Ontario · Receivership (court-appointed)
Second Report of the Receiver (Dated March 17, 2024)
Court officer report · 17 March 2024
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What we verified from this filing9 verified
- secured creditorsnote: Figure taken from Receiver's First Report secured-indebtedness summary; Receiver states balances not reconciled with creditors or independently verified and may differ from amounts in the Kapoor Affidavit due to effective date/accrued interest. RiverRock's mortgages on 10 St. Annes and Unit 5 (two of the five properties) were subsequently paid in full by Madeero on/around June 18, 2024, during the receivership (post-filing event). · page: 32 · as of: First Report · amount: 4090000 · debtor: Anacleto Silva (also known as Nick Silva) and/or Ala Martyniuk · creditor: RiverRock Mortgage Investment Corporation · currency: CAD · security: First-ranking mortgage charge over five (5) of the Properties
- secured creditorsnote: Unreconciled/unverified balance per First Report; may differ from Kapoor Affidavit due to effective date and accrued interest treatment. Related party: Madeero is the Applicant. · page: 32 · as of: First Report · amount: 2134595 · debtor: Anacleto Silva (also known as Nick Silva) and/or Ala Martyniuk · creditor: Madeero Lending Management Inc. and Wellington Hathshire Mortgage Investment Corporation · currency: CAD · security: Mortgage charge (rank unspecified in this line) over the Properties; Madeero is the Applicant in the proceedings
- secured creditorsnote: Separate line item from the Madeero/Wellington Hathshire joint entry; unreconciled/unverified balance per First Report. Related party: Madeero is the Applicant. · page: 32 · as of: First Report · amount: 2049554 · debtor: Anacleto Silva (also known as Nick Silva) and/or Ala Martyniuk · creditor: Madeero Lending Management Inc. · currency: CAD · security: Mortgage charge (rank unspecified in this line) over the Properties
- secured creditorsnote: Unreconciled/unverified balance per First Report; later restated as approx. $1.74 million owing as at April 8, 2025 per dated payout statement (post-filing update, not the pre-filing figure). · page: 32 · as of: First Report · amount: 1660946 · debtor: Anacleto Silva (also known as Nick Silva) · creditor: Carol Beamish · currency: CAD · security: First priority mortgage charge against the Bellevue Property
- secured creditorsnote: Unreconciled/unverified balance per First Report; may differ from Kapoor Affidavit due to effective date and accrued interest treatment. · page: 32 · as of: First Report · amount: 605696 · debtor: Anacleto Silva (also known as Nick Silva) and/or Ala Martyniuk · creditor: Olympia Trust Company · currency: CAD · security: Mortgage charge (property/rank not specified)
- secured creditorsnote: Individual private mortgagees; also appears as a Geoffrey Property encumbrance of $215,000 (page 16 of First Report). Unreconciled/unverified balance per First Report. · page: 32 · as of: First Report · amount: 215000 · debtor: Ala Martyniuk (Geoffrey Property) · creditor: Amanda Stanley, Anthony Starcevic and Caesar Ortepi · currency: CAD · security: Mortgage charge over the Geoffrey Property
- secured creditorsnote: Unreconciled/unverified balance per First Report. · page: 32 · as of: First Report · amount: 37841 · debtor: Anacleto Silva (also known as Nick Silva) · creditor: Toronto Standard Condominium Corp. No. 1994 · currency: CAD · security: Condominium lien
- secured creditorsnote: Blanket all-property/movables registrant; no balance amount stated in the document. Alpha issued a Notice of Intention to Enforce Security under s.244(1) BIA on July 8, 2022 (pre-filing). On March 28, 2024, Alpha's counsel advised it did not wish to remove the GSA Assets and they could be released to the Respondents. · page: 39 · as of: 2022-07-08 (Notice of Intention to Enforce Security) · debtor: Anacleto Silva (also known as Nick Silva) and/or Ala Martyniuk · creditor: Alpha · currency: CAD · security: First priority General Security Agreement (GSA) over furniture, appliances, personal property, fixtures, rents and other property (GSA Assets)
- recovery outcomeentries: basis: estimated · quote: As a result, the Receiver will be in a position to distribute the remaining funds to Madeero (the ' Final Distribution '), subject to a Holdback, of approximately $50,000. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Madeero Lending Management Inc. and Wellington Hathshire Mortgage Investment Corporation · creditor name: Madeero Lending Management Inc. and Wellington Hathshire Mortgage Investment Corporation · interim final: final · conditional on: subject to a Holdback of approximately $50,000 · claims qualifier: unstated; basis: unstated · quote: an Order (the ' Distribution Order ') authorizing and approving a distribution to Ms. Carol Beamish (' Beamish ') from the sales proceeds generated from the closing of the Bellevue Transaction with the Purchaser (the ' Sales Proceeds '), to repay amounts owing by the Respondent · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Beamish · creditor name: Carol Beamish · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Proposed Interim Distribution will be the remainder of the proceeds, less a holdback of $50,000 to be retained by the Receiver to cover any costs of administering the estate, from the Transaction after paying Commissions and Municipal Taxes. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Madeero · creditor name: Madeero · interim final: interim · conditional on: less a holdback of $50,000 to be retained by the Receiver to cover any costs of administering the estate · claims qualifier: unstated · stated on: 2025-03-17 · table missing: