#Filing
Motion Record of Receiver Returnable May 5, 2026 (Distribution and Discharge) — Application / notice of application
Wasaga Heights Inc.
ActiveFollow
- Proceeding
- Receivership (court-appointed)S. 243(1) OF THE BANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, C.B-3, AS AMENDED, AND SECTION 101 OF THE COURTS OF JUSTICE ACT, R.S.O 1990 C. C43, AS AMENDED
- File
- CV-25-00746724-00CL
- Industry
- Real estate · Residential development
OverviewSummary updated
Wasaga Heights Inc. has been under court-appointed receivership in Ontario since September 11, 2025, brought under section 243 of the BIA and provincial Judicature Act authority. AFC Mortgage Administration Inc. ranks as senior secured creditor, owed approximately $7,076,736.98 as of January 4, 2026 plus accruing interest, costs and expenses, on a second registered charge against the Wasaga Property and a general security agreement, personally guaranteed by director and officer Sohail Siddiqui. A first registered charge held by 2251055 Ontario Inc., with a registered principal of $300,000 from June 2018, has been postponed to the AFC Charge, and the Receiver has not obtained the underlying loan documents or a dated balance. Both charges are postponed to a Town of Wasaga Beach priority notice tied to a May 21, 2024 site plan agreement; municipal tax arrears for 2024 and 2025 were approximately $93,000 as of August 14, 2025.
Proceedings AIOpen Proceedings AI
Case updates9 dated entries
#Filing
Receiver's Motion Record Returnable March 16, 2026 (Sale Approval) — Application / notice of application
#Filing
Receiver's Motion Record Returnable January 14, 2025 ( Stalkinmg Horse Sale Procedure) was filed. Court file CV-25-00746724-00CL.
Source: Receiver's Motion Record Returnable January 14, 2025 ( Stalkinmg Horse Sale Procedure)
#Order
A receivership order was granted. Court file CV-25-00746724-00CL.
Source: Court Order appointing Receiver
Parties
Debtor
Wasaga Heights Inc.
Applicant
AFC Mortgage Administration Inc.
Receiver
Rosen Goldberg
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 1 order, Jan 2026 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantAFC Mortgage Administration Inc. | Teplitsky, Colson LLP | 11 Sep 2025 | Order · 11 Sep 2025 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | AFC Mortgage Administration Inc. · in 3 casesAFC Charge - second registered charge (Instrument No. SC1933143, registered September 27, 2022) with registered principal amount of $3,640,000, increased by notice (Instrument No. SC2008063, registered September 14, 2023) to a registered principal amount of $4,475,000; also secured by a general assignment of rents and a general security agreement; AFC is the only party with a PPSA registration against the Debtor's personal property (covering general security agreement, assignments of rents and leases, and guarantee). — Notice of Motion states an approximate indebtedness of $7,076,736.98 as at · as of 4 Jan 2026 | $7.08M | Receiver's Motion Record Returnable January 14, 2025 ( Stalkinmg Horse Sale Procedure) |
| Secured | |||
| Secured | |||
| Secured |
3 more claims in 1 class The stack holds Secured 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.
Documents8 filings
| Date | Document | File |
|---|---|---|
| Motion Record of Receiver Returnable May 5, 2026 (Distribution and Discharge) | PDF · Subscribers | |
| Motion Record of Receiver returnable April 16, 2026 | PDF · Subscribers | |
| Receiver's Motion Record Returnable March 16, 2026 (Sale Approval) | PDF · Subscribers | |
Endorsement of Justice Conway dated January 14, 2026
| PDF · Subscribers | |
Receiver's Motion Record Returnable January 14, 2025 ( Stalkinmg Horse Sale Procedure)
| PDF · Subscribers | |
Court Order appointing Receiver
| PDF · Subscribers | |
Endorsement of Justice Dietrich dated September 11, 2025
| PDF · Subscribers | |
| Application record | 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., “Wasaga Heights Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/wasaga-heights-inc