Ontario · Receivership (court-appointed)
Application Record – Dated September 9, 2026
Application / notice of application · 9 September 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 filing11 verified
- applicantEQUITABLE BANK
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-26-00000391-0000
- provinceONTARIO
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- commencement date2 September 2026
- appointeeBricks Damiani Inc.
- appointee roleReceiver
- secured creditorsnote: Updated arrears per payout statement from Condo Corporation's lawyer dated Aug 24, 2026. At the July 17, 2026 Notice of Sale the arrears were $30,673.69, of which $21,980.14 was unpaid common expenses, the remainder interest and costs. A prior 2025 lien (Instrument AT6893088, $9,308.58) was satisfied and discharged (AT6978599, Dec 31, 2025) — not a current claim. · page: 21 · as of: 2026-08-24 · amount: 36195.2 · debtor: Medulla and Co Luxury Salons Ltd. · creditor: Toronto Standard Condominium Corporation No. 2670 (Condo Corporation) · currency: CAD · security: Condominium lien (s. 85(2) Condominium Act, 1998) registered Mar 25, 2026 as Instrument No. AT7031126 against the Real Property (registered amount $9,420, labelled 2026 Initial Condo Arrears $9,420.06); Notice of Sale under Lien issued July 17, 2026.
- unsecured creditorsnote: Amount of unpaid utility invoices not stated; the Condo Corporation was advised service would be disconnected. · page: 21 · as of: 2026-06-04 · basis: Disconnection notice for failure to pay utility invoices, as recited in the affidavit · debtor: Medulla and Co Luxury Salons Ltd. · creditor: WYSE Meter (hydroelectric provider to the Real Property) · currency: CAD
- secured creditorsnote: Amount owing under the EQB Loan as of Aug 26, 2026, excluding legal fees and costs incurred after July 31, 2026; interest accruing at per diem $426.49. Original loan $2,500,000 (60-month term, rate currently 6.45% = prime + 2.00%). Earlier stated indebtedness: $2,466,724.03 as of Sept 24, 2025 and $2,461,557.58 as of May 7, 2026. Arrears under the loan were $88,063.06 as of Aug 26, 2026. Related-party guarantor: Pacheco, sole officer and director. · page: 22 · as of: 2026-08-26 · amount: 2543338.21 · debtor: Medulla and Co Luxury Salons Ltd. · creditor: Equitable Bank (EQ Bank) · currency: CAD · security: First-position charge/mortgage registered Aug 19, 2022 as Instrument No. AT6162659 against Unit 102, Unit 7B and Unit 10B at 277 Davenport Road, Toronto (registered principal $2,500,000 — a registration amount, not the balance); General Assignment of Rents (Instrument No. AT6162660); General Security Agreement dated Aug 15, 2022 registered under the PPSA, ranking second; unlimited personal guarantee from sole officer/director (Luis Pacheco) dated Aug 15, 2022.