Ontario · Receivership (court-appointed)
First Report of the Receiver dated May 20, 2026
Court officer report · 20 May 2026
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What we verified from this filing5 verified · 1 withheld
- secured creditorsnote: Amount is the outstanding balance stated in the Affidavit of Donald Ierfino sworn April 7, 2025 (pre-filing), as of March 31, 2025, with interest continuing to accrue at 11.50% per annum plus legal fees/disbursements. Obligations were also guaranteed by a personal Guarantor pursuant to a Guarantee dated July 20, 2023 (guarantor role only; individual not named on these pages). Loan matured Feb 1, 2024, extended to July 31, 2024; Debtor defaulted; Lender issued a s.244 BIA demand and NITES on July 25, 2024; forbearance to October 1, 2024 followed; Debtor remained in default leading to receivership appointment June 18, 2025. Post-filing payout statement (Apr 30, 2026) shows $31,835,978.88, which is a post-filing figure, not part of the pre-filing capital structure. · page: 44 · as of: 2025-03-31 · amount: 28450456.25 · debtor: Grmada Holdings Inc. · creditor: The Lender (syndicate of private mortgage lenders: Arend Corporation, Domenic Sericchi, Peter Adamo, Frank Adamo, Antonini Family Holdings Inc., 1453595 Ontario Inc., M. Antonini Holdings Inc., Carmen Antonini, 1599825 Ontario Limited, 2205633 Ontario Limited, Freemac Tile & Granite Inc., Fusion Terrazzo Systems Inc., Maple Corp. Investments, Tmac Design Inc., Fredy Rossi, Tyler Rossi, Connor Rossi, Meghan Rossi, Riverside Humber Corp, 2438747 Ontario Limited, Jacquie Strauss, and Anne Urbanek) · currency: CAD · security: First charge/mortgage registered July 21, 2023 as Charge No. AT6380353 against the Real Property (3742/3748/3750 Bathurst Street, Toronto) for the principal sum of $25,838,000.00 per Commitment Letter/First Charge (registered ceiling; PIN/parcel register in the First Report lists the same July 21, 2023 charge registrant amount as $25,383,000, a discrepancy in the record); General Security Agreement dated July 20, 2023 registered under the PPSA (Reg. No. 20230721 0913 1590 3006); General Assignment of Rents registered as Instrument No. AT6380354; also Transfer of Charge (July 28, 2023), Notice of Agreement (Feb 2, 2024), and an Amending Charge registered against title, per PIN Report and Ierfino Affidavit.
- fee scheduleengagements: form: prose · rows: · money: tax: label: taxes · quote: taxes of $7,181.70 · amount: 7181.7 · fees: quote: fees in the amount of $55,081.75 · amount: 55081.75 · approximate: false · disbursements: quote: disbursements of $233.00 · amount: 233 · period: end: 2026-03-31 · kind: invoice · label: the Period from June 24, 2025 to March 31, 2026 · quote: Foglers request that the Court approve its accounts for the Period from June 24, 2025 to March 31, 2026 for fees in the amount of $55,081.75, disbursements of $233.00 and taxes of $7,181.70, for services rendered and recorded to the 31st day of March, 2026. · start: 2025-06-24 · approval: quote: Foglers request that the Court approve its accounts for the Period from June 24, 2025 to March 31, 2026 · state: sought · averages: · currency: · invoices: · firm text: Fogler Rubinoff LLP · firm quote: The Receiver retained Fogler Rubinoff LLP (' Foglers ') as the Receiver's independent legal counsel. · context quote: The Receiver retained Fogler Rubinoff LLP (' Foglers ') as the Receiver's independent legal counsel.; form: prose · rows: · money: tax: label: taxes · quote: taxes of $1,572.94 · amount: 1572.94 · fees: quote: fees in the amount of $11,928.90 · amount: 11928.9 · approximate: false · disbursements: quote: disbursements of $170.65 · amount: 170.65 · period: end: 2026-05-19 · kind: invoice · label: the Period from April 1, 2026 to May 19, 2026 · quote: Foglers request that the Court approve its accounts for the Period from April 1, 2026 to May 19, 2026 for fees in the amount of $11,928.90, disbursements of $170.65 and taxes of $1,572.94, for services rendered and recorded to the 19th day of May, 2026. · start: 2026-04-01 · approval: quote: Foglers request that the Court approve its accounts for the Period from April 1, 2026 to May 19, 2026 · state: sought · averages: · currency: · invoices: · firm text: Fogler Rubinoff LLP · firm quote: The Receiver retained Fogler Rubinoff LLP (' Foglers ') as the Receiver's independent legal counsel. · context quote: The Receiver retained Fogler Rubinoff LLP (' Foglers ') as the Receiver's independent legal counsel.; form: report_table · rows: · money: approximate: false · period: end: 2026-05-19 · kind: cumulative · label: the period from June 24, 2025 to May 19, 2026 · quote: Fees and Disbursements Summary of Fogler, Rubinoff LLP for the period from June 24, 2025 to May 19, 2026 · start: 2025-06-24 · approval: state: unstated · averages: rate: 467.44 · quote: The average hourly rate charged during the Period was $467.44. · currency: · invoices: · firm text: Fogler, Rubinoff LLP · firm quote: The Receiver retained Fogler Rubinoff LLP (' Foglers ') as the Receiver's independent legal counsel. · context quote: Fees and Disbursements Summary of Fogler, Rubinoff LLP for the period from June 24, 2025 to May 19, 2026
- purchaserAuriga Homes Limited
- sale advisorIntercity Realty Inc.
- sale outcometext: Receiver recommends Court approval of the APS credit bid by the Lender for the Real Property · scope: whole_business · status: pending_approval
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.