Ontario · Receivership (court-appointed)
Motion Record of the Receiver dated September 30, 2026
Application / notice of application · 30 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 filing4 verified
- secured creditorsnote: Aggregate indebtedness under the DCC Loans stated as 'approximately $29.1 million', excluding certain legal and other third-party costs (approximate figure from the Receiver's report and notice of motion). Defaulted March 17, 2026; demand and BIA s.244 notices March 31, 2026; forbearance agreement then defaults. Per-loan balances are not stated on these pages. Patterson Inc. Loan $320,000 is a principal/commitment figure, not a stated balance. · page: 29 · as of: 2026-06-05 · amount: 29100000 · debtor: Flato Greens Inc., Dundalk Mixed Use Expansion One Inc., Patterson Street Holdings Inc., Flato North Village Dundalk Inc., Braemore Dundalk Two Inc., Melancthon Meadows Inc., 2760562 Ontario Inc. · creditor: Dorr Capital Corporation (DCC) · currency: CAD · security: Mortgages registered against the applicable Real Properties and general security agreements granted by the applicable Debtors; unlimited guarantees from Shakir Rehmatullah and Flato Management Inc. for various DCC Loans. Includes the Patterson Inc. Loan (principal $320,000; DCC Patterson Inc. Mortgage registered first position, Instrument No. SC1444591, plus GSA registered under PPSA).
- secured creditorsnote: Holds as bare trustee and mortgage custodian in respect of an investment in the applicable DCC loan; its position is part of the DCC Loans, not a separate amount. · page: 29 · debtor: Melancthon Meadows Inc. (516276 County Road 124 and 476259 Third Line, Melancthon) · creditor: Olympia Trust Company · currency: CAD · security: Co-mortgagee with DCC on the mortgage registered against 516276 County Road 124 and 476259 Third Line, Melancthon, Ontario
- secured creditorsnote: Post-filing receivership financing, not pre-filing debt: Receiver has borrowed and issued Receiver's Certificates totaling $500,000 (maximum authorized); advanced by DCC. Date is the report date. · page: 40 · as of: 2026-09-30 · amount: 500000 · creditor: Receiver's Borrowings Charge (TDB Restructuring Limited, Receiver's Certificates) · currency: CAD · security: Fixed and specific charge on the Real Properties, priority over all other security (including deemed trusts) except the Receiver's Charge and BIA ss.14.06(7), 81.4(4), 81.6(2) charges; ranks behind FLC Inc. on the 159 Lands.
- secured creditorsnote: Appointment Order paras 17A and 20A: Receiver's Charge and Receiver's Borrowings Charge rank behind FLC Inc.'s security on the 159 Lands (Borrowings Charge subject to limited exceptions for disbursements up to $2,500 each / $25,000 aggregate, or with FLC consent). Amount owing not stated. · page: 55 · debtor: Expansion Inc. (Dundalk Mixed Use Expansion One Inc.) · creditor: Farm Lending Canada Inc. (FLC Inc.) · currency: CAD · security: Mortgage and other security registered against property of Expansion Inc., including 159135 Highway 10, Melancthon (PIN 34150-0012, the '159 Lands')