Winthorp Valentine Inc.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- CV-25-00035404-0000
- Industry
- Real estate · Rental & income property
Winthorp Valentine Inc. is the subject of a court-appointed receivership under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, in the Ontario Superior Court of Justice (In Bankruptcy and Insolvency) under court file CV-25-00035404-0000. The proceeding is closed. The Toronto-Dominion Bank, the secured creditor, has stated indebtedness of CAD $1,546,397.64 as at June 1, 2026, a figure that excludes professional fees and is subject to accruing interest and costs. TD's security consists of a first-ranking charge and mortgage over the real property, in the principal amount of $2.5 million, together with an assignment of rents and a general security agreement. TD is expected to suffer a shortfall.
Court Order of Justice Horvat dated July 28, 2026 (Approval and Vesting Order) — Approval and vesting order
Motion Record of the Receiver (for motion returnable July 28, 2026) — Application / notice of application
First Report of the Receiver dated July 9, 2026 (for motion returnable July 28, 2026) — Court officer report
Outcome brief
Winthorp Valentine: once a month, not once every 72 hours
Thieves broke into a vacant Windsor building for its copper and left a fire behind. The insurer refused the claim because the pre-receivership manager had been inspecting monthly, and on July 28 Justice Horvat approved a sale that leaves TD Bank short.
Debtor
Winthorp Valentine Inc.
Receiver
Albert Gelman
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Horvat | Ontario Superior Court of Justice | 3 orders, Jul 2026 | 3 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlbert Gelman | Spetter Zeitz Klaiman Pc | 28 Jul 2026 | Order · 28 Jul 2026 |
| CreditorToronto-Dominion Bank | Aird & Berlis LLP | 16 Sep 2025 | Order · 16 Sep 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | The Toronto-Dominion Bank (TD Bank) · in 121 casesFirst-ranking mortgage/charge over the Real Property (original principal amount $2.5 million), plus assignment of rents and a general security agreement (GSA); registered on PPSA as the only financing statement (search dated Sept 16, 2025, currency Sept 15, 2025); security opinion obtained confirming validity/enforceability as first-ranking charge — Amount per statement of indebtedness provided by TD Bank; plus accrued and accruing interest and costs; TD Bank expected to suffer a shortfall — debtor: Winthorp Valentine Inc. · as of 1 Jun 2026 | $1.55M | First Report of the Receiver dated July 9, 2026 (for motion returnable July 28, 2026) |
| 4 | Secured | |||
| 8 | Unsecured |
2 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.
Unsecured creditors: no distribution. TD Bank short.EstimatedFirst Report of the Receiver dated July 9, 2026 (for motion · 9 Jul 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | any other secured or unsecured creditors | — | no distribution | Estimatedper the receiver | First Report of the Receiver dated July 9, 2026 (for motion · 9 Jul 2026 |
| Secured | TD Bank | — | shortfall | Estimatedper the receiver | First Report of the Receiver dated July 9, 2026 (for motion · 9 Jul 2026 |
| Unsecured | — | estimated | no distribution | Estimatedper the receiver | First Report of the Receiver dated July 9, 2026 (for motion · 9 Jul 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans2 engagements · 2 firms — latest: Albert Gelman Inc., in feesFirst Report of the Receiver dated July 9, 2026 (for motion · 9 Jul 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Albert Gelman Inc.Receiver | — | First Report of the Receiver dated July 9, 2026 (for motion · 9 Jul 2026 | |||
| Spetter Zeitz Klaiman PCCounsel | — | First Report of the Receiver dated July 9, 2026 (for motion · 9 Jul 2026 |
6 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Court Order of Justice Horvat dated July 28, 2026 (Ancillary and Discharge Order)
| PDF · Subscribers | |
Court Order of Justice Horvat dated July 28, 2026 (Approval and Vesting Order)
| PDF · Subscribers | |
Endorsement of Justice Horvat dated July 28, 2026
| PDF · Subscribers | |
Motion Record of the Receiver (for motion returnable July 28, 2026)
| PDF · Subscribers | |
First Report of the Receiver dated July 9, 2026 (for motion returnable July 28, 2026)
| PDF · Subscribers | |
| Endorsement – September 16, 2025 | PDF · Subscribers | |
Order (Appointing Receiver) – September 16, 2025
| 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., “Winthorp Valentine Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/winthorp-valentine-inc