Sussman Mortgage Funding Inc. Investor Portal

On application by the Financial Services Regulatory Authority of Ontario (“FSRA”) pursuant to s. 37 of the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29 and s. 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended (the “CJA”), on May 2, 2025, the Honourable Justice Dietrich of the Ontario Superior Court of Justice (Commercial List) (the “Court”) issued an Order (the “Appointment Order”) appointing B. Riley Farber Inc. as receiver (in such capacity, the “Receiver”) of all of the assets, undertakings and properties (collectively, the “Property”) of each of Sussman Mortgage Funding Inc., 2486976 Ontario Inc. and 1981361 Ontario Inc. (collectively, the “Debtors”).

Further information concerning the Receivership Proceedings of the Debtors can be accessed on the Receiver’s Case Website at: Sussman Mortgage Funding Inc - B. Riley Farber

On May 20, 2025, the Court issued a further Order (the “Representative Counsel Order”) appointing Aird & Berlis LLP (“Aird & Berlis”) as Representative Counsel (“Representative Counsel”) to the Investors in connection with the Receivership Proceedings.

Pursuant to the Representative Counsel Order, with the exception of any Opt-Out Investors, (i) Representative Counsel shall represent all of the Investors in the Receivership Proceedings, and (ii) the Investors shall be bound by the actions of the Representative Counsel in the Receivership Proceedings.

The Representation Order defines Investors as “investors who invested in mortgages brokered and administered by SMFI pursuant to any written, oral, express or implied investor agreements entered into with SMFI […] in respect of the claims of the Investors in this proceeding.”

For clarity, Investors do not need to do anything further in order for Aird & Berlis to act as Representative Counsel for them in connection with the Receivership Proceedings.

Further updates concerning the status of the Receivership Proceedings will be emailed by Representative Counsel to the Investors as they become available.