Ontario · Receivership (court-appointed)
First Report of the Receiver dated November 28, 2025
Court officer report · 28 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 filing5 verified
- secured creditorsnote: Amount is per Payout Statement (Appendix 14) as of October 3, 2025, combining both facilities. Earlier demand letters dated April 23, 2025 stated separate balances: Facility 1 $3,994,496.30 ($3,979,575.62 principal + $14,920.68 interest) and Facility 2 $2,925,972.07 ($2,915,042.66 principal + $10,929.41 interest). Debt also secured by personal joint and several guarantees of Gasper Galifi and Hemanshu (Martin) Pathak, limited to the facility amounts. · page: 29 · as of: 2025-10-03 · amount: 7341166.4 · debtor: 1000200839 Ontario Inc. · creditor: Windsor Family Credit Union Limited (WFCU) · currency: CAD · security: First mortgages: Phase 1 Lots $4,482,800 (registered April 14, 2023, Instrument CE1130472); Phase 2 Lots $3,000,000 (registered August 24, 2023, Instrument CE1148582); General Security Agreement (first fixed and floating charge over Phase 1/2 assets); promissory notes matching facility principal amounts ($4,482,800 and $2,917,200); postponement/subordination of MCCCU's GSA in WFCU's favour.
- secured creditorsnote: Amount stated as 'approximately $15,849.50, plus any further interest or fees at the time of closing' (proposed distribution); a municipal tax-arrears priority claim akin to a deemed-trust/regulatory class outranking ordinary mortgage security. · page: 30 · amount: 15849.5 · debtor: 1000200839 Ontario Inc. · creditor: Town of LaSalle · currency: CAD · security: Statutory claim for property tax arrears pursuant to the Municipal Act, stated by the Receiver to rank in priority to WFCU's registered mortgage security over the Real Property (subject only to the Receiver's Charge and Receiver's Borrowings Charge).
- secured creditorsnote: Amount is per demand letter dated April 15, 2025 pursuant to the Second Mortgage; letter also claimed $2,000 legal fees and interest at 8%/annum from April 15, 2025 (not included in amount). NOI issued under s.244 BIA. An earlier, separate second mortgage of $3,400,000 dated April 14, 2023 over Phase 1 Lots only is referenced in the report/affidavit but does not appear in the current PIN Report summary of registered charges, suggesting it was replaced or discharged. · page: 66 · as of: 2025-04-15 · amount: 2798235.81 · debtor: 1000200839 Ontario Inc. · creditor: Trinity Woods Inc. (Developer) · currency: CAD · security: Second (vendor take-back) mortgage, registered principal $4,785,000, registered August 24, 2023, over Phase 1 and Phase 2 Lots (the 'Second Mortgage'); Balance Due Date April 13, 2025.
- secured creditorsnote: Amount per demand letter dated April 23, 2025; letter also claimed $2,000 legal fees (not included in amount). NOI issued under s.244 BIA. · page: 67 · as of: 2025-04-23 · amount: 1923076.9 · debtor: 1000200839 Ontario Inc. · creditor: Silver Leaf Rock Developments Inc. · currency: CAD · security: Second mortgage, registered principal $2,500,000, registered April 19, 2023, over the Silver Leaf Lots (Blocks 12-20, Plan 12M695, Lasalle, Ontario), a separate property owned by the Debtor not part of the Real Property in this receivership.
- secured creditorsnote: No balance owing stated in the document; only the registered principal amount of the mortgage is given. · page: 67 · debtor: 1000200839 Ontario Inc. · creditor: Motor City Community Credit Union (MCCCU) · currency: CAD · security: First mortgage, registered principal $3,450,000, registered April 19, 2023, over the Silver Leaf Lots (Blocks 12-20, Plan 12M695, Lasalle, Ontario), a separate property owned by the Debtor not part of the Real Property in this receivership; also held a first-position General Security Agreement which was postponed and subordinated in favour of WFCU's GSA over the Phase 1/2 Lots assets.