Ontario · CCAA
Motion Record of DIP Lender (re Appointment of Receiver)
Application / notice of application · 17 August 2026
What we verified from this filing12 verified
- secured creditorsnote: Arose from investment/stalking horse transaction under Investment Agreement · page: 7 · as of: August 17, 2026 (motion) · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: 1000861289 Ontario Inc. (DIP Lender) · currency: CAD · security: DIP Charge; DIP Facility authorized in maximum amount of $2,025,000 plus interest, fees and costs (per DIP Term Sheet dated March 27, 2025)
- secured creditorsnote: DIP lender; quantum/priority disputed by certain parties per para. 29 of Notice of Motion; formal demand and s.244 BIA notice delivered August 10, 2026 · page: 7 · as of: August 17, 2026 (motion) · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: 1000861289 Ontario Inc. (DIP Lender) · currency: CAD · security: General and Construction DIP Charge (Court-ordered charge over all Property); General and Construction DIP Facility authorized in maximum amount of $7,200,000 plus interest, fees and costs (originally $3,875,000 per May 6, 2024 term sheet, increased to $5,000,000, then $5,875,000, then $7,200,000)
- secured creditorsnote: Acquired participation interest via Participation Agreement; consented to relief sought on this motion · page: 8 · as of: May 2, 2025 (Participation Agreement) · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: Cosman Mortgage Holding Corp. · currency: CAD · security: Participation interest in General and Construction DIP Facility; senior tranche with priority over junior participation interests
- unsecured creditorsnote: Related party - Moldenhauer (affiant/DIP Lender principal) is also principal of Management Co.; Management Co. prepared to accept reduced amount of $678,000 as an accommodation to facilitate orderly transition; consists of $678,000 pre-filing preparation fees and $994,400 during-CCAA fees · page: 18 · as of: as of date of Management Co. Activity Report · basis: Affidavit of Michael Moldenhauer and Management Co. Activity Report (Exhibit E), stated as amount owed for post-filing management fees and expenses, inclusive of HST · amount: 1672400 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: 1000302127 Ontario Inc. (Management Co.) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors; aggregate post-filing trade/supplier/service-provider claims · page: 19 · as of: August 17, 2026 (motion) · basis: Affidavit of Michael Moldenhauer, para. 68 summary table of anticipated allocation · amount: 219432 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: Post-filing, unsecured third-party trade, supplier and service-provider obligations (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Related party (Moldenhauer is principal of both Management Co. and DIP Lender); reduced/accommodated amount accepted in lieu of full $1,672,400 claim · page: 19 · as of: August 17, 2026 (motion) · basis: Affidavit of Michael Moldenhauer, para. 68 summary table of anticipated allocation of receivership funding · amount: 678000 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: Post-filing unsecured Management Co. fees (accommodated amount) · currency: CAD
- unsecured creditorsnote: Estimate based on quotations from professionals; subject to adjustment as invoices reviewed/reconciled; forecast/estimated figure, not final · page: 19 · as of: 2026-02-28 · basis: Affidavit of Michael Moldenhauer, para. 68 summary table and footnote 1 · amount: 509000 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: Accrued professional fee obligations (aggregate as reported) · currency: CAD
- secured creditorsnote: Pre-filing mortgagee referenced in Construction DIP Term Sheet security provisions; amount not stated · page: 22 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: CS Capital Ltd. · currency: CAD · security: Existing mortgage, ranking ahead of Construction DIP Lender's Charge
- secured creditorsnote: Ranks third in most recent priority order · page: 23 · amount: 300000 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: Subordinated Administration Charge holders (unnamed) · currency: CAD · security: Subordinated Administration Charge
- secured creditorsnote: Indemnity charge for directors/officers; personal guarantors/indemnitees are individuals, names not stated · page: 23 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: Directors and officers of the Borrowers · currency: CAD · security: Directors' Charge, maximum aggregate principal up to $125,000
- secured creditorsnote: Court-ordered charge for fees/expenses of Monitor and counsel; ranks first in most recent priority order · page: 32 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: PricewaterhouseCoopers Inc. (Monitor) and counsel to Borrowers/Monitor · currency: CAD · security: Administration Charge, maximum aggregate principal amount up to $400,000 (increased from $350,000)
- secured creditorsnote: Ranks sixth (last) in most recent priority order · page: 33 · debtor: Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc. and 2813427 Ontario Inc. · creditor: Investment Agreement Charge holders (unnamed, incl. Professional Fees, Break Fee, Broker Commission) · currency: CAD · security: Investment Agreement Charge, in an amount no less than $525,000, securing Professional Fees, Break Fee and Broker Commission under Investment Agreement