Ontario · Receivership (court-appointed)
Second Report of the Receiver dated August 4, 2026
Court officer report · 4 August 2026
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What we verified from this filing9 verified
- secured creditorsnote: First mortgage payout statement amount, inclusive of mortgage principal and interest ($1,290,480.62, 'NBC Principal Indebtedness') and legal fees ($189,402.43, 'NBC Legal Fees') through July 31, 2026; per diem interest thereafter $175.69 ($151.07 principal + $24.62 legal fees). GLG opinion confirms valid, enforceable first-ranking charge. Also sole mortgagee/secured creditor of King Property, consulted on sale process. · page: 13 · as of: 2026-08-15 · amount: 1479883.05 · debtor: Thomas Dylan Suitor · creditor: National Bank of Canada · currency: CAD · security: Charge/mortgage against King Property registered 2024/05/29, registered principal $3,200,000 (King PIN Report)
- secured creditorsnote: Registered charge amount (registration ceiling), not a balance; PIN Report as of 2026/08/04 · page: 84 · as of: 2024-05-29 · debtor: Thomas Dylan Suitor · creditor: National Bank of Canada · currency: CAD · security: Charge registered against King Property, 2024/05/29, registered amount $3,200,000
- closing confirmedscope: the Fassel Property · outcome: completed · effective: 2026-03-06 · date basis: stated · approval order date: 2026-02-24
- fee scheduleengagements: form: invoice_listing · rows: · money: total: quote: TDB #5 - to January 31, 2026 · amount: 8075 · approximate: false · period: end: 2026-01-31 · kind: unstated · quote: TDB #5 - to January 31, 2026 · approval: state: unstated · averages: · currency: · invoices: quote: TDB #5 - to January 31, 2026 · total: 8075 · period end: 2026-01-31 · firm text: TDB Restructuring Limited · firm quote: TDB Restructuring Limited was appointed as receiver (the ' Receiver ') · context quote: TDB Restructuring Limited was appointed as receiver (the ' Receiver '), without security, of the lands and premises municipally known as 775 King Road; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: · currency: · invoices: · firm text: Fred Tayar & Associates Professional Corp · firm quote: The Receiver retained the firm of Fred Tayar & Associates Professional Corp (' Tayar ') as the Receiver's independent legal counsel. · context quote: The Receiver retained the firm of Fred Tayar & Associates Professional Corp (' Tayar ') as the Receiver's independent legal counsel.; form: time_summary · rows: BL · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: · currency: · invoices: · firm text: Goldberg, Lamba & Ghannoum LLP · firm quote: I am a lawyer with the law firm of Goldberg, Lamba & Ghannoum LLP (' GLG '), real estate counsel to TDB Restructuring Limited in its capacity as the court-appointed Receiver and Manager (the ' Receiver ') · context quote: I am a lawyer with the law firm of Goldberg, Lamba & Ghannoum LLP (' GLG '), real estate counsel to TDB Restructuring Limited in its capacity as the court-appointed Receiver and Manager (the ' Receiver ')
- process resultsbids: 5 · note: 3 offers as of May 20, 1 resubmitted offer May 31, and 2 additional offers as of June 29 (including the Purchaser's) · as of: 2026-06-29
- purchaserHumam Alsamawi; price: note: purchase price redacted in Appendix C; unredacted APS filed under seal · sealed: true · scope: the Fassel Property · status: closed · name note: purchaser under the Fassel APS, closed transaction, unnamed · structure: real_property · name source: operative · relationship: unstated; price: sealed: false · scope: the King Property · status: not_completed · name note: offeror under the First APS, failed to close · structure: real_property · name source: operative · relationship: unstated; price: sealed: false · scope: the King Property · status: not_completed · name note: offeror under the Second APS, failed to close · structure: real_property · name source: operative · relationship: unstated
- recovery outcomeentries: basis: actual · quote: | Interim Distribution to Secured Creditor (Note 4) | $ | 454,681 | · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 454681 · amount high: 454681 · class label: Secured Creditor · interim final: interim · claims qualifier: unstated · stated on: 2026-08-04 · table missing:
- sale advisorRight at Home Realty, Brokerage
- sale outcometext: The King APS represents the highest and best available offer, remains conditional on Court approval · scope: parcel · status: pending_approval