Highyon Assets Corp.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- Industry
- Real estate
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.
Motion Record of the Plaintiff Returnable March 23, 2022 — Application / notice of application
Receivership Order of the Honourable Justice Gilmore dated October 16, 2020 — Receivership order
Debtor
Highyon Assets Corp.
Receiver
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 3 orders, Mar 2022 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Receivermsi Spergel inc. | Harrison Pensa LLP | 23 Mar 2022 | Order · 23 Mar 2022 |
| Applicant | Minden Gross LLP | 16 Oct 2020 | Order · 16 Oct 2020 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 584 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 | |||
| Secured | |||
| Secured | |||
| Secured |
4 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis 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.
Closed · the record states no distribution outcome.
| Date | Document | File |
|---|---|---|
Approval and Vesting Order of the Honourable Justice Conway dated March 23, 2022
| PDF · Subscribers | |
Discharge and Ancillary Order of the Honourable Justice Conway dated March 23, 2022
| PDF · Subscribers | |
Endorsement of the Honourable Justice Conway dated March 23, 2022
| PDF · Subscribers | |
| Motion Record of the Plaintiff Returnable March 23, 2022 | PDF · Subscribers | |
| Factum of the Receiver dated March 15, 2022 | PDF · Subscribers | |
| Motion Record Returnable March 23, 2022 | PDF · Subscribers | |
Receivership Order of the Honourable Justice Gilmore dated October 16, 2020
| PDF · Subscribers | |
Motion Record Returnable October 16, 2020
| PDF · Subscribers | |
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CiteProceedings., “Highyon Assets Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/highyon-assets-corp