Ontario Court Appoints Receiver Over 421-425 Jane Street Property

On August 14, 2026, the Ontario Superior Court of Justice (Commercial List) appointed BDO Canada Limited as receiver over assets, undertakings and properties of 2493135 Ontario Inc., including the mixed-use property at 421-425 Jane Street, Toronto.

The appointment followed an application by First National Financial LP and First National Financial GP Corporation, after the debtor defaulted on a secured credit facility. As of June 22, 2026, approximately US$3.30 Million (C$4.55 Million) remianed outstanding, excluding accruing interest, costs and expenses.

The property comprises a two-storey mixed-use building with 11 residential units and three ground-floor commercial units, encompassing approximately 2,872 square feet of commercial space. The Court found that a receivership was just and convenient, citing the payment defaults, interference with enforcement efforts and the need for court-supervised protection of stakeholder interests.

Advisory Team:

AIRD & BELLIS LLP

Josh Suttner

Samantha Hans

Jaclyn Tarola