What happens to your deposit if your builder goes bankrupt in Canada

On February 21, 2025, an Ontario court let a receiver end every purchase agreement in the Buckingham towers at Grand Central Mimico, in Toronto¹. Buyers had signed for 686 of the 748 units, and none of the six bids in a 2024 sale process would take their agreements on². "Virtually all" of their deposits, about $71 million, had been "released and spent"³. Ending the contracts let the buyers be refunded by Tarion and the deposit insurer now, rather than after outside dates in 2028 or 2029⁴.

When a Canadian builder fails, what happens to your deposit depends on where the money was. An Ontario condo deposit is in trust or insured; an Ontario freehold deposit has usually been spent, and is protected only up to Tarion's limit; most BC presale deposits are in trust or insured. If your agreement is ended, those sources repay you; where an Ontario court approved a repayment process, it did so a median of about 11 months after the filing. The rest is an unsecured claim, and in several cases this guide follows, the receiver or trustee expected little or nothing for those.

General information about what happens to home buyers' deposits when a Canadian builder becomes insolvent, drawn from the court record, the statutes and the warranty programs' own pages. Not legal or financial advice about your situation.

Where is my deposit right now?#

In a trust account, with an insurer behind it, or already spent: it depends on what you bought and where.

Ontario condos: in trust, unless insured and released

Every payment toward a new condo, reservation money included, must be held in trust by a trustee or the developer's lawyer "as soon as a person makes a payment" (Condominium Act, 1998, s. 81).

The developer can take it out before closing only by putting "security of a prescribed class" in its place (s. 81(7)(b)): a Tarion deposit receipt, which covers up to $20,000 of a buyer's deposits, or an insurance policy against their loss (O. Reg. 48/01, ss. 20–22). The policy for the amount above $20,000 is what the filings call excess deposit insurance.

Ontario freehold homes: usually already spent

No Ontario statute requires a freehold builder to hold your deposit in trust. When Tarion asked the court in 2023 to treat about $77 million paid by about 765 Stateview Homes buyers as trust money, the court refused: it had been kept "in standard mixed operating bank accounts" and mostly or wholly spent⁵. A later endorsement in the same receiverships set out the difference:

Tarion's addendum does require a trust where three or more freehold homes are sold under agreements that end if the builder misses a sales or financing target (Tarion). At Stateview that money was never set aside, and the court wouldn't rank those buyers ahead of the lenders, though it left room for a different result "in an individual case"⁶.

Can the builder spend my deposit before I move in?#

For an Ontario condo, yes, once the deposit is insured. In the record, millions had been released from trust into construction before the builder failed.

• 1451 Wellington, an Ottawa condo: about 72 of 93 units pre-sold, and about $14.8 million of deposits "released to" the developer⁷, insured by Westmount Guarantee Services⁸.
• Elevate, in Kitchener: about $17 million "released for construction", owed to Westmount as second mortgagee⁹.
• 260 High Park, a church conversion in Toronto: about $11.2 million "released to the respondents from escrow and used in the construction of the Project", insured, with Tarion covering the first $20,000 of each deposit¹⁰.

Hazelton Development's monitor explained how it works:

The insurer often holds a mortgage on the project. At 260 High Park it secured the deposit insurance, which "was required in order to facilitate the release of purchase deposits from escrow"¹¹. There and at Elevate the sale left nothing for that mortgage¹²¹³, yet the insurers still had to repay the buyers at Elevate¹⁴ and were expected to at 260 High Park¹⁵.

What happens to my agreement when a receiver is appointed?#

Nothing, at first. Your agreement stays in force, and under the usual court order neither you nor the builder can end it without the receiver's consent or the court's. A statutory right to rescind, such as BC's, may survive unless the order stays it.

A receiver is the licensed insolvency trustee a court puts in charge of the project, usually at the lender's request; under the Companies' Creditors Arrangement Act (CCAA), a court-appointed monitor supervises instead (our guide to the routes).

The Vandyk receiver's first letter to UPtowns buyers said "the purchase agreements remain in full force and effect" and "can only be terminated by further order of the Court"¹⁶. The stay, the order that freezes claims and contract changes, binds buyers too: at Twelve Oaks, "no APS can be terminated at this point by a purchaser without approval of the Court or the Receiver"¹⁷.

Tarion says the same on its project pages: on their own, the appointment and the receivership neither terminate nor fundamentally breach the agreements, so no deposit claim opens yet (Tarion, Mewburn Towns project page, Mar. 12, 2026).

Can the receiver cancel my purchase agreement?#

Usually, with the court's approval. Among the 28 Ontario cases in the record begun from January 2024 to June 2026, a court ended or authorized ending all the buyers' agreements in 8 and some of them in 5 more.

The test the court applies

A receiver has no statutory procedure to disclaim, or walk away from, a contract. The court authorizes it under its power to let a receiver "take any other action that the court considers advisable" (Bankruptcy and Insolvency Act (BIA), s. 243(1)(c)), and has done so many times, Firm Capital (2012 ONSC 4816) among them¹⁸. To decide, it asks three questions set out in Forjay (2018 BCSC 527, para. 44)¹⁹:

1. Who ranks first in law? Almost always the mortgage lenders.
2. Would ending the contracts raise what the project sells for? If so, would keeping them prefer the buyers over the lenders?
3. Do the buyers' equities justify that preference anyway? In every case this guide cites that reached that question, the court put the lenders first.

In 2025 Ontario's Court of Appeal upheld a receiver's disclaimer of a condo buyer's agreement: the judge below "applied the correct test" (2025 ONCA 710, para. 14).

Why buyers rank behind the lender

The answer is usually in your contract. Pre-construction agreements typically give "a personal right only", no interest in the land, and rank the buyer behind the mortgages; they usually aren't registered on title²⁰. Buyers at Jefferson Properties' Richmond Hill project had signed this:

The lender there would fund completion only if the 28 freehold agreements were disclaimed. By the receiver's calculation the buyers would lose about $45,000 each on average, since Tarion covers freehold deposits only up to $100,000; the court held that this did not justify "overriding" the lender's priority²¹.

In a CCAA or a proposal

A builder under the CCAA can itself disclaim a contract with the monitor's approval, and you have 15 days to ask the court to stop it (CCAA s. 32; for proposals, BIA s. 65.11). At 1451 Wellington the court kept that decision: an agreement it recorded first barred disclaimer except "upon further order of the court"²³, and in July 2025 the court allowed it with the monitor's and the interim lender's consent²⁴.

Can my contract survive?#

Sometimes: the buyer of the project takes it over, a lender buys the project and keeps it, or you keep it at a higher price.

• The project's buyer takes it over. At Stanley District in Niagara Falls, the land buyer took on 362 agreements in July 2026²⁵, once it held a builder's licence from Ontario's Home Construction Regulatory Authority (HCRA), a condition of the sale²⁶. The deposits stayed in trust, outside the sale²⁷. Buyers who then wanted out were told their agreements "could not be terminated by the Receiver"²⁸.
• A lender buys the project and keeps every contract. KingSett, the Vandyk lender, bid its debt for Lakeview and three other Vandyk projects, a stalking-horse bid that "contemplates the assumption of all unit purchase agreements"²⁹; no other qualifying bid came in, and the court approved it in April 2026³⁰. Read how it played out for buyers who wanted out.
• You keep it at a higher price, or lose it. At UPtowns the receiver could raise prices, which it said were still on average 13% below market, or disclaim the agreements of buyers who wouldn't sign³¹. Elevate's Tower A buyers were offered their units "with a 24% purchase price increase" or disclaimer³²; Tower B's agreements were all disclaimed and Tower C's assumed³³.

Will my home still be built?#

Not always. In the record's cases begun since 2024, as many projects were sold unbuilt or partly built as were finished, or are being or are to be finished, and sold unit by unit.

Finishing needs a lender willing to fund it. 1451 Wellington, about 85% built, used the CCAA to finish rather than sell³⁴, expecting registration in October 2026³⁵. At Lumina Eclipse in Burnaby, finished under its CCAA, 164 presale units had closed by August 17, 2026³⁶.

Hazelton Development's Mississauga condo stopped at about 92.6% complete when the company suspended construction in March 2026³⁷³⁸. Every 2026 bidder wanted it as a rental, conditional on the remaining buyers' agreements being disclaimed³⁹; that proposal is set for a hearing on October 22, 2026⁴⁰.

A kept contract binds you too. Jefferson Properties' receiver finished the stacked condos, and the court approved the sales of nine units to the buyers who had signed for them before the receivership⁴¹. Buyers who refused occupancy, saying the units weren't safely finished, face a claim for damages and their deposits⁴²⁴³. In September 2026 the court approved selling that claim, still undecided, to the lender⁴⁴.

What will I be told, and who speaks for buyers?#

The receiver or monitor writes to buyers and posts updates on its website. In a few large cases, the court has appointed one lawyer for the buyers as a group.

The record holds 86 notices, updates and Q&As to home buyers in 26 developer cases since 2019, a floor, since many receivers post them only online. Twelve Oaks' receiver explained the word buyers meet first:

Representative counsel is a lawyer the court appoints for a whole group. At Hazelton the company paid, up to a cap, for counsel acting for buyers "as a group", not on any one buyer's "specific personal circumstances"⁴⁵. The 2026 appointment for more than 100 Vandyk Lakeview buyers was about rescinding under the Condominium Act, not deposits; the project's new owner pays, up to $75,000 plus tax⁴⁶⁴⁷.

How do deposit-return protocols work?#

A deposit-return protocol is a court-approved claims process that pays buyers whose agreements were ended, usually from the trust account, the deposit insurer and Tarion together. Among cases begun since 2019, the record holds 14 with a court order approving one, all in Ontario.

Adopting the receiver's words, the court in Toronto has said they "are common in real estate insolvencies and are frequently approved by this Court"⁴⁹, and said much the same at 260 High Park⁵⁰. The order usually follows the project's sale: in the record, a median of 343 days (about 11 months) after the filing, ranging from 182 to 1,009 days. The steps rarely change⁵¹:

1. You get a letter and a release from the receiver or the insurer's agent.
2. The escrow agent hands over the trust money, with interest, to the deposit insurer or its agent.
3. You upload the signed release, photo ID, a mailing address and the principal amount of your deposits.
4. Tarion checks the file and confirms it within ten business days; under 1451 Wellington's order it could instead point out what was missing⁵².
5. The insurer pays by cheque, with interest under the Condominium Act.

At 1451 Wellington, after buyers objected to the developer's protocol, the court made its own order:

Cheques were due within ten business days of Tarion's confirmation⁵³. Read how the 1451 Wellington deposits came back. Once a protocol starts, money can move fast. Hazelton's, in a CCAA:

Under the protocol, the money came first from deposits still in trust with the company's lawyers, then from the insurers⁶².

Tarion deposit protection: what does it pay, and when?#

Up to $20,000 plus interest for a condo, and up to $100,000 for a freehold home, once the deal has failed and the money doesn't come back another way.

Tarion Warranty Corporation runs Ontario's new home warranty plan. Its guarantee fund repays a buyer whose home was never transferred because the vendor "has gone into bankruptcy" or "has fundamentally breached the purchase agreement", or who used a statutory right to rescind (Ontario New Home Warranties Plan Act, s. 14).

The price excludes taxes (Reg. 892, ss. 1, 6; Tarion).

When a claim opens

Claims open once your agreement is ended in the sale process and the deposit isn't refunded through the receivership (Tarion, Mewburn Towns). So courts sometimes end contracts early. At two Stateview projects, BEA and Elm, the court let the receiver disclaim before any sale, because termination "is necessary to enable the pre-sale purchasers to make claims to Tarion"; at a third, Highview, sold months earlier, it let the receiver formally end agreements the project's buyer had not taken on⁶⁶.

Tarion pays what other sources don't. At Mewburn Towns in Niagara Falls, the receiver told the court:

So the receiver proposes paying out what it recovered, about a tenth of each deposit, before buyers claim from Tarion; that is for a later hearing⁶⁷. Read what is left of the 27 Mewburn buyers' deposits.

How you claim, and what Tarion does next

Tarion's claim portal lists builders in receivership; if the form won't open for your project, "it is too early in your builder's receivership to submit a deposit claim" (Tarion). Once it pays, Tarion takes over the buyer's claim (Reg. 892, s. 13). At Jefferson Properties it drew $1,440,000 on a freehold letter of credit and $1,846,001.10 on a condo one, both for freehold buyers' claims⁶⁸; the receiver wants the condo draw reversed, at a hearing set for March 9, 2027⁶⁹ (more).

For freehold agreements signed from January 1, 2027, a buyer who doesn't register in time is paid only from a special fund of $15 million a year, cut pro rata if claims exceed it and paid only the following year (ss. 4.9, 6.1, 8), and new freehold buyers get a 10-day cooling-off right (New Home Construction Licensing Act, s. 53.2).

What if my deposit is more than Tarion covers?#

For a condo, excess deposit insurance usually covers the rest. For a freehold home, usually nothing does.

A condo insurer's duty to the buyer survives the developer's defaults, an unpaid premium included, and it must pay within 60 days of the buyer's right being established (O. Reg. 48/01, s. 21). Insurers have brought protocols themselves, at Urban North in Barrie⁷⁰ and at 260 High Park⁷¹, where the receiver expected the insurer to pay about $11 million of deposit claims, Tarion's share being capped at $20,000 a deposit¹⁵.

Nothing requires a freehold builder to insure above Tarion's limit. Twelve Oaks' receiver told freehold buyers "there is no legal requirement for developers to do so. King Bond did not obtain excess deposit insurance for your deposits"⁷². Of the $16.93 million they paid, $8.63 million had gone to the builder⁷³, and many deposits "far exceed the $100,000" Tarion covers, "some by more than $150,000"⁷⁴.

What's left if my deposit isn't covered?#

An unsecured claim against the builder for whatever nothing else repays. In several cases this guide follows, the receiver or trustee expected little or nothing for those claims⁷⁵⁷⁶.

Money held in trust for you is not shared among the builder's creditors (BIA s. 67(1)(a)). Anything else is a debt that ranks behind the secured lenders and is shared with other unsecured creditors (BIA ss. 136, 141). The court approving the Twelve Oaks sale put it this way:

Urban North Townhomes had both kinds of buyer. About 173 freehold buyers had paid the developer directly, and that money was spent; about 321 condo-townhome buyers had paid into a lawyer's trust account, insured above Tarion's share⁷⁷. The condo buyers got a protocol⁷⁸; the freehold buyers were left to Tarion, with unsecured claims for the rest in a bankruptcy whose trustee expected nothing for creditors⁷⁹.

The order ending the Mewburn Towns agreements kept buyers' claims against the construction manager that signed them, against whoever released their deposits and against anyone else but the receiver, and their Tarion claims, but limited any claim against the insolvent company to an unsecured one⁸⁰. Upgrades paid straight to the builder fare no better: at 260 High Park they were left as "unsecured claims as against the companies"⁸¹.

How to file that claim, and what unsecured creditors get back, is in our guide for creditors.

What happens to a presale deposit in British Columbia?#

It is usually in trust or covered by deposit insurance, and buyers more often get out by rescinding or by agreement than by court order.

Trust and deposit insurance

For presales of five or more strata lots, every deposit must go into trust with a brokerage, lawyer or notary (Real Estate Development Marketing Act (REDMA), s. 18). The developer can use it only under a deposit protection contract (s. 19), which the buyer can enforce against the insurer (Insurance Act, ss. 143–144). A detached house on its own lot is generally outside these rules, and BC's home warranty covers defects only (Homeowner Protection Act, s. 22).

At Lumina Eclipse in Burnaby, about $21 million of $24.4 million in deposits had gone into the building under deposit insurance by the CCAA filing; about $3.5 million remained in trust⁸². Trust money can come up short: at Burnaby's Moonlight Sonata, the trust account held about $2.80 million of the about $4.17 million in deposits the signed agreements provide for, an apparent shortfall the developer blames on staged deposits and the monitor is still reviewing⁸³⁸⁴.

If a developer starts selling before it has a building permit or financing, its contract must let you cancel for a refund if that isn't disclosed within 12 months, or 18 in a 2025 pilot for projects of 100 or more units (BC Financial Services Authority (BCFSA); pilot).

Rescission: the BC buyer's way out

A BC buyer can cancel within 7 days of the later of signing and acknowledging the disclosure statement, or a new one (REDMA s. 21). A receiver's appointment requires a new statement (ss. 1, 16), which, on its counsel's preliminary review, CURV's receiver said "triggers a fresh right of rescission"⁸⁵. It offered CURV's 41 Vancouver presale buyers mutual termination, and all took it⁸⁶.

At District Northwest in Surrey, where construction had not begun, 873 of 1,023 units had been presold, with about $78 million of deposits in trust⁸⁷⁸⁸. After the BCFSA required a new disclosure statement⁸⁹, so many buyers rescinded that an $86 million stalking-horse bid fell through⁹⁰. In all, 200 rescinded and got their principal back, less small fees⁹¹⁹²; the interest went to the lender⁹³. Read why District Northwest still has no sale.

Court-ordered disclaimer is rare in BC. At Chloe, in Vancouver's Kerrisdale, the court authorized it for 21 presale contracts in 2025, 15 of them for homes and 6 for commercial units⁹⁵⁹⁶. Every deposit held in trust had been released to the developer under its deposit protection program⁹⁷.

When the contract can't be enforced: Lumina Eclipse

REDMA also stops a developer that breached Part 2 of the Act, for example by failing to disclose a material fact, from enforcing the agreement against the buyer, with narrow exceptions (s. 23). In August 2026, 39 Lumina Eclipse buyers, with about $3.6 million of deposits on contracts worth about $30.5 million⁹⁸, won a declaration that undisclosed problems, including a suspended warranty and permit, had made their contracts unenforceable before the CCAA began, and that the stay couldn't revive them⁹⁹ (2026 BCSC 1598). The deposits are still to be decided:

Read the 39 presale contracts a CCAA stay could not revive.

What about Alberta and Québec?#

Alberta condo deposits must sit in a lawyer's trust account unless an approved purchaser protection program secures them. Québec's guarantee plan repays up to $50,000 on new houses and on condo buildings of up to four stacked units.

Alberta

What a condo buyer pays is held in trust until title is in the buyer's name, in an Alberta lawyer's trust account within three days, not counting holidays and Saturdays (Condominium Property Act, s. 14); the lawyer must tell you within 10 days that it is there (Condominium Property Regulation, ss. 20.3–20.31). It may be released to the developer only at closing or against approved security, such as a minister-approved purchaser protection program, and never during your 10-day rescission period (s. 20.32).

Alberta's new home warranty covers defects only (New Home Buyer Protection Act, s. 3(6)); for a new detached house that is not a condominium unit, Alberta has no deposit scheme comparable to the condo trust, so check who holds the deposit.

In the record, that trust was tested at a commercial condo in Calgary, Ceana Development Sunridge, where buyers paid mostly from 2015 to 2017, before the lawyer-trustee rule took effect on April 1, 2018¹⁰⁰. About $2.3 million that buyers say they paid straight to the developer was never held in trust¹⁰¹; the court found no trust over it, and held the lender's registered mortgage would rank first anyway¹⁰².

Québec

The guarantee plan for new residential buildings repays a buyer's advance payments if the contractor defaults before the buyer formally accepts the building or unit, up to $50,000 per house or condo unit (Regulation respecting the guarantee plan for new residential buildings, ss. 9, 13, 26, 30). Condo buildings with more than four private units stacked one above another are outside it, and the contractor must hold a Régie du bâtiment du Québec (RBQ) licence and be accredited with the plan's manager, Garantie de construction résidentielle (GCR) (RBQ; GCR).

What to do now#

For your own situation, such as whether your agreement lets you terminate, what a release gives up, or whether to object to a disclaimer, talk to a real estate lawyer before you act; representative counsel acts for buyers only as a group.

How to find the case#

Search the builder's or project's name on Proceedings. Each proceeding in the record has a case page with its orders, reports and notices to buyers in date order. Builders often sell through single-purpose numbered companies, so try the project's name and street too.

In Ontario, Tarion keeps a list of builder insolvencies it is monitoring, which it says "may not be a complete list". The HCRA's Ontario Builder Directory shows whether a builder holds the licence the New Home Construction Licensing Act, s. 37 requires, and lets you filter by insolvency status. The Office of the Superintendent of Bankruptcy keeps a paid search of insolvency records.

Questions people ask#

Is my condo deposit protected by Tarion?

Up to $20,000 plus interest. Above that, by the trust account or, if the money was released to the builder, by excess deposit insurance.

Can I get my deposit back if my builder goes bankrupt?

Usually, in whole or in part. In Ontario, condo deposits come back from the trust account, the insurer and Tarion; freehold buyers get what Tarion covers, and the rest is an unsecured claim. In BC they come back from the trust account or the deposit insurer.

What happens when a builder goes into receivership?

The receiver takes control, your agreement stays in force under a court stay, and the project is sold or finished. If a buyer of the project won't take the agreements, the court usually lets the receiver end them. In Ontario, deposits then come back through a protocol or Tarion; in BC, from the trust account or the deposit insurer.

What happens to my deposit if a condo project is cancelled?

If the builder is insolvent, the same order applies: trust money and insurance first, then Tarion. The HCRA's directory lists Ontario condo cancellations and their reasons (HCRA).

Do I get interest on my deposit?

An Ontario condo developer owes interest at a rate set by regulation (Condominium Act, s. 82), and the record's protocols paid it. District Northwest's rescinding buyers got none, and in Alberta the interest belongs to the developer, except that interest earned between move-in and title is applied to the price.

Can the builder raise the price?

Not on its own, but in an insolvency a receiver or the project's buyer may offer you a higher price or a disclaimed contract, as at Elevate and UPtowns.

Sources#

Court filings

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

1. Vandyk receiverships. Purchase Agreement Relief and Deposit Return Protocol Approval Order, Feb. 21, 2025, paras. 4, 7 ↩
2. Vandyk receiverships. First Report (Buckingham), Feb. 13, 2025, s. 2.2, para. 2; s. 2.3, paras. 3–4; s. 3.0, para. 1 ↩
3. Vandyk receiverships. Endorsement (Buckingham), Feb. 21, 2025, para. 8 ↩
4. Vandyk receiverships. Endorsement (Buckingham), Feb. 21, 2025, para. 15 ↩
5. Stateview Homes. Endorsement (Tarion trust motion), 2023 ONSC 7105, Dec. 22, 2023, paras. 5, 12, 14, 83 ↩
6. Stateview Homes. Endorsement (Tarion trust motion), 2023 ONSC 7105, Dec. 22, 2023, paras. 45–47, 72, 82 ↩
7. 1451 Wellington. Pre-Filing Report of the Proposed Monitor, Oct. 15, 2024, para. 14 ↩
8. 1451 Wellington. Eighth Report of the Monitor, June 16, 2026, para. 13 ↩
9. Elevate (Kitchener). Endorsement, Sept. 25, 2024, para. 5 ↩
10. 260 High Park. Endorsement, Sept. 9, 2025, para. 5 ↩
11. 260 High Park. Factum of the Receiver, Sept. 13, 2026, para. 8 ↩
12. 260 High Park. Second Report, June 13, 2025, paras. 18, 45 ↩
13. Elevate (Kitchener). Endorsement, Oct. 8, 2024, para. 10 ↩
14. Elevate (Kitchener). Case Conference Brief of the Sureties, Apr. 10, 2026, para. 5 ↩
15. 260 High Park. Second Report, June 13, 2025, para. 45 ↩
16. Vandyk receiverships. Notice to Unit Purchasers (Update No. 1, UPtowns), Nov. 24, 2023, "Deposits" (no para.) ↩
17. Twelve Oaks Towns (GC King Bond). Receiver's Q&A for Pre-Construction Unit Purchasers, Oct. 2025, "Can I terminate my APS and have my deposit returned?" (no para.) ↩
18. Jefferson Properties (Richmond Hill Grace). Endorsement (2024 ONSC 3507), June 18, 2024, para. 17 ↩
19. Jefferson Properties (Richmond Hill Grace). Endorsement (2024 ONSC 3507), June 18, 2024, para. 18 ↩
20. Elevate (Kitchener). Endorsement, Oct. 8, 2024, para. 23 ↩
21. Jefferson Properties (Richmond Hill Grace). Endorsement (2024 ONSC 3507), June 18, 2024, paras. 16, 37, 40 ↩
22. Vandyk receiverships. Endorsement, Apr. 23, 2026, paras. 14, 20–21 ↩
23. 1451 Wellington. Reasons for Decision, Oct. 25, 2024, para. 2 ↩
24. 1451 Wellington. Order (ARIO Amendment and Sealing), July 15, 2025, para. 2 (new ARIO para. 10(c)) ↩
25. Stanley District. Aide Memoire of the Receiver, July 23, 2026, paras. 2, 7 ↩
26. Stanley District. Endorsement, Jan. 7, 2025, para. 15 ↩
27. Stanley District. Approval and Vesting Order, Jan. 7, 2025, para. 6 ↩
28. Stanley District. Aide Memoire of the Receiver, July 23, 2026, para. 7 ↩
29. Vandyk receiverships. Notice to Home Buyers (Update No. 11), Jan. 8, 2026 (no para.) ↩
30. Vandyk receiverships. Endorsement, Apr. 23, 2026, paras. 3, 5–6, 22 ↩
31. Vandyk receiverships. Endorsement, Oct. 15, 2024 (2024 ONSC 6205), para. 13 ↩
32. Elevate (Kitchener). Notice to Unit Purchasers (Tower A), Sept. 27, 2024, Sch. "A" (Tower A Sales Plan), items 1, 5 ↩
33. Elevate (Kitchener). Endorsement, Oct. 8, 2024, para. 12 ↩
34. 1451 Wellington. Pre-Filing Report of the Proposed Monitor, Oct. 15, 2024, paras. 13, 43 ↩
35. 1451 Wellington. Eighth Report of the Monitor, June 16, 2026, para. 14 ↩
36. Lumina Eclipse. Ninth Report of the Monitor, Aug. 18, 2026, s. 1.0, paras. 3–4; s. 2.1, para. 4 ↩
37. Hazelton Development. Twenty-Seventh Report of the Monitor, Feb. 18, 2026, paras. 17, 26 ↩
38. Hazelton Development. Twenty-Ninth Report of the Monitor, May 8, 2026, App. B (Twenty-Eighth Report, Apr. 16, 2026), paras. 27–28 ↩
39. Hazelton Development. Thirty-Second Report of the Monitor, July 22, 2026, para. 36 ↩
40. Hazelton Development. Endorsement, Oct. 1, 2026, para. 1 ↩
41. Jefferson Properties (Richmond Hill Grace). Endorsement, Jan. 28, 2026, paras. 2, 4, 10 ↩
42. Jefferson Properties (Richmond Hill Grace). Twelfth Report, Sept. 9, 2026, para. 21; App. C (Notice of Arbitration, Oct. 1, 2025), para. 1(b) ↩
43. Jefferson Properties (Richmond Hill Grace). Factum of the Receiver (Appointing Arbitrator), Feb. 18, 2026, para. 18 ↩
44. Jefferson Properties (Richmond Hill Grace). Endorsement, Sept. 17, 2026, paras. 2, 10–11, 16 ↩
45. Hazelton Development. Representative Counsel Order, May 27, 2022, paras. 16, 18; Sched. A, para. 6 ↩
46. Vandyk receiverships. Representative Counsel Appointment Order, June 9, 2026, paras. 6, 12, 14, 15 ↩
47. Vandyk receiverships. Endorsement, June 9, 2026, paras. 3–4 ↩
48. Twelve Oaks Towns (GC King Bond). Receiver's Q&A for Pre-Construction Unit Purchasers, Oct. 2025, "I'm worried about scams" (no para.) ↩
49. Vandyk receiverships. Endorsement (Buckingham), Feb. 21, 2025, para. 18 ↩
50. 260 High Park. Endorsement, Sept. 9, 2025, para. 8 ↩
51. Vandyk receiverships. Second Report (King's Mill), Oct. 8, 2024, App. "B" (Deposit Return Protocol), paras. 2–3, 6–10 ↩
52. 1451 Wellington. Order (Deposit Return Process), Mar. 30, 2026, paras. 1(b), 3 ↩
53. 1451 Wellington. Order (Deposit Return Process), Mar. 30, 2026, para. 4 ↩
54. Hazelton Development. Endorsement (reasons for Initial Order), Apr. 22, 2022, paras. 1, 3–4 ↩
55. Hazelton Development. Report of the Proposed Monitor, Apr. 19, 2022, paras. 14, 26 ↩
56. Hazelton Development. Plan of Compromise and Arrangement, July 4, 2022, s. 1.1 ("Compensation Option") ↩
57. Hazelton Development. Endorsement (sanction hearing), July 12, 2022, para. 10(b)–(c) ↩
58. Hazelton Development. Eighth Report of the Monitor, Feb. 3, 2023, para. 28 ↩
59. Hazelton Development. Order re Deposit Refund Protocol, Feb. 10, 2023, paras. 3–5 ↩
60. Hazelton Development. Ninth Report of the Monitor, May 2, 2023, paras. 36–38 ↩
61. Hazelton Development. Endorsement, July 29, 2025, paras. 11, 17, 20 ↩
62. Hazelton Development. Order re Deposit Refund Protocol, Feb. 10, 2023, Sched. A, s. 14 ↩
63. Elevate (Kitchener). Deposit Return Protocol (Elevate), Sch. "A" (Release and Termination Agreement), s. 4 ↩
64. 1451 Wellington. Notice of Opposition (terminating purchasers), Mar. 2, 2026, paras. 4(a)(ii), 4(d) ↩
65. 1451 Wellington. Order (Deposit Return Process), Mar. 30, 2026, Sched. A (Release and Termination), paras. 1, 3 ↩
66. Stateview Homes. Endorsement (BEA, Elm, Highview disclaimers), Mar. 19, 2024, paras. 5, 13–14, 19 ↩
67. Mewburn Towns. Supplement to the First Report, Aug. 31, 2026, paras. 23, 26 ↩
68. Jefferson Properties (Richmond Hill Grace). Thirteenth Report of the Receiver, Oct. 2, 2026, paras. 23, 25 ↩
69. Jefferson Properties (Richmond Hill Grace). Notice of Motion (Letter of Credit Dispute), Oct. 6, 2026, p. 1 ↩
70. Urban North Townhomes (Mapleview). Factum of Aviva Insurance Company of Canada, Jan. 15, 2025, paras. 3–4 ↩
71. 260 High Park. Endorsement, Sept. 9, 2025, paras. 1, 3 ↩
72. Twelve Oaks Towns (GC King Bond). Information Bulletin for Purchasers, May 15, 2026, "Why Aren't My Deposits Fully Protected?" (no para.) ↩
73. Twelve Oaks Towns (GC King Bond). Receiver's Aide Memoire re Purchaser Objections, May 21, 2026, para. 7 ↩
74. Twelve Oaks Towns (GC King Bond). Endorsement (sale approval), 2026 ONSC 3286, June 5, 2026, para. 65 ↩
75. 260 High Park. Second Report, June 13, 2025, para. 18 ↩
76. Urban North Townhomes (Mapleview). Trustee's Report to Creditors on Preliminary Administration, Sept. 13, 2024, s. 8.0, para. 1 ↩
77. Urban North Townhomes (Mapleview). First Report of the Receiver, May 21, 2024, s. 2.3, paras. 1–2 ↩
78. Urban North Townhomes (Mapleview). Deposit Return Protocol Approval Order, Jan. 16, 2025, para. 2 ↩
79. Urban North Townhomes (Mapleview). Trustee's Report to Creditors on Preliminary Administration, Sept. 13, 2024, s. 4.4, para. 4; s. 8.0, para. 1 ↩
80. Mewburn Towns. Administrative Order, Sept. 15, 2026, paras. 6–7 ↩
81. 260 High Park. Endorsement, Sept. 9, 2025, para. 7 ↩
82. Lumina Eclipse. Reasons for Judgment, Aug. 25, 2026, paras. 19, 21 ↩
83. Moonlight Sonata. Second Report of the Monitor, July 21, 2026, s. 4.3, paras. 4, 7, 9 ↩
84. Moonlight Sonata. Fourth Report of the Monitor, Sept. 29, 2026, s. 2.1, para. 2; s. 8.4, paras. 1–2 ↩
85. CURV (1075 Nelson). First Report of the Receiver, Aug. 31, 2026, para. 53 ↩
86. CURV (1075 Nelson). First Report of the Receiver, Aug. 31, 2026, paras. 48, 54–55, 63 ↩
87. District Northwest. Second Report of the Receiver, Mar. 24, 2025, s. 2.1, paras. 1–2 ↩
88. District Northwest. Fourth Report of the Receiver, July 22, 2026, s. 2.1, paras. 1–2 ↩
89. District Northwest. Second Report of the Receiver, Mar. 24, 2025, s. 3.1, para. 3; s. 5.0, para. 4(a) ↩
90. District Northwest. Third Report of the Receiver, June 18, 2025, s. 3.3, paras. 1–2 ↩
91. District Northwest. Fourth Report of the Receiver, July 22, 2026, s. 5.0, para. 1(d) ↩
92. District Northwest. Receiver's Notice to Purchasers, Apr. 22, 2025, "Return of Purchaser Deposits" (no para.) ↩
93. District Northwest. Interim Distribution & Ancillary Order, June 24, 2025, para. 3 ↩
94. Lumina Eclipse. Initial Order, Jan. 8, 2025, para. 12 ↩
95. Chloe (Lightstone). Order (Authorisation and Direction to Disclaim), July 16, 2025, para. 1 ↩
96. Chloe (Lightstone). Order (Authorisation and Direction to Disclaim), Aug. 21, 2025, para. 1 ↩
97. Chloe (Lightstone). Receiver's Notice of Application (disclaimer), July 4, 2025, Part 2, paras. 11, 20 ↩
98. Lumina Eclipse. Reasons for Judgment, Aug. 25, 2026, paras. 6, 9 ↩
99. Lumina Eclipse. Reasons for Judgment, Aug. 25, 2026, paras. 44, 102, 112, 122, 132–134 ↩
100. Ceana Development Sunridge. Memorandum of Decision (2021 ABQB 98), Feb. 5, 2021, para. 3 ↩
101. Ceana Development Sunridge. Fifth Report of the Receiver, Dec. 2, 2020, para. 28 ↩
102. Ceana Development Sunridge. Memorandum of Decision (2021 ABQB 98), Feb. 5, 2021, paras. 38, 86–88 ↩

Laws and official pages

• Ontario: Condominium Act, 1998 (ss. 81, 82); O. Reg. 48/01 (ss. 20–22); Ontario New Home Warranties Plan Act (s. 14); Reg. 892 (ss. 1, 2.1, 4.7–4.9, 6, 6.1, 8, 13); New Home Construction Licensing Act, 2017 (ss. 37, 53.2)
• Tarion and the HCRA: Coverage before you move in, Making a deposit claim: insolvency, Bankruptcies, insolvencies and receiverships, Mewburn Towns, Deposit Trust Agreement, Ontario Builder Directory
• Federal: Bankruptcy and Insolvency Act s. 65.11, s. 67, s. 136, s. 141, s. 243; Companies' Creditors Arrangement Act s. 32
• Decisions: 2025 ONCA 710; Forjay, 2018 BCSC 527 (the three questions), aff'd 2018 BCCA 251; Firm Capital, 2012 ONSC 4816 (a disclaimer authorized); Stateview, 2023 ONSC 7105; Lumina Eclipse, 2026 BCSC 1598
• British Columbia: REDMA (ss. 1, 16, 18, 19, 21, 23); Insurance Act (ss. 143–144); Homeowner Protection Act (s. 22); BCFSA Policy Statements 5 and 6, early marketing pilot, Consumer Guide to Pre-sale Real Estate Purchases
• Alberta: Condominium Property Act (s. 14); Condominium Property Regulation (ss. 20.3–20.32); New Home Buyer Protection Act (s. 3); 2017 developer infosheet (archived)
• Québec: CQLR c. B-1.1, r. 8; RBQ; GCR

Official pages were checked on October 10, 2026.

The full record#

Every residential developer insolvency in Ontario or British Columbia in the record begun from January 1, 2024 to June 30, 2026 whose filings show buyers' agreements or deposits: 46 in all, 28 in Ontario and 18 in British Columbia. By October 10, 2026, 17 had been sold unbuilt or partly built. The first ten, in order of filing:

The full table, all 46 projects with the number of buyers, the deposits, what happened to the agreements, any deposit return order, the first sale and where each stands, every figure cited to the filing it came from, is for subscribers.