Ontario · Receivership (court-appointed)
First Report of the Receiver dated February 17, 2026
Court officer report · 17 February 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 filing10 verified
- disbursementsnote: Resulting in an excess of receipts over disbursements of $2,066.55. · since: September 19, 2025 · amount: 51912.53 · currency: CAD
- operational summaryThe receivership covers two real properties; the Fassel Property (vacant rental property) has been marketed and sold subject to court approval, while the King Property (the Debtor's principal residence) has not yet been marketed pending the outcome of the Debtor's bankruptcy appeal.
- process resultsbids: 1 · note: Receiver requested listing proposals from four real estate brokers; 60 prospective purchasers toured the Fassel Property; one offer received. · as of: 2026-01-29 · solicited: 4
- professional feesnote: Includes HST of $5,897.45; fees and disbursements were $45,365.00 before tax. Counsel Tayar's accounts for August 6, 2025 to January 31, 2026 totaled $12,585.38 (incl. HST $1,447.88); counsel GLG's accounts for September 16, 2025 to January 22, 2026 totaled $6,125.21 (incl. HST $655.85). · party: Receiver (TDB Restructuring Limited) · amount: 51262.45 · period: September 11, 2025 to January 31, 2026 · currency: CAD
- purchaserprice: note: Purchase price redacted from public copy of APS; unredacted copy to be sealed. · sealed: true · currency: CAD · scope: the Fassel Property · status: proposed · name note: referred to only as 'the Purchaser', unnamed in unredacted text provided · structure: real_property · name source: operative · relationship: unstated
- receipts cumulativenote: Includes advances made by NBC totaling $50,000 pursuant to the Receiver's Certificate. · since: September 19, 2025 · amount: 53977.08 · currency: CAD
- report date17 February 2026
- report noFirst Report of the Receiver
- sale advisorRight at Home Realty, Brokerage
- sale outcometext: Receiver entered into APS for the Fassel Property following marketing process, recommends Court approval; sale has not yet closed. · scope: parcel · status: pending_approval