Cutting Edge Precision Services ULC, Proper Windsor Holdings ULC and SGM Real Estate Holdings ULC
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-22-00688427-00CL
Cutting Edge Precision Services ULC, Proper Windsor Holdings ULC and SGM Real Estate Holdings ULC were placed in receivership by order of the Ontario Superior Court of Justice on October 12, 2022, on the application of The Toronto-Dominion Bank, under court file CV-22-00688427-00CL. TD holds a charge registered September 1, 2022 against SGM's real property at 3230 Moynahan Street, Oldcastle, securing $2,500,000, alongside blanket PPSA registrations; the Business Development Bank of Canada holds an earlier $2,500,000 charge on the same property, registered September 28, 2020, and blanket PPSA registrations against Proper Windsor. An approval and vesting order provides for both charges to be discharged from title on closing of the sale of the SGM property, and the related purchase agreement carves out equipment subject to Meridian's security. The proceeding remains active.
Motion Record of the Receiver (for motion returnable July 29, 2024) — Application / notice of application
16 earlier updates, back to 12 October 2022 — subscribers.
Debtor
File Documents
Receiver
Albert Gelman
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Kimmel | Ontario Superior Court of Justice | 4 orders, Oct 2022 | 182 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Jul 2024 | 220 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Nov 2022 | 288 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlbert Gelman | Aird & Berlis LLP | 23 Nov 2022 | Factum · 23 Nov 2022 |
| ApplicantToronto-Dominion Bank | Chaitons LLP | 12 Oct 2022 | Order · 12 Oct 2022 |
| CreditorToronto-Dominion Bank | Kestenberg Siegal Lipkus LLP | 21 Oct 2022 | Order · 21 Oct 2022 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | The Toronto-Dominion Bank · in 111 casesCharge registered September 1, 2022 (Land Registry Instrument No. CE1099384) against 3230 Moynahan Street, Oldcastle, Ontario, securing the sum of $2,500,000 (registered principal, not stated as an outstanding balance); related Notice of Assignment of Rents General (Instrument No. CE1099385); also a Notice registered January 7, 2022 (Instrument No. CE1054405, amount not stated); also PPSA registrations covering all present and after-acquired personal property (Ontario File No. 722185578, registered November 3, 2016, renewed September 20, 2021; BC Base Registration No. 438137N, PPSA Security Ag | — | First Report of the Receiver (for motion returnable November 23, 2022) (2 of 2) |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
This 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.
2 transactions · 2 closed — Sale transactions completed and closedSecond Report of the Receiver (for motion returnable July 29, 2024) · 17 Jul 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 3305 Deziel Inc. and Arlen Tool Co. Ltd.the Purchased Assets (other than the Real Property) · real property · nominee/assignee: a corporation to be incorporated · agreement 4 Nov 2022 | Subscribers | Closed25 Nov 2022 | Second Report of the Receiver (for motion… |
| Arlen Tool Co. Ltd.the business assets of CEPS including its accounts receivable, inventory and work-in-process, motor vehicles, chattels, office furniture, equipment, contracts, client files and goodwill · asset sale · agreement 4 Nov 2022 | Subscribers | Closed | Second Report of the Receiver (for motion… |
Business Development Bank of Canada: a distribution.EstimatedMotion Record of the Receiver (for motion returnable November 23, 2022)… · 14 Nov 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredBDC | Business Development Bank of Canada | — | a distribution | Estimatedper the receiver | Motion Record of the Receiver (for motion returnable November 23, 2022)… · 14 Nov 2022 |
| Secured | CWB National Leasing Inc. | — | a distribution | Estimatedper the receiver | Motion Record of the Receiver (for motion returnable November 23, 2022)… · 14 Nov 2022 |
| Secured | TD Bank | — | not yet estimated | per the receiver | First Report of the Receiver (for motion returnable November 23, 2022)… · 14 Nov 2022 |
| SecuredTD Bank | Toronto-Dominion Bank | — | a distribution | Estimatedper the receiver | Motion Record of the Receiver (for motion returnable November 23, 2022)… · 14 Nov 2022 |
| UnsecuredSGM: HST deemed trust | CRA | — | a distribution | Estimatedper the receiver | Motion Record of the Receiver (for motion returnable November 23, 2022)… · 14 Nov 2022 |
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.
6 engagements · 4 firms — latest: A&B, —Second Report of the Receiver (for motion · 29 Jul 2024
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| (firm not named)Counsel to the receiverperiod 3 of 3 · firm not named in the heading | —Sought | — | — | — | Motion Record of the Receiver (for motion returnable November 23, 2022)… · 23 Nov 2022 |
| (firm not named)Receiverperiod 3 of 3 · firm not named in the heading | — | — | — | — | First Report of the Receiver (for motion returnable November 23, 2022)… · 23 Nov 2022 |
| (firm not named)Receiverperiod 3 of 3 · firm not named in the heading | — | — | — | — | Motion Record Record of the Receiver (for motion returnable November… · 23 Nov 2022 |
| A&Bcapacity not stated | — | — | — | — | Second Report of the Receiver (for motion · 29 Jul 2024 |
| Aird & Berlis LLPCounsel to the receiver | —Sought | — | — | — | First Report of the Receiver (for motion returnable November 23, 2022)… · 23 Nov 2022 |
| Albert Gelman Inc.Receiver | —Sought | — | — | — | Second Report of the Receiver (for motion · 29 Jul 2024 |
Cash on hand
$52.6K
As at 29 Jul 2024Second Report of the Receiver (for motion returnable July 29, 2024)
| Date | Document | File |
|---|---|---|
Court Order of Justice Steele dated July 29, 2024
| PDF · Subscribers | |
Endorsement of Justice Steele dated July 29, 2024
| PDF · Subscribers | |
| Motion Record of the Receiver (for motion returnable July 29, 2024) | PDF · Subscribers | |
Second Report of the Receiver (for motion returnable July 29, 2024)
| PDF · Subscribers | |
Ancillary Order of Justice Cavanagh dated November 23, 2022
| PDF · Subscribers | |
Approval and Vesting Order of Justice Cavanagh to 3305 Deziel Inc. and Arlen Tool Co. Ltd. dated November 23, 2022
| PDF · Subscribers | |
Approval and Vesting Order of Justice Cavanagh to 3305 Deziel Inc. dated November 23, 2022
| PDF · Subscribers | |
Counsel Slip TD v. Cutting Edge dated November 23, 2022
| PDF · Subscribers | |
Factum of the Receiver (for motion returnable November 23, 2022)
| PDF · Subscribers | |
First Report of the Receiver (for motion returnable November 23, 2022) (1 of 2)
| PDF · Subscribers | |
First Report of the Receiver (for motion returnable November 23, 2022) (2 of 2)
| PDF · Subscribers | |
Motion Record Record of the Receiver (for motion returnable November 23, 2022) (2 of 2)
| PDF · Subscribers | |
Motion Record of the Receiver (for motion returnable November 23, 2022) (1 of 2)
| PDF · Subscribers | |
| Service List as of November 18, 2022 | PDF · Subscribers | |
Amended and Restated Receivership Appointment Order of Justice Kimmel dated October 21, 2022
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated October 21, 2022
| PDF · Subscribers | |
| Application Record of the Toronto-Dominion Bank (for motion returnable October 12, 2022) | PDF · Subscribers | |
Endorsement of Justice Kimmel dated October 12, 2022
| PDF · Subscribers | |
Receivership Appointment Order of Justice Kimmel dated October 12, 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., “Cutting Edge Precision Services ULC, Proper Windsor Holdings ULC and SGM Real Estate Holdings ULC” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/cutting-edge-precision-services-ulc-proper-windsor-holdings-ulc-and-sgm-real-est