Ontario · Receivership (court-appointed)
Application Record of RBC dated May 31, 2024
Application / notice of application · 31 May 2024
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 filing9 verified
- applicantROYAL BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file noCV-24-00721285-00CL
- provinceONTARIO
- appointeemsi Spergel inc.
- appointee roleProposed Receiver
- commencement date30 May 2024
- secured creditorsnote: Document states these are the amounts 'currently owing to RBC, not including professional fees' as of the Notice of Application (issued May 30, 2024) — more recent than the February 7, 2024 demand-letter balances above. No aggregate total is stated by the document, so amount is left null per reporting rules (components not summed). · page: 10 · as of: Notice of Application filing date (May 30, 2024) · debtor: Jinamart Inc. · creditor: Royal Bank of Canada · currency: CAD · security: Same General Security Agreement security as above (GSA); components per Notice of Application: Operating Facility $782,245.78; Visa $234,587.95; Auto Loan (73682321-001) $22,365.40; Auto Loan $10,943.27
- secured creditorsnote: Total indebtedness secured by the security as at February 7, 2024, per s.244 BIA Notice of Intention to Enforce Security, plus unquantified legal and other expenses secured by the same security. Per the Demand Letter dated February 8, 2024 (original p.117), this total comprises: revolving demand facility $763,216.48 (principal $760,482.91 + accrued interest to Feb 7, 2024 of $2,733.57); Visa account ending 8281 $218,683.81; auto finance term loan $73,212.53 (principal $72,301.18 + interest $911.35); and auto finance term loan $47,143.89. RBC also requested Personal Statements of Affairs from unnamed guarantors of the Debtor (original p.110), indicating personal guarantees exist. · page: 120 · as of: 2024-02-07 · amount: 1102256.71 · debtor: Jinamart Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated February 4, 2022 executed by Jinamart Inc.; General Security Agreement dated April 26, 2019 executed by Roham 2020 Inc. (former corporate name of Jinamart Inc.)