Ontario · Receivership (court-appointed)
Application Record Returnable October 21, 2026
Application / notice of application · 17 April 2024
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 filing8 verified · 1 withheld
- applicantAFC MORTGAGE ADMINISTRATION INC.
- courtSUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file noCL-26-00000406-0000
- provinceONTARIO
- statutory basisSection 243(1) of the BIA, section 101 of the Courts of Justice Act
- secured creditorsnote: Amount is 'approximately $1,160,000' inclusive of principal, outstanding interest, costs and expenses (including legal and professional fees) as at August 17, 2026. $1,400,000 is the registered principal of the charge, not the balance. Demand made around August 6, 2026 (10 business days); BIA s.244 notice issued around August 20, 2026; no payment made. Guarantor Helen Roman-Barber filed an assignment in bankruptcy on or about April 9, 2026. · page: 9 · as of: 2026-08-17 · amount: 1160000 · debtor: Romandale Farms Limited · creditor: AFC Mortgage Administration Inc. (Second Mortgage / Loan, Instrument YR3817141) · currency: CAD · security: Second-ranking charge YR3817141 (registered 2025-07-18; stated principal $1,400,000), general assignment of rents YR3817142, and guarantee from Helen Roman-Barber dated July 17, 2025. Interest at the higher of 14.8% and TD Prime + 6.04% per annum. Matured July 31, 2026.
- secured creditorsnote: $224,950 is the registered principal; the outstanding balance is not stated. Applicant states it was registered without the consent or notification required under the First and Second Mortgages. · page: 10 · as of: 2026-05-14 · debtor: Romandale Farms Limited · creditor: Paul F. Rooney Professional Corporation (Rooney Mortgage, Instrument YR3923318) · currency: CAD · security: Subordinate charge on 3975 Elgin Mills Road East, registered 2026-05-14 in the principal amount of $224,950; given as collateral security for indebtedness under an Acknowledgement of Indebtedness dated May 11, 2026.
- secured creditorsnote: Amount is the affidavit's approximation ('approximately $4,550,000.00'); the Notice of Application says 'in excess of $4,500,000.00' (a floor, not a precise balance). 6 months in arrears as of September 1, 2026. No enforcement steps taken under the First Mortgage. Registered principal figures are ceilings/registration amounts, not balances. Interest rate stepped up under amended terms (e.g. 14.70% / Prime + 8.50% in the 2024 amendment). · page: 20 · as of: 2026-09-01 · amount: 4550000 · debtor: Romandale Farms Limited · creditor: AFC Mortgage Administration Inc. (First Mortgage, Instrument YR3670353, as amended; acquired from Vector Financial Services Limited by Transfer of Charge registered 2025-01-29) · currency: CAD · security: First-ranking charge on 3975 Elgin Mills Road East, Markham (just under 90 acres). Registered principal originally $6,000,000 (YR3670353), increased to $7,325,000 by 2024 amending agreement; the application describes the principal as $14,500,000 following successive commitment-letter amendments. Principal had been paid down to $4,000,000 when AFC acquired the charge. Matured July 10, 2026. Also general assignment of rents (YR3670354, YR3806614). Guarantor: Helen Roman-Barber (an undischarged bankrupt).
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.