Ontario · Receivership (court-appointed)
First Report of the Receiver dated January 20, 2026
Court officer report · 20 January 2026
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What we verified from this filing6 verified
- secured creditorsnote: Amount is as of October 21, 2025 'plus unposted accrued interest, fees and enforcement costs'; interest and costs continue to accrue. Includes EFC's outstanding CEBA indebtedness of $57,757.49 (CEBA facility principal $60,000). Facility limits, not balances: revolving line up to $400,000 (Rexig Realty); non-revolving facilities aggregate principal $1,465,138 (EFC) and $3,304,283 (Rexig Marketing); EFC and Rexig Marketing also owe overdraft balances on their CIBC deposit accounts. Personal guarantees exist from the three Personal Guarantors (directors Pawel Poliszot, Sebastian Streker, Christopher Sarris), who also postponed and assigned debts owed to them by the borrowers to CIBC. Independent security opinion by Aird & Berlis: security valid, enforceable and perfected, subject to standard assumptions and qualifications. Receiver states CIBC is first-ranking and no claims rank in priority other than the lien/government claims in Section 2.3. · page: 9 · as of: 2025-10-21 · amount: 4844226.36 · debtor: Rexig Realty Investment Group Ltd., EFC Capital Inc. and Rexig Marketing Ltd. (each a borrower; obligations cross-guaranteed among the Debtors) · creditor: Canadian Imperial Bank of Commerce (CIBC) · currency: CAD · security: First-ranking mortgages registered against the Real Property, in registered principal amounts (registration amounts, not balances): $2,400,000 (Units 5 & 6, 2390 Bristol Circle, Instrument HR1856925, dated 2022-01-05), $1,400,000 (Unit 11, 2380 Bristol Circle, Instrument HR1972901, dated 2023-06-30), $700,000 (Unit 10, Instrument HR1594268, dated 2018-12-20), $780,000 (Unit 12, Instrument HR1693271, dated 2020-04-01); general security agreements from each Debtor over all present and after-acquired personal property; general assignments of rents (Instruments HR1693315 and HR1856926). PPSA search with file currency 2026-01-14 reveals security registrations solely in favour of CIBC.
- secured creditorsnote: Approximate amount as stated. Classed by the Receiver under 'Lien Claimants/Government Claims'; per Section 7.0 these claims rank in priority to CIBC's secured indebtedness. · page: 10 · as of: 2026-01-15 · amount: 174321 · creditor: Municipal taxing authority (unpaid property taxes; municipality not named) · currency: CAD · security: Property tax arrears relating to the Real Property; the Report states property tax arrears resulted in liens being registered against title (Section 2.4).
- secured creditorsnote: Approximate aggregate of lien claims for unpaid condominium maintenance fees. Estimate reflects only amounts confirmed or reasonably quantified for Units 5, 6 and 11; the Receiver has not received status certificates for Units 10 and 12, so the aggregate may increase. Per Section 7.0 these claims rank in priority to CIBC. Per-unit certificate amounts ($5,532.05 each for Units 5 and 6, comprising $1,912.48 common expenses, $19.57 interest, $3,600.00 legal costs) are earlier, dated figures within the aggregate. · page: 10 · as of: 2026-01-15 · amount: 91097 · debtor: Rexig Marketing Ltd. (registered owner of Units 5, 6 and 11) · creditor: Condominium lien claimants (Halton Standard Condominium Corporation No. 553 per registered certificates for Units 5 and 6) · currency: CAD · security: Condominium liens under the Condominium Act, 1998 registered against title to certain of the Real Property, including Instrument HR2090700 (Unit 5, registered 2025-03-10) and Instrument HR2090872 (Unit 6, registered 2025-03-11), each certifying a lien of $5,532.05 as of the certificate; an Instrument HR2090699 condominium lien is also listed in the appendices.
- unsecured creditorsnote: No aggregate amount owed to Third-Party Brokers is stated. Trust claim per the Receiver (Section 8.0): such monies 'do not form part of the Debtors' property or the security available to creditors'. Brokerage records are unclear and internally inconsistent; the Receiver will pay only entitlements it can verify, subject to Court approval. Accounts are frozen by RECO order. · page: 12 · basis: Receiver's report: certain commission proceeds 'constitute monies held by the Debtors in trust for certain third-party brokers'; approximately $86,000 of commissions remain in the RECO-frozen account, the majority of which are owed to Third-Party Brokers. · debtor: Rexig Realty Investment Group Ltd. (brokerage) · creditor: Third-Party Brokers (co-operating brokers owed commissions) · currency: CAD
- unsecured creditorsnote: Amount unknown, not a stated zero — the Receiver's review is incomplete and distributions to brokers related to the Debtors will be addressed in a future motion. Some claimants are related parties (the Personal Guarantors). · page: 12 · basis: Receiver's report: 'the Receiver has not completed a review of amounts owed to Rexig Realty brokers, some of whom are the Personal Guarantors'. · debtor: Rexig Realty Investment Group Ltd. · creditor: Rexig Realty brokers and agents (commissions owing) · currency: CAD
- unsecured creditorsnote: No arrears total stated (monthly rent $6,000; components not summed). Units 10 & 12, used by Rexig Realty as tenant, are owned by related debtor EFC Capital Inc., so the arrears may be intercompany. A Lease Termination Agreement dated December 9, 2025 is appended to the Report. · page: 145 · basis: RECO Notice of Proposal: 'REXIG has failed to make its monthly rental payments of $6,000 since August 2025 on a lease ending in April 2040'; Carter Affidavit: no rent payments since August 2025, last payment deposited July 3. · debtor: Rexig Realty Investment Group Ltd. · creditor: Landlord under Rexig Realty's premises lease (rent arrears; landlord not named on these pages) · currency: CAD