2580363 Ontario Inc. and 2580361 Ontario Inc.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
2580363 Ontario Inc. and 2580361 Ontario Inc. were placed in court-appointed receivership on June 2, 2022, under section 243 of the Bankruptcy and Insolvency Act and provincial judicature legislation, before the Ontario Superior Court of Justice. The Toronto-Dominion Bank held general security agreements from both companies dated August 21, 2019, cross-guarantees, and a mortgage in the principal sum of $1,205,000 registered August 22, 2019 over 21 Augusta Street, Hamilton. As at April 5, 2022, the Bank claimed $1,150,671.42 from 2580361 Ontario Inc. under a term loan facility limited to $1,200,000, and $267,246.02 from 2580363 Ontario Inc. across operating, HASCAP term and Visa facilities. City of Hamilton property tax arrears of $4,679.53 as at March 28, 2022 ranked ahead of the mortgage. Charges to Olympia Trust Company ($246,000, registered July 12, 2021), Alex Magis ($135,000, registered October 29, 2021) and Comfort Capital Inc. ranked behind it. The proceeding is closed.
Application Record of the Applicant dated April 11, 2022 — Application / notice of application
Debtor
2580363 Ontario Inc. and 2580361 Ontario Inc.
Receiver
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Goodman | Ontario Superior Court of Justice | 2 orders, Apr 2023 | 14 cases on record |
| Justice Parayeski | Ontario Superior Court of Justice | 2 orders, Oct 2022 – Apr 2023 | 6 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantToronto-Dominion Bank | Harrison Pensa LLP | 2 Jun 2022 | Order · 4 Oct 2022 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | The Toronto-Dominion Bank · in 121 casesGeneral Security Agreements (361 GSA and 363 GSA) dated August 21, 2019; Guarantee from 363 Ontario dated August 21, 2019 (unlimited amount); Mortgage/Charge of Land, principal sum $1,205,000, instrument WE1375722 registered August 22, 2019 over Real Property (21 Augusta Street, Hamilton), governed by Standard Charge Terms 8520; first-priority mortgage subject to Property Tax Arrears priority — 361 Obligations; Term Loan facility limit $1,200,000; cross-guaranteed with 363 Ontario — debtor: 2580361 Ontario Inc. · as of 5 Apr 2022 | $1.15M | Application Record of the Applicant dated April 11, 2022 |
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured |
5 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis 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.
Secured creditors: no distribution. City of Hamilton a distribution · The Toronto-Dominion Bank a distribution · Canada Revenue Agency a distribution.EstimatedMotion Record Returnable (Volume 1 of 2) · 12 Apr 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | subsequent mortgage holders and any other stakeholders | — | no distribution | Estimatedper the receiver | Motion Record Returnable (Volume 1 of 2) · 12 Apr 2023 |
| Secured | City of Hamilton | — | per the receiver | Motion Record Returnable (Volume 1 of 2) · 12 Apr 2023 | |
| SecuredTD (repayment of Receiver's borrowings) | The Toronto-Dominion Bank | — | per the receiver | Motion Record Returnable (Volume 1 of 2) · 12 Apr 2023 | |
| UnsecuredCRA 361 HST Trust Claim | Canada Revenue Agency | conditional | per the receiver | Motion Record Returnable (Volume 1 of 2) · 12 Apr 2023 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
4 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Brief of Authorities of the Receiver | PDF · Subscribers | |
Discharge Order dated April 27, 2023
| PDF · Subscribers | |
| Factum of the Receiver | PDF · Subscribers | |
Motion Record Returnable (Volume 1 of 2)
| PDF · Subscribers | |
| Motion Record Returnable (Volume 2 of 2) | PDF · Subscribers | |
Approval and Vesting Order dated April 23, 2023
| PDF · Subscribers | |
Order dated October 4, 2022
| PDF · Subscribers | |
Ancillary Order dated June 2, 2022
| PDF · Subscribers | |
Endorsement of the Honourable Justice MacNeil dated June 2, 2022
| PDF · Subscribers | |
Receivership Order dated June 2, 2022 and effective September 1, 2022
| PDF · Subscribers | |
Application Record of the Applicant dated April 11, 2022
| 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., “2580363 Ontario Inc. and 2580361 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/2580363-ontario-inc-and-2580361-ontario-inc