9449167 Canada Inc. Shell Gas Station

9449167 Canada Inc. remains in court-appointed receivership, with MNP Ltd. acting as receiver over the company's building and land at 1230 Brookdale Avenue, Cornwall. The Business Development Bank of Canada obtained the appointment in the Ontario Superior Court of Justice on March 29, 2019 under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, court file CV-19-00079639-0000, and the receiver took possession or control of the property on April 2, 2019. The receiver states the property at $840,000. BDC's secured claim stands at $1,070,058, resting on a first ranking mortgage registered April 14, 2016 in the principal amount of $1,010,000 and a General Security Agreement dated April 4, 2016, with director guarantees for 25% of the outstanding loan balance. The City of Cornwall claims $65,448 in property taxes and 2323225 Ontario Inc. $250,000, each secured on the Brookdale Avenue property.