Peace Bridge Duty Free Inc.

Peace Bridge Duty Free Inc. has been in a court-appointed receivership since January 29, 2024, brought under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding remains active. Royal Bank of Canada is the debtor's only secured creditor registered under the Ontario Personal Property Security Act, holding a general security agreement and a PPSA registration securing credit facilities advanced under a credit agreement dated July 20, 2018, as amended. RBC's demand letter and section 244(1) notice put its claim at approximately $4.7 million in principal and interest as at September 22, 2021, exclusive of legal fees, disbursements and accruing interest.