Ontario · Receivership (court-appointed)
Issued Application
Application / notice of application · 10 December 2019
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 filing7 verified
- applicant1616292 ONTARIO LIMITED, 909413 ONTARIO LIMITED, RC INVESTMENTS INC., NITI KHANNA, HENCO FINANCIAL INC., 2323583 ONTARIO INC., and 2131774 ONTARIO INC.
- courtONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file noCV-19-00632527-00CL
- commencement date10 December 2019
- appointeeSpergel Inc.
- appointee rolereceiver
- secured creditorsnote: Indebtedness of $3,172,199.18 stated 'plus enforcement costs'; obligation personally guaranteed by Sarbjit Singh Dhillon and Mandhir Singh Dhillon (Guarantors) - personal guarantees exist. Document states the Lenders are 'not the only secured creditor of 254'; other unnamed secured creditor(s) exist and have notice/consent to the relief sought, amounts not disclosed. · as of: 2019-12-05 · amount: 3172199.18 · debtor: 2541900 Ontario Ltd. ("254") · creditor: Lenders under Credit Agreement dated November 9, 2016 (the Applicants: 1616292 Ontario Limited, 909413 Ontario Limited, RC Investments Inc., Niti Khanna, Henco Financial Inc., 2323583 Ontario Inc., and 2131774 Ontario Inc.) · currency: CAD · security: Charge/Mortgage in the principal amount of $3,070,000 (registered principal, not a balance) registered November 14, 2016 as Instrument No. PR3026936 against PIN 14209-1729 and PIN 14209-1730 (Queen Street, Brampton, ON); General assignment of rents and leases (GAR) dated November 9, 2016; Notice of GAR registered November 14, 2016 as Instrument No. PR3026937; General Security Agreement dated November 9, 2016 secured by PPSA (Ontario) registration, Reference File No. 721886715