#Filing
Motion Record of Receiver Returnable May 5, 2026 (Distribution and Discharge) — Application / notice of application
Wasaga Heights Inc.
FollowActive
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-25-00746724-00CL
Filings held8
Last activity5 May 2026
On the record375 days
Secured debt$7.08M
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 AIAsk this case — answers cite the filings
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 Dietrich | Ontario Superior Court of Justice | 2 orders, Sep 2025 | 109 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 2 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 | The Corporation of the Town of Wasaga Beach (property tax arrears)Municipal property tax arrears (statutory priority lien) for the 2024 and 2025 tax years. — Approximate figure ('approximately $93,000') as stated in the endorsement of Justice Dietrich; distinct from the site-plan-agreement notice registration and not a registered PPSA/land charge amount, but municipal tax arrears carry statutory priority. — debtor: Wasaga Heights Inc. · as of 14 Aug 2025 | $93K | Receiver's Motion Record Returnable January 14, 2025 ( Stalkinmg Horse Sale Procedure) |
| Secured | The Corporation of the Town of Wasaga BeachNotice registered pursuant to section 71 of the Land Titles Act relating to a site plan agreement between the Debtor and the Town dated May 21, 2024; the AFC Charge and the 225 Ontario Charge are each subject to postponements in favour of the Town in respect of this notice. — No dollar charge amount stated for this registration; priority is established via postponement of other registered charges in the Town's favour, not a registered monetary charge. — debtor: Wasaga Heights Inc. | — | Receiver's Motion Record Returnable January 14, 2025 ( Stalkinmg Horse Sale Procedure) |
| Secured | 2251055 Ontario Inc.225 Ontario Charge - first registered charge (Instrument No. SC1517147, registered June 13, 2018) in the principal amount of $300,000, together with a general assignment of rents (Instrument No. SC1517148). — Registered/principal amount only, not a stated outstanding balance. The 225 Ontario Charge was contractually postponed in favour of the AFC Charge by registered postponements. The Receiver has not received copies of the underlying 225 Ontario loan documents. — debtor: Wasaga Heights Inc. | — | Receiver's Motion Record Returnable January 14, 2025 ( Stalkinmg Horse Sale Procedure) |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
This 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) | ||
| Motion Record of Receiver returnable April 16, 2026 | ||
| Receiver's Motion Record Returnable March 16, 2026 (Sale Approval) | ||
Endorsement of Justice Conway dated January 14, 2026
| ||
Court Order appointing Receiver
| ||
Endorsement of Justice Dietrich dated September 11, 2025
| ||
| Application record | ||
Receiver's Motion Record Returnable January 14, 2025 ( Stalkinmg Horse Sale Procedure)
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Wasaga Heights Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/wasaga-heights-inc