Ontario · Receivership (court-appointed)
First Report Package
Court officer report · 15 September 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 filing12 verified
- cash on handnote: Reported as 'Estate balance' in the Interim Statement of Receipts and Disbursements. · as at: 2026-09-14 · amount: 180187 · currency: CAD
- disbursementssince: June 15, 2026 (the Filing Date) · amount: 69813 · currency: CAD
- operational summaryAs of the Filing Date the Company was not carrying on any operations and had only assets of nominal value; the receivership's primary purpose has been an orderly, court-supervised sale process for the Dufferin Property.
- process resultsbids: 1 · note: Flyer circulated to approximately 1,000 parties; seven prospective buyers attended site tours; offers taken as received with no bid deadline · solicited: 1000
- professional feesnote: Excludes HST; plus disbursements of $4,396.10. GB (counsel) fees for July 24, 2026 to September 15, 2026 totaled $13,644.00 plus $217.83 disbursements, excluding HST, noted separately. · party: Receiver (Albert Gelman Inc.) · amount: 53687 · period: June 15, 2026 to August 31, 2026 · currency: CAD
- purchaser1001717667 Ontario Inc.
- receipts cumulativenote: Represents funds borrowed by the Receiver under a Receiver's Certificate. · since: June 15, 2026 (the Filing Date) · amount: 250000 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: TD is projected to incur a shortfall on its advances to the Company and has consented to the Transaction; and · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: TD · creditor name: The Toronto-Dominion Bank · interim final: unstated · related party: false · claims qualifier: unstated · stated on: 2026-09-15 · table missing:
- report date15 September 2026
- report noFirst Report
- sale advisorLennard Commercial Realty, Brokerage
- sale outcometext: Sole offer received through the listing; APS fully executed August 5, 2026 and amended August 26, 2026; Receiver seeks an approval and vesting order · scope: whole_business · status: pending_approval