Ontario · Receivership (court-appointed)
Motion Record of the Receiver - dated August 24, 2026 returnable September 9, 2026
Application / notice of application · 24 August 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing6 verified
- secured creditorsnote: Payout statement balance with interest accrued to July 31, 2026; principal balance stated separately as $28,000,000.00 (registered/principal amount, not outstanding balance); receiver proposing distribution to Central 1 up to maximum of indebtedness owing · page: 13 · as of: 2026-07-31 · amount: 42206830.4 · debtor: 2139770 Ontario Inc. · creditor: Central 1 Credit Union · currency: CAD · security: First mortgage (Instrument No. OC1666971, $28,000,000 registered principal) and Notice of Assignment of Rents (Instrument No. OC1666972) over 626 Prado Private, Ottawa
- unsecured creditorsnote: Receiver's counsel review concludes claims would rank as unsecured, not in priority to Senior Secured Lender · page: 31 · basis: Deposits identified by Receiver as being owed to past residents, co-mingled and not held in trust · amount: 206000 · debtor: 2139770 Ontario Inc. · creditor: Ravines Senior residents (pre-receivership resident deposits) · currency: CAD
- unsecured creditorspage: 31 · as of: 2025-04-03 · basis: Unsecured proof of claim filed by CRA · amount: 223.24 · debtor: 2139770 Ontario Inc. · creditor: Canada Revenue Agency (RP0001 payroll source deduction account) · currency: CAD
- unsecured creditorsnote: Receiver reviewing with CRA whether amount represents deemed trust (HST collected); if deemed trust, Receiver's view is it would not rank in priority to Central 1's mortgage security · page: 32 · basis: Outstanding balance reported by Receiver relating to pre-receivership periods (November 2024 and December 2025) · amount: 1800 · debtor: 2139770 Ontario Inc. · creditor: Canada Revenue Agency (HST account) · currency: CAD
- unsecured creditorspage: 32 · basis: Unsecured proof of claim filed by CRA · amount: 429592 · debtor: 2139770 Ontario Inc. · creditor: Canada Revenue Agency (corporate income tax account) · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Central 1 is owed in excess of the gross sale proceeds (even prior to consideration of real estate commissions, closing costs, outstanding fees, etc.). Accordingly, prior to consideration of any other potential recoveries, Central 1 will incur a shortfall on its outstanding indebtedness relative to the Net Sale Proceeds. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Central 1 · creditor name: Central 1 Credit Union · interim final: unstated · claims qualifier: unstated · table missing: