Ontario · Receivership (court-appointed)
1 st report of the receiver dated July 10, 2020
Court officer report · 10 July 2020
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 filing2 verified
- secured creditorsnote: Amount per Mortgage Statement dated July 6, 2020 (exact dated balance); Vavaroutsos Affidavit states 'in excess of $8,067,628.87 as at July 1, 2020, together with accruing interest and costs'; excludes protective disbursements/legal fees not yet added. Also secured by absolute and unconditional personal guarantee from Khashayar Khavari (director/sole officer of debtor) dated December 20, 2018. · page: 5 · as of: 2020-07-01 · amount: 8067628.87 · debtor: 1001 Broadview Avenue Inc. · creditor: Centurion Mortgage Capital Corporation · currency: CAD · security: First registered mortgage/charge instrument AT5041028 (registered amount $44,000,000); first-ranking General Security Agreement dated December 20, 2018; General Assignment of Rents (AT5041029); PPSA registration 20181217 1132 1590 5862
- secured creditorsnote: Related party (per note: purpose/ownership of this mortgage may have been misrepresented to Centurion; subject to Subordination and Standstill Agreement postponing it to the Centurion Mortgage, preventing Investment Inc. from enforcing without Centurion's consent; also subject to Consent Order of Justice Gilmore dated March 9, 2020 restraining dealing with this mortgage save for full payment or further court order; beneficial ownership disputed in related litigation CV-623687-00-CL · page: 5 · amount: 5000000 · debtor: 1001 Broadview Avenue Inc. · creditor: 1001 Broadview Investment Inc. · currency: CAD · security: Second mortgage/charge instrument AT4671585, registered amount $5,000,000; related party to debtor