Ontario · Receivership (court-appointed)
First Report of the Receiver - dated July 10, 2025
Court officer report · 10 July 2025
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: Referred to elsewhere in the report as approximately $29.7 million in secured indebtedness (page 9); no second mortgage exists (table shows 'N/A'). · page: 6 · as of: creditor table provided by Debtors' counsel following the June 18, 2025 call · amount: 29772971.76 · debtor: 2250310 Ontario Inc. · creditor: Fiera (Fiera Canadian Real Estate Debt Fund GP Inc. / Fiera FP Real Estate Financing Fund, L.P.) · currency: CAD · security: First mortgage on 270 Sheppard Avenue West (Loan #101072)
- secured creditorsnote: Deemed trust claim (source deduction/payroll arrears). CRA had not assigned an agent to P&H and could not confirm updated arrears for this entity (page 8). · page: 6 · as of: creditor table provided by Debtors' counsel following the June 18, 2025 call · amount: 214287.84 · debtor: P&H Development Holdings Inc. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Total as stated in report text (para 16). Comprised of: 270 Sheppard Ave W (225) $444,643.13; 5 Addington Ave (P&H) $11,936.03; 271 Sheppard Ave W (225, during lease term) $124,133.78. · page: 6 · as of: creditor table provided by Debtors' counsel following the June 18, 2025 call · amount: 580712.94 · debtor: 2250310 Ontario Inc. and P&H Development Holdings Inc. · creditor: City of Toronto · currency: CAD · security: Statutory municipal property tax arrears (lien)
- secured creditorsnote: Deemed trust claim (source deduction/payroll arrears), per CRA advice to Receiver, comprised of 2023 - $402,596.16 and 2024 - $153,696.65, plus continuing interest and penalties. Exceeds the $394,387.31 payroll figure shown in the June 2025 creditor table (derived from He's Affidavit) by approximately $155,000; the table figure is the earlier approximation. · page: 8 · as of: 2025-07-08 · amount: 556292.77 · debtor: 2250310 Ontario Inc. · creditor: Canada Revenue Agency · currency: CAD