Zephyrus Equestrian Ltd.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-25-00000131-0000
- Industry
- Real estate
Zephyrus Equestrian Ltd. is in receivership before the Ontario Superior Court of Justice under BIA s. 243 and the provincial Judicature Act, file CV-25-00000131-0000, commenced by a Notice of Application filed July 23, 2025. The Receiver reports it could not confirm the full extent of the debtor's assets and liabilities because the sole director/officer did not respond to requests for books and records, leaving other potential secured and unsecured claims listed as unknown rather than nil. The only confirmed secured creditor is Royal Bank of Canada, owed $584,573.79 as of September 15, 2025, secured by a charge registered May 14, 2020 against real property at 581 Fraser Street, North Bay (registered principal $650,000) and a PPSA all-asset registration renewed June 14, 2024. The real property's net book value, per the most recent appraisal available to the Receiver, is $665,000.
The officer filed report no. First Report. The Receiver has been marketing and managing the Real Property (a commercial office building with four tenants, one of which vacated), collecting rent, and has now entered into an agreement of purchase and sale for the property's sale.
Source: First Report of the Receiver
The court appointed B. Riley Farber Inc. as receiver, on the application of Royal Bank of Canada. Court file CV-25-00000131-0000.
Source: Receivership Appointment Order
Notice of Application filed, commencing the receivership proceeding against Zephyrus Equestrian Ltd. under BIA s. 243 and the Judicature Act.
Source: Application Record
Debtor
Zephyrus Equestrian Ltd.
Receiver
B. Riley Farber
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Stothart | Ontario Superior Court of Justice | 2 orders, Sep 2025 | 1 case on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverB. Riley Farber | Harrison Pensa LLP | 14 Jul 2026 | Factum · 14 Jul 2026 |
| CreditorRoyal Bank of Canada | Aird & Berlis LLP | 21 Aug 2025 | Factum · 21 Aug 2025 |
| CreditorRoyal Bank of Canada A245 | Aird & Berlis LLP | 5 Sep 2025 | Order · 5 Sep 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 584 casesSecurity on the Real Property (581 Fraser Street, North Bay, Ontario); nature of security instrument not specified — Amount also restated identically in the Receiver's List of Creditors (page 3). Receiver notes it is unable to confirm whether other secured creditors exist because the sole director/officer did not provide books and records (see also 'Unknown' placeholder row in List of Creditors). — debtor: Zephyrus Equestrian Ltd. · as of 15 Sep 2025 | $585K | Notice and Statement of Receiver |
2 engagements · 2 firms — latest: Harrison Pensa LLP, 10 Sep 2025 – 15 Apr 2026Motion Record of the Receiver · 1 May 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| GlassRatner Restructuring Inc.Receiver | 17 Jun 2025 – 31 Mar 2026 | — | Motion Record of the Receiver · 1 May 2026 | ||
| Harrison Pensa LLPCounsel to the receiver | 10 Sep 2025 – 15 Apr 2026 | — | — | Motion Record of the Receiver · 1 May 2026 |
3 blurred figures above
What each firm billed — each as the filing states it, with its source.
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Cumulative receipts
$83.4K
As at 31 Mar 2026First Report of the Receiver
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Second Report of the Receiver
| PDF · Subscribers | |
Supplemental Report of the Receiver
| PDF · Subscribers | |
Factum of the Receiver
| PDF · Subscribers | |
Supplemental Record
| PDF · Subscribers | |
Motion Record of the Receiver
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
| Receiver’s Certificate | PDF · Subscribers | |
Notice and Statement of Receiver
| PDF · Subscribers | |
| Service List (September 9, 2025) – PDF | PDF · Subscribers | |
| Service List (September 9, 2025) – Word | PDF · Subscribers | |
Endorsement of Justice Stothart
| PDF · Subscribers | |
Receivership Appointment Order
| PDF · Subscribers | |
| Confirmation of Application | PDF · Subscribers | |
Factum of the Applicant
| 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., “Zephyrus Equestrian Ltd.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/zephyrus-equestrian-ltd