Ontario · Receivership (court-appointed)
Application Record of the Applicant - Cameron Stephens Mortgage Capital dated November 18, 2025 - Volume 2 of 2
Application / notice of application · 18 November 2025
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 filing4 verified
- secured creditorsnote: Registered principal amount per land registry/charge document, not a confirmed outstanding balance (no balance figure on these pages). Underlying commitment letter dated 2023-06-30 authorized Facility 1 (Tier I $16,500,000 + Tier II $4,500,000 = $21,000,000 total 1st mortgage land loan) and Facility 2 (LC cash-in-lieu, reduced from $3,500,000 to $2,847,340.96). Personal guarantees of Shahrokh Nourmansouri and Fereshteh Nourmansouri for 100% of loan amount (related individuals, not companies). · page: 95 · as of: 2023-09-20 · debtor: Whitby Meadows Inc. · creditor: Cameron Stephens Mortgage Capital Ltd. · currency: CAD · security: Registered charge/mortgage DR2265114, registered 2023-09-20, registered principal $29,400,000.00 CAD, on demand, against Whitby Meadows lands (PINs 16428-0542, -0783, -0785, -0789); replaced an earlier charge DR2248727 (same registered principal $29,400,000.00, registered 2023-07-25) which was discharged 2023-09-25
- secured creditorsnote: Registered principal amount, not a confirmed outstanding balance; appears to be an additional/second charge on the same lands as the $29,400,000 charge. · page: 95 · as of: 2024-03-20 · debtor: Whitby Meadows Inc. · creditor: Cameron Stephens Mortgage Capital Ltd. · currency: CAD · security: Registered charge/mortgage DR2304434, registered 2024-03-20, registered principal $14,300,000.00 CAD, against the same Whitby Meadows lands (PIN 16428-0785 and related PINs); currently registered (not shown as discharged) as of parcel register printout dated 2025-11-07
- secured creditorsnote: Registered principal, not a stated outstanding balance. Loan referable to Commitment Letter dated October 31, 2024 (Brooklin and Mamone Towns project), as amended. Personal guarantees of Shahrokh Nourmansouri and Fereshteh Nourmansouri. · page: 187 · as of: 2024-12-17 · debtor: Twinview Developments Inc. · creditor: Cameron Stephens Mortgage Capital Ltd. · currency: CAD · security: Registered charge/mortgage DR2370414, registered 2024-12-17, registered principal $15,600,000.00 CAD, on demand, against PIN 26569-1449 (Twinview lands); cross-collateralized under the charge's 'Payments' clause with a corresponding $15,600,000.00 charge against Brooklin Olde Towne Inc.'s PIN 16264-0963 (same loan)
- secured creditorsnote: Registered principal, not a stated outstanding balance. Loan referable to Commitment Letter dated October 31, 2024 (Brooklin and Mamone Towns project), as amended. Personal guarantees of Shahrokh Nourmansouri and Fereshteh Nourmansouri. · page: 191 · as of: 2024-12-17 · debtor: Brooklin Olde Towne Inc. · creditor: Cameron Stephens Mortgage Capital Ltd. · currency: CAD · security: Registered charge/mortgage DR2370413, registered 2024-12-17, registered principal $15,600,000.00 CAD, on demand, against PIN 16264-0963 (Brooklin lands); cross-collateralized under the charge's 'Payments' clause with a corresponding $15,600,000.00 charge against Twinview Developments Inc.'s PIN 26569-1449 (same loan)