Ontario · Receivership (court-appointed)
Motion Record – Dated October 14, 2026 – Returnable October 21, 2026
Application / notice of application · 14 October 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 filing3 verified
- secured creditorsnote: Post-appointment receivership borrowing, not pre-filing debt; ranks in priority to other security subject to BIA provisions. Also $150,000 Wind-Down Estimate received from Vista on closing. · page: 24 · as of: Second Report date (Oct 14, 2026) · amount: 86000 · debtor: Peace Point Properties Limited · creditor: Vista Mortgage Capital Corporation (Receiver's Certificates borrowings) · currency: CAD · security: Receiver's Borrowings Charge (fixed and specific charge on the Property); borrowing authorized up to $250,000.
- secured creditorsnote: No outstanding balance stated on these pages; payout/Discharge Statements are said to be in Appendices V and W (not provided). Security opinion states mortgage valid and enforceable and GSA perfected and ranking ahead of a trustee in bankruptcy (opinion confirmed, subject to standard assumptions). Vista credit-bid for the property; Receiver's Charge and Receiver's Borrowings Charge rank ahead. · page: 61 · debtor: Peace Point Properties Limited · creditor: Vista Mortgage Capital Corporation (as assignee of Equitable Bank first mortgage and GSA) · currency: CAD · security: First-ranking mortgage on 79 Berkeley St / 535-535A Adelaide St East, Toronto, registered principal $2,100,000 (registered principal, not a balance), registered Feb 10, 2020; first-ranking GSA dated Feb 4, 2020, PPSA registration amended to Vista; transfer of charge to Vista registered Sept 4, 2025 following full payout of EQB per Assignment Agreement of July 30, 2025.
- secured creditorsnote: Described as second-ranking mortgagee and fulcrum creditor. Outstanding balance not stated on these pages (see payout statements, Appendices V and W, not provided). Security opinion confirms validity and enforceability. · page: 61 · debtor: Peace Point Properties Limited · creditor: Vista Mortgage Capital Corporation (second mortgage) · currency: CAD · security: Second mortgage on the Real Property, registered principal $1,425,000 (registered principal, not a balance), registered Nov 27, 2023.