Ontario · Receivership (court-appointed)
Fifth Report of the Receiver
Court officer report · 28 August 2026
What we verified from this filing15 verified
- secured creditorsnote: Deemed trust class - GST/HST for periods ending 2020-03-31 through 2023-03-31. Land registry lien instrument shows registered amount $96,967. · page: 8 · as of: 2024-03-26 · amount: 101505.13 · debtor: 1818216 Ontario Inc. · creditor: Canada Revenue Agency (His Majesty the King in Right of Canada) · currency: CAD · security: Lien pursuant to instrument AT6462949 registered 2023-11-20 against Unit 101 of Markham Road Property
- secured creditorsnote: Corporate/income tax claim - Receiver states no deemed trust component; ranks behind first and second mortgagees and condo corporation lien. · page: 8 · as of: Certificate Court File Number ITA-7313-23 issuance date · amount: 6474.2 · debtor: 1818216 Ontario Inc. · creditor: Canada Revenue Agency (His Majesty the King in Right of Canada) · currency: CAD · security: Lien pursuant to instrument AT6516948 registered 2024-02-21 against Unit 102 of Markham Road Property
- secured creditorsnote: Deemed trust class - source deductions for 2020 and 2022 tax years. Stated consideration on lien instrument was $78,892.98 (registration ceiling, not balance). · page: 8 · as of: 2024-08-13 · amount: 14755.57 · debtor: 1818216 Ontario Inc. · creditor: Canada Revenue Agency (His Majesty the King in Right of Canada) · currency: CAD · security: Lien pursuant to instrument AT6432851 registered 2023-10-03 against Unit 101 of Markham Road Property
- secured creditorsnote: Deemed trust class (though this component has no deemed trust balance per document). Table shows components: 31-Dec-2018 $191.30, 31-Dec-2019 $7,814.12, accrued interest to 2026-08-19 $46.19; total lien due $8,051.61. · page: 9 · as of: 2026-08-19 · amount: 8051.61 · debtor: 1818216 Ontario Inc. · creditor: Canada Revenue Agency - Corporate Tax claim · currency: CAD · security: Lien AT6516948 on Unit 102, Markham Road Property
- secured creditorsnote: Deemed trust class. Total Lien Due at 2026-08-19 is $35,491.58; separately, Total Deemed Trust Balance is $39,852.81. CRA advised it does NOT exert priority over mortgagees for this claim; does exert priority over condo corporation claim in full. · page: 10 · as of: 2026-08-19 · amount: 35491.58 · debtor: 1818216 Ontario Inc. · creditor: Canada Revenue Agency - Payroll (source deductions) claim · currency: CAD · security: Lien claim relating to employee source deductions
- secured creditorsnote: Grand Total Payable per Lien Discharge Statement (Appendix L): Part A (arrears/interest/collection costs) $66,915.38 + Part B (additional legal costs/HST) $11,500.00. Condo lien ranks ahead of mortgage charges per s.86 Condominium Act, but behind CRA priority claims per Receiver's analysis. · page: 11 · as of: 2026-08-19 · amount: 78415.38 · debtor: 1818216 Ontario Inc. · creditor: Toronto Standard Condominium Corporation No. 2799 · currency: CAD · security: Condominium lien registered pursuant to instrument AT6469352 on 2023-11-30 against both units of Markham Road Property, under s.98 Condominium Act
- secured creditorsnote: Deemed trust class. Total Lien Due at 2026-08-19 is $122,598.02; separately, Total Deemed Trust Balance is $95,337.18. CRA's claimed priority over mortgagees limited to $22,306.97 (sum of deemed trust balances for period 2020-03-31 to 2021-06-30), agreed to by Receiver. CRA exerts priority over condo corporation claim in full. · page: 11 · as of: 2026-08-19 · amount: 122598.02 · debtor: 1818216 Ontario Inc. · creditor: Canada Revenue Agency - GST/HST claim · currency: CAD · security: Lien claim relating to GST/HST
- secured creditorsnote: RBC Payout Statement (Appendix M) breaks down total as: Principal $672,992.17, Other Indebtedness $47,007.83, Accrued Interest $68,043.98, Pro-rated legal fees $23,649.77, Agency fees of BDO Canada Limited $14,331.95. RBC's mortgage on the Coronet Road Property was paid in full via interim distribution. · page: 13 · as of: 2026-08-19 · amount: 826025.7 · debtor: 1818216 Ontario Inc. · creditor: Royal Bank of Canada · currency: CAD · security: First ranking charge/mortgage on Markham Road Property (charge registered 2020-10-22, original charge amount $720,000)
- secured creditorsnote: Report states amount owing 'exceeds remaining property sale proceeds tied to this property' — a floor, exact balance not stated. · page: 13 · debtor: 1818216 Ontario Inc. · creditor: Rajinder Singh Pahal · currency: CAD · security: Second mortgage/charge on Markham Road Property, registered 2021-09-08, original charge amount $400,000
- secured creditorsnote: Report states amount owing 'exceeds remaining property sale proceeds tied to this property' — a floor, exact balance not stated. · page: 13 · debtor: 1818216 Ontario Inc. · creditor: Daljit Singh Banga · currency: CAD · security: Second mortgage/charge on Coronet Road Property
- closing confirmedscope: the Coronet Road Property · outcome: completed · effective: 2024-09-25 · purchaser: Moraki Holding Inc. · date basis: stated · effective time: 12:20 PM EST · approval order date: 2024-09-10; scope: the Markham Road Property · outcome: completed · effective: 2025-03-05 · purchaser: 16712681 Canada Inc. · date basis: stated · approval order date: 2025-02-13
- purchaserMoraki Holding Inc.; 16712681 Canada Inc.
- recovery outcomeentries: basis: estimated · quote: The Receiver does not anticipate that it will be in a position to distribute funds to unsecured creditors of the Debtor. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: actual · quote: RBC's mortgage relative to the Coronet Road Property was paid in full. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: RBC's mortgage relative to the Coronet Road Property · creditor name: Royal Bank of Canada · interim final: unstated · claims qualifier: unstated; basis: actual · quote: As set out in the Receiver's previous reports, the Receiver had made interim distributions to the mortgagees of the Coronet Road Property in the cumulative amount of $673,759.09. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 673759.09 · cumulative: true · amount high: 673759.09 · class label: mortgagees of the Coronet Road Property · interim final: interim · claims qualifier: unstated; basis: actual · quote: To date, the Receiver has not made any distributions to creditors of the Markham Road Property. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: creditors of the Markham Road Property · interim final: unstated · claims qualifier: unstated · stated on: 2026-08-28 · table missing:
- sale advisorColliers Macaulay Nicolls Inc.
- sale outcometext: the successful closing of the sale of the Real Properties · scope: whole_business · status: closed