Ontario · Receivership (court-appointed)
Application Record of the Applicant dated April 30, 2026
Application / notice of application · 30 April 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 filing10 verified
- provinceONTARIO
- applicantROYAL BANK OF CANADA
- commencement date29 April 2026
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-26-00000033-0000
- proceeding typereceivership_court
- statutory basisSECTION 243(1) OF THE BANKRUPTCY AND INSOLVENCY ACT, RSC 1985, C. B-3, AS AMENDED AND SECTION 101 OF THE COURTS OF JUSTICE ACT, R.S.O. 1990, C.C.43
- statutory basisSECTION 243(1) OF THE BANKRUPTCY AND INSOLVENCY ACT, RSC 1985, C. B-3, AS AMENDED AND SECTION 101 OF THE COURTS OF JUSTICE ACT, R.S.O. 1990, C.C.43
- secured creditorsnote: Aggregated entry for named PPSA registrants included on the service list as interested parties: Bodkin, a division of Bennington Financial Corp.; Tesla Motors Canada ULC; Honda Canada Finance Inc.; Caterpillar Financial Services Limited; Kubota Canada Ltd. Individual registration amounts not stated in the provided pages (Exhibit H itself not included in extracted pages). · page: 8 · debtor: Block and Stone Resource Group Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Registrations under the Personal Property Security Act (Ontario) per Personal Property Security Registration System Search Results (Exhibit H, current to April 24, 2026)
- secured creditorsnote: Total Indebtedness as of April 24, 2026 per Notice of Application and Affidavit of Craig McInnes; comprised of (not summed, per document breakdown): Facility #1 Revolving Demand Facility $580,785.67; Facility #2 Non-Revolving Term Loan $10,808.52; Facility #4 Non-Revolving Lease Facility $574,326.91; Credit Card Facility $51,239.24; Term Facility/HASCAP Loan $146,437.47; overdraft $21,393.47; plus undetermined Foreign Exchange Forward Contract exposure. An earlier demand letter dated March 6, 2026 stated a different exact dated balance as at March 4, 2026 of $1,368,678.85 (Overdraft $12,530.99; Revolving Demand Loan $575,656.83; Lease Facility $574,326.91; Term Facility $145,448.33; Term Facility $10,715.58; Visa Facility $50,000.21). · page: 57 · as of: 2026-04-24 · amount: 1384991.28 · debtor: Block and Stone Resource Group Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated December 14, 2010 (all present and after-acquired personal property); Security Agreement (Chattel Mortgage for other than Inventory and Consumer Goods) dated April 9, 2019; Master Lease Agreement dated April 5, 2016 with leasing schedules 201000026329, 201000029754, 201000039914, 201000045029, 201000045554, 201000081641 (title to leased equipment reserved to Bank); Guarantee and Postponement of Claim from Andrew Negus dated July 25, 2024, limited to $625,000.00 (related party - director/guarantor); Guarantee and Postponement of Claim from Glenn Hawton dated December 23, 2010, limited to $400,000.00 (related party - director/guarantor); PPSA Financing Statements registered against Debtor perfecting the GSA, Chattel Mortgage and Lease (current to April 24, 2026 per Exhibit H)