Tankhouse Development Inc. has been in court-appointed receivership since August 24, 2022, with MNP Ltd. as receiver, on the application of the Business Development Bank of Canada in the Ontario Superior Court of Justice, file CV-22-00089649-0000. The proceeding remains active. BDC's claim stands at $1,566,470.00, secured by a General Security Agreement dated December 16, 2016, mortgages registered on title to the land and building dated January 10, 2017, and personal guarantees from shareholders. Other secured claims include FCC / FAC Farm Credit at $279,467.00, Trenval Business Development Corporation at $183,354.00 and the City of Belleville at $56,249.00. The receiver's Form 87 statement values the Corbyville land at 86 River Road at $2,740,000.00 and various equipment at $200,000.00. The largest unsecured claims are Sean Hibbert at $460,000.00, Gary York at $266,851.00, CRA tax at $257,625.00 and Niloc Enterprises Inc at $250,000.00.
The court granted an approval and vesting order for the sale to the Debtors' right, title and interest in and to the assets described in the Sales Agreement (the "Purchased Assets"). Closing terms, as extracted: Vesting effective upon delivery of the Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions.
Source: Approval and Vesting Order
MNP Ltd. appointed receiver over Tankhouse Development Inc. on BDC's application under section 243(1) of the BIA and section 101 of the Courts of Justice Act.
Source: Court Order of the Receivership
Debtor
Tankhouse Development Inc.
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Emery | Ontario Superior Court of Justice | 2 orders, Aug 2022 – Nov 2023 | 8 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Soloway Wright LLP | 2 Nov 2023 | Order · 2 Nov 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Business Development Bank of Canada - Mississauga · in 6 casesas of receiver's statement date — General Security Agreement dated December 16, 2016; registered mortgages on title of land and building dated January 10, 2017; various personal guarantees from shareholders — Receiver appointed pursuant to BDC's security — debtor: Tankhouse Development Inc. | $1.57M | Notice of Statement of Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
47 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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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.
Sale approvedApproval and Vesting Order · 2 Nov 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| unnamedthe Debtors' right, title and interest in and to the assets described in the Sales Agreement (the "Purchased Assets") · real property · agreement 2 Aug 2023 | not stated | Approved2 Nov 2023 | Approval and Vesting Order |
| Date | Document | File |
|---|---|---|
Approval and Vesting Order
| PDF · Subscribers | |
Motion Record of the Court-Appointed Receiver
| PDF · Subscribers | |
Notice of Statement of Receiver
| PDF · Subscribers | |
Court Order of the Receivership
| PDF · Subscribers | |
Notice of Application
| 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., “Tankhouse Development Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/tankhouse-development-inc
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/tankhouse-development-inc
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.