Ontario · Receivership (court-appointed)
Application Record dated July 24 2024
Application / notice of application · 24 July 2024
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What we verified from this filing8 verified
- applicantNATIONAL BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-24-00723897-00CL
- statutory basisSection 101 of the Courts of Justice Act, R.S.O. 1990 c.C.43, as amended, and in the matter of Section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
- commencement date16 July 2024
- secured creditorsnote: Indebtedness accelerated following default; demand and s.244 BIA notice issued June 19, 2024; guaranteed by Benjamin Oakes, sole director/officer (related party) · page: 9 · as of: 2024-06-17 · amount: 395935.58 · debtor: 52 Lacroix Inc. · creditor: National Bank of Canada · currency: CAD · security: First-ranking mortgage on 52 Lacroix Property ($580,000 principal, registered January 7, 2021, Instrument No. CK182635); general assignment of rents and leases
- secured creditorsnote: Indebtedness accelerated following default; demands issued April 12, 2024 and June 19, 2024; Notices of Intention to Enforce Security (s.244 BIA) issued same dates; guaranteed by Benjamin Oakes, sole director/officer (related party) under several separate guarantees · page: 9 · as of: 2024-06-17 · amount: 8424023.68 · debtor: Commcache Asset Management Inc. · creditor: National Bank of Canada · currency: CAD · security: First-ranking mortgages: Hartman Avenue Property ($2,100,000 principal, registered June 22, 2021, Instrument No. SD424534); John Street Property ($1,818,000 principal, registered March 4, 2022, Instrument No. CK203148); King Street Property ($2,460,000 principal, registered May 25, 2023, Instrument No. SD476145); Windsor Property ($3,240,000 principal, registered August 4, 2023, Instrument No. CE1146073); first-ranking GSA over all personal property/assets used in connection with the Commcache Real Property; general assignments of rents and leases
- secured creditorsnote: Two of the second-ranking mortgagees (in respect of Hartman Avenue Property and John Street Property) have taken enforcement steps pursuant to separate Notices of Sale Under Mortgage dated February 20, 2024 and January 18, 2024, respectively · page: 16 · debtor: Commcache Asset Management Inc. and 52 Lacroix Inc. · creditor: Second-ranking mortgagees (unnamed) · currency: CAD · security: Second-ranking mortgages and notices of assignment of rents registered against Hartman Avenue Property, John Street Property, and 52 Lacroix Property, permitted without the Bank's prior written consent (mortgagees not named in the record)