Ten 4 System Ltd. et al. have been in court-appointed receivership in Ontario since October 18, 2023, when the Ontario Superior Court of Justice (Commercial List) granted a receivership order under section 243 of the Bankruptcy and Insolvency Act together with provincial Judicature Act authority. The matter proceeds under Court File No. CV-23-00705869-00CL and remains active. Beyond the appointment itself, the record of this proceeding carries no further dated milestones, so nothing further about the administration of the estate is established here.
The court granted an approval and vesting order for the sale to 1678694 Canada Inc. Closing terms, as extracted: Receiver's Certificate to be filed confirming completion of the transaction.
Source: Approval and Vesting Order of the Honourable Justice Black dated April 23, 2026
Book of Authorities of the Receiver dated April 17, 2024 — Application / notice of application
Endorsement of the Honourable Justice Brown of the Court of Appeal dated December 15, 2023 — Endorsement / reasons
Book of Authorities of RBC for Court of Appeal dated December 4, 2023 — Application / notice of application
Amended Notice of Motion for Leave to Appeal dated November 2, 2023 — Application / notice of application
Placed Ten 4 System Ltd. and the other named debtors into receivership under BIA s. 243 and provincial Judicature Act authority, commencing the Commercial List proceeding.
Source: Receivership Order of the Honourable Justice Osborne dated October 18, 2023
Supplementary Book of Authorities of RBC dated October 10, 2023 — Application / notice of application
Book of Authorities of the Respondents dated October 2, 2023 — Application / notice of application
Endorsement of the Honourable Justice Osborne dated September 20, 2023 — Endorsement / reasons
Debtor
Ten 4 System Ltd. et al.
Receiver
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Osborne | Ontario Superior Court of Justice | 9 orders, Sep 2023 – Apr 2024 | 168 cases on record |
| Justice Black | Ontario Superior Court of Justice | 3 orders, Apr 2026 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Receivermsi Spergel inc. | Harrison Pensa LLP | 12 Oct 2023 | Endorsement · 2 Nov 2023 |
| Applicant | Borden Ladner Gervais LLP | 18 Oct 2023 | Order · 18 Oct 2023 |
| DebtorTen 4 System Ltd. et al. | M. Singh Law Professional Corporation | 2 Oct 2023 | Factum · 2 Oct 2023 |
| CreditorRBC estimates | Borden Ladner Gervais LLP | 4 Dec 2023 | Factum · 4 Dec 2023 |
| CreditorRoyal Bank of Canada | Borden Ladner Gervais LLP | 12 Oct 2023 | Factum · 4 Dec 2023 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 584 cases550 Ontario GSA dated December 22, 2022; charge on real property municipally known as 2396 Cedar Creek Road, Ayr, Ontario (affidavit states registered January 24, 2023; demand letters and exhibit index state registration date of December 15, 2022 with Land Registry Office #58 - discrepancy in stated registration date); assignment of rents dated December 22, 2022; assignment of insurance dated December 22, 2022; Ontario PPSA registration (currency date Aug 17, 2023) — Debt under the 550 EOI. Guaranteed (unlimited amount) by Ten 4 System Ltd. and 1000043321 Ontario Inc., and personally by Nasir · as of 31 Aug 2023 | $5.3M | Application Record of RBC dated September 13, 2023 |
| Secured | |||
| Secured | |||
| Secured | |||
| Secured |
4 more claims in 1 class The stack holds Secured 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 approved — Transaction approved and vesting of Purchased Assets in the PurchaserApproval and Vesting Order of the Honourable Justice Black dated April… · 23 Apr 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1678694 Canada Inc.all of the Debtors' right, title and interest in and to the Purchased Assets · real property · agreement 26 Nov 2025 | not stated | Approved23 Apr 2026 | Approval and Vesting Order of the Honourable… |
3 engagements · 3 firms — latest: Harrison Pensa LLP, 11 Sep 2023 – 1 Apr 2024Motion Record of the Receiver · 4 Apr 2024
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| (firm not named)capacity not statedfirm not named in the heading | 1 Sep 2023 – 29 Feb 2024 | Motion Record of the Receiver · 4 Apr 2024 | |||
| Harrison Pensa LLPCounsel | 11 Sep 2023 – 1 Apr 2024 | — | — | not stated | Motion Record of the Receiver · 4 Apr 2024 |
| msi Spergel Inc.Receiver | 1 Sep 2023 – 29 Feb 2024 | Motion Record of the Receiver · 4 Apr 2024 |
6 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Approval and Vesting Order of the Honourable Justice Black dated April 23, 2026
| PDF · Subscribers | |
Endorsement of the Honourable Justice Black dated April 23, 2026
| PDF · Subscribers | |
Order of the Honourable Justice Black dated April 23, 2026
| PDF · Subscribers | |
Endorsement of the Honourable Justice Osborne dated April 24, 2024
| PDF · Subscribers | |
Order of the Honourable Justice Osborne dated April 24, 2024
| PDF · Subscribers | |
| Book of Authorities of the Receiver dated April 17, 2024 | PDF · Subscribers | |
| Factum of the Receiver dated April 17, 2024 | PDF · Subscribers | |
Motion Record of the Receiver dated April 4, 2024
| PDF · Subscribers | |
Endorsement of the Honourable Justice Osborne dated March 25, 2024
| PDF · Subscribers | |
Endorsement of the Honourable Justice Brown of the Court of Appeal dated December 15, 2023
| PDF · Subscribers | |
| Factum of Appellants dated December 7, 2023 | PDF · Subscribers | |
Motion Record of the Appellants dated December 7, 2023
| PDF · Subscribers | |
| Book of Authorities of RBC for Court of Appeal dated December 4, 2023 | PDF · Subscribers | |
Leave Factum of RBC dated December 4, 2023
| PDF · Subscribers | |
Endorsement of the Honourable Justice Osborne dated November 14, 2023
| PDF · Subscribers | |
Amended Appellant's Certificate dated November 2, 2023
| PDF · Subscribers | |
| Amended Notice of Motion for Leave to Appeal dated November 2, 2023 | PDF · Subscribers | |
Endorsement of the Honourable Justice Osborne dated October 26, 2023
| PDF · Subscribers | |
Partial Sealing Order of the Honourable Justice Osborne dated October 26, 2023
| PDF · Subscribers | |
Endorsement of the Honourable Justice Osborne dated October 18, 2023
| PDF · Subscribers | |
Receivership Order of the Honourable Justice Osborne dated October 18, 2023
| PDF · Subscribers | |
Service List as at October 12, 2023
| PDF · Subscribers | |
Redacted Supplemental Affidavit of Nasir Mahmood dated October 10, 2023
| PDF · Subscribers | |
| Reply Factum of RBC dated October 10, 2023 | PDF · Subscribers | |
| Supplementary Book of Authorities of RBC dated October 10, 2023 | PDF · Subscribers | |
Reply Affidavit of Tro DerBedrossian dated October 4, 2023
| PDF · Subscribers | |
Book of Authorities of the Respondents dated October 2, 2023
| PDF · Subscribers | |
Factum of the Respondents dated October 2, 2023
| PDF · Subscribers | |
| Responding Record of the Respondents dated October 2, 2023 | PDF · Subscribers | |
Endorsement of the Honourable Justice Osborne dated September 20, 2023
| PDF · Subscribers | |
Application Record of RBC dated September 13, 2023
| PDF · Subscribers | |
| Factum of RBC dated September 13, 2023 | PDF · Subscribers | |
Book of Authorities of RBC dated September 12, 2023
| 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., “Ten 4 System Ltd. et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 5 November 2026, https://proceedings.ca/case/ten-4-system-ltd-et-al
Sources last checked · summary updated 9 August 2026 · Report a correction · Printed from proceedings.ca/case/ten-4-system-ltd-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.