#Order
Court appointed BDO Canada Limited receiver over Vaughan St GP Corp. and Vaughan St LP on Libro Credit Union's application under BIA s. 243(1) and CJA s. 101.
Source: Vaughan St Appointment - ORDER
Vaughan St GP Corp. and Vaughan St LP
ActiveFollow
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985. c. B-3, as amended (the "BIA") and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended (the "CJA")
- File
- CV-25-00000335-0000
- Industry
- Real estate
OverviewSummary updated
Vaughan St GP Corp. and Vaughan St LP have been in court-appointed receivership since August 12, 2025, when the Ontario Superior Court of Justice appointed BDO Canada Limited as Receiver on the application of Libro Credit Union Limited under section 243(1) of the BIA and section 101 of the CJA (Court File No. CV-25-00000335-0000). Libro's stated indebtedness was $3,135,819.87 as of July 23, 2025, plus accruing interest and enforcement costs, secured by a continuing collateral mortgage of $3,000,000 principal registered December 4, 2023 against 3 Vaughan Street, Guelph, general security agreements dated December 1, 2023, and unlimited guarantees from Scott O. Reid and RHH Rental Properties Ltd., which assigned itself into bankruptcy on June 18, 2025. Guelph tax arrears of $24,246.90 as of July 22, 2025 constituted a mortgage default, and Martin Simmons Sweers Architects Inc. has a construction lien claiming $553,353.17, ranking behind Libro. The receivership is active.
Proceedings AIOpen Proceedings AI
Case updates2 dated entries
#Filing
Application Record - Applicant - Libro Credit Union Limited - 30-JUL-2025 (004) - Shrink — Application / notice of application
Parties
Debtor
Vaughan St GP Corp. and Vaughan St LP
Receiver
BDO
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Kurz | Ontario Superior Court of Justice | 1 order, Aug 2025 | 4 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Harrison Pensa LLP | 12 Aug 2025 | Order · 12 Aug 2025 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Libro Credit Union Limited · in 6 casesContinuing collateral mortgage (Instrument WC718653, principal amount $3,000,000) registered 2023-12-04 against 3 Vaughan Street, Guelph; General Security Agreements from Vaughan GP and Vaughan LP dated December 1, 2023; Beneficial Ownership Agreement binding Vaughan LP; first charge on Property — Amount is stated indebtedness as of July 23, 2025, plus accruing interest and enforcement costs; earlier demand letters dated January 17, 2025 stated $3,033,834.01 as of January 13, 2025 plus $583.56/day interest (prose/earlier balance); also secured by unlimited personal guarantee of Scott O. Reid a · as of 23 Jul 2025 | $3.14M | Application Record - Applicant - Libro Credit Union Limited - 30-JUL-2025 (004) - Shrink |
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured |
3 more claims in 3 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.
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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.
Documents2 filings
| Date | Document | File |
|---|---|---|
Vaughan St Appointment - ORDER
| PDF · Subscribers | |
Application Record - Applicant - Libro Credit Union Limited - 30-JUL-2025 (004) - Shrink
| 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., “Vaughan St GP Corp. and Vaughan St LP” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/vaughan-st-gp-corp-and-vaughan-st-lp