Ontario · Receivership (court-appointed)
Third Supplement to the First Report dated October 5, 2026
Court officer report · 5 October 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 filing6 verified
- secured creditorsnote: Not a balance-sheet debt amount stated; CAFO claims a priority entitlement to unearned premiums (premiums said not to form part of the Debtors' property). Receiver obtained a legal opinion that CAFO holds a priority claim; the Lender confirmed it asserts no claim to the unearned premiums. Amount owed to CAFO is not stated. · page: 21 · creditor: CAFO Insurance (premium financer) · currency: CAD · security: Asserted entitlement to unearned insurance premiums on cancelled policies it financed
- secured creditorsnote: Total of five registered liens as stated in the endorsement; individual lien claimants are not named. Liens are subject to a proposed Lien Claims Process (vetting, dispute mechanism, recommendations to the Court); validity and priority not yet determined. Date of the stated total not given. · page: 21 · amount: 4166612.41 · creditor: Registered construction lien claimants (five liens, aggregate) · currency: CAD · security: Five construction liens registered against title to the Real Property
- secured creditorsnote: Amount is the 'approximately' $80,449,071.35 indebtedness stated by the endorsement as of May 12, 2025, with interest accruing at 18.00% per annum thereafter. The endorsement does not name the Lender in this passage; UBC is identified as the Lender in the Receiver's report and the endorsement's title ('UBC Solutions Incorporated v. 1680 Brimley Limited Partnership et al'). Debtors' Land Loan went unrepaid on maturity. · page: 21 · as of: 2025-05-12 · amount: 80449071.35 · debtor: 1680 Brimley Limited Partnership; 2808908 Ontario Inc.; Brimley Progress Developments Inc. · creditor: UBC Solutions Incorporated (the Lender) · currency: CAD · security: First mortgage/charge of $80,000,000 registered against title (a registration ceiling, not a balance); first-ranking security over all current and after-acquired property under three general security agreements dated September 29, 2023, and a general assignment of rents and leases. Underlying Land Loan advance of $70,000,000 under a Credit Agreement dated September 29, 2023 (as amended) (original advance, not balance).
- operational summaryThe Receiver reports on CBRE's marketing of the Brimley Real Property, UBC's alleged involvement and the transfers to Hansalex, and recommends that the property remain listed for sale with CBRE while it seeks further documents from the Debtors.
- report date5 October 2026
- report noThird Supplement to the First Report of the Receiver