Ontario · Receivership (court-appointed)
Application Record Returnable June 25, 2025.pdf
Application / notice of application · 25 June 2025
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What we verified from this filing11 verified
- applicantROYAL BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00000124-0000
- provinceONTARIO
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- commencement date2 June 2025
- appointeeMNP
- appointee roleReceiver
- secured creditorsnote: HTML Demanded Indebtedness per Demand Letter dated July 9, 2024, comprised of: Credit facility 001 $488,288.68; Demand facility 002 $469,221.21; Demand facility 003 $541,611.16; Demand facility 004 $462,825.52; Visa 8062 $65,821.72; Visa 8153 $18,802.90; Lease line 7253 $1,079,156.62; Lease line 8764 $348,409.96. Plus accruing interest, costs, fees. Guaranteed by Debtors and Principals. · page: 9 · as of: 2024-07-08 · amount: 3474137.77 · debtor: Hayes Timber Mill Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreements dated October 29, 2012 (HTI) and April 25, 2022 (HTML); master lease agreement dated April 25, 2022 and two leasing schedules; PPSA registrations against all collateral classes except consumer goods
- secured creditorsnote: HTI Demanded Indebtedness per Demand Letter dated July 22, 2024, comprised of: Credit facility 001 $541,968.39; Demand facility 006 $224,815.80; Demand facility 003 $104,561.31; Visa 8797 $49,215.80; Visa 1525 $1,830.01; Lease line 1598 $8,424.86; Lease line 0790 $75,960.78; Lease line 2602 $90,813.13. Plus accruing interest, costs, fees. Guaranteed by Debtors and Principals (Roger Bruce Hayes, Cortney Sarah O'Donoghue, Daniel James O'Donoghue). · page: 9 · as of: 2024-07-17 · amount: 1097590.08 · debtor: Hayes Timber Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreements dated October 29, 2012 (HTI) and April 25, 2022 (HTML); security agreement dated December 2, 2021 (HTI); charge/mortgage on Real Property (7 North Diagonal) in principal amount of $450,000 (originally $292,500, amended January 2, 2025) dated December 20, 2018; master lease agreement dated April 17, 2014 and three leasing schedules; PPSA registrations against all collateral classes except consumer goods
- secured creditorsnote: Related party security (personal guarantors' property); principal/registration amount, not a stated balance · page: 9 · debtor: Cortney Sarah O'Donoghue and Daniel James O'Donoghue (Principals) · creditor: Royal Bank of Canada (charge/mortgage on Principals' property) · currency: CAD · security: Second-ranking charge/mortgage registered on title to 362480 Lindenwood Road, Georgian Bluffs, Ontario (PIN 37029-0339 (LT)) in principal amount of $1,500,000.00, ranking behind a prior charge/mortgage in principal amount of no more than $749,000.00