Ontario · Receivership (court-appointed)
Application Record - dated May 21, 2025
Application / notice of application · 21 May 2025
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 filing17 verified
- applicantFIERA CANADIAN REAL ESTATE DEBT FUND GP INC. and FIERA FP REAL ESTATE FINANCING FUND, L.P.
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-25-00743191-00CL
- 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
- commencement date13 May 2025
- secured creditorspage: 32 · debtor: 2250310 Ontario Inc. · creditor: The Toronto-Dominion Bank - 10852 · currency: CAD · security: PPSA registration No. 20231101 1431 1530 9490 (blanket all-property registration; no amount stated)
- secured creditorsnote: Originally first-ranking; postponed to second priority behind the Fiera FP Real Estate Financing Fund, L.P. Charge (AT6119379) pursuant to a Priority Agreement and a Postponement of Interest, Instrument No. AT6120508, registered June 30, 2022. Related PPSA registrations 20210114 1450 1862 9115 and 9116 (originally registered by GCNA) were likewise postponed to Fiera FP Real Estate Financing Fund, L.P.'s PPSA registration. · page: 32 · debtor: 2250310 Ontario Inc. · creditor: The Guarantee Company of North America (n/k/a Intact Insurance Company, successor by amalgamation) · currency: CAD · security: Charge Mortgage (GCNA Charge), Instrument No. AT5626023, registered January 19, 2021 against 270 Sheppard Avenue West; registered charge amount $5,900,000 (security for a Tarion Bond/Excess Condominium Deposit Insurance Policy obligation)
- secured creditorsnote: Tax lien registered pursuant to subsection 223(5) and (6) of the Income Tax Act — deemed trust class claim. · page: 32 · amount: 251981.08 · debtor: P&H Development Holdings Inc. · creditor: His Majesty the King in Right of Canada · currency: CAD · security: Notice of Lien, Instrument No. AT6537476, registered March 26, 2024 against 5 Addington Avenue, Toronto
- secured creditorsnote: Indebtedness ('the Indebtedness') per Lender's Payout Statement (Exhibit 35) as at May 12, 2025 = $30,123,748.48 plus per diem interest, costs and fees. Earlier stated balances for same debt: $28,716,927 as at Jan 8, 2025 (Forbearance Agreement acknowledgment) and $29,772,971.76 as at March 31, 2025 (Demand letter). Guaranteed unconditionally/unlimited by Zhong Chen a.k.a. Lawrence Chen (individual, guarantee dated June 24, 2022) and by a Second Guarantee dated April 10, 2023 limited to $27,000,000; also guaranteed by Oxford Road Developments 4 Inc. as Additional Guarantor to the extent of its guarantee. · page: 37 · as of: 2025-05-12 · amount: 30123748.48 · debtor: 2250310 Ontario Inc. and P&H Development Holdings Inc. · creditor: Fiera FP Real Estate Financing Fund, L.P. (by its general partner Fiera Canadian Real Estate Debt Fund GP Inc., formerly General Partner Fiera FP Real Estate Financing Fund Inc.) · currency: CAD · security: Charge/Mortgage of Land, Instrument No. AT6119379, registered June 30, 2022 against 270 Sheppard Avenue West and 5 Addington Avenue (registered charge amount $30,000,000 against each property); Notice of Assignment of Rents-General AT6119380; Security Agreement dated June 24, 2022; PPSA registrations against 2250310 Ontario Inc. (20220627 1001 1590 8798) and P&H Development Holdings Inc. (20220627 1002 1590 8799)
- secured creditorsnote: Woodstock Loan comprises Loan 101080 ($2,379,950 incl. $100,000 interest reserve), Loan 101081 ($7,670,050 incl. up to $2,200,000 interest reserve after May 2023 amendment), and Loan 101082 ($7,500,000 revolving construction facility incl. $300,000 interest reserve) — components not summed per filing. No dated outstanding balance stated in these pages. Guaranteed unlimited joint and several by Zhong Chen a.k.a. Lawrence Chen (individual) per Guarantee and Postponement of Claims dated September 12, 2022. · page: 496 · debtor: Oxford Road Developments 4 Inc. (Woodstock Property) · creditor: Fiera FP Real Estate Financing Fund, L.P. · currency: CAD · security: Charge/Mortgage of Land, Instrument No. CO270801, registered September 27, 2022 with the Oxford Land Registry Office; Notice of Assignment of Rents CO270802; Security Agreement dated September 9, 2022; Notice of Agreement of Amending Charge (Lender's Charge) Instrument No. CO281441, registered June 5, 2023, increasing registered principal to $17,550,000; PPSA registration 20220912 1555 1590 9664
- secured creditorspage: 498 · debtor: Oxford Road Developments 4 Inc. · creditor: The Toronto-Dominion Bank - 10852 · currency: CAD · security: PPSA registration No. 20230307 1933 1531 9706 (blanket all-property registration; no amount stated)
- secured creditorspage: 498 · debtor: Oxford Road Developments 4 Inc. · creditor: Ritasani Investments Inc. · currency: CAD · security: PPSA registration No. 20241025 0903 1590 3075 (blanket all-property registration; no amount stated)
- secured creditorspage: 498 · debtor: Oxford Road Developments 4 Inc. · creditor: Puinea Ontario Inc. · currency: CAD · security: PPSA registration No. 20241025 0903 1590 3075 (as stated in the filing; blanket all-property registration; no amount stated)
- secured creditorspage: 498 · debtor: Oxford Road Developments 4 Inc. · creditor: The Toronto-Dominion Bank - 11752 · currency: CAD · security: PPSA registration No. 20190513 1445 1530 1225 (blanket all-property registration; no amount stated)
- secured creditorsnote: Judgment/execution creditor; no dollar amount stated in the writ summary. · page: 498 · debtor: Oxford Road Developments 4 Inc. · creditor: Ferrell Builders' Supply Limited · currency: CAD · security: Writ of Execution, Certificate #51368569-1161904B, Execution #25-0000151, Court File #CV-24-00088033-0000
- secured creditorspage: 498 · debtor: Oxford Road Developments 4 Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Aggregated PPSA registrations: CWB National Leasing Inc. (20221209 0957 6005 4188), BMW Canada Inc. (20230327 0853 1532 7610), Wells Fargo Equipment Finance Company (20230919 1513 1902 2280); no amounts stated
- secured creditorsnote: Judgment/execution creditor; no dollar amount stated in the writ summary. · page: 498 · debtor: Oxford Road Developments 4 Inc. · creditor: Wise & Associates Professional Corporation · currency: CAD · security: Writ of Execution, Certificate #51368459-3672717B, Execution #25-0000080, Court File #SC-24-00011921-0000