Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 26 February 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 filing9 verified
- secured creditorsnote: Individual identified as a 'PPSA Registrant' on the service list; possible related party/investor (individual name, not a company); nature and amount of security not stated in excerpted pages. · page: 5 · debtor: Aspire Group (entity unspecified) · creditor: Donna Steinberg · currency: CAD
- secured creditorsnote: Identified only as a 'PPSA Registrant' on the service list; nature and amount of registered security interest not stated in excerpted pages. · page: 5 · debtor: Aspire Group (entity unspecified) · creditor: Mark Brender Professional Corporation Inc. · currency: CAD
- secured creditorsnote: Individual identified as a 'PPSA Registrant' on the service list; possible related party/investor (individual name, not a company); nature and amount of security not stated in excerpted pages. · page: 6 · debtor: Aspire Group (entity unspecified) · creditor: Margot Steinberg · currency: CAD
- secured creditorsnote: Identified only as a 'PPSA Registrant' on the service list; nature and amount of registered security interest not stated in excerpted pages. · page: 6 · debtor: Aspire Group (entity unspecified) · creditor: JC2 Investments LLC (John Chambers and formerly JCEP) · currency: CAD
- secured creditorsnote: Identified only as a 'PPSA Registrant' on the service list; nature and amount of registered security interest not stated in excerpted pages. · page: 6 · debtor: Aspire Group (entity unspecified) · creditor: Financière Savoie Inc. · currency: CAD
- secured creditorsnote: Identified only as a 'PPSA Registrant' on the service list; nature and amount of registered security interest not stated in excerpted pages. · page: 6 · debtor: Aspire Group (entity unspecified) · creditor: Lingotto Special Opportunities Master Fund IVAC (on behalf of its sub-fund Lingotto Special Opportunities Master Fund) · currency: CAD
- secured creditorsnote: Identified only as a 'PPSA Registrant' on the service list; nature and amount of registered security interest not stated in excerpted pages. · page: 6 · debtor: Aspire Group (entity unspecified) · creditor: BMO Capital Partners Inc. · currency: CAD
- secured creditorsnote: FCC is the first-registered secured creditor over substantially all Aspire Group assets (except certain equipment-specific registrations, e.g. Crown Equipment Corporation) and first mortgagee of the Mortgaged Property per Title Search dated February 3, 2025. Amount is exact balance as of January 17, 2025, described as 'approximately' in prose (rounded figure repeated at pp.17, 28, 45 of original). Aspire USA is guarantor providing secured, unlimited guarantee (related party/affiliate, not a separate borrower). · page: 17 · as of: 2025-01-17 · amount: 41468672.29 · debtor: Aspire Food Group Ltd./Aspire Food Group Canada Ltd./11850407 Canada Inc./8679398 Canada Inc. (the Aspire Borrowers), guaranteed by Aspire Food Group USA, Inc. · creditor: Farm Credit Canada (FCC) · currency: CAD · security: First charge/mortgage against Mortgaged Property (2450 Innovation Drive, London, ON, PIN 08197-0140) registered June 28, 2022, principal originally $36,500,000, increased by Mortgage Amending Agreement dated June 20, 2024 to $60,000,000 (registered principal, not a balance); General Assignment of Rents (registered June 28, 2022); Canadian GSAs over all personal property of each Aspire Borrower (dated June 28, 2022); 118 Canada Specific Security Agreement over equipment at Mortgaged Property (dated June 28, 2022); US law-governed Aspire USA GSA over all personal property of Aspire USA (dated June 28, 2022), registered under Texas UCC; PPSA financing statements registered in Ontario June 22, 2022; unlimited US law-governed guaranty from Aspire USA (related guarantor) dated June 28, 2022, secured. Facility limits: real property loan principal $37,000,000 and variable rate mortgage loan (Facility 2) principal $10,000,000 (advanced $4,146,817.16 of first $5,000,000 tranche; second tranche cancelled).
- secured creditorsnote: Serialized/equipment-specific financiers aggregated per instructions; amount not stated in excerpted pages. · page: 39 · debtor: Aspire Food Group USA, Inc. / Aspire Group · creditor: PPSA equipment financiers (PMSI class) — Crown Equipment Corporation / Crown Credit (Canada) Corporation · currency: CAD · security: Purchase-money/leased-equipment security interest; Crown Equipment Corporation UCC registration in Texas dated July 17, 2017 relating to certain specified leased equipment (forklifts), ranking prior to the Aspire USA GSA as to that equipment; Crown Credit (Canada) Corporation is a related PPSA registrant in Ontario.