Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 7 August 2025
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 filing13 verified
- applicantTHE TORONTO-DOMINION BANK
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00749022-00CL
- provinceONTARIO
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- appointeeAlbert Gelman Inc.
- appointee roleProposed Receiver
- secured creditorsnote: Listed on service list as 'Secured Creditor'; no balances, registration details, or specific collateral disclosed in the application record. · page: 2 · debtor: Sigma Molders 2020 Inc. · creditor: PPSA equipment financiers (PMSI class) - Wells Fargo Equipment Finance Company; Concentra Bank; De Lage Landen Financial Services Canada Inc. · currency: CAD · security: Equipment financing / Purchase Money Security Interests (referenced generically as 'Existing PMSIs' as Permitted Liens under the Credit Agreement)
- commencement date7 August 2025
- secured creditorsnote: Related-party creditor (same trade name as debtor); Subordination Agreement provides it 'consents to the Bank Security and postpones its security in all respects to and in favour of the Bank' - subordinated, ranks behind TD Bank; amount of indebtedness not stated in record. · page: 10 · debtor: Sigma Molders 2020 Inc. · creditor: Sigma Moulders (general partnership) · currency: CAD · security: Security interest (nature/collateral not specified in record) subject to Subordination Agreement dated September 28, 2020
- secured creditorsnote: Demand made May 29, 2025 with s.244(1) BIA Notices of Intention to Enforce Security enclosed; secured also by Subordination Agreement (Sigma Moulders, Sep 28, 2020) and Postponement and Assignment Agreement (Anil Anand, Mar 18, 2022) postponing those related-party claims to the Bank; unlimited personal guarantee from Anil Anand (director/guarantor, individual - not a company). · page: 11 · as of: 2025-05-28 · amount: 740303.79 · debtor: Sigma Molders 2020 Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated Sep 29, 2020 (first charge on all present and after-acquired personal property, GSA registered); Demand Operating Facility Agreement dated Sep 23, 2020 with credit limit of $500,000 CAD, amended Feb 17, 2022 increasing credit limit to $800,000 CAD (facility limits, not balances)
- secured creditorsnote: Bank states it is 'uncertain as to whether there are any amounts owing to Canada Revenue Agency or other creditors with claims that may rank in priority to the secured claim of the Bank' - existence/amount of any CRA deemed-trust claim is unknown, not confirmed as zero. · page: 12 · debtor: Sigma Molders 2020 Inc. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Related party: director of Borrower and personal guarantor (individual, not a company - guarantee unlimited, Sep 29, 2020). Postponement Agreement postpones repayment of his 'Creditor Indebtedness' in full to prior repayment of Bank Indebtedness. Agreement permits repayment to Anand only while aggregate Creditor Indebtedness remains not less than $1,375,000 (a repayment covenant threshold, not a stated outstanding balance). · page: 97 · debtor: Sigma Molders 2020 Inc. · creditor: Anil Anand · currency: CAD · security: Assignment of Creditor's Claim (Company debt owed to Anand) to the Bank as security, per Postponement and Assignment of Creditor's Claim Agreement dated March 18, 2022