Ramo Canada Inc.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-23-00709616-00CL
Ramo Canada Inc. is subject to a court-appointed receivership under BIA s. 243 and provincial Judicature Act authority, with the case listed as active. The Toronto-Dominion Bank asserts indebtedness of $1,488,308.08 as at November 6, 2023, comprising an operating loan, Visa business card balance, overdraft and lease amounts, secured by a General Security Agreement dated September 26, 2022 over the debtor's personal property and by title reservation over four 2021 Hyundai trailers, plus an unlimited personal guarantee from principal Raycho Genov. A separate CEBA loan of $60,000.00 is owed to the Bank but excluded from that total. A further group of equipment-specific PPSA lessors and asset lenders, including VFS Canada, BDC, Wells Fargo Equipment Finance, PACCAR Financial and others, hold purchase-money security interests against specific vehicles and equipment and were served with the receivership motion; their individual claim amounts are not stated in the record.
3 earlier updates, back to 21 November 2023 — subscribers.
Debtor
Ramo Canada Inc.
Receiver
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Kimmel | Ontario Superior Court of Justice | 1 order, Nov 2023 | 182 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorRamo Canada Inc. | Rothstein LLP | 23 Nov 2023 | Service list · 23 Nov 2023 |
| CreditorBusiness Development Bank of Canada | Miller Thomson LLP | 23 Nov 2023 | Service list · 23 Nov 2023 |
| CreditorToronto-Dominion Bank | Harrison Pensa LLP | 17 Nov 2023 | Factum · 17 Nov 2023 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | The Toronto-Dominion Bank · in 111 casesGeneral Security Agreement dated September 26, 2022 (all present and after-acquired personal property of the Debtor, all present and future obligations to the Bank); Title reservation and security under Leasing Agreement dated November 25, 2020 (assigned to the Bank) over four (4) 2021 Hyundai 53x102' Air Ride Dry Van Composite trailers; perfected by PPSA financing statement registrations against the Debtor — Defined term 'Indebtedness' as at Nov 6, 2023, equal to the sum of stated components: Operating Loan $1,038,588.16 (facility limit $1,000,000.00) as at Nov 6, 2023; Visa Business Card $53 · as of 6 Nov 2023 | $1.49M | Application Record of TD dated November 14, 2023 |
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 |
|---|---|---|
Service List as at November 23, 2023
| PDF · Subscribers | |
Endorsement of The Honourable Justice Kimmel dated November 21, 2023
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Book of Authorities of TD dated November 17, 2023 | PDF · Subscribers | |
Factum of TD dated November 17, 2023
| PDF · Subscribers | |
Application Record of TD dated November 14, 2023
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Ramo Canada Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/ramo-canada-inc