Ontario · Receivership (court-appointed)
Application Record – August 12, 2026
Application / notice of application · 12 August 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing16 verified
- applicantEXTEND FINANCIAL (CV) HOLDINGS INC. and EXTEND FINANCIAL LTD.
- commencement date12 August 2026
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-26-00000332-0000
- statutory basisSection 243(1) of the Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-3), and Section 101 of the Courts Of Justice Act, R.S.O. 1990, C. C.43
- appointeeALBERT GELMAN INC.
- appointee roleProposed Receiver
- secured creditorsnote: Secures Borrower's obligations as residential builder under Ontario New Home Warranties Plan Act; also holds PPSA registrations (general interest in purchasers'/deposit trust monies) re Upper Vista Muskoka and Upper Vista Muskoka III projects · page: 39 · as of: 2022-11-08 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Westmount Guarantee Services Inc. · currency: CAD · security: Charge registered as Instrument No. MT273209 in the principal amount of $4,000,000 (registered principal, not a balance); subordinated to the Mortgages pursuant to registered postponement agreements; discharged from PINs other than those still solely owned by the Borrower
- secured creditorsnote: Approximately $593,861.47, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou and 557 Ontario · page: 43 · as of: 2026-05-04 · amount: 593861.47 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Extend Financial (CV) Holdings Inc. · currency: CAD · security: 5 Turnberry Mortgage, Instrument No. MT311743, first priority on PINs 48909-0019 and 48909-0020; facility limit $571,900.00
- secured creditorsnote: Approximately $676,260.56, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou (personal guarantee, related party as sole director of corporate respondents) · page: 43 · as of: 2026-05-04 · amount: 676260.56 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Extend Financial (CV) Holdings Inc. (as transferee; mortgages originally advanced by Extend Financial Ltd.) · currency: CAD · security: 19 Turnberry Mortgage, Instrument No. MT311736, first priority on PINs 48909-0016 and 48909-0017; facility limit $648,375.00
- secured creditorsnote: Approximately $692,054.25, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou (personal guarantee); RBC Kaur Dandona Mortgage ($679,920.00 principal, registered Feb 12, 2025) encumbers only the Kaur Dandona co-owners' interests in PIN 48909-0002, not the Borrower's interest · page: 43 · as of: 2026-05-04 · amount: 692054.25 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Extend Financial (CV) Holdings Inc. · currency: CAD · security: 2 Turnberry Mortgage, Instrument No. MT311742, first priority on PIN 48909-0001 and first-ranking charge on Borrower's 50% interest in PIN 48909-0002; facility limit $648,375.00
- secured creditorsnote: Approximately $682,554.75, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou; CIBC Chowdhury Mortgage ($991,920.00 principal, registered Jan 28, 2025) encumbers only co-owner Chowdhury's interest in PIN 48909-0005 · page: 43 · as of: 2026-05-04 · amount: 682554.75 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Extend Financial (CV) Holdings Inc. · currency: CAD · security: 8 Turnberry Mortgage, Instrument No. MT311738, first priority on PIN 48909-0006 and only mortgage on Borrower's interest in PIN 48909-0005; facility limit $648,375.00
- secured creditorsnote: Approximately $692,241.92, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou · page: 43 · as of: 2026-05-04 · amount: 692241.92 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Extend Financial (CV) Holdings Inc. · currency: CAD · security: 21 Turnberry Mortgage, registered July 14, 2025; facility limit $648,375.00
- secured creditorsnote: Approximately $685,176.91, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou · page: 43 · as of: 2026-05-04 · amount: 685176.91 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Extend Financial (CV) Holdings Inc. · currency: CAD · security: 23 Turnberry Mortgage, registered July 14, 2025; facility limit $641,725.00
- secured creditorsnote: Approximately $684,990.77, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou · page: 43 · as of: 2026-05-04 · amount: 684990.77 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Extend Financial (CV) Holdings Inc. · currency: CAD · security: 17 Turnberry Mortgage, Instrument No. MT311737, first priority on PIN 48909-0018, ranks behind 19 Turnberry Mortgage on PIN 48909-0017; facility limit $641,725.00
- secured creditorsnote: Approximately $682,554.75, exclusive of accruing interest, legal fees and enforcement costs; guaranteed by Jiancheng Zhou and 514 Ontario; RBC La Borde Mortgage ($650,000 principal, registered Jan 27, 2025) encumbers only co-owner La Borde's 50% interest in PIN 48909-0008 · page: 43 · as of: 2026-05-04 · amount: 682554.75 · debtor: Evertrust Development (Muskoka) Inc. · creditor: Extend Financial (CV) Holdings Inc. · currency: CAD · security: 10 Turnberry Mortgage, Instrument No. MT311739, first priority on PIN 48909-0007, ranks behind RBC La Borde Mortgage on PIN 48909-0008; facility limit $648,375.00