Ontario · Receivership (court-appointed)
First Report of the Receiver dated October 1, 2025
Court officer report · 1 October 2025
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What we verified from this filing9 verified
- report date1 October 2025
- report noFirst Report
- operational summaryThe Receiver was appointed August 28, 2025 over 9089802 Canada Corp.'s principal asset, a 2.55-acre real property in Richmond Hill, Ontario, contemplated for development of 49 townhomes. No construction had commenced; 44 pre-construction agreements of purchase and sale had been entered into with home buyers who funded deposits totalling approximately $7.6 million, which had been fully utilized to advance pre-construction phases. The Receiver conducted a Request for Proposals process among three realtors and selected Jones Lang Lasalle (JLL) as listing agent, recommending Court approval of a phased Sale Process (Underwriting, Marketing and Offer Solicitation, Offer Review and Negotiations, and Closing) with a tentative 'Offer not Before Date' of November 13, 2025, potentially extending to approximately six months in total.
- operational summaryThe receivership's principal purpose is a court-supervised sale process for the company's real property; no construction had commenced and the receiver has selected a listing agent and recommended a sale process for the property.
- process resultsbids: 3 · note: proposals from realtors for listing agent role, not sale bids · as of: 2025-09-12
- report date1 October 2025
- report noFirst Report
- sale advisorJones Lang Lasalle Real Estate Services, Inc.
- sale outcometext: Receiver recommends that the Court approve the Sale Process, including the retention of JLL · scope: parcel · status: process_approved