421342 Ontario Limited
Follow- 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
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.
The receiver's report noted the Ontario Superior Court of Justice's appointment order dated February 10, 2023.
Source: First Report of the Receiver dated February 23, 2023 with Exhibits_421342 Ontario Limited
2 earlier updates, back to 10 February 2023 — subscribers.
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 | 220 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 |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 556 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 |
Closed · the record states no distribution outcome.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| 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 20 September 2026, https://proceedings.ca/case/421342-ontario-limited