURTRY LLP25 Jun 2026Service list · 25 Jun 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredLogpin Investments LimitedPage 2 states this amount as '$Unknown' (secured creditor holding or possibly holding security); List of Creditors (page 4) states an exact figure, used here. — debtor: Sussman Mortgage Funding Inc., 2486976 Ontario Inc., 1981361 Ontario Inc.$45.2MNotice and Statement of Receiver – Sussman Mortgage Funding Inc.
4Secured
4Secured
4Secured
4Secured
4Secured
8Unsecured
8Unsecured
8Unsecured
8Unsecured

41 more claims in 2 classes The stack holds Secured and Unsecured claims.

Every creditor and every amount, drawn to scale.

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Sale processAs stated in the filings

Sale process approved — The Court approved the sale and investment solicitation process (SISP) for the Uptergrove Lands and related assets; the Receiver is authorized to implement it.Court Order · 26 Oct 2026

Bid deadline

15 December 2026

Order of Justice J. Dietrich (Uptergrove Sale Process…

Fees and ratesAs stated in the filings

6 engagements · 3 firms — latest: Dentons Canada LLP, 31 Mar – 30 Sep 2025, approvedMotion Record of the Receiver – dated 2025-10-15 · 15 Oct 2025

FirmPeriodHoursFeesRatesSource
Aird & Berlis LLPCounselperiod 4 of 42 Jul – 31 Aug 2025—not statedMotion Record of Representative Counsel · 21 Oct 2025
Aird & Berlis LLPCounselperiod 3 of 417 Apr – 3 Jul 20256 peopleMotion Record of Representative Counsel · 21 Oct 2025
6 people — Aird & Berlis LLP, 17 Apr – 3 Jul 2025 · 18 blurred figures
NameTitleHoursRateFees
Steven L. Graff—
Adrienne Ho—
Matilda Lici—
Deborah Efechaobor—
Helen Kim—
Patrick L. Williams—
Aird & Berlis LLPCounselperiod 2 of 430 Mar – 16 May 20256 peopleMotion Record of Representative Counsel · 21 Oct 2025
6 people — Aird & Berlis LLP, 30 Mar – 16 May 2025 · 18 blurred figures
NameTitleHoursRateFees
Steven L. Graff—
Adrienne Ho—
Samantha Hans—
Michael Puopolo—
Patrick L. Williams—
Alex Bernicchia-Freeman—
Aird & Berlis LLPCounselperiod 1 of 4———16 peopleMotion Record of Representative Counsel · 21 Oct 2025
16 people — Aird & Berlis LLP · 48 blurred figures
NameYear of callHoursRateFees
Steven L. Graff1991
Ethan Eisen2016
Adrienne Ho2015
Matilda Lici2020
Samantha Hans2022
Cristian Delfino2023
Kieran Moloney2025
Travis Bennett—
Alex Bernicchia-Freeman—
Deborah Efechaobor—
Helen Kim—
Jordan Mamelak—
Michael Puopolo—
Linh Nguyen—
Sabine Saint-Louis—
Patrick L. Williams—
B. Riley Farber Inc.Receiver—Approved—Motion Record of the Receiver – dated 2025-10-15 · 15 Oct 2025
Dentons Canada LLPCounsel31 Mar – 30 Sep 2025Approved—not statedMotion Record of the Receiver – dated 2025-10-15 · 15 Oct 2025

95 blurred figures above

What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.

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Estate financialsReported figures — never derived
Total assets at filing

As at ·

Cumulative receipts

$1.41M

As at 30 Sep 2025Second Report of the Receiver

Cumulative disbursements

As at

Cash on hand

As at

Professional fees

As at

3 more reported figures, and the total the debtor stated at filing

Each one as the filing states it, with its source.

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Documents
79 filings
DateDocumentFile
Court Order
  • Bid deadline 15 December 2026
  • Counsel Dentons Canada LLP
  • Order date 26 October 2026
  • Outside date 29 January 2027
  • + 3 more extracted facts
PDF · Subscribers
Order of Justice J. Dietrich (Ancillary Order)
  • Counsel Dentons Canada LLP
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Order of Justice J. Dietrich (Approval of Representative Counsel Fees)
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Factum of Representative CounselPDF · Subscribers
Third Report of the Receiver
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Service List
  • Counsel Paul J. Daffern Law Firm
PDF · Subscribers
Creditor Package
PDF · Subscribers
Certificate of AppontmentPDF · Subscribers
Certificate of Filing of a Bankruptcy OrderPDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2026-01-07
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Order of Justice J. Dietrich (Bankruptcy Order)
  • Counsel Aird & Berlis LLP
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Aide Memoire of Representative Counsel – dated 2026-01-02PDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2025-11-21
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Creditors Package
PDF · Subscribers
Certificate of Appointment – dated 2025-11-14PDF · Subscribers
Certificate of AppointmentPDF · Subscribers
Amendment to Representative Counsel Order
  • Presiding officer Justice Jane Dietrich
PDF · Subscribers
Endorsement of Justice J. Dietrich (SMFI)
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Order of Justice J. Dietrich (SMFI Approvals)
  • Counsel Dentons Canada LLP
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Aide Memoire of Michael Stein – dated 2025-10-24
  • Counsel Friedmans LLP
PDF · Subscribers
Factum of the Receiver
  • Counsel Dentons Canada LLP
PDF · Subscribers
Supplemental Report to the Second Report of the Receiver
PDF · Subscribers
Motion Record of Alliance Homes Inc. et al.PDF · Subscribers
Motion Record of Representative Counsel
PDF · Subscribers
Motion Record of the Receiver – dated 2025-10-15
PDF · Subscribers
Second Report of the Receiver
  • Operational summary The Receiver continues to reconcile and realize on mortgage assets across several projects (Alliance, Ballymore, Waterways, Heritage Village, Raseta Lands, Subramaniam, Bidmead), pursuing financing, sale, and receivership strategies while conducting a financial review and developing a claims process for investors.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Aide Memoire of the Goldfarb Group
  • Counsel Thornton Grout Finnigan LLP
PDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2025-10-03
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Aide Memoire of the ReceiverPDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2025-09-10
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Order of Justice J. Dietrich
  • Counsel Friedmans LLP
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Aide Memoire of Representative Counsel – dated 2025-09-08PDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2025-08-15
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Aide Memoire of Representative Counsel – dated 2025-08-14PDF · Subscribers
Aide Memoire of Michael Stein
  • Counsel Friedmans LLP
PDF · Subscribers
Third Supplemental report to the First Report of the Receiver
  • Cash on hand · Disbursements · Financial position · Operational summary Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Amended and Restated Receivership Order of Justice J. Dietrich
  • Applicant CHIEF EXECUTIVE OFFICER OF THE FINANCIAL SERVICES REGULATORY AUTHORITY OF ONTARIO
  • Appointee B. Riley Farber Inc.
  • Appointee role receiver
  • Counsel Dentons Canada LLP
  • + 5 more extracted facts
PDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2025-07-25
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Aide Memoire of BallymorePDF · Subscribers
Aide Memoire of Representative CounselPDF · Subscribers
Second Supplemental Report to the First Report of the Receiver
  • Operational summary The Receiver is pursuing a proposed course of action to realize on active mortgages, explore other recovery avenues, complete a preliminary investigation and prepare a claims process, and seeks to increase the Receiver's Charge. It does not oppose Teichman and Stein enforcing remedies on the S-27 Mortgage but cannot support carving out the S-26 Mortgage.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Factum of Mr. Stein
  • Counsel Friedmans LLP
PDF · Subscribers
Motion Record of M. Stein
  • Counsel Friedmans LLP
PDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2025-06-26
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Motion Record of the ReceiverPDF · Subscribers
Aide Memoire of Alliance HomesPDF · Subscribers
Supplementary Report of the Receiver
  • Cash on hand · Disbursements · Financial position · Operational summary Subscribers
  • + 4 more extracted facts
PDF · Subscribers
First Report of the ReceiverPDF · Subscribers
Endorsement re Representative Counsel OrderPDF · Subscribers
Notice to Investors on Representative Counsel MotionPDF · Subscribers
Representative Counsel Order of Justice J. Dietrich
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Affidavit of Beatrice LoschiavoPDF · Subscribers
Factum of the Goldfarb Investors
  • Counsel Thornton Grout Finnigan LLP
PDF · Subscribers
Memorandum of Law and Argument of the Proposed Representative Counsel, Paliare Roland Rosenberg Rothstein LLPPDF · Subscribers
Supplemental Affidavit of Dannallyn Salita
  • Counsel Thornton Grout Finnigan LLP
PDF · Subscribers
Supplementary Factum of the Proposed Representative CounselPDF · Subscribers
Supplementary Motion Record of the Proposed Representative Counsel
  • Counsel Gionet Fairley Wood LLP
PDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2025-05-13
  • Counsel How: operator-correction · Why: a capacity line; stored client is the lawyer · Corrects: pairing · Rejected: Firm: Proposed Representative Counsel, Paliare Roland LLP · Client: Evan Snyder · Firm hint: Paliare Roland LLP
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Notice and Statement of Receiver – 1981361 Ontario Inc.PDF · Subscribers
Notice and Statement of Receiver – 2486976 Ontario Inc.PDF · Subscribers
Notice and Statement of Receiver – Sussman Mortgage Funding Inc.
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Responding Motion Record of the Goldfarb InvestorsPDF · Subscribers
Motion Record of Palaire Roland Rosenberg Rothstein LLPPDF · Subscribers
Aide Memoire of the Plaintiffs – dated 2025-05-02
  • Counsel Fogler, Rubinoff LLP
PDF · Subscribers
Endorsement of Justice J. Dietrich – dated 2025-05-02
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Mareva Order
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Receivership Appointment Order
  • Applicant CHIEF EXECUTIVE OFFICER OF THE FINANCIAL SERVICES REGULATORY AUTHORITY OF ONTARIO
  • Appointee B. Riley Farber Inc.
  • Appointee role Receiver
  • Commencement date 2 May 2025
  • + 4 more extracted facts
PDF · Subscribers
Aide Memoire of the Applicant
  • Counsel Chaitons LLP
PDF · Subscribers
Factum of the Proposed Representative InvestorsPDF · Subscribers
Supplementary Affidavit of Harley ZaretskyPDF · Subscribers
Motion Record of Aird & BerlisPDF · Subscribers
Affidavit of Amy Casella
  • Counsel Chaitons LLP
PDF · Subscribers
Factum of the Applicant
  • Counsel Chaitons LLP
PDF · Subscribers
Responding Application RecordPDF · Subscribers
Aide Memoire of the PlaintiffsPDF · Subscribers
Endorsement of Justice J. Dietrich
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Application Record
  • Court SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
PDF · Subscribers
Notice of MotionPDF · Subscribers
Teaser
  • Sale outcome Sale process approved — Receiver is soliciting offers for the acquisition of, or investment in, the Lakepoint Village land lease community under a court-approved sale and investment solicitation process; no bid selected.
  • Break fee · Stalking horse Subscribers
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., “Sussman Mortgage Funding Inc. (SMFI) et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/sussman-mortgage-funding-inc-smfi-et-al

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Sources last checked · summary updated 13 August 2026 · Report a correction · Printed from proceedings.ca/case/sussman-mortgage-funding-inc-smfi-et-al

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.