Ontario · Receivership (court-appointed)
Notice of Application – Applicant – Extend Financial Ltd. dated March 24, 2026
Application / notice of application · 24 March 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing7 verified
- courtONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- applicantExtend Financial Ltd.
- appointeeAlbert Gelman Inc.
- appointee rolereceiver
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- secured creditorsnote: Loan principal advanced was $18,000,000.00 (original advance, per Commitment Letter dated April 16, 2025 as amended June 4, 2025); outstanding balance as at demand letter dated February 25, 2026 is $19,313,298.01, together with per diem interest, costs, legal fees and other expenses continuing to accrue. Guarantors Patrick Gray Johnson and Mark David Johnson are individual personal guarantors (directors/officers of Borrower/133); 1338940 Ontario Limited is a related corporate guarantor and mortgagor. · page: 6 · as of: 2026-02-25 · amount: 19313298.01 · debtor: 1896841 Ontario Limited (Borrower); 1338940 Ontario Limited (as mortgagor of 1020 Property/guarantor) · creditor: Extend Financial Ltd. · currency: CAD · security: First-ranking mortgage over 950 Property (Instrument No. AT6831430); Notice of Assignment of Rents (General) against 950 Property (AT6831431); first-ranking mortgage over 1020 Property granted by 1338940 Ontario Limited (AT6831432); Notice of Assignment of Rents (General) against 1020 Property (AT6831433); PPSA registrations against Borrower (Reg. No. 20250602 1349 1793 7320) and against 1338940 Ontario Limited (Reg. No. 20250602 1350 1793 7321); Guarantee dated on or about May 16, 2025 from Patrick Gray Johnson, Mark David Johnson and 1338940 Ontario Limited
- counselRobins Appleby LLP