Ontario · Receivership (court-appointed)
Notice of Application
Application / notice of application · 26 March 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 filing5 verified
- secured creditorsnote: Excludes accruing interest and legal costs; guarantee dated February 10, 2018 from 2608798 Ontario Inc. · page: 6 · as of: 2020-03-12 · amount: 2955250.16 · debtor: Centrestone Granite & Marble Inc. (jointly and severally guaranteed by 2608798 Ontario Inc.) · creditor: National Bank of Canada · currency: CAD · security: General Security Agreement from Centrestone dated February 10, 2018 (Centrestone GSA) and General Security Agreement from 260 dated February 10, 2018 (260 GSA)
- secured creditorsnote: Stated as floor amount ('at least $30,000.00'); deemed trust class (outstanding source deductions). · page: 8 · amount: 30000 · debtor: Centrestone Granite & Marble Inc. · creditor: CRA / source deduction deemed trust · currency: CAD
- secured creditorsnote: PPSA registry searches confirm seven (7) secured creditors with registrations against Centrestone (including the Bank) and two (2) secured creditors with registrations against 260 (including the Bank); Bank states it is unaware of the full extent of other borrowings. · page: 9 · debtor: Centrestone Granite & Marble Inc. and 2608798 Ontario Inc. · creditor: Other PPSA-registered secured creditors (unnamed) · currency: CAD · security: PPSA registrations
- financial positionnote: Figure described as 'ongoing liabilities of at least $3,043,660.77'; a floor, not a total balance sheet figure. · page: 10 · basis: stated as floor ('at least') in application; no audited statements referenced · scope: Debtors collectively (Centrestone Granite & Marble Inc. and 2608798 Ontario Inc.) · currency: CAD · total liabilities: 3043660.77
- counselBorden Ladner Gervais LLP