Ontario · Receivership (court-appointed)
First Report to the Court
Court officer report · 26 June 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 filing2 verified
- secured creditorsnote: Amount stated as approximately $31,966,738 plus accruing legal fees, interest, and disbursements; senior secured creditor of 27 Dev. · page: 4 · as of: 2025-05-26 · amount: 31966738 · debtor: 27 Developments, Inc. · creditor: BJK Holdings Ltd. · currency: CAD · security: First ranking mortgage registered on title (the "BJK Mortgage") as security for a mortgage loan extended May 10, 2023
- secured creditorsnote: Subordinated: Pahal and BJK entered into a Subordination and Standstill agreement dated May 29, 2023, whereby Pahal agreed to subordinate all mortgages, charges, liens, encumbrances and security interests in favour of BJK. · page: 4 · debtor: 27 Developments, Inc. · creditor: Rajinder Singh Pahal · currency: CAD · security: Second ranking mortgage registered on title August 5, 2020 for $2,090,000 (registered principal amount, not a stated balance)