Ontario · Receivership (court-appointed)
Supplementary Affidavit dated April 11, 2025
Affidavit · 11 April 2025
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What we verified from this filing6 verified
- secured creditorsnote: Related corporate entity that guaranteed the obligations of Tung Air, 252 and Lessard pursuant to Guarantee and Postponement of Claim agreements dated May 30, 2023; no separate balance stated for this entity individually. · page: 22 · debtor: 1000101395 Ontario Inc. ("Secured Guarantor") · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement dated May 30, 2023, registered under the PPSA (Ontario); charge on the Secured Guarantor's portion of the Manning Road Property in favour of RBC in the amount of $1,100,000 (registered charge/principal amount, not a balance)
- secured creditorsnote: Amount is principal and interest due and owing as of January 9, 2025 per RBC's Notice of Motion (plus legal expenses and accruing interest). 252's Facility #1 (non-revolving) had an original amount of $13,597,000. 252 also cross-guaranteed the obligations of Tung Air and Lessard. · page: 22 · as of: 2025-01-09 · amount: 13643746.94 · debtor: 2527366 Ontario Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement dated May 30, 2023, registered under the PPSA (Ontario); charge on Kamato Road Property in favour of RBC in the amount of $18,040,000 (registered charge/principal amount, not a balance)
- secured creditorsnote: Amount is principal and interest due and owing as of January 9, 2025 per RBC's Notice of Motion (plus legal expenses and accruing interest). Lessard's Facility #1 (revolving) original amount $300,000; Facility #2 (non-revolving) original amount $2,600,000. Lessard also cross-guaranteed the obligations of Tung Air and 252, and breached covenant against subsequent charges on the Manning Road Property. · page: 22 · as of: 2025-01-09 · amount: 2793188.23 · debtor: R. Lessard Trucking Limited · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement dated September 14, 2022, registered under the PPSA (Ontario); charge on Lessard's portion of the Manning Road Property in favour of RBC in the amount of $10,600,000 (registered charge/principal amount, not a balance)
- secured creditorsnote: Amount is principal and interest due and owing as of January 9, 2025 per RBC's Notice of Motion (plus legal expenses and accruing interest). Tung Air also cross-guaranteed the obligations of 252 and Lessard pursuant to the Debtor Cross-Guarantees. · page: 22 · as of: 2025-01-09 · amount: 1595068.35 · debtor: Tung Air Transport Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement dated May 30, 2023, registered under the Personal Property Security Act (Ontario)
- counselAird & Berlis LLP
- counselKramer Simaan Dhillon LLP