10268054 Canada Corp.

10268054 Canada Corp. has been under court-appointed receivership in Ontario since January 14, 2021, when the Ontario Superior Court of Justice (Commercial List) appointed BDO Canada Limited receiver and manager on the application of Centurion Mortgage Capital Corporation under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. Centurion's demand letter of November 18, 2020 put the amount owing at $8,505,625.90 in Canadian dollars plus unquantified legal fees and protective disbursements, secured by a charge registered at a principal amount of $17,500,000, a general security agreement, and unlimited joint and several guarantees from Dream Maker Developments Inc. and Temitope Olowolafe. The proceeding, file CV-20-00652174-00CL, remains active. Subordinate registered encumbrances include $6,000,000 in favour of Westmount Guarantee Services Inc., $2,000,000 and $500,000 held by Diversified Capital Inc., $500,000 in favour of Garrison Hill Developments Inc. and Kimila Treasure Campbell Greaux, and $1,565,000 in favour of 5023018 Ontario Inc.