Ontario · Receivership (court-appointed)
Application Record of the Applicant - Cameron Stephens Mortgage Capital dated November 18, 2025 - Volume 1 of 2
Application / notice of application · 18 November 2025
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 filing7 verified
- secured creditorsnote: Original loan facility $15,000,000 plus $3,000,000 additional facility added Jan 31, 2024 (aggregate facility). Guaranteed jointly and severally by Casewood Holdings Inc. (related party/third-party security grantor and guarantor) and personal guarantors Shahrokh Nourmansouri and Fereshteh Nourmansouri. Demand letter and BIA s.244 notice issued Oct 14, 2025; NOI filed by 1351637 Ontario Limited Oct 24, 2025. Document states aggregate indebtedness across all four Cameron Stephens loans of $45,813,167.20 as of the dates indicated (see para 5, p.29). · page: 30 · as of: 2025-11-10 · amount: 13738784.36 · debtor: 1351637 Ontario Limited · creditor: Cameron Stephens Mortgage Capital Ltd. · currency: CAD · security: First-ranking mortgage/charge against 4440 Garden Street Property (charge registered Feb 15, 2022, registered principal $14,400,000, increased to $18,000,000 by Mortgage Amending Agreement dated March 12, 2024 per 1.2x registration convention for $15M+$3M facility); collateral second-ranking charge over Whitby Meadows Property; collateral charge granted by Casewood Holdings Inc. over the Casewood Property (registered principal $4,800,000); General Security Agreement over all present and after-acquired personal property (PPSA registered Jan 26, 2022)
- secured creditorsnote: Original facility commitment $26,684,540, subsequently amended multiple times to add/adjust facilities (mezzanine, revolver, inventory, land facilities). Guaranteed jointly and severally by Shahrokh Nourmansouri and Fereshteh Nourmansouri (personal guarantors). Demand letter and BIA s.244 notice issued Oct 14, 2025; NOI filed Oct 24, 2025. · page: 30 · as of: 2025-11-10 · amount: 1336351.18 · debtor: Minthollow Estates Inc. · creditor: Cameron Stephens Mortgage Capital Ltd. · currency: CAD · security: First-ranking mortgage/charge against Folkstone Towns Property (charge dated Nov 18, 2020, registered principal $24,273,048); General Security Agreement over present and after-acquired personal property (PPSA registered Nov 2, 2020)
- secured creditorsnote: Guaranteed jointly and severally by Shahrokh Nourmansouri and Fereshteh Nourmansouri (personal guarantors). Demand letter and BIA s.244 notice issued Oct 14, 2025; NOI filed Oct 24, 2025. · page: 30 · as of: 2025-11-10 · amount: 17988044.46 · debtor: Whitby Meadows Inc. · creditor: Cameron Stephens Mortgage Capital Ltd. · currency: CAD · security: Mortgage/charge registered as Instrument No. DR2304434 on March 20, 2024, registered principal $14,300,000, registered individually against each of four parcels (PINs 16428-0542, 16428-0783, 16428-0785, 16428-0789) as cross-collateralized security for the same indebtedness; General Security Agreement (PPSA registered July 14, 2023)
- secured creditorsnote: Original loan amount $13,000,000 (charge dated Dec 17, 2024); table shows a negative interest & fees component of ($250,012.80), i.e. a credit, netting to the stated total. No direct payment default under this loan; demand issued on basis of cross-default triggered by defaults on affiliated Garden Street, Folkstone Towns and Whitby Meadows loans. Guaranteed jointly and severally by Shahrokh Nourmansouri and Fereshteh Nourmansouri (personal guarantors). Demand letter and BIA s.244 notice issued Nov 6, 2025; NOIs filed by Brooklin and Twinview Nov 14, 2025. · page: 30 · as of: 2025-11-06 · amount: 12749987.2 · debtor: Brooklin Olde Towne Inc. and Twinview Developments Inc. · creditor: Cameron Stephens Mortgage Capital Ltd. · currency: CAD · security: First-ranking mortgage/charge against Brooklin Property (registered principal $15,600,000) and against Mamone Towns Property (registered principal $15,600,000); General Security Agreement (PPSA registered Dec 2, 2024 against both Brooklin and Twinview)
- secured creditorsnote: Comprises Mercedes-Benz Financial Services Canada Corporation and The Bank of Nova Scotia, each registered against Minthollow limited to motor vehicles (PPSA search, Exhibit 32). Amounts not stated. · page: 39 · debtor: Minthollow Estates Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: PPSA registrations limited to motor vehicles
- secured creditorsnote: Registered against Whitby Meadows Inc. per PPSA search (Exhibit 43); nature and amount of underlying indebtedness not stated in the record. · page: 41 · debtor: Whitby Meadows Inc. · creditor: Bank of Montreal · currency: CAD · security: PPSA registration - Guarantee and Postponement of Claim with respect to Plaza of Taunton Road (Oshawa) Investments Inc.
- secured creditorsnote: Registered against Whitby Meadows Inc. per PPSA search (Exhibit 43); amount and scope not stated. · page: 41 · debtor: Whitby Meadows Inc. · creditor: Duca Financial Services Credit Union Ltd · currency: CAD · security: PPSA registration (scope not specified in record)