Ontario · Receivership (court-appointed)
Motion Record of the Receiver dated September 18, 2026
Application / notice of application · 18 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 filing5 verified
- secured creditorsnote: Approximate balance per Duca's receivership application materials as of June 12, 2024 (prose approximation); interest and costs continuing to accrue. Also owed approximately $200,000 under a letter of credit facility as of the Filing Date (August 12, 2024) - separate entry below. As of the date of the Fourth Report (September 18, 2026), Duca's funding under the Receiver's Borrowing Charge totalled $13.5 million of the $16.15 million authorized under that charge (post-filing DIP financing, not pre-filing balance). · page: 18 · as of: 2024-06-12 · amount: 7500000 · debtor: 2460467 Ontario Inc. · creditor: DUCA Financial Services Credit Union Ltd. · currency: CAD · security: First-ranking mortgage on the Real Property; general security agreement dated December 6, 2022
- secured creditorsnote: Registered charge amount securing insurance coverage for Purchaser deposits; Purchasers paid deposits of $3.8 million, of which approximately $2.1 million was released from escrow prior to commencement of proceedings, balance held in trust with Owens Wright LLP · page: 19 · as of: date of the Receivership Order · amount: 7000000 · debtor: 2460467 Ontario Inc. · creditor: Westmount Guarantee Services Inc. (as agent for Aviva Insurance Company of Canada) · currency: CAD · security: Registered charge against the Real Property
- secured creditorsnote: Nine suppliers registered ten construction liens totalling over $1.2 million against the Real Property prior to these proceedings; individual creditor amounts not itemised on these pages · page: 19 · as of: date of the Receivership Order · debtor: 2460467 Ontario Inc. · creditor: PPSA equipment financiers (PMSI class) / Construction lien claimants (nine suppliers, ten liens) · currency: CAD · security: Construction liens registered against the Real Property
- secured creditorsnote: Approximate amount owed under letter of credit facility as of the Filing Date · page: 28 · as of: Filing Date (August 12, 2024) · amount: 200000 · debtor: 2460467 Ontario Inc. · creditor: DUCA Financial Services Credit Union Ltd. (letter of credit facility) · currency: CAD · security: Letter of credit facility
- secured creditorsnote: DISCHARGED - as part of the Completion Agreement, Fusioncorp agreed to release its lien of approximately $878,720 against the Real Property · page: 29 · as of: date of the Receivership Order · amount: 878720 · debtor: 2460467 Ontario Inc. · creditor: Fusioncorp Developments Inc. · currency: CAD · security: Construction lien against the Real Property