Ontario · Receivership (court-appointed)
First Report of the Receiver dated September 16, 2025
Court officer report · 16 September 2025
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What we verified from this filing8 verified
- secured creditorsnote: Court-authorized borrowing facility up to $500,000; amount actually borrowed and issued via Receiver's Certificates to date is $200,000. · page: 12 · as of: 2025-09-16 · amount: 200000 · debtor: 2750876 Ontario Inc. · creditor: Receiver (TDB Restructuring Limited) - Receiver's Borrowings Charge · currency: CAD · security: Receiver's Borrowings Charge - fixed and specific charge on the Real Property securing Receiver's Certificates, in priority to all security interests except the Receiver's Charge and BIA ss.14.06(7), 81.4(4), 81.6(2)
- secured creditorsnote: Receiver identifies City's property tax arrears claim as ranking in priority to the Secured Creditor's mortgage (aside from Receiver's Charge and Receiver's Borrowings Charge); a second roll (1651 006 00600200.0000) had a payment of $92,888.47 made toward arrears, remaining balance not stated on this roll. · page: 13 · as of: 2025-09-01 · amount: 54146.04 · debtor: 2750876 Ontario Inc. · creditor: The Corporation of the City of Kawartha Lakes · currency: CAD · security: Statutory claim for property tax arrears pursuant to the Municipal Act (roll no. 1651 030 00245605.0000); balance valid until October 1, 2025
- secured creditorsnote: Court-ordered administration charge securing Receiver and counsel fees/disbursements, ranking ahead of the Secured Creditor's mortgage; not a third-party creditor claim. · page: 15 · debtor: 2750876 Ontario Inc. · creditor: Receiver (TDB Restructuring Limited) and its counsel (Aird & Berlis LLP) · currency: CAD · security: Receiver's Charge - first charge on the Real Property, priority to all security interests/liens/trusts/charges, subject to BIA ss.14.06(7), 81.4(4), 81.6(2)
- secured creditorsnote: Applicant/Purchaser; amount per Payout Statement dated September 15, 2025 (Appendix G); registered charge amount was $9,860,000 (2021 VTB mortgage); Security Opinion from A&B confirms validity/enforceability of the mortgage. · page: 17 · as of: 2025-09-15 · amount: 11760389.97 · debtor: 2750876 Ontario Inc. · creditor: 405 St. David Street Investments Inc. · currency: CAD · security: First charge/mortgage registered against the Real Property on 2021/05/28; registered principal amount $9,860,000
- process resultsbids: 0 · ndas: 11 · note: seven brokerages solicited initially; 20 inquiries and 11 signed confidentiality agreements; no formal offers received as of August 30, 2025 · as of: 2025-08-30 · solicited: 7
- purchaser405 St. David Street Investments Inc.
- sale advisorDan Plowman Team Realty Inc.; Mr. Kumar
- sale outcometext: Receiver recommends approval of the Credit Bid APS · scope: parcel · status: pending_approval