Ontario · Receivership (court-appointed)
Sixth Report of the Receiver dated August 31, 2026
Court officer report · 31 August 2026
What we verified from this filing8 verified
- secured creditorsnote: Approximate figure stated in prose; related party in that Foremost is the applicant/funder of proceedings, not a related-party in the corporate sense but is the sole DIP-type funder · page: 4 · as of: date of this Report (August 31, 2026) · amount: 1600000 · debtor: Debtors (Barakaa, Lerrato, 214) · creditor: Foremost Mortgage Holding Corporation (Receiver's Borrowing Charge) · currency: CAD · security: Receiver's Borrowing Charge, ranking senior to all other security interests registered against the Receivership Assets, except the Receiver's Charge
- secured creditorsnote: Subordinate to Receiver's Borrowing Charge; excludes accrued interest and other costs · page: 6 · as of: date of this Report (August 31, 2026) · amount: 1500000 · debtor: 214 (2145499 Ontario Inc.) / the Project · creditor: Tripta Dhingra · currency: CAD · security: Secured charge registered against the Project; principal amount per table (in $000)
- secured creditorsnote: First-ranking mortgages on Receivership Assets. In addition, Foremost is owed approx. $1.6 million under the Receiver's Borrowing Charge (senior ranking charge, second only to Receiver's Charge), and approx. $2.2 million accrued interest on its loan to 214 as advised by Foremost. Total owed to Foremost including Receiver's Borrowing Charge amounts approx. $7.8 million as of date of Report, before interest, fees and other costs which continue to accrue. Figures do not include accrued interest, professional fees, property tax payments and other costs which continue to accrue. · page: 6 · as of: date of this Report (August 31, 2026) · amount: 6185000 · debtor: 214 (2145499 Ontario Inc.) / the Project · creditor: Foremost Mortgage Holding Corporation · currency: CAD · security: Mortgage(s) registered against the Project; principal amount per secured charges table (in $000)
- secured creditorsnote: Joint secured charge holders; subordinate to Receiver's Borrowing Charge; excludes accrued interest and other costs · page: 6 · as of: date of this Report (August 31, 2026) · amount: 1000000 · debtor: 214 (2145499 Ontario Inc.) / the Project · creditor: BIP Management Inc. and Galidan Inc. · currency: CAD · security: Secured charge registered against the Project; principal amount per table (in $000)
- secured creditorsnote: DISCHARGED - ordered to be vacated pursuant to a decision of Mr. Justice Koehnen dated March 27, 2025; excluded from the secured charges table · page: 6 · debtor: 214 (2145499 Ontario Inc.) / the Project · creditor: Sanjive Joshi, Xpert Credit Control Solutions Inc. and Xpert Law Inc. · currency: CAD · security: Mortgages in the amount of $5 million registered on title at the outset of proceedings
- secured creditorsnote: Subordinate to Receiver's Borrowing Charge; excludes accrued interest and other costs · page: 6 · as of: date of this Report (August 31, 2026) · amount: 2000000 · debtor: 214 (2145499 Ontario Inc.) / the Project · creditor: BIP Management Inc. · currency: CAD · security: Secured charge registered against the Project; principal amount per table (in $000)
- sale advisorForest Hill Real Estate Inc.
- sale outcometext: summarize the proposed sale process for the Doric Units · scope: parcel · status: process_approved