Ontario · Receivership (court-appointed)
Fourth Report of the Receiver dated September 18, 2026
Court officer report · 18 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 filing6 verified
- secured creditorsnote: Approximate figure per Duca's receivership application materials as of June 12, 2024, with interest and costs continuing to accrue; balance stated as of the date of the Receivership Order (August 12, 2024) · page: 6 · as of: 2024-06-12 · amount: 7500000 · debtor: 2460467 Ontario Inc. · creditor: Duca Financial Services Credit Union Ltd · currency: CAD · security: First-ranking mortgage on the Real Property; general security agreement dated December 6, 2022
- secured creditorsnote: Approximate amount owed under letter of credit facility as of the Filing Date (August 12, 2024) · page: 6 · as of: Filing Date · amount: 200000 · debtor: 2460467 Ontario Inc. · creditor: Duca Financial Services Credit Union Ltd (letter of credit facility) · currency: CAD · security: Letter of credit facility
- secured creditorsnote: Purchasers paid deposits of $3.8 million, of which approximately $2.1 million released from escrow prior to proceedings; balance remains in trust with Owens Wright LLP · page: 7 · as of: Filing Date · debtor: 2460467 Ontario Inc. · creditor: Aviva Insurance Company of Canada (by its agent, Westmount Guarantee Services Inc.) · currency: CAD · security: Charge registered against the Real Property in the amount of $7 million (deposit insurance security), described as registration ceiling not necessarily outstanding balance
- secured creditorsnote: Included among the nine suppliers' liens; Fusioncorp agreed to release its lien of approximately $878,720 as part of the Completion Agreement - status: released/discharged pursuant to agreement · page: 7 · as of: date of Completion Agreement (May 14, 2025 Court order) · amount: 878720 · debtor: 2460467 Ontario Inc. · creditor: Fusioncorp Developments Inc. · currency: CAD · security: Construction lien against the Real Property
- secured creditorsnote: Aggregate stated as 'over $1.2 million' - components not itemized individually in this excerpt; PPSA/construction lien class - Receiver reviewing liens as of date of Report · page: 7 · as of: pre-filing · debtor: 2460467 Ontario Inc. · creditor: Nine suppliers (construction lien claimants) · currency: CAD · security: Ten construction liens registered against the Real Property totalling over $1.2 million
- secured creditorsnote: This is post-filing DIP-style funding advanced during the receivership, not a pre-filing balance; Borrowing Charge limit increased from $1M to $14M then to $16.15M by Court orders dated May 14, 2025 and July 8, 2026 · page: 7 · as of: 2026-09-18 · amount: 13500000 · debtor: 2460467 Ontario Inc. · creditor: Duca Financial Services Credit Union Ltd (Receiver's Borrowing Charge funding) · currency: CAD · security: Receiver's Borrowing Charge (charge on the Property, authorized up to $16.15 million)