Ontario · Receivership (court-appointed)
Motion Record, returnable September 17, 2026
Application / notice of application · 17 September 2026
What we verified from this filing6 verified
- secured creditorsnote: ICI Mortgage Indebtedness per ICI Payout Statement (Appendix D): loan principal $7,646,706.05, accrued interest $2,967,201.29, other fees/charges $643,271.85 (excludes legal fees/costs from Aug 1, 2026 onward). ICI is mortgage servicer; Equitable Bank funded the loan as the actual Lender. Independent security opinion from Reconstruct LLP confirms validity/enforceability but not quantum or priority. · page: 15 · as of: 2026-08-31 · amount: 11257179.19 · debtor: CB 11 South Woodbridge Corp. · creditor: Canada ICI Capital Corporation (ICI) · currency: CAD · security: First mortgage over 7397 Islington Avenue, Vaughan (ICI Mortgage, registered principal $7.5 million); PPSA general security agreement over all assets and undertaking
- secured creditorsnote: Hui Mortgage subordinated and postponed to the ICI Mortgage pursuant to a Subordination and Standstill Agreement dated April 15, 2021. No independent security review performed by Receiver. · page: 15 · as of: 2020-04-01 · debtor: CB 11 South Woodbridge Corp. · creditor: Dr. Fred Hui · currency: CAD · security: Mortgage registered April 1, 2020 in the amount of $1.5 million (registered principal, not a balance) over the Property
- secured creditorsnote: Registered Lien Claimant; confirmed not seeking priority over the ICI Mortgage; validity of lien not further determined by Receiver. · page: 15 · as of: 2022-01-20 · amount: 92407 · debtor: CB 11 South Woodbridge Corp. · creditor: HK United Construction Ltd. · currency: CAD · security: Construction lien registered against the Property
- secured creditorsnote: Registered Lien Claimant; also guarantor of ICI Mortgage (related party - Michael Smith is sole officer/director/shareholder of Capital Build and also director/50% shareholder of CB 11). Bankruptcy Trustee of Capital Build confirmed not seeking priority over ICI Mortgage. · page: 15 · as of: 2022-05-03 · amount: 722070 · debtor: CB 11 South Woodbridge Corp. · creditor: Capital Build Construction Management Corp. · currency: CAD · security: Construction lien registered against the Property
- secured creditorsnote: Registered Lien Claimant; confirmed not seeking priority over the ICI Mortgage. · page: 15 · as of: 2022-08-03 · amount: 108505.6 · debtor: CB 11 South Woodbridge Corp. · creditor: KNYMH Incorporated · currency: CAD · security: Construction lien registered against the Property
- unsecured creditorsnote: CRA confirmed there is no deemed trust in respect of HST; claim is ordinary unsecured, not deemed trust. Receiver has not audited/verified accuracy of the amount claimed. · page: 18 · as of: 2025-01-20 · basis: Letter from CRA to the Receiver notifying outstanding amounts owing in connection with its unsecured HST claim, stated as 'approximately $27,400' · amount: 27400 · debtor: CB 11 South Woodbridge Corp. · creditor: Canada Revenue Agency (CRA) · currency: CAD