#Order
Approval and Vesting Order of the Honourable Justice Conway dated March 23, 2022 — Order (other)
Highyon Assets Corp.
FollowClosed
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Filings held8
Last activity23 Mar 2022
On the record2,166 days
Secured debt$840K
OverviewSummary updated
Highyon Assets Corp. was placed in court-appointed receivership on October 16, 2020 in the Ontario Superior Court of Justice under section 243 of the BIA and provincial Judicature Act authority, on the application of Royal Bank of Canada. RBC stated $839,537.61 owing in respect of the Facilities as at October 2, 2020, excluding fees, costs or other charges, following a demand letter dated July 14, 2020; its statement of claim set out components as at October 2, 2020 of $853,768.64 on the term loan and $71,068.94 on the line of credit. RBC held a June 14, 2018 general security agreement, a $900,000 collateral mortgage registered June 22, 2018 as instrument YR2840572, guarantees from Bing Pu and Shuyan Xu, and a guarantee and GSA from Highyon Realty Inc. The proceeding is closed.
Proceedings AIAsk this case — answers cite the filings
Case updates8 dated entries
#Filing
Motion Record of the Plaintiff Returnable March 23, 2022 — Application / notice of application
#Order
Receivership Order of the Honourable Justice Gilmore dated October 16, 2020 — Receivership order
Parties
Debtor
Highyon Assets Corp.
Receiver
msi Spergel inc.
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 3 orders, Mar 2022 | 285 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Receivermsi Spergel inc. | Harrison Pensa LLP | 23 Mar 2022 | Order · 23 Mar 2022 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 556 casesGeneral Security Agreement (June 14, 2018) - first ranking security interest in all personal property; Collateral Mortgage registered as instrument YR2840572 on June 22, 2018, principal amount $900,000, first fixed charge on the Property; Guarantee and Postponement of Claim by Bing Pu and Shuyan Xu ($900,000 limit); Guarantee and GSA of Highyon Realty Inc. ($900,000 limit) — Amount stated as owing 'in respect of the Facilities' as of October 2, 2020 (excluding fees, costs or other charges). Demand letter dated July 14, 2020 stated indebtedness as at July 13, 2020 comprising: (1) fixed rate ter · as of 2 Oct 2020 | $840K | Motion Record Returnable October 16, 2020 |
| Secured | Royal Bank of Canada · in 556 casesGeneral Security Agreement over all personal property of Highyon Realty Inc. — Total amount of indebtedness secured by the GSA per Notice of Intention to Enforce Security under s.244(1) BIA, plus legal and other expenses. — debtor: Highyon Realty Inc. · as of 13 Jul 2020 | $756 | Motion Record Returnable October 16, 2020 |
| Secured | Guohui LiangMortgage in the amount of $2,800,000 registered on title to the Property as instrument YR3117703 (registered principal, not a stated balance) — Registered on title without RBC's authorization or consent, in breach of Loan Agreement's Charge Covenant; discovered via title search July 13, 2020. — debtor: Highyon Assets Corp. · as of 10 Jul 2020 | — | Motion Record Returnable October 16, 2020 |
| Secured | Roger LamMortgage in the amount of $200,000 registered on title to the Property as instrument YR3052188 (registered principal, not a stated balance) — Registered on title without RBC's authorization or consent, in breach of Loan Agreement's Charge Covenant. — debtor: Highyon Assets Corp. · as of 2 Jan 2020 | — | Motion Record Returnable October 16, 2020 |
| Secured | Margaret HuiMortgage in the amount of $150,000 registered on title to the Property as instrument YR2904645 (registered principal, not a stated balance) — Registered on title without RBC's authorization or consent, in breach of Loan Agreement's Charge Covenant; ranks after RBC mortgage in registration order. — debtor: Highyon Assets Corp. · as of 3 Dec 2018 | — | Motion Record Returnable October 16, 2020 |
“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.
RecoveriesAs stated in the filings
Closed · the record states no distribution outcome.
Documents8 filings
| Date | Document | File |
|---|---|---|
Approval and Vesting Order of the Honourable Justice Conway dated March 23, 2022
| ||
Discharge and Ancillary Order of the Honourable Justice Conway dated March 23, 2022
| ||
Endorsement of the Honourable Justice Conway dated March 23, 2022
| ||
| Motion Record Returnable March 23, 2022 | ||
| Motion Record of the Plaintiff Returnable March 23, 2022 | ||
| Factum of the Receiver dated March 15, 2022 | ||
Motion Record Returnable October 16, 2020
| ||
Receivership Order of the Honourable Justice Gilmore dated October 16, 2020
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Highyon Assets Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/highyon-assets-corp