Ontario · Receivership (court-appointed)
Consolidated Report of the Receiver dated March 1, 2024
Court officer report · 1 March 2024
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What we verified from this filing18 verified
- secured creditorsnote: Amount reflects approximate outstanding balance as at date of Receivership Order per document table; continues to accrue interest and fees. · page: 8 · as of: dates of the Receivership Orders · amount: 46093000 · debtor: Vandyk – Heart Lake Limited · creditor: Dorr Capital Corporation (KingSett loan serviced by Dorr) · currency: CAD · security: Mortgage registered on title to Heart Lake Real Property
- secured creditorsnote: Continues to accrue interest and fees. · page: 8 · as of: dates of the Receivership Orders · amount: 45341000 · debtor: 2402871 Ontario Inc. (240) · creditor: KingSett Mortgage Corporation · currency: CAD · security: Mortgage registered on title to 240 Real Property
- secured creditorsnote: Per document footnote, figure ($7,500,000) reflects the principal amount of the mortgage registered on title, not a confirmed outstanding balance; may differ materially from amount actually outstanding, or there may be no amount outstanding. · page: 8 · debtor: 2402871 Ontario Inc. (240) · creditor: 1820277 Ontario Limited · currency: CAD · security: Mortgage registered on title to 240 Real Property
- secured creditorsnote: Per document footnote, figure ($5,000,000) reflects the principal amount of the mortgage registered on title, not a confirmed outstanding balance; may differ materially from amount actually outstanding, or there may be no amount outstanding. · page: 8 · debtor: 2402871 Ontario Inc. (240) · creditor: Diversified Capital Inc. · currency: CAD · security: Mortgage registered on title to 240 Real Property
- secured creditorsnote: Continues to accrue interest and fees. · page: 8 · as of: dates of the Receivership Orders · amount: 36324000 · debtor: Vandyk – The Ravine Limited · creditor: KingSett Mortgage Corporation · currency: CAD · security: Mortgage registered on title to Ravine Real Property
- secured creditorsnote: John Vandyk is named as a co-respondent with Buckingham in the receivership application, indicating a possible personal guarantee; not explicitly confirmed in this Report. · page: 8 · as of: dates of the Receivership Orders · amount: 38442000 · debtor: Vandyk – The Buckingham North - Grand Central Limited · creditor: MCAP Financial Corporation · currency: CAD · security: Mortgage registered on title to Buckingham Real Property
- secured creditorsnote: Continues to accrue interest and fees. · page: 8 · as of: dates of the Receivership Orders · amount: 71017000 · debtor: Vandyk – The Buckingham North - Grand Central Limited · creditor: Westmount · currency: CAD · security: Mortgage registered on title to Buckingham Real Property
- secured creditorsnote: Per document footnote, figure ($800,000) reflects the principal amount of the mortgage registered on title, not a confirmed outstanding balance; may differ materially from amount actually outstanding, or there may be no amount outstanding. · page: 8 · debtor: Vandyk – The Buckingham North - Grand Central Limited · creditor: Maxims Holdings Inc. · currency: CAD · security: Mortgage registered on title to Buckingham Real Property
- secured creditorsnote: Continues to accrue interest and fees. · page: 8 · as of: dates of the Receivership Orders · amount: 37952000 · debtor: Vandyk – Backyard Kings Mill Limited · creditor: MCAP Financial Corporation · currency: CAD · security: Mortgage registered on title to Kings Mill Real Property
- secured creditorsnote: Continues to accrue interest and fees. · page: 8 · as of: dates of the Receivership Orders · amount: 17104000 · debtor: Vandyk – Backyard Kings Mill Limited · creditor: Westmount · currency: CAD · security: Mortgage registered on title to Kings Mill Real Property
- secured creditorsnote: Per document footnote, reflects the amount owing as at October 23, 2023 (differs from the general 'as at date of Receivership Order' figures used for other creditors). · page: 8 · as of: 2023-10-23 · amount: 72946000 · debtor: 2495065 Ontario Inc. (249) · creditor: Otera Capital Inc. · currency: CAD · security: Mortgage registered on title to 249 Real Property
- secured creditorsnote: Per document footnote, figure ($25,000,000) reflects the principal amount of the mortgage registered on title, not a confirmed outstanding balance; may differ materially from amount actually outstanding, or there may be no amount outstanding. · page: 8 · debtor: 2495065 Ontario Inc. (249) · creditor: CIC Management Services Inc. · currency: CAD · security: Mortgage registered on title to 249 Real Property
- secured creditorsnote: John Vandyk (and Vandyk Properties Incorporated) named as co-respondents with Wabash in the receivership application, indicating a possible personal guarantee; not explicitly confirmed in this Report. · page: 8 · as of: dates of the Receivership Orders · amount: 9147000 · debtor: Vandyk – 41 Wabash Limited · creditor: Fiera FP Real Estate Financing Fund, L.P. · currency: CAD · security: Mortgage registered on title to Wabash Real Property
- secured creditorsnote: Per document footnote, figure ($1,200,000) reflects the principal amount of the mortgage registered on title, not a confirmed outstanding balance; may differ materially from amount actually outstanding, or there may be no amount outstanding. · page: 8 · debtor: Vandyk – 41 Wabash Limited · creditor: 2306610 Ontario Corp. · currency: CAD · security: Mortgage registered on title to Wabash Real Property
- secured creditorsnote: Continues to accrue interest and fees. · page: 8 · as of: dates of the Receivership Orders · amount: 9668000 · debtor: 1000318652 Ontario Inc. (1000) · creditor: Fiera FP Real Estate Financing Fund, L.P. · currency: CAD · security: Mortgage registered on title to 1000 Real Property
- secured creditorsnote: Per document footnote, figure ($30,000,000) reflects the principal amount of the mortgage registered on title, not a confirmed outstanding balance; may differ materially from amount actually outstanding, or there may be no amount outstanding. · page: 8 · debtor: 1000318652 Ontario Inc. (1000) · creditor: Diversified Capital Inc. · currency: CAD · security: Mortgage registered on title to 1000 Real Property
- sale advisorScotiabank; CBRE; JLL; Colliers; TD
- sale outcometext: Sale Processes recommended for Court approval covering multiple Real Properties, not yet launched · scope: whole_business · status: process_approved