#Filing
Aide-Memoire of the Receiver (Motion for Discharge Returnable on October 7 2024) dated — Application / notice of application
2722959 Ontario Ltd. and 2156775 Ontario Inc.
FollowActive
- Proceeding
- Receivership (court-appointed)section 101 of the Courts of Justice Act
- File
- CV-22-00684100-00CL
Filings held30
Last activity7 Oct 2024
On the record1,418 days
Secured debt$625K
OverviewSummary updated
2722959 Ontario Ltd. and 2156775 Ontario Inc. have been under the receivership of MNP Ltd. since November 3, 2022, when the Ontario Superior Court of Justice appointed MNP on the application of Canadian Western Bank under section 101 of the Courts of Justice Act, in an investigatory, non-possessory capacity (Court File No. CV-22-00684100-00CL). CWB holds a general security agreement dated April 5, 2022 from 2722959 supporting facilities of $100,000 and $500,000 demand loans and a $25,000 corporate credit card, of which $500,000 was advanced April 7, 2022. 2722959's unaudited balance sheet at January 31, 2022 shows assets of $17,741,383 against liabilities of $19,000,437. Claims against 2156775 include trade payables of $22,248,477 at February 4, 2021, CRA deemed trust claims of $7,878,261 for unremitted HST and $71,046 in source deductions, and $273,906.53 under sixteen Ministry of Labour Orders to Pay.
Proceedings AIAsk this case — answers cite the filings
Case updates30 dated entries
#Filing
Motion Record of the Receiver (Re: Motion for Discharge) Returnable on October 7, 2024 — Application / notice of application
#Report
The officer filed report no. Second Report. The Debtors ceased all business operations around May 12, 2022; the receivership has been non-possessory and investigatory in nature, focused on investigating the Debtors' affairs, facilitating settlements over disputed water fee funds, and winding down remaining administrative matters (records disposal) before seeking discharge.
Source: Second report to the Court dated
#Filing
Reply to the Cost Submissions Submitted by the City of Mississauga — Response / objection pleading
#Filing
Reply to the Cost Submissions Submitted by the Regional Municipality of Peel — Response / objection pleading
#Filing
Responding Motion Record of the Corporation of the city of Mississauga (returnable on May 24, 2023) dated — Response / objection pleading
#Filing
Supplementary Motion Record (returnable on May 24, 2023) — Application / notice of application
#Order
On Canadian Western Bank's application, the court appointed MNP Ltd. as investigatory, non-possessory receiver of both companies under section 101 of the Courts of Justice Act.
Source: Appointment Order dated
#Filing
Application filed in the Ontario Superior Court of Justice under court file CV-22-00684100-00CL, commencing the receivership proceedings against both companies.
Source: Notice of Application dated
Parties
Debtor
2722959 Ontario Ltd. and 2156775 Ontario Inc.
Receiver
MNP
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Osborne | Ontario Superior Court of Justice | 2 orders, Nov 2022 | 146 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Reconstruct LLP | 23 Jan 2023 | Service list · 23 Jan 2023 |
| ApplicantCanadian Western Bank | Miller Thomson LLP | 14 Jul 2022 | Application · 14 Jul 2022 |
| Debtor2722959 Ontario Ltd. and 2156775 Ontario Inc. | Lo Greco Stilman LLP | 23 Jan 2023 | Service list · 23 Jan 2023 |
| CreditorCJR Wholesale Grocers Ltd | AFFLECK GREENE McMURTRY LLP | 23 Jan 2023 | Service list · 23 Jan 2023 |
| CreditorEastgate Group Inc | Keyser Mason Ball, LLP | 2 Sep 2022 | Affidavit · 2 Sep 2022 |
| CreditorVelox Staffing Solutions Inc | Professional Corporation | 17 Jul 2023 | Service list · 17 Jul 2023 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Canadian Western Bank · in 80 casesas of approximately, per commitment letter April 4, 2022 — General Security Agreement dated April 5, 2022; Assignment and Postponement Agreements from 215 and Ms. Runaghan — Facility limit: $100,000 demand loan, $500,000 non-revolving demand loan, $25,000 corporate credit card; $500,000 advanced April 7, 2022; security opinion confirms valid and enforceable against 272 and effective against a trustee in bankruptcy — debtor: 2722959 Ontario Inc. | $625K | First Report of the Receiver dated |
| 4 | Secured | Ms. Gemma Runaghanas of registration date (unstated, per PPSA search current April 12, 2023) — Security interest in 272's personal property — Related party (shareholder); registered amount, not confirmed balance; Receiver has not sought legal opinion on validity/enforceability — debtor: 2722959 Ontario Inc. | $450K | First Report of the Receiver dated |
| 4 | Secured | Norseman Truck & Trailer Services Ltd.as of June 2, 2022 (registration date) — 2 Trailmobile Vans — Vehicle financing; registered amount — debtor: 2156775 Ontario Inc. | $19.4K | First Report of the Receiver dated |
| 4 | Secured | Toronto Dominion Bank · in 35 casesas of March 20, 2012 (registration date) — Alleged general security interest — Registered amount not stated (N/A) — debtor: 2156775 Ontario Inc. | — | First Report of the Receiver dated |
| 4 | Secured | Arizona Beverages USA LLCas of September 27, 2019 (late renewal of September 25, 2009 registration) — Alleged general security interest — Registered amount not stated (N/A) — debtor: 2156775 Ontario Inc. | — | First Report of the Receiver dated |
| 4 | Secured | CWB · in 5 casesas of April 6, 2022 (registration date) — Assignment and Postponement Agreement — PPSA registration against 215; no registered amount stated — debtor: 2156775 Ontario Inc. | — | First Report of the Receiver dated |
| 4 | Secured | Mr. Frank D'Angeloas of February 18, 2021 (registration date) — Alleged general security interest; PPSA registered amount of $20 million (registration ceiling, not a balance) — Related party (215's sole officer/director; Debtors' directing mind) — debtor: 2156775 Ontario Inc. | — | First Report of the Receiver dated |
| 4 | Secured | Ms. Gemma Runaghanas of February 18, 2021 (registration date) — Alleged general security interest; PPSA registration in amount of $100 million (registered amount, not a balance) — Related party (272's sole shareholder, officer, director; Mr. D'Angelo's common law spouse); registration also made against 272's assets for $450,000; validity/enforceability opinion not sought by Receiver — debtor: 2156775 Ontario Inc. | — | First Report of the Receiver dated |
| 5 | PMSI / lessors | PPSA equipment financiers (PMSI class) · in 183 casesas of various registration dates 2017-2022, per PPSA search current April 12, 2023 — Serialized equipment/vehicles: Summit Lease (2019 Volvo VNL x2, $117,209 each registered amount); Tricor Lease & Finance Corp. (2021 Ford Mustang, $92,191); Ford Credit Canada Leasing (2021 Ford F150); Tricor Lease & Finance Corp./Summit Lease (2020 Jaguar I-Pace, $89,500); Blue Chip Leasing Corporation (2 x 2020 Heli forklifts); Toyota Industries Commercial Finance Canada Inc. (materials handling equipment); De Lage Landen Financial Services Canada Inc. (2019 Heli forklift); Penske Truck Leasing (2 x 2019 Vol | — | First Report of the Receiver dated |
| 7 | Preferred (BIA s. 136) | Ontario Ministry of Labour (Orders to Pay - former employees) · in 3 casesas reported per Orders to Pay — Preferred: wages ($82,094.17), vacation pay ($43,511.32), overtime pay ($1,416.91), public pay ($2,014.54), termination pay ($68,019.31), severance pay ($51,949.68), administrative fee ($24,900.60); may constitute deemed trust claims under the Employment Standards Act ranking in priority to other creditors — debtor: 2156775 Ontario Inc. | $274K | First Report of the Receiver dated |
| 8 | Unsecured | Sherfam Inc.as of 2021 financial statements — Related party (family holding company of the Barry Sherman estate; shareholder); unsecured advances — debtor: 2156775 Ontario Inc. | $120M | First Report of the Receiver dated |
| 8 | Unsecured | Trade accounts payable (aggregate as reported) · in 2 casesDocument names no individual creditors for this aggregate figure; includes rent arrears of approximately $5.1 million (Eastgate) plus approximately $299,938 (Tomken Premises) referenced separately — debtor: 2156775 Ontario Inc. · as of 4 Feb 2021 | $22.2M | First Report of the Receiver dated |
| 8 | Unsecured | 272 - Accounts Payable (aggregate as reported)Document names no individual creditors for this aggregate; comparative balance sheet also shows $11,891,530 as at August 31, 2021 (note: use later date column) — debtor: 2722959 Ontario Inc. · as of 31 Jan 2022 | $14.3M | First Report of the Receiver dated |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesUnremitted HST; deemed trust claim, may rank in priority to other secured and unsecured creditor claims — debtor: 2156775 Ontario Inc. · as of 1 Dec 2021 | $7.88M | First Report of the Receiver dated |
| 8 | Unsecured | Rovinelli Holdings Ltd. / Eastgate Group Inc. (Landlords - rent arrears)Approximate rent arrears plus costs in respect of Eastgate Locations; component of larger accounts payable figure — debtor: 2156775 Ontario Inc. · as of 4 Feb 2021 | $5.1M | First Report of the Receiver dated |
| 8 | Unsecured | Arizona Beverages USA LLCPurportedly owing by 215 to Arizona under promissory notes; disputed; not confirmed by Receiver — debtor: 2156775 Ontario Inc. · as of 30 Sep 2022 | $4.6M | First Report of the Receiver dated |
| 8 | Unsecured | Arizona Beverages USA LLC (ABC)Purportedly owing to ABC under promissory note(s); disputed; not confirmed by Receiver — debtor: 2156775 Ontario Inc. · as of 30 Sep 2022 | $1.6M | First Report of the Receiver dated |
| 8 | Unsecured | Langer Juice Co. Inc.Disputed claim for damages relating to spoiled inventory; not reflected in 215 and/or 272's financial statements — debtor: 2156775 Ontario Inc. | $667K | First Report of the Receiver dated |
| 8 | Unsecured | Landlord (Tomken Premises) · in 12 casesRent arrears re Tomken Premises; component of larger accounts payable figure — debtor: 2156775 Ontario Inc. · as of 4 Feb 2021 | $300K | First Report of the Receiver dated |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesUnremitted source deductions; deemed trust claim, may rank in priority to other secured and unsecured creditor claims — debtor: 2156775 Ontario Inc. · as of 1 Dec 2021 | $71K | First Report of the Receiver dated |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
RecoveriesAs stated in the filings
Unsecured creditors: no distribution. Rovinelli Holdings Inc. a distribution · Canada Revenue Agency a distribution.EstimatedSecond report to the Court dated · 2 Oct 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Landlord | Rovinelli Holdings Inc. | — | a distribution | per the receiver | Aide-Memoire of the Receiver (Motion for Discharge Returnable on… · 7 Oct 2024 |
| Unsecured | Rovinelli, Eastgate or any other creditors | — | no distributionconditional | Estimatedper the receiver | Second report to the Court dated · 2 Oct 2024 |
| UnsecuredCRA (deemed trust - unremitted HST and source deductions) | Canada Revenue Agency | — | a distribution | per the receiver | Aide-Memoire of the Receiver (Motion for Discharge Returnable on… · 7 Oct 2024 |
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.
Fees and ratesAs stated in the filings
1 engagement · 1 firm — MNP Ltd., —Second report to the Court dated · 2 Oct 2024
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| MNP Ltd.Receiverfirm not named in the heading | — | 105.8 | — | $537.65stated average | Second report to the Court dated · 2 Oct 2024 |
Estate financialsReported figures — never derived
Total assets at filing$17.7M
Total liabilities at filing$19M
As at 31 Jan 2022 · per Unaudited financial statements · entity - 2722959 Ontario Inc. only — Total liabilities not stated by document; components: current liabilities $14,272,112 (bank indebtedness $6,466 nil in this period per table, accounts payable $14,265,646, income taxes payable nil) plus long-term due to shareholder $2,588,298 and due to 2156775 Ontario Inc. $2,139,026 (long-term subtotal $4,727,324); deficit -$1,258,054; comparative August 31, 2021 column shows total assets $16,023,913. 215's balance sheet as at Feb 4, 2021 is presented as an image/table on page 9 but full liability total not extracted verbatim here beyond accounts payable of $22,248,477 already reported as un
Documents
30 filings
| Date | Document | File |
|---|---|---|
Aide-Memoire of the Receiver (Motion for Discharge Returnable on October 7 2024) dated
| ||
| Motion Record of the Receiver (Re: Motion for Discharge) Returnable on October 7, 2024 | ||
Second report to the Court dated
| ||
| Reply to the Cost Submissions Submitted by the City of Mississauga | ||
| Reply to the Cost Submissions Submitted by the Receiver | ||
| Reply to the Cost Submissions Submitted by the Regional Municipality of Peel | ||
| Submissions of Canadian Western Bank dated | ||
| Abbreviated Book of Authorities | ||
| Factum of the Corporation of the City of Mississauga | ||
Letter to Service List
| ||
| Revised Confirmation of Motion | ||
| Book of Authorities of the Respondent | ||
| Factum of the Respondent | ||
| Second Supplement Motion Record Vol1 | ||
| Second Supplement Motion Record Vol2 | ||
| Responding Motion Record of the Corporation of the city of Mississauga (returnable on May 24, 2023) dated | ||
| Supplementary Motion Record (returnable on May 24, 2023) | ||
| Supplementary Responding Motion Record dated | ||
First Report of the Receiver dated
| ||
| Motion Record dated | ||
| Motion Record (returnable on March 15, 2023) dated | ||
Endorsement of Madam Justice Steele dated
| ||
Service List as of
| ||
Appointment Order dated
| ||
Endorsement of Mr. Justice Osborne dated
| ||
| Amended Application Record dated | ||
Affidavit of Eugene Rovinelli sworn on
| ||
Endorsement of Mr. Justice McEwen dated
| ||
| Affidavit of Rod Randall sworn on | ||
Notice of Application dated
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “2722959 Ontario Ltd. and 2156775 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/2722959-ontario-ltd-and-2156775-ontario-limited