Ontario · Receivership (court-appointed)
Motion Record – Dated October 19, 2026 – Returnable October 28, 2026
Application / notice of application · 19 October 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 filing12 verified
- secured creditorsnote: Amount is approximate payout (principal, interest and costs) per payout statement; interest and costs continue to accrue. Security opinion from receiver's counsel: valid and enforceable, subject to qualifications. EQB also advanced Receiver's Certificates of $81,000 (Receiver's Borrowing Charge, ranks ahead). Proceeds expected insufficient to repay. · page: 9 · as of: 2026-10-02 · amount: 1755872.39 · debtor: 15 Simcoe Street North Oshawa Ltd. · creditor: Equitable Bank (EQB) · currency: CAD · security: First-ranking charge over 15 Simcoe North, registered principal $1,267,500 (Instrument DR1942352, Nov 4, 2020) (registered principal, not the balance); General Security Agreement dated Oct 26, 2020; General Assignment of Rents (DR1942353); sole PPSA registrant
- secured creditorsnote: Amount is approximate payout (principal, interest and costs) per payout statement; interest and costs continue to accrue. Security opinion: valid and enforceable, subject to qualifications. EQB also advanced Receiver's Certificates of $72,000 (ranks ahead). Proceeds expected insufficient to repay. · page: 10 · as of: 2026-10-02 · amount: 2537663.55 · debtor: 38 Simcoe Street South Oshawa Ltd. · creditor: Equitable Bank (EQB) · currency: CAD · security: First-ranking charge over 38 Simcoe South, registered principal $2,100,000 (Instrument DR2220403, Mar 31, 2023) (registered principal, not the balance); General Security Agreement dated Mar 20, 2023; General Assignment of Rents (DR2220404); sole PPSA registrant
- secured creditorsnote: Amount is the lien amount as registered ($4,030). Validity under review by receiver's counsel; receiver proposes to hold back funds to address it. · page: 95 · amount: 4030 · debtor: 15 Simcoe Street North Oshawa Ltd. · creditor: Weekes Engineering Incorporated · currency: CAD · security: Construction lien (DR2287711, Dec 20, 2023; certificate DR2298131, Feb 16, 2024)
- secured creditorsnote: Balance not stated; subordinate to EQB. · page: 95 · debtor: 15 Simcoe Street North Oshawa Ltd. · creditor: Olympia Trust Company · currency: CAD · security: Subsequent charge, registered amount $200,000 (DR1999930, May 6, 2021; notice DR2044056) (registered amount, not a balance); postponement with 219 Group registered DR2224222
- secured creditorsnote: Balance not stated; subordinate to EQB; postponement agreement with Olympia registered. · page: 95 · debtor: 15 Simcoe Street North Oshawa Ltd. · creditor: 2198880 Ontario Limited, Active Buildings Inc., and George Bargis (219 Group) · currency: CAD · security: Subsequent charge, registered amount $947,500 (DR2224036, Apr 19, 2023; assignment of rents DR2224037) (registered amount, not a balance)
- secured creditorsnote: Balance not stated; subordinate to EQB. · page: 95 · debtor: 15 Simcoe Street North Oshawa Ltd. · creditor: Maxnat Capital Inc. · currency: CAD · security: Subsequent charge, registered amount $275,000 (DR2338347, Aug 8, 2024) (registered amount, not a balance)
- secured creditorsnote: Balance not stated; subordinate to EQB. · page: 96 · debtor: 38 Simcoe Street South Oshawa Ltd. · creditor: Dario Joseph Offidani, Suzanna Popp, George Bargis, Trumencas Ltd., Christine Offidani and Jasvir Sodhi (chargees; Offidani interest transferred to Caesar Ortepi and George Bargis) · currency: CAD · security: Subsequent charge, registered amount $900,000 (DR2223500, Apr 17, 2023; assignment of rents DR2223904; transfer of charge DR2344353) (registered amount, not a balance)
- secured creditorsnote: Balance not stated; subordinate to EQB. · page: 96 · debtor: 38 Simcoe Street South Oshawa Ltd. · creditor: Olympia Trust Company · currency: CAD · security: Subsequent charge, registered amount $155,000 (DR2228394, May 5, 2023; assignment of rents DR2228395) (registered amount, not a balance)
- secured creditorsnote: Balance not stated; subordinate to EQB. · page: 97 · debtor: 38 Simcoe Street South Oshawa Ltd. · creditor: Maxnat Capital Inc. and Olympia Trust Company · currency: CAD · security: Subsequent charge, registered amount $650,000 (DR2350954, Sept 27, 2024; assignment of rents DR2350961; transfer of charge DR2362324) (registered amount, not a balance)
- secured creditorsnote: Balance not stated; subordinate to EQB; postponement with Kevin Sit Investments Inc. registered WE1699291. · page: 97 · debtor: 2219137 Ontario Limited · creditor: Olympia Trust Company · currency: CAD · security: Subsequent charge, registered amount $400,000 (WE1585608, Feb 24, 2022) (registered amount, not a balance)
- secured creditorsnote: Outstanding balance not stated; no payout statement provided for 117 King East. EQB advanced Receiver's Certificates of $14,000 (ranks ahead). No sale approval sought for this property at this time. · page: 97 · debtor: 2219137 Ontario Limited · creditor: Equitable Bank (EQB) · currency: CAD · security: First-ranking charge over 117 King East, Hamilton, registered principal $1,950,000 (Instrument WE1578383, Jan 27, 2022) (registered principal, not the balance); General Security Agreement dated Jan 22, 2022; General Assignment of Rents (WE1578384); sole PPSA registrant
- secured creditorsnote: Balance not stated; subordinate to EQB. · page: 98 · debtor: 2219137 Ontario Limited · creditor: Kevin Sit Investments Inc. · currency: CAD · security: Subsequent charge, registered amount $800,000 (WE1699022, Sept 13, 2023; assignment of rents WE1699023) (registered amount, not a balance)