Novo Plastics Inc. and 2139654 Ontario Limited

Novo Plastics Inc. and 2139654 Ontario Limited were placed in receivership on September 15, 2026, when the Ontario Superior Court of Justice (Commercial List) appointed Deloitte Restructuring Inc. as receiver on the application of The Toronto-Dominion Bank, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. As of April 10, 2026, TD was owed CAD $29,630,230.57 plus USD $282,999.96, exclusive of accruing interest and costs, the largest component being a $21,001,900.87 term facility owing by 2139654 Ontario Limited. The bank's security includes general security agreements over all present and after-acquired personal property, a first charge registered January 10, 2023 in the principal amount of $26,500,000 against 388 Markland Street, Markham, an assignment of leases, and unlimited cross-guarantees from each debtor. The proceeding is active under court file CL-26-00000153-0000.