Ontario · Receivership (court-appointed)
Supplemental Affidavit of the Applicant
Affidavit · 28 April 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 filing2 verified
- secured creditorsnote: No total outstanding balance owed by Dixie to RBC is stated in this affidavit. Components disclosed: (1) unauthorized overdraft of $232,040.84 as at April 17, 2025, later covered by a further RBC operating-line advance after April 19, 2025; (2) value of RBC's floorplan collateral declined by approximately $700,000 between January and March 2025; (3) as at April 28, 2025 the Debtor held $153,525.22 in its RBC accounts (an asset, not a liability). RBC is confirmed as a secured creditor (para. 2, p.1). · page: 2 · debtor: Dixie Chrysler Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Security interest under the Credit Agreement/floorplan financing agreement over vehicles financed thereunder; security interest registered against all floorplan-financed vehicles on March 24, 2025 ('Preservation Collateral' protocol established with Zeifman); general security over Dealership assets securing the floorplan facility (per Zeifman letter).
- secured creditorsnote: Amount and identity of financiers not specified; RBC states certain trade-in vehicles advertised for sale by the Debtor remain encumbered by these undischarged prior liens. · page: 4 · debtor: Dixie Chrysler Ltd. · creditor: PPSA financiers of previous vehicle owners (undischarged trade-in liens) · currency: CAD · security: Prior registered PPSA financing liens against specific trade-in vehicles taken in by Dixie on floorplan-financed sales, not satisfied/discharged before resale.