Ontario · Receivership (court-appointed)
First Report of the Receiver (for motion returnable April 2, 2026)
Court officer report · 2 April 2026
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What we verified from this filing4 verified
- secured creditorsnote: Statement of indebtedness figure excludes amounts advanced by Desjardins for funding of the receivership (Receiver's Certificates); plus accruing interest and costs; legal opinion from Receiver's counsel (Capstone) confirms validity, enforceability and first-ranking priority · page: 5 · as of: 2026-03-18 · amount: 471423.46 · debtor: 2416946 Ontario Ltd. · creditor: Caisse Desjardins Ontario Credit Union Inc. · currency: CAD · security: First-ranking charge over the Real Property (registered principal $435,000) plus an assignment of rents; PPSA financing statement registered against rents generated from the Real Property
- secured creditorsnote: Desjardins expected to suffer a shortfall on its mortgage, so no distribution is expected to Sagewise; Receiver's counsel has therefore not prepared a legal opinion on validity/enforceability of the Sagewise Charge · page: 5 · as of: 2026-03-20 · amount: 192510.06 · debtor: 2416946 Ontario Ltd. · creditor: Sagewise Capital Corporation · currency: CAD · security: Second-ranking charge over the Real Property; registered principal originally $60,000, subsequently increased to $120,000
- secured creditorsnote: Deemed-trust class quasi-governmental claim; Receiver made numerous attempts to confirm amounts owing by the Company but CRA has not provided confirmation (backlog in CRA's insolvency group); amount unknown/unconfirmed as of report date · page: 6 · debtor: 2416946 Ontario Ltd. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Floor amount - document states arrears are 'in excess of $25,000' as at the First Report date; components: $20,466.98 arrears as at June 5, 2025 plus further $4,485.97 owing on account of 2025; updated certificate still pending · page: 6 · as of: date of the First Report · amount: 25000 · debtor: 2416946 Ontario Ltd. · creditor: Town of Midland (property tax arrears) · currency: CAD · security: Statutory municipal property tax lien on the Real Property