Ontario · CCAA
Motion Record - Eighth Stay Extension - Returnable November 2, 2026
Application / notice of application · 26 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 filing8 verified
- secured creditorsnote: Outstanding DIP balance not stated on the cited pages. Initial borrowing authority was $2,345,000, increased to $25,000,000 by the ARIO on Oct 25, 2024. · page: 57 · debtor: Mizrahi Development Group (1451 Wellington) Inc. · creditor: TCC Mortgage Holdings Inc. (DIP Lender) · currency: CAD · security: DIP Lender's Charge securing all obligations under the DIP Facility. Maximum Amount under the DIP Facility is $47,000,000 (after DIP Amendment No. 2 and subsequent amendments); DIP Amendment No. 4 proposes to increase it to $54,500,000 (conditional on court approval), with repayment date extended to November 1, 2026. These are facility limits, not outstanding balances.
- unsecured creditorsnote: Disputed. Applicant says Lachance has been paid $4,475,328 against agreements totalling $4,715,156.58 and owes nothing; Applicant asserts a counterclaim, stating it paid and/or owes $1,606,192.37 to replacement contractors. Lachance's three unit agreements of purchase and sale (assigned to Crawford & Finchley Capital LLC) were disclaimed under CCAA s.32; unit purchase prices totalled $3,116,970. · page: 255 · basis: Drywall contractor claim under a fixed price contract; the Applicant states any such claim is plainly unsecured and may be determined in a Monitor claims process. · debtor: Mizrahi Development Group (1451 Wellington) Inc. · creditor: Maxime Lachance · currency: CAD
- unsecured creditorsnote: Disputed. Applicant and Mizrahi Inc. deny any claim, citing deficient/incomplete work, an unapproved mockup, and abandonment of site; they do not consent to lifting the stay. Claimed amount not stated on the cited pages. · page: 278 · basis: Claims unpaid amounts under a January 13, 2025 contract and intends to pursue a lien lawsuit; the August 6, 2024 contract of $56,500 (incl. HST) was paid. · debtor: Mizrahi Development Group (1451 Wellington) Inc. · creditor: Triumph Aluminum and Sheet Metal 2000 Inc. · currency: CAD
- unsecured creditorsnote: Asserted lien claim in a lien action, disputed/unadjudicated; the lien and its priority are claimed by the plaintiff, not established. · page: 373 · basis: Construction lien claim ($62,721.91 incl. HST, after deducting a $5,000 retainer) for painting/caulking work between Nov 4, 2025 and Jan 21, 2026; Claim for Lien registered March 4, 2026 (Instr. OC2881570); claimed to have priority over the mortgages. · amount: 62721.91 · debtor: Mizrahi Development Group (1451 Wellington) Inc. · creditor: All City Pro Painters Inc. · currency: CAD
- secured creditorsnote: Outstanding balance not stated. · page: 382 · debtor: Mizrahi Development Group (1451 Wellington) Inc. · creditor: David Berry · currency: CAD · security: Registered mortgage on the Premises of $4,000,000 (Instr. OC2739762, registered Nov 1, 2024). Registered principal, not an outstanding balance.
- secured creditorsnote: Registration amounts only, as recited in a lien claim by All City Pro Painters; outstanding balances not stated. · page: 382 · debtor: Mizrahi Development Group (1451 Wellington) Inc. · creditor: TCC Mortgage Holdings Inc. (assignee of Computershare mortgages) · currency: CAD · security: Two registered mortgages on the Premises transferred from Computershare to TCC Mortgage on or around October 16, 2024: $68,000,000 (Instr. OC2158856, registered Oct 29, 2019) and $6,000,000 (Instr. OC2430519, registered Dec 1, 2021). These are registered principal amounts, not outstanding balances.
- secured creditorsnote: Outstanding balance not stated. · page: 382 · debtor: Mizrahi Development Group (1451 Wellington) Inc. · creditor: Westmount Guarantee Services Inc. · currency: CAD · security: Registered mortgage on the Premises of $24,000,000 (Instr. OC2158858, registered Oct 29, 2019). Registered principal, not an outstanding balance.
- secured creditorsnote: Outstanding balance not stated. · page: 382 · debtor: Mizrahi Development Group (1451 Wellington) Inc. · creditor: V2 Investment Holdings Inc. · currency: CAD · security: Registered mortgage on the Premises of $12,900,000 (Instr. OC2682295, registered Apr 15, 2024). Registered principal, not an outstanding balance.