Vertamin Real Estate Inc. has been under court-appointed receivership since November 8, 2016, when the Ontario Superior Court of Justice appointed MNP Ltd. as receiver on the application of the Business Development Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The proceeding is active under court file 16-70260. In its statement as of June 14, 2017, the receiver reported BDC secured claims of $2,113,737, held against a charge on 895 Montreal Road and an assignment of rents dated September 20, 2013 together with the personal guarantee of Raymond Kuate Konga, and $1,167,214 held against a charge on 1687 Montreal Road, a general security agreement and an assignment of rents dated October 31, 2012. The City of Ottawa was reported with secured claims of $40,000 and $49,000. CRA Legal Services, Kelly Santini LLP, Magenta Mortgage Corporation and TD Canada Trust were listed as other creditors at a nominal $1.00 each.
The officer filed report no. Final Report of the Receiver. The Receiver completed the realization of the Company's real estate assets (895 and 1687 Montreal Road), with proceeds paid to the secured creditor, which did not recover the full amount of its indebtedness; this is the Receiver's final report.
The officer filed report no. Second Report. The Receiver has entered into an agreement to sell the remaining 1687 Property (the 895 Property sale was already approved in November 2017), completed remedial work after vandalism, and expects to be discharged after the final distribution of sale proceeds.
Source: Second Court Report
Filing of Receivership and reporting duties of Receiver — Notice of receiver (s. 245 / Form 87)
Ontario Superior Court of Justice placed Vertamin Real Estate Inc into court-appointed receivership under BIA s. 243 and provincial Judicature Act authority, commencing the proceeding.
Source: Receivership Order
Debtor
Vertamin Real Estate Inc
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Smiin | Ontario Superior Court of Justice | 1 order, Jun 2017 | 1 case on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Soloway Wright LLP | 26 Jun 2017 | Order · 26 Jun 2017 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Business Development Bank of Canada - Ottawa West · in 8 casesCharge on property located at 895 Montreal Road dated September 20, 2013; assignment of rents dated September 20, 2013; personal guarantee of Raymond Kuate Konga dated September 20, 2013 — Amount owed to creditor holding security, as reported by receiver on date of taking possession; personal guarantee exists (guarantor: Raymond Kuate Konga) — debtor: Vertamin Real Estate Inc. · as of 14 Jun 2017 | $2.11M | Notice of Statement of the Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
7 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.
Cumulative receipts
$3.6M
As at 31 May 2018Final Report of the Receiver and Final SR&D
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Final Report of the Receiver and Final SR&D
| PDF · Subscribers | |
Second Court Report
| PDF · Subscribers | |
First Court Report
| PDF · Subscribers | |
| Filing of Receivership and reporting duties of Receiver | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Notice of Statement of the Receiver
| 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., “Vertamin Real Estate Inc” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/vertamin-real-estate-inc
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/vertamin-real-estate-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.