Ontario · Receivership (court-appointed)

First Report of the Receiver dated December 14, 2023

Court officer report · 14 December 2023

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 filing1 verified

secured creditorsnote: Report states KingSett is 'Uptowns' senior secured lender' and that the Applicants (KingSett and Dorr Capital Corporation) applied for the receivership; Dorr Capital's position vis-à-vis Uptowns is not described. Report refers generally to 'the project's secured creditors' without naming others. · page: 6 · debtor: Vandyk – Uptowns Limited · creditor: KingSett Mortgage Corporation · currency: CAD · security: Senior secured lender to Uptowns; amount of pre-filing indebtedness not stated in this report. Separately, KingSett is the lender of the receivership borrowing facility (Receiver's Borrowings Charge, limit $1,000,000 raised to a requested $3,000,000), which is a post-filing facility and not pre-filing debt.