TAGG Group is in court-appointed receivership in Ontario, with MNP Ltd. acting as receiver on the application of National Bank of Canada. The appointment was made under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, and the proceeding has been before the Superior Court of Justice (Commercial List) in Ontario since November 15, 2025 under court file CL-25-00753567-0000. The receivership remains active.
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The court granted an approval and vesting order for the sale to Steelcon Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate to the Purchaser, confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the Transaction to the Receiver's satisfaction. Sealed: Confidential Appendix 1 and Confidential Appendix 2 to the Second Report, sealed on an interim basis until completion of the Oakville Equipment Transaction or further order, Supplemental Confidential Appendix, sealed on an interim basis until completion of the Oakville Equipment Transaction and the Oakville Premises Transaction or further order.
The court granted an approval and vesting order for the sale to O.E. Local 793 Building Corporation. Closing terms, as extracted: Vesting of the Purchased Assets in the Purchaser takes effect upon delivery of the Receiver's Certificate to the Purchaser. Sealed: Confidential Appendices 3 and 4 to the Second Report, sealed until completion of the Oakville Premises Transaction or further order, Supplemental Confidential Appendix, sealed until completion of the Oakville Premises Transaction and the Oakville Equipment Transaction or further order.
The court granted an approval and vesting order for the sale to the Debtors' and the Receivers' right, title and interest in and to the property purchased by such respective Purchaser at the Auction. Closing terms, as extracted: Vesting occurs upon completion of the sale to a Purchaser, receipt of the purchase price by the Auctioneer, and delivery of a Bill of Sale. Sealed: Auction Services Agreement filed as Confidential Appendix '2' to the First Report.
National Bank of Canada (as successor to Canadian Western Bank) · in 97 casesOakville Mortgage over 2285 Speers Road, Oakville (principal $18,300,000, Prime + 5.0% p.a., registered ceiling not a balance) plus Rent Assignment; Kitchener Mortgage over 128 Ann Street, Kitchener (principal $1,000,000, first-ranking, granted by the Limited Guarantor); Additional Oakville Mortgage (principal $5,000,000, third-ranking); GSAs from all Borrowers and Glass Mechanics (all present and after-acquired personal property, floating charge over real property); insurance assignments; assignment and postponement agreements; s.427 Bank Act security; hypothecation of specific securities; cr · as of 17 Oct 2025
$25M
Application Record Volume 1 of 3
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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
4 transactions · 3 approved · 1 proposed — Court approved the Oakville Equipment Transaction and authorized execution of the Oakville Equipment APA; vesting effective on delivery of the Receiver's CertificateApproval and Vesting Order (Oakville Equipment) · 24 Apr 2026
Purchaser
Price
Status
Source
purchasers at the Auction, unnamed; may include the Auctioneerthe Debtors' and the Receivers' right, title and interest in and to the property purchased by such respective Purchaser at the Auction · auction
O.E. Local 793 Building Corporationthe assets described in the Oakville Premises APA (the 'Purchased Assets'), including the real property municipally known as 2285 Speers Rd., Oakville, Ontario · real property · agreement 12 Mar 2026
AdvisorsInfinity Asset Solutions Inc. (auctioneer); Remax Solid Gold Realty (II) Ltd. (listing broker)Aide Memoire of the Receiver
Closing termsVesting occurs upon delivery of the Receiver's Certificate to the Purchaser, confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the Transaction to the Receiver's satisfactionApproval and Vesting Order (Oakville Equipment)
Sealed materialsAuction Services Agreement filed as Confidential Appendix '2' to the First Report; Confidential Appendices 3 and 4 to the Second Report, sealed until completion of the Oakville Premises Transaction or further order; Supplemental Confidential Appendix, sealed until completion of the Oakville Premises Transaction and the Oakville Equipment Transaction or further order; Confidential Appendix 1 and Confidential Appendix 2 to the Second Report, sealed on an interim basis until completion of the Oakville Equipment Transaction or further order; Supplemental Confidential Appendix, sealed on an interim basis until completion of the Oakville Equipment Transaction and the Oakville Premises Transaction or further orderApproval & Vesting Order (Equipment Auction)
Documents
26 filings
Date
Document
File
Approval and Vesting Order (Oakville Equipment)
Closing termsVesting occurs upon delivery of the Receiver's Certificate to the Purchaser, confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the Transaction to the Receiver's satisfaction
Order date24 April 2026
Presiding officerJustice Steele
PurchaserSteelcon Inc. · the assets described in the Oakville Equipment APA (the 'Purchased Assets') · asset sale · approved
Approval and Vesting Order (Oakville Real Property)
Closing termsVesting of the Purchased Assets in the Purchaser takes effect upon delivery of the Receiver's Certificate to the Purchaser.
Order date24 April 2026
Presiding officerJustice Steele
PurchaserO.E. Local 793 Building Corporation · the assets described in the Oakville Premises APA (the 'Purchased Assets'), including the real property municipally known as 2285 Speers Rd., Oakville, Ontario · real property · approved
Supplement to the Second Report - Returnable April 24, 2026
PurchaserSteelcon Inc. · equipment sold in the Oakville Equipment Sale Transaction, including the 2024 PythonX Px2 480V (subject to the Receiver's election to exclude it) · asset sale · proposed
Sale outcomeApproval pending — The Python is included in the Oakville Equipment Sale Transaction, which awaits an Approval and Vesting Order; the Receiver expects to realize the Python Proceeds from that transaction.
Purchaser1001465491 Ontario Inc. (related to bidder) · the 100 ON debt and mortgage security held by NBC (sale and transfer from NBC) · asset sale · proposed
Sale advisorRemax Solid Gold Realty (II) Ltd. (listing broker)
Sale outcomeMarketed — The Receiver sought authority to list the Kitchener Property with Remax Solid Gold Realty (II) Ltd. (or alternatively to discharge 100 ON and the property); the Court granted no relief on the Kitchener Property at the Jan 8th motion, and a further motion to approve the listing may be required.
Closing termsVesting occurs upon completion of the sale to a Purchaser, receipt of the purchase price by the Auctioneer, and delivery of a Bill of Sale
Statutory basissection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 101 of the Courts of Justice Act, R.S.O. 1990, c C.43, as amended
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “TAGG Group (Receivership)” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 16 October 2026, https://proceedings.ca/case/tagg-group-rcvr
Sources last checked · summary updated 29 September 2026 · Report a correction · Printed from proceedings.ca/case/tagg-group-rcvr
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.