Auto Haven: one offer for Talbot Line, signed twice

The building at 45025 Talbot Line in St. Thomas, Ontario, sits on Highway 3: a freestanding commercial building of about 7,450 square feet on about 1.74 acres, from which 2694272 Ontario Ltd. ran an automotive retail and service business registered as Auto Haven, and which was in use as a truck accessories sales and service shop when the company agreed to sell it in June. It has been vacant since before July 24, 2026, when Justice Kalajdzic appointed Albert Gelman Inc. as receiver and manager on the application of Caisse Desjardins Ontario Credit Union Inc., per the First Report of the Receiver, Sept. 9, 2026, paras. 1, 6. The company's own listing had described it as "minutes from the new Volkswagen PowerCo battery plant," per the Affidavit of Olivier Ludger Ménard, July 8, 2026, Ex. "T".

The receiver's first report, dated September 9 for a motion returnable September 18, asks the court to approve a sale of the property for $1,525,000 to Black Diamond Trailer Sales Inc., the buyer the company found in June under its former name, Thiessen Trailer Sales Inc., and to approve it without a further, formal sales process. The price is the one the company agreed before the receivership. Desjardins was owed $2,158,551.57 as of September 4, before professional fees, and the receiver says the Caisse will not be repaid in full even from the entire net proceeds, per the First Report of the Receiver, Sept. 9, 2026, paras. 2–4, 25, 57.

A forbearance with a receiver's consent in it

The company bought the property on October 1, 2024 from 1904883 Ontario Inc. for a registered consideration of $2,000,000, and Desjardins registered a $1,443,750 charge and a notice of assignment of rents against it that day, per the parcel register at First Report of the Receiver, Sept. 9, 2026, App. "B". That charge secures a term loan of the same principal, advanced under a September 26, 2024 loan agreement at 5.990%. An April 12, 2024 variable credit agreement had already advanced $750,000 at the Caisse's prime rate plus 1.500%, backed by a general security agreement and by an unlimited guarantee from Nicholas Chesterfield, the company's president and a director, per the Affidavit of Olivier Ludger Ménard, July 8, 2026, paras. 5, 7–17.

By February 2026 the account sat with Desjardins' special loans group, and the correspondence exhibited to its application shows what the account manager there wanted: a date for bringing property taxes current, a monthly reduction of the operating line, the main bank account moved to Desjardins, and review-engagement financial statements for 2024 and 2025. The company's bookkeeper wrote back on February 6: "We were under the impression that the taxes were covered in the mortgage payment but just found out they are not." On March 18 the company said the 15-year amortization on its mortgage "is creating a significant monthly cash flow burden," with the line of credit at its limit, and asked to re-amortize the remaining $1.35 million over 25 or 30 years, per the Affidavit of Olivier Ludger Ménard, July 8, 2026, Ex. "R". The reply that day said Desjardins does not offer 25- or 30-year amortization on commercial loans and set out two four-month forbearance structures, each requiring $5,000 a month toward property taxes. Mr. Chesterfield confirmed on March 27 that the company wished to proceed with what the affidavit calls "Option 3," per the Affidavit of Olivier Ludger Ménard, July 8, 2026, paras. 21–24 and Ex. "R".

The agreement he signed for the company and as guarantor on April 20 recorded three existing defaults: $27,849.43 of property taxes unpaid as of December 24, 2025, the main operating account kept away from the Caisse, and the financial statements not delivered. It required monthly payments of $5,000 to the Municipality of Central Elgin by April 30, the account moved and the 2024 statements delivered by May 31, and a second-ranking $745,000 mortgage on Talbot Line by May 15 to secure the line of credit. Desjardins would forbear until August 31, 2026, or until a terminating event, and on the end of forbearance it could seek a court-appointed receiver, "to which appointment the Borrower has consented," a consent the agreement says survives its termination, per the Affidavit of Olivier Ludger Ménard, July 8, 2026, Ex. "C", ss. 2(a), 4(a)–(d). The $745,000 charge was registered on May 15.

On June 8, Gowling WLG (Canada) LLP demanded $2,113,781.11 on Desjardins' behalf, $750,000 on the line and $1,363,781.11 on the term loan as of May 28, and served a notice of intention to enforce security under s. 244 of the Bankruptcy and Insolvency Act. The demand listed the forbearance terms it said had been broken: the monthly tax payments, the bank account, the 2024 statements, and arrears as of June 3 of $7,461.64 in interest on the line and $24,350.78 on the term loan, per the Affidavit of Olivier Ludger Ménard, July 8, 2026, Ex. "Q", Schedules "A" and "B". A June 17 request for a liquidation plan drew no response, and on July 3 counsel for Mark Whiteford, a shareholder who had not held shares when Desjardins lent, told Desjardins' counsel that the company had an offer at $1,525,000. Olivier Ludger Ménard, an account director in the Desjardins special loans group, affirmed on July 8 that it was not clear the deal would become firm, that the company could not fund its mortgage or property tax payments, and that the Caisse "has lost confidence in the management of 269," per the Affidavit of Olivier Ludger Ménard, July 8, 2026, paras. 29–39.

None of the respondents appeared or filed material on July 24. "The defendants expressly consented to the appointment of a receiver in the Forbearance Agreement dated April 20, 2026. The defendants are in default of that agreement," Justice Kalajdzic wrote, noting that no substantial changes had been made to the standard order, per the Endorsement of Justice Kalajdzic, July 24, 2026, pp. 1–2.

What the receiver found

The receiver took possession on July 31. Richmond Advisory Services Inc., the property manager it retained, changed the exterior locks, began inspections every 72 hours, and found two vehicles left on the lot, a 2016 Ford Focus Electric and a 2014 Jeep Grand Cherokee Overland, for which no keys could be located; both went into storage, per the First Report of the Receiver, Sept. 9, 2026, paras. 21–22.

The report gives a section to what it calls the directors' lack of co-operation. On July 27, by the receiver's account, Mr. Chesterfield told it by telephone to arrange a site visit through the listing brokerage and said he would be unable to be contacted by telephone or email going forward. Requests for information sent on July 31 by registered mail and email came back undeliverable, the email address inoperative. His lawyer, Michael Brightling, produced the corporate minute book on August 11. Mr. Whiteford, the company's secretary, treasurer and other director, referred the receiver to Mr. Chesterfield, citing his limited involvement, and has provided limited information on the vehicles. The receiver says it has "obtained minimal books and records" from either director, per the First Report of the Receiver, Sept. 9, 2026, paras. 5, 15–19.

Besides the land, the company owns eight motor vehicles and two pieces of Kubota equipment, and is owed some receivables. Seven vehicles have been recovered and delivered to a liquidator; one vehicle and both Kubotas are still missing, and the receiver's inquiries about them to both directors have gone unanswered, per the First Report of the Receiver, Sept. 9, 2026, paras. 72–76. A PPSA search turned up registrations for Royal Bank of Canada against a 2024 Jeep Wrangler, Ford Credit Canada Leasing against a 2024 Ford Bronco, Vault Credit Corporation (two), Kubota Canada Ltd. (two), and Merchant Opportunities Canada Limited Partnership, whose registration reaches future debit- and credit-card receivables. Ford Credit has filed a proof of claim for $75,289.31; the receiver has not confirmed what is owed to the others, and has found no registration other than Desjardins' against the real property, per the First Report of the Receiver, Sept. 9, 2026, paras. 33–35.