Manitoba · Receivership (court-appointed)
Notice of Application
Application / notice of application · 13 October 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing14 verified
- applicantTHE TORONTO-DOMINION BANK
- courtTHE KING’S BENCH WINNIPEG CENTRE
- court file noCI 26-01- ____________
- commencement date13 October 2026
- appointeeGlassRatner Restructuring Inc.
- appointee rolereceiver and manager
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act
- secured creditorsnote: Related party (director of the Debtors). Amount not stated; security subordinated to TD (247 AB, March 1, 2023) and postponed and assigned to TD (571 ON, January 31, 2025). · page: 9 · debtor: 2479918 Alberta Ltd.; 1000955571 Ontario Inc. · creditor: Hariharan Krithivasan (director) · currency: CAD · security: Security held by Hari (nature not stated)
- secured creditorsnote: Amount not stated; security subordinated to TD under postponement and subordination agreement dated March 1, 2023. · page: 9 · debtor: 2479918 Alberta Ltd. · creditor: JLM Enterprise Ltd. · currency: CAD · security: Security held by JLM Enterprise Ltd. (nature not stated)
- secured creditorsnote: Amount not stated; security subordinated to TD under postponement and subordination agreement dated March 1, 2023. · page: 9 · debtor: 2479918 Alberta Ltd. / Titanium Mechanical Inc. · creditor: Reimer Family Trust · currency: CAD · security: Security held by the Reimer Family Trust (nature not stated)
- secured creditorsnote: Amount not stated; security subordinated to TD (247 AB, March 1, 2023) and postponed and assigned to TD (571 ON, January 31, 2025). · page: 10 · debtor: 2479918 Alberta Ltd.; 1000955571 Ontario Inc. · creditor: Ramandeep Khatra · currency: CAD · security: Security held by Ramandeep (nature not stated)
- secured creditorsnote: Amount is the aggregate outstanding as of October 6, 2026, plus further accrued and accruing interest, costs and expenses (solicitor-and-own-client full indemnity). Mortgage principal and facility limits are not balances. Security perfected by Manitoba PPR and Ontario Land Titles registrations. Debtors defaulted under a March 13, 2026 Forbearance Agreement; TD seeks receivership under a Consent Receivership Order. Personal guarantor is the director (Hari). · page: 19 · as of: 2026-10-06 · amount: 3946206.65 · debtor: Titanium Mechanical Inc., 2479918 Alberta Ltd., Nebula Controls Ltd., Labbate Climate Control Systems Inc., 1000955571 Ontario Inc., 1000955662 Ontario Inc., Pols Enterprises Ltd., Pols Real Estate Holdings Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: GSAs over all present and after-acquired personal property of each of the eight Debtors; 247 AB investor pledge; 571 ON share pledge of all shares held in Pols Enterprises; collateral mortgage by Pols Real Estate (registered principal $1,210,000, Wainfleet, Ontario lands) with general assignment of rents and leases; inter-debtor unlimited cross-guarantees; limited personal guarantees by the director Hari ($665,000 for Labbate/Nebula, $490,000 for 571 ON/662 ON, $1,700,000 for Titanium/247 AB, each plus interest and costs); postponement/subordination agreements from JLM Enterprise Ltd., the Reimer Family Trust, Hari and Ramandeep Khatra. Facility limits (not balances): Titanium/247 AB demand operating $400,000, term loans $2,343,903 and $710,000, Visa $50,000; Labbate/Nebula demand operating $250,000, term loans $214,853 and $695,364, Visa $25,000; 571 ON/662 ON term loans $1,900,000, $875,000 and $910,000.
- counselThompson Dorfman Sweatman LLP
- counselDentons Canada LLP