IDC Technologies (Canada) Inc., in Receivership
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- File
- CV-24-00730132-00CL
IDC Technologies (Canada) Inc. is in receivership. The Toronto-Dominion Bank, holder of a general security agreement dated April 27, 2018 registered under Ontario's Personal Property Security Act and the only registered general secured creditor against the debtor, issued a demand letter dated August 14, 2024 asserting $7,601,255.35 owing as at August 13, 2024. The parties then entered a Forbearance Agreement dated October 3, 2024, which restated the indebtedness at $7,161,247.85 as at September 25, 2024, comprising the Demand Operating Facility and a $1,000 discharge fee, and added a $50,000 forbearance fee, fully earned on execution. The borrower acknowledged that TD's security remained undischarged and its demand had not been withdrawn.
Application Record of the Applicant The Toronto-Dominion Bank dated November 15, 2024 was filed. Court file CV-24-00730132-00CL.
Source: Application Record of the Applicant The Toronto-Dominion Bank dated November 15, 2024.
Debtor
IDC Technologies (Canada) Inc., in Receivership
Receiver
Albert Gelman
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | The Toronto-Dominion Bank · in 112 casesGeneral security agreement dated April 27, 2018, registered under the Personal Property Security Act (Ontario); grants TD Bank a security interest in all of the Debtor's present and after-acquired personal property. TD Bank is stated to be the only registered general secured creditor under the PPSA against the Debtor. — Demand Letter dated August 14, 2024 stated $7,601,255.35 owing as at August 13, 2024 (principal $7,582,571.91 + interest $18,683.44), exclusive of legal fees, disbursements and accruing interest. Forbearance Agreement dated October 3, 2024 updates the Indebtedness to $7,161,247 · as of 25 Sep 2024 | $7.16M | Application Record of the Applicant The Toronto-Dominion Bank dated November 15, 2024. |
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.
| Date | Document | File |
|---|---|---|
Court Endorsement dated December 9, 2024;
| PDF · Subscribers | |
Appointment Order dated December 2, 2024;
| PDF · Subscribers | |
Application Record of the Applicant The Toronto-Dominion Bank dated November 15, 2024.
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Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “IDC Technologies (Canada) Inc., in Receivership” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/idc-technologies-canada-inc-in-receivership