Fudzi International Group Inc. is the subject of a receivership application issued on October 15, 2024 in the Ontario Superior Court of Justice under subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The applicants are the lenders behind two loans to the company, both personally guaranteed by Pawel Fugiel. The first, advanced at a principal of $8,814,000.00 against a first charge on two parcels, matured on March 1, 2023 and stood at $10,087,356.25 as at September 30, 2024, accruing interest at 9.25% per annum. The second, at a principal of $3,175,000.00 against second charges, matured on April 1, 2023 and stood at $3,776,062.56, accruing at 12.50%. Demand letters and notices of intention to enforce security went out on April 28, 2023.
The court granted an approval and vesting order for the sale to 1001437526 Ontario Inc. Closing terms, as extracted: Vesting is effective upon delivery of the Receiver's certificate to the Purchaser, substantially in the form of Schedule A, confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the Transaction to the Receiver's satisfaction. Sealed: Confidential Appendices '1', '2', '3' and '4' to the Receiver's First Report, including the Sale Agreement.
The lenders behind both loans applied on October 15, 2024 for the appointment of a receiver over Fudzi International Group Inc. under subsection 243(1) and section 101.
Loan 1 Lenders (Peter Adamo, Crocetta Adamo, G.A.P Farms Inc., Taxmart Inc., Filbitron Marketing Corp 2018 Ltd., Fonte Santa Inc., Cinzia Camarda, Antonini Family Holdings Inc., M Antonini Holdings InFirst ranking Charge Instrument No. SN715089 (principal $8,814,000.00) against Parcel 1 and Parcel 2; General Security Agreement/PPSA Registration No. 20220301 1637 1590 0565 (FIG) and No. 20220301 1644 1590 0570 (Fugiel); General Assignment of Rents Instrument No. SN715090 — Loan 1 principal was $8,814,000.00 (original advance); outstanding balance as of Sept 30, 2024 is $10,087,356.25 with interest accruing at 9.25% per annum plus legal fees/disbursements. Loan matured March 1, 2023; demand letter and NOI issued April 28, 2023 (Loan 1 Demand), ten-day period expired. Also guaranteed personal · as of 30 Sep 2024
$10.1M
Application Record
Secured
Secured
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5 more claims in 1 class The stack holds Secured claims.
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.
Sale processAs stated in the filings
Sale approved — The Court approved the Transaction between the Receiver and 1001437526 Ontario Inc. and vested the Purchased Assets (two Niagara Falls properties) in the Purchaser upon delivery of the Receiver's Certificate.Approval and Vesting Order · 13 Mar 2026
Purchaser
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1001437526 Ontario Inc.Debtors' right, title and interest in the Purchased Assets, being the real properties at 5592 Robinson Street and 6158 Allendale Avenue, Niagara Falls, Ontario · real property · agreement 11 Feb 2026
Closing termsVesting is effective upon delivery of the Receiver's certificate to the Purchaser, substantially in the form of Schedule A, confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the Transaction to the Receiver's satisfaction.Approval and Vesting Order
Sealed materialsConfidential Appendices '1', '2', '3' and '4' to the Receiver's First Report, including the Sale AgreementApproval and Vesting Order
Documents7 filings
Date
Document
File
Approval and Vesting Order
Closing termsVesting is effective upon delivery of the Receiver's certificate to the Purchaser, substantially in the form of Schedule A, confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the Transaction to the Receiver's satisfaction.
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Fudzi International Group Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/fudzi-international-group-inc
Sources last checked · summary updated 1 September 2026 · Report a correction · Printed from proceedings.ca/case/fudzi-international-group-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.