Vandyk-Backyard Queensview Limited & Vandyk-Backyard Humberside Limited
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-24-00713783-00CL
- Industry
- Real estate · Residential development
Vandyk-Backyard Queensview Limited and Vandyk-Backyard Humberside Limited were placed in court-appointed receivership by order of the Ontario Superior Court of Justice dated February 6, 2024, on the application of Peoples Trust Company and Firm Capital Mortgage Fund Inc., under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. RSM Canada Limited was appointed receiver and manager under court file CV-24-00713783-00CL. Peoples Trust Company and Firm Capital Mortgage Fund Inc. hold a first mortgage under which $12,000,201.89 is owed, with interest accruing at approximately $95,000 a month. Numerous construction liens have been registered against the Queensview property, the largest by Urban Mechanical Contracting Ltd. at $2,282,408.34 and Foremont Drywall Highrise at $1,845,369.24, their priority not yet determined. The receivership remains active.
A claims procedure has been established — see the order for deadlines.
Per the Lien Claims Process Order dated March 6, 2024 dated 6 March 2024.
The court granted an approval and vesting order for the sale to LEJA, Katarzyna and BARAN, Randall Dennis. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction/waiver of closing conditions.
Source: Approval and Vesting Order – Unit 211 dated January 13, 2025
The court granted an approval and vesting order for the sale to VECCHIO MILOVICH, Nicolas and AKGUL, Hatice. Closing terms, as extracted: Vesting effective upon delivery of the Receiver's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.
Source: Approval and Vesting Order – Unit 202 dated January 13, 2025
The officer filed report no. Sixth Report. The Receiver continues to market, lease, and sell the remaining unsold condominium, parking, and locker units in the two developments, having closed the Unit 811 sale and now seeking court approval to close the Unit 202 and Unit 211 sales, while leasing a limited number of units to generate interim rental income.
Motion Record of the Receiver returnable January 13, 2025 — Application / notice of application
The court granted an approval and vesting order for the sale to Hiba Omar. Closing terms, as extracted: Vesting effective upon delivery of the Receiver's Certificate confirming payment of the Purchase Price and satisfaction of closing conditions.
Source: Approval and Vesting Order – Unit 811 dated July 18, 2024
The officer filed report no. Fifth Report. The Receiver continues marketing and leasing the remaining unsold condominium units, closed the Unit 312 sale, and is seeking approval to close the Unit 811 sale, while lien claims filed against the units remain unresolved.
The officer filed report no. Fourth Report. The Receiver continues to market, sell and lease the remaining unsold condominium units, has processed lien claims filed by the claims bar date, and is seeking court approval of an order governing distribution of sale proceeds pending resolution of lien priority disputes.
The court granted an approval and vesting order.
Source: Approval and Vesting Order - Unit 312 dated June 6, 2024
The officer filed report no. Third Report. The Receiver continued marketing and selling/leasing the remaining unsold condominium units, closed the Unit 311 sale, is seeking approval of the Unit 312 sale, and is administering a lien claims process against the debtors' unsold units.
The court granted an approval and vesting order for the sale to Shishir Handa. Closing terms, as extracted: Vesting occurs upon delivery of a Receiver's Certificate confirming payment of the Purchase Price and satisfaction of closing conditions.
Source: Approval and Vesting Order - Unit 311 dated April 30, 2024
Motion Record of the Receiver returnable April 30, 2024 — Application / notice of application
The officer filed report no. Second Report of the Receiver. The Receiver is marketing and selling the remaining unsold condominium units amid a weak Toronto condo market, and intends to lease certain vacant units on an interim basis to offset carrying costs while the sale process continues.
The court granted an approval and vesting order for the sale to Paul Michael Foggia and Simona Moscillo. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment and satisfaction of conditions.
Source: Approval and Vesting Order - Unit 302 dated March 6, 2024
The court appointed RSM Canada Limited as receiver and manager, on the application of Peoples Trust Company and Firm Capital Mortgage Fund Inc.. Court file CV-24-00713783-00CL.
Peoples Trust Company and Firm Capital Mortgage Fund Inc.'s application for the appointment of a receiver was issued on January 30, 2024.
Debtor
Vandyk-Backyard Queensview Limited & Vandyk-Backyard Humberside Limited
Receiver
RSM Canada
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 11 orders, Feb 2024 – Jun 2024 | 318 cases on record |
| Justice Black | Ontario Superior Court of Justice | 5 orders, Jul 2024 – Jan 2025 | 198 cases on record |
| Justice Osborne | Ontario Superior Court of Justice | 2 orders, Nov 2024 | 168 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverRSM Canada | Fogler, Rubinoff LLP Previously Thornton Grout Finnigan LLP (last seen 6 Mar 2024) | 4 Mar 2024 | Service list · 24 Feb 2025 |
| ApplicantPeoples Trust Company and Firm Capital Mortgage Fund Inc | Thornton Grout Finnigan LLP | 30 Jan 2024 | Order · 6 Feb 2024 |
| CreditorBrunco Insulation Ltd | Kennaley Construction Law | 27 Oct 2026 | Service list · 27 Oct 2026 |
| CreditorClassic Tile Contractors Limited (lien claimant) | Philip Horgan Law Office | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorDircam Electric Limited (lien claimant) | Miller Thomson LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorForemont Drywall (Highrise / ICI Division) Ltd | Bianchi Presta LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorHome Trust Company | Chaitons LLP | 27 Oct 2026 | Service list · 27 Oct 2026 |
| CreditorKC Structural Ltd | Cambridge LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorMetergy Solutions Inc | Goldman Sloan Nash & Haber LLP · Torkin Manes LLP | 24 Feb 2025 | Service list · 27 Oct 2026 |
| CreditorNext Plumbing & Hydronics Supply Inc | Goldman Sloan Nash & Haber LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorPeoples Trust Company | Goldman Sloan Nash & Haber LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorPeoples Trust Company and Firm Capital Mortgage Fund Inc | Robins Appleby LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorPermaCorp Group of Companies Inc | Miller Thomson LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorPlycon Forming Ltd | Goldman Sloan Nash & Haber LLP · Soccol Law | 24 Feb 2025 | Service list · 27 Oct 2026 |
| CreditorPurchasers of Unit 202 | Vantage Law | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorPurchasers of Unit 710 | Koch Law Professional Corporation | 27 Oct 2026 | Service list · 27 Oct 2026 |
| CreditorSummit Concrete & Drain Ltd | Sutherland Law | 27 Oct 2026 | Service list · 27 Oct 2026 |
| CreditorTarion Warranty Corporation | Torys LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorTDB Restructuring Limited | Thornton Grout Finnigan LLP | 25 Apr 2024 | Order · 30 Apr 2024 |
| CreditorTorre D.C.C. Carpentry Ltd | Drudi Alexiou Kuchar LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorTrisura Guarantee Insurance Company | Borden Ladner Gervais LLP | 24 Feb 2025 | Service list · 24 Feb 2025 |
| CreditorUrban Mechanical Contracting Ltd | Drudi Alexiou Kuchar LLP Previously Bisceglia & Associates (last seen 24 Feb 2025) | 24 Feb 2025 | Service list · 27 Oct 2026 |
| CreditorVenice Construction Inc | Rar Litigation | 24 Feb 2025 | Service list · 24 Feb 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Peoples Trust Company and Firm Capital Mortgage Fund Inc.First Mortgage (registered principal amount $12.7 million plus interest, fees and costs) and General Security Agreement — Interest accrues at approx. $95,000/month ($3,050/diem) after this date; registered charge AT6405972 shows $12,700,000 (original principal advance, not balance) — debtor: Vandyk-Backyard Queensview Limited and Vandyk-Backyard Humberside Limited · as of 23 Jan 2024 | $12M | First Report of the Receiver dated February 27, 2024 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
19 more claims in 3 classes The stack holds Secured, PMSI / lessors 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.
13 transactions · 7 approved · 4 closed · 2 proposed — Since the Third Report, there have been no offers that have resulted in concluded sale agreements in respect of any of the Unsold Units.Fourth Report of the Receiver dated June 25, 2024 · 25 Jun 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Paul Michael Foggia and Simona Moscillothe Debtors' and the Receiver's right, title and interest in and to the property described in the Sale Agreement (the ' Purchased Assets ') · real property · agreement 7 Jan 2024 | not stated | Approved6 Mar 2024 | Approval and Vesting Order - Unit 302 dated… |
| purchaser of Unit 302, unnamedUnit 302 · real property | not stated | Closeddate not stated | Second Report of the Receiver dated April 22,… |
| Shishir Handathe Receiver's right, title and interest in and to the property described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 20 Feb 2024 | not stated | Approved30 Apr 2024 | Approval and Vesting Order - Unit 311 dated… |
| purchaser of Unit 311, unnamedUnit 311 · real property | not stated | Closeddate not stated | Third Report of the Receiver dated June 2, 2024 |
| Laila Daniela Alejo Acosta and Jorge Marin Escobar Arroyo as joint tenantsthe Receiver's right, title and interest in and to the property described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 8 May 2024 | not stated | Approved6 Jun 2024 | Approval and Vesting Order - Unit 312 dated… |
| Lana Daniela Alejo Acosta Jorge Mann Escobar ArroyoUnit 312 · real property · agreement 8 May 2024 | not stated | Closeddate not stated | Fifth Report of the Receiver dated July 11, 2024 |
| Hiba Omarthe Receiver's right, title and interest in and to the property described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 4 Jul 2024 | not stated | Approved18 Jul 2024 | Approval and Vesting Order – Unit 811 dated… |
| purchaser of Unit 811, referenced as closed transactionUnit 811 · real property | not stated | Closeddate not stated | Sixth Report of the Receiver dated January 3,… |
| purchasers under the Unit 202 APS, unnamed in operative textUnit 202 · real property · agreement 9 Dec 2024 | not stated | Proposed | Sixth Report of the Receiver dated January 3,… |
| purchasers under the Unit 211 APS, unnamed in operative textUnit 211 · real property | not stated | Proposed | Sixth Report of the Receiver dated January 3,… |
| LEJA, Katarzyna and BARAN, Randall Dennisthe Purchased Assets described in the Sale Agreement and listed on Schedule 'B' hereto · real property · agreement 10 Nov 2024 | not stated | Approved13 Jan 2025 | Approval and Vesting Order – Unit 211 dated… |
| VECCHIO MILOVICH, Nicolas and AKGUL, Haticethe Receiver's right, title and interest in and to the Purchased Assets described in the Sale Agreement · real property · agreement 9 Dec 2024 | not stated | Approved13 Jan 2025 | Approval and Vesting Order – Unit 202 dated… |
| Toni Cafua Garcia and Justin Paul Wraythe Receiver's right, title and interest in and to the property described in Schedule 'B' hereto (the 'Purchased Assets') · real property · agreement 12 Jan 2025 | not stated | Approved10 Feb 2025 | Approval and Vesting Order – Unit 710 dated… |
Cumulative receipts
$493K
As at 22 Apr 2024Second Report of the Receiver dated April 22, 2024
Cumulative disbursements
As at
1 more reported figure
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Service List as at October 27, 2026
| PDF · Subscribers | |
Service List as at February 24, 2025
| PDF · Subscribers | |
Approval and Vesting Order – Unit 710 dated February 10, 2025
| PDF · Subscribers | |
Approval and Vesting Order – Unit 202 dated January 13, 2025
| PDF · Subscribers | |
Approval and Vesting Order – Unit 211 dated January 13, 2025
| PDF · Subscribers | |
Endorsement of the Honourable Justice Black dated January 13, 2025
| PDF · Subscribers | |
Omnibus Order dated January 13, 2025
| PDF · Subscribers | |
| Motion Record of the Receiver returnable January 13, 2025 | PDF · Subscribers | |
Sixth Report of the Receiver dated January 3, 2025
| PDF · Subscribers | |
Endorsement of the Honourable Justice Osborne dated November 28, 2024
| PDF · Subscribers | |
Priority of Lien Claims Order dated November 28, 2024
| PDF · Subscribers | |
Approval and Vesting Order – Unit 811 dated July 18, 2024
| PDF · Subscribers | |
| Motion Record of the Receiver returnable July 12, 2024 | PDF · Subscribers | |
Fifth Report of the Receiver dated July 11, 2024
| PDF · Subscribers | |
Fourth Report of the Receiver dated June 25, 2024
| PDF · Subscribers | |
Approval and Vesting Order - Unit 312 dated June 6, 2024
| PDF · Subscribers | |
Endorsement of the Honourable Justice Cavanagh dated June 6, 2024
| PDF · Subscribers | |
| Motion Record of the Receiver returnable June 6, 2024 | PDF · Subscribers | |
Third Report of the Receiver dated June 2, 2024
| PDF · Subscribers | |
Ancillary Relief Order dated April 30, 2024
| PDF · Subscribers | |
Approval and Vesting Order - Unit 311 dated April 30, 2024
| PDF · Subscribers | |
Endorsement of the Honourable Justice Cavanagh dated April 30, 2024
| PDF · Subscribers | |
Factum of the Receiver for the Motion returnable April 30, 2024
| PDF · Subscribers | |
| Motion Record of the Receiver returnable April 30, 2024 | PDF · Subscribers | |
Second Report of the Receiver dated April 22, 2024
| PDF · Subscribers | |
Ancillary Relief Order dated March 6, 2024
| PDF · Subscribers | |
Approval and Vesting Order - Unit 302 dated March 6, 2024
| PDF · Subscribers | |
Endorsement of the Honourable Justice Cavanagh dated March 6, 2024
| PDF · Subscribers | |
Lien Claims Process Order dated March 6, 2024
| PDF · Subscribers | |
Factum of the Receiver for the Motion returnable March 6, 2024
| PDF · Subscribers | |
Supplement to the First Report of the Receiver dated March 4, 2024
| PDF · Subscribers | |
First Report of the Receiver dated February 27, 2024
| PDF · Subscribers | |
| Motion Record of the Receiver returnable March 6, 2024 | PDF · Subscribers | |
Appointment Order dated February 6, 2024
| PDF · Subscribers | |
Endorsement of the Honourable Justice Cavanagh dated February 6, 2024
| PDF · Subscribers | |
Application Record dated January 30, 2024
| PDF · Subscribers | |
Notice of Application dated January 30, 2024
| 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., “Vandyk-Backyard Queensview Limited & Vandyk-Backyard Humberside Limited” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/vandyk-backyard-queensview-limited-vandyk-backyard-humberside-limited