#Order
The court appointed msi Spergel inc. as receiver, on the application of ROYAL BANK OF CANADA. Court file CV-25-00004090-0000.
Source: Order of the Honourable Justive Mcsweeney dated October 17, 2025
ZSD Electric Inc.
FollowActive
- Proceeding
- Receivership (court-appointed)s. 101 of the Courts of Justice Act, R.S.O. 1990, c.C-43 and s. 243 (1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c.B-3, ss. 67(1)(a) and (e) of the Personal Property Security Act, R.S.O. 1990, c. P.10
- File
- CV-25-00004090-0000
OverviewSummary updated
ZSD Electric Inc. is the subject of a court-appointed receivership proceeding in the Ontario Superior Court of Justice, commenced on July 28, 2025 under court file number CV-25-00004090-0000. The application invokes s. 101 of the Courts of Justice Act, s. 243(1) of the Bankruptcy and Insolvency Act, and ss. 67(1)(a) and (e) of the Ontario Personal Property Security Act. The proceeding remains active. No further steps have been recorded on the file.
Proceedings AIAsk this case — answers cite the filings
Case updates4 dated entries
#Order
Endorsement of the Honourable Justive Mcsweeney dated October 17, 2025 — Endorsement / reasons
1 earlier update, back to 17 October 2025 — subscribers.
Parties
Debtor
ZSD Electric Inc.
Receiver
msi Spergel inc.
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice McSweeney | Ontario Superior Court of Justice | 1 order, Oct 2025 | 6 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantRoyal Bank of Canada | Soloway Wright LLP | 17 Oct 2025 | Order · 17 Oct 2025 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 556 casesGeneral Security Agreement (GSA) dated June 23, 2015, perfected under PPSA on December 18, 2014; also secured by guarantee and GSA of 2262525 Ontario Inc. (Corporate Guarantor, related party) limited to $455,000.00, and guarantee of Dennis Zammit (director/officer, related party, personal guarantee) limited to $1,200,000.00, plus postponements and assignments of claim of both. Credit Facilities comprised an operating line of credit ($700,000.00 facility limit), a HASCAP term loan ($250,000.00 facility limit) and a credit card facility ($150,000.00 facility limit) - these are facility limits, n · as of 6 May 2025 | $908K | Application Record of the Applicant dated August 29, 2025 |
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.
Documents4 filings
| Date | Document | File |
|---|---|---|
| Endorsement of the Honourable Justive Mcsweeney dated October 17, 2025 | PDF · Subscribers | |
Order of the Honourable Justive Mcsweeney dated October 17, 2025
| PDF · Subscribers | |
Application Record of the Applicant dated August 29, 2025
| PDF · Subscribers | |
| Factum of the Applicant dated August 29, 2025 | 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., “ZSD Electric Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/zsd-electric-inc