Ontario · Receivership (court-appointed)
Brief of Reports dated September 29, 2026
Application / notice of application · 29 September 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 filing14 verified
- secured creditorsnote: Approximate amount, before fees, costs and interest, which continue to accrue. Lenders are UOB and Laurentian Bank of Canada. Facility matured January 31, 2026. Debenture Charge ranks ahead of all other charges on title, subject to potential priority amounts incl. registrations and lien claims that may have priority (e.g. unpaid holdback). Security validity/enforceability in Ontario confirmed by written opinion of independent counsel Recon (subject to typical qualifications and assumptions). · page: 10 · as of: 2026-06-08 · amount: 21123337 · debtor: Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp. · creditor: United Overseas Bank Limited (as Agent for the Construction Lenders) - Term Construction Facility · currency: CAD · security: Demand Debenture dated May 10, 2022, registered as Instrument No. AT6044624 (Debenture Charge): first-ranking fixed and specific mortgage and charge over the Real Property, security interest in present and after-acquired personal property relating to the Real Property, and assignment of agreements relating to the Real Property and the Business. Facility limit (not a balance): up to $79,916,000.
- secured creditorsnote: Approximate amount, before fees, costs and interest, which continue to accrue. Facility matured February 28, 2026. · page: 10 · as of: 2026-06-08 · amount: 8913611 · debtor: Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp. · creditor: United Overseas Bank Limited (as Mezzanine Lender) - Mezzanine Facility · currency: CAD · security: Secured by the same Demand Debenture dated May 10, 2022 (Instrument No. AT6044624). Facility limit (not a balance): up to $9,050,000.
- secured creditorsnote: Approximate amount, before fees, costs and interest, which continue to accrue. Facility matured January 31, 2026. · page: 10 · as of: 2026-06-08 · amount: 605737 · debtor: Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp. · creditor: United Overseas Bank Limited - LC Facility (standby letter of credit/letter of guarantee) · currency: CAD · security: Secured by the same Demand Debenture dated May 10, 2022 (Instrument No. AT6044624). Facility limit (not a balance): up to $2,500,000.
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. · page: 16 · as of: 2026-07-04 · amount: 615780 · creditor: Nekison Engineering - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined; may form part of Wilkinson claim. · page: 16 · as of: 2026-07-04 · amount: 541335 · creditor: Mazzad Drywall Inc. - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. · page: 16 · as of: 2026-07-04 · amount: 198958 · creditor: TSCC#3159 and FirstService Residential - lien · currency: CAD · security: Lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. · page: 16 · as of: 2026-07-04 · amount: 158332 · creditor: Trinity Landscaping Ltd. - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. · page: 16 · as of: 2026-07-04 · amount: 145051 · creditor: Anax Inc. - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. · page: 16 · as of: 2026-07-04 · amount: 108081 · creditor: Ultimate Fire Protection Ltd. - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. · page: 16 · as of: 2026-07-04 · amount: 66637 · creditor: Design Elementz Ltd. - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. The Receiver's table lists total registered liens of $11,357,528. · page: 16 · as of: 2026-07-04 · amount: 62835 · creditor: Westview - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. · page: 16 · as of: 2026-07-04 · amount: 163433 · creditor: Frendel Kitchens Ltd. - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity, extent and priority vis-à-vis the Lenders not yet determined (counsel to the Receiver to review). Certain other lien claimants may form part of this claim as general contractor. · page: 16 · as of: 2026-07-04 · amount: 8401086 · creditor: Wilkinson Manderley Inc. (general contractor) - construction lien · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Registered lien amount as of July 4, 2026. Validity and priority not yet determined. · page: 16 · as of: 2026-07-04 · amount: 896000 · creditor: The Brick Warehouse LP - construction lien · currency: CAD · security: Construction lien registered against the Real Property