Eveley International Corporation

Eveley International Corporation was placed into court-appointed receivership in the Ontario Superior Court of Justice on June 25, 2020, under BIA s. 243 and provincial Judicature Act authority, and the proceeding is now closed. The application for an interim receiver was brought by Canadian Equipment Finance & Leasing Inc., described as one of the company's general secured creditors, holding general security under what the record calls the CEFL 1&2 loan documents; no balance was stated. 2565968 Ontario Inc., which also acted as the company's former landlord, held a $1,000,000 promissory note carrying an assumed 10% annual interest rate and had entered a formal deferral agreement. Company-reported accounts payable aging showed $764,975 owing to suppliers and trade creditors as at March 31, 2020, with a later balance of $514,613 as at April 30, 2020, including $283,000 owed to 2565968 Ontario Inc.