2541900 Ontario Inc.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-19-00632527-00CL
2541900 Ontario Inc. is subject to a court-appointed receivership under BIA s. 243 and the applicable provincial Judicature Act. As of December 5, 2019, the Lenders under a Credit Agreement dated November 9, 2016 — 1616292 Ontario Limited, 909413 Ontario Limited, RC Investments Inc., Niti Khanna, Henco Financial Inc., 2323583 Ontario Inc., and 2131774 Ontario Inc. — held indebtedness of $3,172,199.18 plus enforcement costs, secured by a charge/mortgage with a registered principal of $3,070,000 against two Queen Street, Brampton PINs, a general assignment of rents and leases, and a General Security Agreement registered under the Ontario PPSA. The obligation is personally guaranteed by Sarbjit Singh Dhillon and Mandhir Singh Dhillon. The Lenders state they are not the only secured creditor of the debtor; other secured creditors exist, with notice of and consent to the relief sought, though their amounts are not disclosed.
3 earlier updates, back to 16 December 2019 — subscribers.
Undated filings1 — no date appears on the document · show
1 filings carry no date on their face — subscribers.
Debtor
2541900 Ontario Inc.
Receiver
msi Spergel inc.
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Lenders under Credit Agreement dated November 9, 2016 (the Applicants: 1616292 Ontario Limited, 909413 Ontario Limited, RC Investments Inc., Niti Khanna, Henco Financial Inc., 2323583 Ontario Inc., anCharge/Mortgage in the principal amount of $3,070,000 (registered principal, not a balance) registered November 14, 2016 as Instrument No. PR3026936 against PIN 14209-1729 and PIN 14209-1730 (Queen Street, Brampton, ON); General assignment of rents and leases (GAR) dated November 9, 2016; Notice of GAR registered November 14, 2016 as Instrument No. PR3026937; General Security Agreement dated November 9, 2016 secured by PPSA (Ontario) registration, Reference File No. 721886715 — Indebtedness of $3,172,199.18 stated 'plus enforcement costs'; obligation personally guaranteed by Sarbjit Singh Dhil · as of 5 Dec 2019 | $3.17M | Issued Application |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Sale approved — sale transaction approved and vesting orderedOrder of Justice Hainey dated June 17, 2020 · 17 Jun 2020
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2437859 Ontario Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · nominee/assignee: 2758383 Ontario Inc. · agreement 4 May 2020 | not stated | Approved17 Jun 2020 | Order of Justice Hainey dated June 17, 2020 |
| Date | Document | File |
|---|---|---|
Endorsement of Justice Hainey dated June 17, 2020
| PDF · Subscribers | |
Order of Justice Hainey dated June 17, 2020
| PDF · Subscribers | |
| Returnable June 17, 2020 | PDF · Subscribers | |
Endorsement of Justice Hainey dated December 16, 2019
| PDF · Subscribers | |
Receivership Order dated December 16, 2019
| PDF · Subscribers | |
Issued Application
| PDF · Subscribers | |
| Receiver’s Motion for Sale Approval and Discharge | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “2541900 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/2541900-ontario-inc