Ontario · Receivership (court-appointed)
First Report of the Receiver dated July 8, 2026
Court officer report · 8 July 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 filing17 verified
- report date8 July 2026
- report noFirst Report
- secured creditorsnote: Approximate amount, before fees, costs and interest which continue to accrue. Construction Loan Facilities matured January 31, 2026; forbearance agreement dated Feb 1, 2026 was breached; Agent issued demand letter and NITES on April 21, 2026. · page: 4 · as of: 2026-06-08 · amount: 21123337 · debtor: Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp. · creditor: UOB (as Administrative Agent for Construction Lenders UOB and Laurentian Bank of Canada) - Term Construction Facility · currency: CAD · security: Demand Debenture dated May 10, 2022, registered as Instrument No. AT6044624 against the Real Property; first-ranking fixed and specific mortgage and charge over the Real Property, security interest in present and after-acquired personal property, and assignment of agreements. Term Construction Facility limit up to $79,916,000 (facility ceiling, not balance).
- secured creditorsnote: Approximate amount, before fees, costs and interest which continue to accrue. Mezzanine Facility matured February 28, 2026. · page: 4 · as of: 2026-06-08 · amount: 8913611 · debtor: Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp. · creditor: United Overseas Bank Limited (UOB) - Mezzanine Lender - Mezzanine Facility · currency: CAD · security: Same Demand Debenture Charge dated May 10, 2022 (Instrument No. AT6044624). Mezzanine Facility limit up to $9,050,000 (facility ceiling, not balance).
- secured creditorsnote: Approximate amount, before fees, costs and interest which continue to accrue. · page: 4 · as of: 2026-06-08 · amount: 605737 · debtor: Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp. · creditor: United Overseas Bank Limited (UOB) - LC Facility · currency: CAD · security: Same Demand Debenture Charge dated May 10, 2022 (Instrument No. AT6044624). LC Facility limit up to $2,500,000 (facility ceiling, not balance).
- operational summaryA summary of the Receiver's activities since the date of the Receivership Order includes: familiarizing itself with all aspects of the Debtors' Business, Real Property, Project, and Unsold Units; taking possession of the Debtors' assets, including the cash in its bank accounts; facilitating insurance on the Debtors' property; negotiating the Listing Agreement; preparing the Sale Process and discussing same with the Lenders; reviewing the Sales Plan; preparing, with the assistance of the Sales Agent, the Pricing Schedule; liaising with the Debtors and their solicitors regarding outstanding transactions; communicating with various construction lien claimants and their counsel; keeping the Lenders apprised of material developments in these proceedings; and preparing and sending the statutory Notice of the Receiver pursuant to Section 246 of the BIA.
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 896000 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: The Brick Warehouse LP · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 145051 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Anax Inc. · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 66637 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Design Elementz Ltd. · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 615780 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Nekison Engineering · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 108081 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Ultimate Fire Protection Ltd. · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 62835 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Westview · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review by Receiver's counsel; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 198958 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: TSCC#3159 and FirstService Residential · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: General contractor; certain other lien claimants may form part of this claim, subject to further review and analysis. Priority relative to Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 8401086 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Wilkinson Manderley Inc. · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 541335 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Mazzad Drywall Inc. · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 163433 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Frendel Kitchens Ltd. · currency: CAD · security: Construction lien registered against the Real Property
- secured creditorsnote: Priority relative to the Lenders' security under review; not yet determined. · page: 10 · as of: 2026-07-04 · amount: 158332 · debtor: Nova Ridge (Manderley) Limited Partnership · creditor: Trinity Landscaping Ltd. · currency: CAD · security: Construction lien registered against the Real Property