Power of sale vs foreclosure vs receivership in Canada

In August 2026, a lender owed about $5.4 million on eight new, empty homes in Bracebridge, Ontario wanted them sold¹. It could not do it under its mortgage. The court accepted that without a receiver the lender "cannot sell the Properties, whether by power of sale or otherwise, in a manner that complies with the applicable Tarion and HCRA requirements", and appointed one over the builder's opposition².

That choice faces every lender whose borrower stops paying: sell the property under the mortgage, ask a court to foreclose, or put a court officer in charge. It decides what happens to the owner, how much notice they get, whether a judge is watching, how long they have to pay, and whether they still owe money after the sale. The answer depends on the province, and on the property.

General information about how Canadian lenders enforce mortgages, drawn from the court record and the statutes. Not legal advice about your situation.

What is the difference between power of sale, foreclosure and receivership?#

Who sells the property, and whether a court supervises it. Under a power of sale the lender sells. In a foreclosure the court decides, either by giving the lender the property or by ordering a sale. In a receivership a court officer takes control and sells.

Power of sale

The power to sell is written into the mortgage, and Ontario's Mortgages Act sets the minimum notice. The lender serves a notice of sale, waits, lists the property and sells it. No judge approves the price.

Foreclosure

The lender sues, and the owner gets a redemption period to pay. A final order of foreclosure then gives the lender the property itself; in Alberta it also ends the debt (Law of Property Act, s. 48). On an individual's mortgage, Alberta's order nisi must first offer the land for sale (s. 40(2)), though not on a corporation's (s. 43); in BC any party can ask the court to order a sale.

Judicial sale and judicial listing

The property is sold under a court order, usually through a realtor, and the court approves the buyer and the price. In Alberta, where a realtor lists the property under the court's foreclosure order, it is called a judicial listing.

Receivership

A court appoints a receiver, which must be a licensed insolvency trustee (BIA s. 243). It takes control of the property, collects the rents, fixes what needs fixing, runs a sales process and asks the court to approve the sale and transfer title "free and clear" of the mortgages. A lender can also appoint a receiver privately under its security; the cases in this guide are court receiverships.

How does power of sale work in Ontario?#

Out of court, on a statutory timetable. A lender with a power of sale in its mortgage cannot give notice until the default "has continued for at least fifteen days", and cannot sell "for at least thirty-five days after the notice has been given" (Mortgages Act, s. 32).

1. The notice of sale goes to the owner and to everyone with a later interest registered on title, such as a second mortgagee or a creditor with a writ (s. 31).
2. The owner can still pay. At any time before the sale, the owner can pay what is in arrears, not the whole accelerated loan, plus the lender's necessary expenses, and the default is cured (s. 22). An owner can demand a written statement of the arrears, and the lender must answer within 15 days.
3. The lender lists and sells at the end of the notice period.
4. The money is paid out in order under the Act: the sale costs, the lender, later mortgages, then tenants' rent deposits. Anything left belongs to the owner (s. 27).

A mortgage with no power-of-sale clause still gets one from the Act, but only after three months of default and with 45 days' notice (ss. 24, 26).

A notice of sale is often only the first step. At 25 James Street in Georgetown, six unfinished townhomes, the second mortgagee served a "Notice of Sale Under Mortgages" claiming $4,507,509.83 and said it would sell if not paid by June 1, 2026³. The first mortgagee went to court instead. An interim receiver was appointed on September 9⁴ and a receiver with power to sell on September 22⁵.

Ontario law also allows foreclosure and court-ordered sales through a court action (Rules of Civil Procedure, Rule 64). A power of sale needs no court case at all.

How does foreclosure work in British Columbia and Alberta?#

Through the court. A judge sets a redemption period, and if the owner does not pay, the property is sold under the court's supervision or handed to the lender by a final order.

British Columbia: the order nisi and conduct of sale

A BC foreclosure starts with a petition to the Supreme Court, served with a form that tells the owner what a foreclosure is (Supreme Court Civil Rules, Rule 21-7). The first order, the order nisi, fixes what is owed and a redemption period. Six months is the default, and the judge can shorten or extend it.

The lenders on 27222 Lougheed Highway in Maple Ridge, a manufacturing plant, asked for a redemption period of "one (1) day"⁶. The order nisi gave six months⁷. When nobody paid, the court gave the lenders conduct of sale, the right to list and sell, on May 28, 2026, and "any sale shall be subject to the approval of the Court"⁸.

Alberta: the redemption order and judicial listing

In Alberta the statute sets the redemption period on an individual's mortgage: six months from the order, one year for farm land, and the court can shorten or extend it (Law of Property Act, s. 41). It does not apply to a mortgage given by a corporation (s. 43). If the debt is not paid by the redemption date, the court's standard order has the property listed with a realtor, and every offer must be approved by the court (Court of King's Bench templates).

A judicial listing is the gentler route, and it does not always work. National Bank first applied for a receiver over two downtown Edmonton parking lots, then agreed to a judicial listing instead⁹. Two listing rounds, the second at a 10% cut¹⁰, brought "limited interest" and no offer the bank would take¹¹. The court appointed a receiver on August 10, 2026¹².

Québec and other provinces

• Québec has no power of sale or foreclosure under those names. A lender registers a prior notice, 60 days for a building or land, then takes the property in payment or has it sold under court authority. Selling it itself is allowed only for a business's property (Civil Code, arts. 2748, 2758, 2784).
• Nova Scotia: foreclosure, sale and possession through the court, usually by public auction (Civil Procedure Rule 72).
• Manitoba: the lender can apply to the land titles office's district registrar to sell, instead of a court (Real Property Act, s. 135).
• Saskatchewan: no mortgage action without the court's leave, on 60 days' notice to the borrower and the Provincial Mediation Board (Land Contracts (Actions) Act, 2018, ss. 5–6). The Act does not cover land used solely for commercial purposes (s. 3).

Why would a lender ask the court for a receiver?#

When a power of sale or a foreclosure will not get the property sold well, or at all. A receiver has a court's authority to run the property, collect its rents, fix it, deal with buyers and sell it free of the mortgages.

The record shows the same reasons again and again:

• New homes. In Bracebridge the lender could not sell new homes in compliance with the Tarion and HCRA rules. At 25 James Street, the lender cited "the impending expiry of the Tarion registration" among its reasons¹³.
• Tenants and rents. Toronto Artscape's receiver "instructed said tenants to pay all arrears and future rent to the Receiver"¹⁴.
• A property hard to manage. For two Mississauga commercial buildings, the court called it "a good case for a neutral, court-appointed officer to bring stability to the property in the interest of the parties, tenants, and other users alike"¹⁵.
• Two lenders after the same rents. At 333 6 Avenue NE in Calgary, a second lender asked for a receiver of rents, with the rents paid to it¹⁶; the first lender answered with a full receivership¹⁷.
• Forbearance that ran out. The owners of WSP Place, an Edmonton office tower, signed a two-year forbearance agreement and delivered "a duly executed consent receivership order" with it¹⁸. The forbearance expired on June 12, 2026¹⁹, and a receiver was appointed on August 14²⁰.
• A softer route that failed, like the Edmonton parking lots.

What notice does a lender have to give?#

It depends on the route and on whether the property is a business's. Three notices matter most:

• A section 244 notice. A lender enforcing against "all or substantially all" of an insolvent business's property must first send a notice of intention to enforce its security and wait ten days, unless the borrower consents after the notice is sent (BIA s. 244). A court will not appoint a receiver sooner unless the borrower consents or it finds an earlier appointment appropriate (s. 243(1.1)). The filings of 82% of the property receiverships in the record that began in 2023 or later mention a section 244 notice; in Ontario, 88%.
• Ontario's notice of sale, at least 35 days before a power-of-sale sale.
• Foreclosure papers. In BC and Alberta the owner is served with the court case itself, and the redemption period runs from the order.

The ten days can decide who gets there first. At 177 Cross Avenue in Oakville, a third mortgagee said its notice was served when it was mailed on September 19, 2025. The owner said it counted from receipt on September 22, so the ten days had not run when it filed a notice of intention to make a proposal on October 2²³.

What happens when a receiver is appointed to a property?#

The receiver takes control at once. On its first day at 25 James Street, the interim receiver arrived "to change the locks, meet with the tenants, tour and take pictures of units"²⁴.

The appointment order usually does five things:

1. Puts the receiver in possession of the property and its rents. Rent already paid to a junior lender may have to be handed over: at 177 Cross Avenue, within ten days²⁵.
2. Stops other lawsuits against the owner and the property without the receiver's consent or the court's leave.
3. Ranks the receiver's fees first. In Bracebridge the receiver's charge took priority "to all security interests, trusts, liens, charges and encumbrances"²⁶.
4. Lets the receiver borrow to carry the property, up to a set limit.
5. Lets the receiver sell, small sales on its own and the main sale only with the court's approval.

An interim receiver is a short-term version, used when something cannot wait. At 25 James Street, the full order added the power to sell and dropped the time limit²⁷.

A receivership is not a bankruptcy. As one receiver told residents, receiverships "are not intended to be permanent" and usually end after the sale, with a court order discharging the receiver²⁸.

How long does a receivership take?#

Months, and often most of a year. In a sample of 119 property receiverships in the record that reached a court-approved sale, half got there within 239 days of the receiver's appointment, and a quarter took more than 392 days. Ontario and Alberta ran close to that; British Columbia's cases took longer.

177 Cross Avenue in Oakville, an Ontario property with three mortgages, ran from the first enforcement notice to a closed sale in seven months:

A fight takes longer. At Moatfield Drive in Toronto, two office towers whose owner opposed the receivership and sought leave to appeal the appointment, the sale was approved 471 days after the receiver was appointed³⁶.

How is the property sold?#

Through a sales process the court approves first, then a sale the court approves again. The receiver lists the property, often on MLS, markets it to buyers and brings the best offer back to court.

• Wide marketing, few offers. In Langley, a receiver's agent emailed 1,362 developers and investors about a development site³⁷; "one formal offer was received"³⁸. In Spruce Grove, 1,622 prospects produced one formal offer for a strip plaza³⁹.
• Sealed prices. The price, or the lowest price a receiver will take, is often sealed until closing, because otherwise "prospective purchasers of a Property would have access to the floor price"⁴⁰. Of the 43 receiverships in Ontario, BC and Alberta whose first property sale a court approved from July to September 2026, the court sealed the price in 39.
• Credit bids. The lender can bid what it is owed instead of cash. At 177 Cross Avenue the buyer paid cash only for the claims ranking ahead of it, and "the balance of the purchase price will be satisfied by way of reduction of the outstanding debt"⁴¹. The lender, a company tied to it, or a buyer that had bought its debt took six of those 43.
• A vesting order transfers title to the buyer free of the mortgages and liens, which then attach to the sale money instead.

A court-supervised sale is meant to be the opposite of a fire sale. When the owner of the Moatfield towers argued it would be a distress sale, the court disagreed: "there will be no 'distress' sale"⁴². It drew six offers⁴³.

What does a receivership cost, and who pays?#

The property pays, before the lender. The receiver's fees and its lawyer's fees come out of the sale money first, and so does whatever it borrowed to carry the property.

Where the record holds a receiver's accounts for a whole receivership (27 cases; 14 for the lawyers), the receiver's own fees came to a median of about $73,000 and its lawyers' about $45,000, before disbursements and tax. Those finished cases lean toward simpler receiverships, and larger ones cost far more. A partner on a receiver's team billed a median of $750 an hour on property receiverships in 2025 and 2026.

Individual cases show the range:

• 177 Cross Avenue: $211,231 for the receiver and $105,901 for its lawyers, paid over about nine months, including disbursements and HST⁴⁴.
• Sprucewood Plaza: $56,330 for the receiver to May 31, 2026, plus disbursements⁴⁵.
• Nine apartment buildings in New Brunswick and Nova Scotia: about $664,000 for the receiver and $671,000 for its lawyers in fees and expenses paid over two years⁴⁶.

Time costs money too. In Mississauga the debt grew "at approximately $120,000.00 per month in addition to property taxes, professional fees and other carrying costs"⁴⁷. As a judge put it in the same case, "Every day of the receivership adds expenses that must be recovered first from proceeds"⁴⁸.

Can the owner stop the sale?#

Yes, by paying, but the bar rises the further it goes.

Before a sale

In Ontario, pay the arrears and the lender's expenses at any time before the sale and the default is cured (Mortgages Act, s. 22). In BC and Alberta, pay within the redemption period. In Alberta, paying the arrears with costs before judgment entitles the owner to relief (Law of Property Act, s. 38), and the court's standard order stays the foreclosure while payments stay current, if the mortgage has not matured.

Once a receiver is in place

The right to redeem survives, but it narrows.

When the receiver has a buyer, courts ask whether the owner "shows up with a cheque" for the full amount⁴⁹. The owner of 30 Baywood Road came with two conditional mortgage commitments, was given until August 5, 2026 with "no other conditions"⁵⁰, and on August 7 lost the property to the receiver's buyer⁵¹.

In Alberta, a court approved the sale of Sprucewood Plaza but paused its own order for ten days "solely to permit" the owner to pay everything owing⁵². The receiver "has not received any payment", and the buyer was still ready to complete⁵³.

Filing for protection

• A notice of intention to make a proposal stops most enforcement, including a mortgage lender's, with exceptions: a lender that sent its section 244 notice more than ten days earlier is not stopped (BIA s. 69). The owner then has 30 days to file a proposal, extendable to six months in all.
• A developer can answer with the CCAA. In Surrey, a condo developer argued that a receiver would force a new disclosure statement and hold up sales⁵⁵. The court found that, "at least for now", its CCAA proceeding was "a viable alternative" to its lender's receivership application⁵⁶.
• Bankruptcy does not stop a secured lender unless a court orders it, and then generally for no more than six months (BIA s. 69.3).

An owner can also bid in the receiver's sale. As one Ontario judge noted, the owner "is free to participate in the bid process on the same terms as any other bidder"⁵⁷.

What happens if the sale doesn't cover the debt?#

The borrower usually still owes the difference, and so does anyone who guaranteed the loan.

• Ontario: every registered mortgage includes the borrower's promise to pay (Land Registration Reform Act, s. 7), so the borrower remains personally liable for what the sale leaves unpaid.
• British Columbia: the court can give the lender judgment for the amount due (Rule 21-7(5)(e)).
• Alberta: on an individual's mortgage the lender is limited to the land, and a borrower cannot waive that protection (Law of Property Act, s. 40). The protection does not cover a mortgage given by a corporation or an insured high-ratio mortgage, and guarantors stay liable (ss. 43, 45).
• Québec: after a sale the lender keeps a claim for the balance; taking the property in payment wipes out the debt (Civil Code, arts. 2782, 2789).

Moatfield Drive shows how large a shortfall can be. The receiver received $39,683,728 from the sale after closing adjustments⁵⁸, "over $26,000,000 less than the debt owed" to the bank⁵⁹. The bank then had the owner adjudged bankrupt⁶⁰, to reverse the priority of a tax lien⁶¹.

It can go the other way. In Maple Ridge, a trustee expected "there is likely to be equity in the Lougheed Property after all creditors are paid in full"⁶². Money left after the lenders are paid belongs to the owner.

If you rent in the building#

Your lease usually survives. When nine apartment buildings in New Brunswick and Nova Scotia went into receivership, the receiver's notice told tenants: "Your lease is unaffected by the Receivership and you remain a tenant of the Building"⁶³. When Shelter Cove, a land-lease community, was sold, the residents' registered leases stayed on title, though contracts to buy homes on the lots were disclaimed⁶⁴.

In Ontario, a lender or buyer that takes over a rented home becomes the landlord, and can get possession only through the Residential Tenancies Act (Mortgages Act, ss. 47–48). In BC, a foreclosure order cannot be enforced against a tenant who was not a party to the case (Residential Tenancy Act, s. 94).

Deposits are the risk. In Calgary, the receiver of 18 rental units "was unable to locate, and was not provided with, any tenant deposits"⁶⁵. In New Brunswick and Nova Scotia, the receiver asked the court's approval to fund $54,205 of missing deposits from rents⁶⁶.

The rules in your province#

Elsewhere: Nova Scotia usually sells by court-ordered public auction; Manitoba can run sales through the land titles registrar; Saskatchewan requires the court's leave first, except for purely commercial land.

What to do now#

How to find the case#

Search the owner's or the property's name on Proceedings: each receivership in the record has a case page with the court orders and the receiver's reports in date order. Every receiver of an insolvent owner's property also files a notice and statement with the Office of the Superintendent of Bankruptcy and sends it to the owner and the creditors it knows of.

If the owner owes you money, our guide for creditors explains how to claim and what creditors get back.

Questions people ask#

Is power of sale better than foreclosure for the borrower?

Neither is simply better. A power of sale runs on a fixed timetable with no judge, and any money left after the sale goes to the owner. A foreclosure gives the owner a court-set period to pay, and a judge approves the sale price.

How long does a power of sale take in Ontario?

At least 50 days from the first missed payment to the earliest sale: 15 days of default, then 35 days' notice. Listing and closing take longer.

Can a lender sell my house without going to court?

In Ontario, under a power of sale, yes. In British Columbia and Alberta, no. In Québec, a lender cannot sell a household's home itself: it must take the home in payment or have it sold under the court's authority.

What is an order nisi?

The first order in a BC or Alberta foreclosure. It sets what is owed and the date by which the owner must pay, the redemption period.

What is a receiver of rents?

A receiver limited to collecting a property's rents, often for a lender with an assignment of rents. Alberta's courts can appoint one in a mortgage action (Law of Property Act, s. 49).

Who pays the receiver?

The property. The receiver's fees and borrowings come out of the sale money before the lender is paid.

Is a receivership the same as bankruptcy?

No. A receiver takes control of property, usually at a secured lender's request, and sells it under the court's supervision. As one receiver told tenants, "The Company is not bankrupt"⁶⁷. An owner can become bankrupt later, as at Moatfield Drive.

Sources#

Court filings

Each source links to the filing's entry on its case page.

1. Evertrust (Bracebridge homes). Pre-Filing Report of the Receiver, Aug. 19, 2026, para. 3 ↩
2. Evertrust (Bracebridge homes). Endorsement, Aug. 27, 2026, paras. 15, 20(e) ↩
3. 25 James Street, Georgetown. Affidavit (lender), Sept. 1, 2026, para. 52 ↩
4. 25 James Street, Georgetown. First Report of the Interim Receiver, Sept. 16, 2026, para. 1 ↩
5. 25 James Street, Georgetown. Receivership Order, Sept. 22, 2026, para. 2 ↩
6. 27222 Lougheed Highway, Maple Ridge. Foreclosure Petition, July 22, 2025, Part 1, para. 4 ↩
7. 27222 Lougheed Highway, Maple Ridge. Order Nisi, Oct. 27, 2025, para. 4 ↩
8. 27222 Lougheed Highway, Maple Ridge. Order (Conduct of Sale), May 28, 2026, para. 3 ↩
9. Luxor Land (Edmonton parking lots). Bench Brief, Aug. 5, 2026, para. 30 ↩
10. Luxor Land (Edmonton parking lots). Bench Brief, Aug. 5, 2026, para. 31 ↩
11. Luxor Land (Edmonton parking lots). Bench Brief, Aug. 5, 2026, para. 32 ↩
12. Luxor Land (Edmonton parking lots). Notice and Statement of the Receiver, Aug. 14, 2026, para. 1 ↩
13. 25 James Street, Georgetown. Affidavit (lender), Sept. 1, 2026, para. 60 ↩
14. Toronto Artscape. First Report of the Receiver (in Motion Record), Apr. 11, 2024, para. 13(iv) ↩
15. 1000 and 1024 Dundas Street East, Mississauga. Endorsement, Dec. 17, 2025, para. 3 ↩
16. 333 6 Avenue NE, Calgary. CMLS Bench Brief, Aug. 10, 2026, para. 15 ↩
17. 333 6 Avenue NE, Calgary. Receivership Order, Aug. 13, 2026, para. 2 ↩
18. WSP Place, Edmonton. MCAP Bench Brief, July 16, 2026, para. 37 ↩
19. WSP Place, Edmonton. Statement of Claim, July 14, 2026, para. 40 ↩
20. WSP Place, Edmonton. First Report of the Receiver, Oct. 5, 2026, s. 1.0, para. 1 ↩
21. 1000 and 1024 Dundas Street East, Mississauga. Endorsement, Dec. 17, 2025, para. 1 ↩
22. Mayfield Investments (Camrose and Medicine Hat). 2024 ABKB 635, Oct. 30, 2024, para. 40 ↩
23. 177 Cross Avenue, Oakville. First Report of the Proposal Trustee, Oct. 29, 2025, para. 27 ↩
24. 25 James Street, Georgetown. First Report of the Interim Receiver, Sept. 16, 2026, para. 10(a) ↩
25. 177 Cross Avenue, Oakville. Order Appointing Receiver, Nov. 27, 2025, para. 16 ↩
26. Evertrust (Bracebridge homes). Order (appointing Receiver), Aug. 27, 2026, para. 17 ↩
27. 25 James Street, Georgetown. First Report of the Interim Receiver, Sept. 16, 2026, para. 15 ↩
28. Shelter Cove. Letter to Residents (FAQs), July 25, 2024, Q. 2 ↩
29. 177 Cross Avenue, Oakville. First Report of the Proposal Trustee, Oct. 29, 2025, para. 26 ↩
30. 177 Cross Avenue, Oakville. First Report of the Proposal Trustee, Oct. 29, 2025, para. 1 ↩
31. 177 Cross Avenue, Oakville. Endorsement, Nov. 18, 2025, para. 8 ↩
32. 177 Cross Avenue, Oakville. Endorsement, Nov. 20, 2025, para. 2 ↩
33. 177 Cross Avenue, Oakville. Endorsement, Jan. 20, 2026, para. 3 ↩
34. 177 Cross Avenue, Oakville. Endorsement, Mar. 31, 2026, para. 1 ↩
35. 177 Cross Avenue, Oakville. Receiver's Certificate, Apr. 22, 2026, para. 4 ↩
36. Moatfield Drive, Toronto. Endorsement, Dec. 11, 2025, paras. 5, 10 ↩
37. Maskeen Carvolth, Langley. First Report of the Receiver, Aug. 18, 2026, para. 16(d) ↩
38. Maskeen Carvolth, Langley. First Report of the Receiver, Aug. 18, 2026, para. 17(d) ↩
39. Sprucewood Plaza, Spruce Grove. Receiver's First Report, July 13, 2026, paras. 36, 41 ↩
40. Evertrust (Bracebridge homes). Pre-Filing Report of the Receiver, Aug. 19, 2026, para. 29 ↩
41. 177 Cross Avenue, Oakville. Endorsement, Mar. 31, 2026, para. 3 ↩
42. Moatfield Drive, Toronto. Written Reasons, Aug. 30, 2024, para. 6 ↩
43. Moatfield Drive, Toronto. Endorsement, Dec. 11, 2025, para. 7 ↩
44. 177 Cross Avenue, Oakville. Third Report of the Receiver, Sept. 11, 2026, App. "G" ↩
45. Sprucewood Plaza, Spruce Grove. Receiver's First Report, July 13, 2026, para. 55 ↩
46. 720434 N.B. apartments. Supplement to the Ninth Report, July 10, 2026, para. 32(g) ↩
47. 1000 and 1024 Dundas Street East, Mississauga. Fourth Report of the Receiver, Sept. 10, 2026, para. 38(c) ↩
48. 1000 and 1024 Dundas Street East, Mississauga. Endorsement, Apr. 1, 2026, para. 21 ↩
49. 30 Baywood Road (Hano Investment). Endorsement, Aug. 7, 2026, para. 17 ↩
50. 30 Baywood Road (Hano Investment). Endorsement, July 23, 2026, para. 15 ↩
51. 30 Baywood Road (Hano Investment). Endorsement, Aug. 7, 2026, paras. 22–23 ↩
52. Sprucewood Plaza, Spruce Grove. Approval and Vesting Order, July 20, 2026, para. 19 ↩
53. Sprucewood Plaza, Spruce Grove. Supplement to the Receiver's First Report, July 30, 2026, paras. 15–16 ↩
54. 1000 and 1024 Dundas Street East, Mississauga. Endorsement, Sept. 21, 2026, para. 14 ↩
55. The Belvedere, Surrey. 2025 BCSC 2404, Dec. 4, 2025, para. 16 ↩
56. The Belvedere, Surrey. 2025 BCSC 2404, Dec. 4, 2025, para. 29 ↩
57. Moatfield Drive, Toronto. Endorsement, Feb. 24, 2025, para. 3 ↩
58. Moatfield Drive, Toronto. Fourth Report of the Receiver, July 14, 2026, para. 27 ↩
59. Moatfield Drive, Toronto. Factum of Bank of China (Canada), July 20, 2026, para. 14 ↩
60. Moatfield Drive, Toronto. Bankruptcy Assignment Order, July 23, 2026, para. 2 ↩
61. Moatfield Drive, Toronto. Factum of Bank of China (Canada), July 20, 2026, para. 15 ↩
62. 27222 Lougheed Highway, Maple Ridge. Trustee's Petition, Aug. 7, 2026, Part 2, para. 40 ↩
63. 720434 N.B. apartments. Tenant FAQ, Apr. 15, 2024, "How does the Receivership affect my lease?" ↩
64. Shelter Cove. Endorsement, Oct. 2, 2024, para. 3(l)–(m) ↩
65. Westmount rentals, Calgary. Fourth and Final Report (Westmount Projects), Apr. 15, 2024, para. 42 ↩
66. 720434 N.B. apartments. Fourth Report of the Receiver, Nov. 22, 2024, para. 18 ↩
67. 720434 N.B. apartments. Tenant FAQ, Apr. 15, 2024, "Is the company Bankrupt?" ↩

Laws and official pages

• Bankruptcy and Insolvency Act: s. 243 (receivers), s. 244 (notice), s. 245 (receiver's notice), s. 69 (stay on a notice of intention), s. 69.3 (bankruptcy and secured lenders)
• Ontario: Mortgages Act, Courts of Justice Act, s. 101, Rules of Civil Procedure, Rule 64, Land Registration Reform Act, s. 7 and the Commercial List model receivership order
• British Columbia: Supreme Court Civil Rules, Rule 21-7, Law and Equity Act, Practice Direction PD-66 and the Residential Tenancy Act
• Alberta: Law of Property Act and the Court of King's Bench foreclosure templates
• Québec: Civil Code, arts. 2748–2794
• Elsewhere: Nova Scotia Civil Procedure Rule 72, Manitoba Real Property Act, Saskatchewan Land Contracts (Actions) Act, 2018
• Financial Consumer Agency of Canada: paying your mortgage in financial difficulty and mortgage relief options

Official pages were checked on October 10, 2026.

The full record#

Every court receivership in the record in Ontario, British Columbia and Alberta in which a court approved the receiver's first sale of land or buildings between July 1 and September 30, 2026: 43 in all, 32 in Ontario, nine in Alberta and two in British Columbia. The median was 319 days from the receiver's appointment. The first ten, in order of approval:

The full table, all 43 sales with the route each lender took before the receiver, the price wherever the court made it public and the receiver's fees billed, every figure cited to the filing it came from, is for subscribers.