Ontario · Receivership (court-appointed)
Second Report of the Receiver dated September 28, 2026
Court officer report · 28 September 2026
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 filing22 verified
- secured creditorsnote: RBC Secured Debt per Lender, inclusive of accrued interest and fees, still accruing per diem: Onyxa Canada Indebtedness approx. $5,080,822; Holding Indebtedness approx. $5,116,347; Cost of Enforcement approx. $246,121. Earlier figure at January 5, 2026 (First Report): Onyxa Canada $4,896,566 and Holding $4,957,213, exclusive of interest and enforcement costs (approx. $47,700 legal fees plus $50,000 forbearance fee). Lender holds a GIC of approx. $299,761 as collateral for credit card obligations. Security Opinion (Chaitons LLP) confirms security is valid, enforceable and perfected, subject to qualifications. · page: 15 · as of: 2026-09-22 · amount: 10443290 · debtor: Onyxa Canada Inc. and Onyxa Holding Group Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreements from each debtor over substantially all present and after-acquired personal property; cross-guarantees; mortgage and general assignment of rents on the Toryork Property (Holding); forbearance-era limited personal guarantees and second-ranking mortgage on the principal residence of Mr. Jabbar-Poor; GIC held as collateral for corporate credit card obligations
- unsecured creditorsnote: Treated conservatively by Receiver as a potential priority claim (deemed trust class). No CRA proof of claim and no CRA trust account examination for Holding. A CRA lien registered Feb 25, 2026 against the Toryork Property (instrument AT7014100) does not rank ahead of RBC's security per Receiver. · page: 17 · as of: Receivership Date (2026-03-16) · basis: Amount reflected in Holding's books and records as owing for pre-filing HST collected but not remitted (Feb 1, 2024 to Jan 31, 2025 reporting period) · amount: 40687 · debtor: Onyxa Holding Group Inc. · creditor: Canada Revenue Agency (Receiver General) - Holding Pre-Filing HST · currency: CAD
- unsecured creditorsnote: Potential priority claim. No proof of claim from CRA. Second Report states Onyxa Canada was deemed bankrupt on or around April 1, 2026, which reversed any potential priority for this HST claim. · page: 17 · as of: Receivership Date (2026-03-16) · basis: Amount reflected in Onyxa Canada's books and records as owing for pre-filing HST collected but not remitted · amount: 939381 · debtor: Onyxa Canada Inc. · creditor: Canada Revenue Agency (Receiver General) - Onyxa Canada Pre-Filing HST · currency: CAD
- unsecured creditorsnote: Preferred/priority claims: approx. $4,000 could be subject to priority under s. 81.4 of the BIA. The First Report stated approx. $3,175 owing, of which approx. $2,000 could have priority; the Second Report figure is the later one. · page: 17 · as of: Receivership Date (2026-03-16) · basis: Accrued wages and/or vacation pay liabilities per the Debtors' books · amount: 7102 · debtor: Onyxa Canada Inc. · creditor: Former employees of Onyxa Canada - accrued wages and vacation pay · currency: CAD
- unsecured creditorsnote: Potential priority claim; the employee portion of source deductions would form a deemed trust. Receiver had requested access to the CRA accounts to verify status. · page: 17 · as of: Receivership Date (2026-03-16) · basis: Pre-receivership payroll source deductions, 2025 reporting period · amount: 17990 · debtor: Onyxa Canada Inc. · creditor: Canada Revenue Agency - payroll source deductions · currency: CAD
- financial positionnote: Liabilities table: secured creditors $9,853,780 (RBC; other PPSA registrants unknown); potential priority claims $930,521 (Receiver General $928,521; various employees $2,000); unsecured creditors $3,115,503. Inventory carried at approx. $4.4 million book value, which auctioneers viewed as significantly overstated relative to realizable value. No asset total stated. · page: 53 · as at: 2026-03-16 · basis: Debtors' books and records as at the Receivership Date, as summarized in the First Report (appended to the Second Report); unaudited, not verified by the Receiver · scope: Combined liabilities of Onyxa Canada Inc. and Onyxa Holding Group Inc. · currency: CAD · total liabilities: 13899805
- secured creditorsnote: Value of claim, if any, unknown · page: 53 · as of: 2026-01-18 · debtor: Onyxa Canada Inc. / Onyxa Holding Group Inc. · creditor: HSBC Bank Canada · currency: CAD · security: Registered PPSA security interest
- secured creditorsnote: Value of claim, if any, unknown · page: 53 · as of: 2026-01-18 · debtor: Onyxa Canada Inc. / Onyxa Holding Group Inc. · creditor: CWB National Leasing Inc. · currency: CAD · security: Registered PPSA security interest
- secured creditorsnote: Value of claim, if any, unknown · page: 53 · as of: 2026-01-18 · debtor: Onyxa Canada Inc. / Onyxa Holding Group Inc. · creditor: Pine View Auto Sales Inc. · currency: CAD · security: Registered PPSA security interest
- secured creditorsnote: Value of claim, if any, unknown · page: 53 · as of: 2026-01-18 · debtor: Onyxa Canada Inc. / Onyxa Holding Group Inc. · creditor: JNS Auto Sales Ltd. · currency: CAD · security: Registered PPSA security interest
- secured creditorsnote: Value of claim, if any, unknown · page: 53 · as of: 2026-01-18 · debtor: Onyxa Canada Inc. / Onyxa Holding Group Inc. · creditor: Nissan Canada Inc. · currency: CAD · security: Registered PPSA security interest
- secured creditorsnote: Value of claim unknown. Receiver entered into a settlement and mutual release agreement; equipment subject to its security was released to it with full and final releases. · page: 55 · as of: 2026-01-18 · debtor: Onyxa Canada Inc. · creditor: Meridian Onecap Credit Corp. · currency: CAD · security: Registered PPSA security interest (financed equipment and leased vehicles)
- secured creditorsnote: Value of claim unknown. Receiver entered into a settlement and mutual release agreement; equipment subject to its security was released to it with full and final releases. · page: 55 · as of: 2026-01-18 · debtor: Onyxa Canada Inc. · creditor: Coast Capital Equipment Finance Ltd. · currency: CAD · security: Registered PPSA security interest (financed equipment and leased vehicles)
- unsecured creditorsnote: Document names no individual unsecured creditors; aggregate only. · page: 57 · as of: Receivership Date (2026-03-16) · basis: Receiver's understanding based on the Debtors' books and records (unsecured trade payables) · amount: 3115503 · debtor: Onyxa Canada Inc. · creditor: Unsecured trade creditors of Onyxa Canada Inc. (aggregate as reported) · currency: CAD
- operational summaryThe receiver has conducted an online auction of Onyxa Canada's inventory and is coordinating removal of purchased and unsold items and site clean-up. It has also run a sale process for the Toryork Property, resulting in a proposed court-approved sale. Net proceeds, after a reserve, are proposed to be distributed to RBC.
- process resultsnote: Email campaign on August 5, 2026 sent marketing packages to approximately 858 potential buyers; direct outreach to approximately 103 potential buyers; three auctioneer proposals received for the inventory · solicited: 858
- purchaserJands Investments Inc. for a corporation to be incorporated
- recovery outcomeentries: basis: estimated · quote: Based on the Receiver's current estimates, the Receiver anticipates that the net proceeds of the Transaction, together with the GIC, will be sufficient to satisfy the RBC Secured Debt in full, subject to the establishment of the Reserve and the final determination of the amounts owing to RBC at the time of completion of the Transaction. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: RBC Secured Debt · creditor name: Royal Bank of Canada · interim final: unstated · conditional on: subject to the establishment of the Reserve and the final determination of the amounts owing to RBC at the time of completion of the Transaction · claims qualifier: unstated · stated on: 2026-09-28 · table missing:
- report date28 September 2026
- report noSecond Report
- sale advisorAvison Young Commercial Real Estate Services, LP; McDougall Auctioneers Ltd.
- sale outcometext: Receiver seeks approval and vesting order for sale of the Toryork Property to Jands Investments Inc. (or a corporation to be incorporated) under the September 14, 2026 Sale Agreement; inventory sold at online auction on August 31, 2026 · scope: parcel · status: pending_approval