421342 Ontario Limited
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the "BIA") and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended (the "CJA")
- File
- CV-23-00693550-00CL
- Industry
- Retail · Vehicle dealers
421342 Ontario Limited was placed in receivership by order of the Ontario Superior Court of Justice on February 10, 2023, on the application of the Royal Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, with Raymond Chabot Inc. appointed receiver under court file CV-23-00693550-00CL. The proceeding is active. The Royal Bank of Canada held a secured claim of $8,624,820.00 under a general security agreement over vehicles, equipment, inventory and receivables, against security estimated at $5,090,854.64. A statement of affairs sworn January 27, 2023, stated a deficiency of $5,177,359.59. Unsecured creditors included 131211 Canada Inc. at $866,611.98 and 2539189 Ontario Inc. at $330,129.71.
First Report of the Receiver dated February 23, 2023 with Exhibits_421342 Ontario Limited — Court officer report
The Ontario Superior Court of Justice appointed Raymond Chabot Inc. receiver of the company on Friday, February 10, 2023.
Source: Order_421342 Ontario Limited
Debtor
421342 Ontario Limited
Receiver
Raymond Chabot
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Jan 2023 – Sep 2025 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverRaymond Chabot | Soloway Wright LLP | 8 Sep 2025 | Distribution and Discharge Order · 8 Sep 2025 |
| ApplicantRoyal Bank of Canada | Soloway Wright LLP | 25 Jan 2023 | Order · 25 Jan 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 584 casesGSA; VEH - Motor vehicles (groups 1-5 of 5); MEP - Various shop equipment (8 hoists, 1 alignment track, 1 tire machine, 1 wheel balancer, shop tools, 4 storage cans); FUR - Office furniture and computer equipment; INV - inventory (tires, rims, oil, parts, misc.); REC - Accounts receivable; OTH - Intellectual property — Estimated value of security $5,090,854.64; unsecured balance of claim estimated at $3,533,965.36 per List B — debtor: 421342 Ontario Limited · as of 25 Jan 2023 | $8.62M | 421342 Ontario Limited_Avis de faillite |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 6 | Landlord preferred | |||
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
61 more claims in 3 classes The stack holds Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansClosed · the record states no distribution outcome.
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Distribution and Discharge Order_421342 Ontario Limited
| PDF · Subscribers | |
First Report of the Receiver dated February 23, 2023 with Exhibits_421342 Ontario Limited
| PDF · Subscribers | |
| Notice and statement of Receiver_421342 Ontario Limited | PDF · Subscribers | |
421342 Ontario Limited_Avis de faillite
| PDF · Subscribers | |
Order_421342 Ontario Limited
| 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., “421342 Ontario Limited” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/421342-ontario-limited