Ontario · Receivership (court-appointed)
Application Record of Toronto Dominion Bank dated July 3, 2024
Application / notice of application · 3 July 2024
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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 filing4 verified
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-24-00002452-0000
- commencement date25 June 2024
- secured creditorsnote: Facility-level balances as at May 14, 2024: Committed Reducing Term Facility (limit $2,200,000) - $2,117,129.43 owing; Operating Loan (limit $75,000) - $33,955.22 owing; Credit Card Facility (limit $10,000) - $0.00 owing; these sum to the reported total of $2,151,084.65. An earlier demand letter dated December 4, 2023 stated indebtedness as at December 1, 2023 of $2,074,783.93 (Mortgage Loan $2,037,816.43 [principal $2,016,666.30 + interest $21,150.13], Overdraft $36,967.50, Visa $0.00), plus a $1,000 discharge fee due on payout. TT3 Inc. is also named as a 'Guarantor' on the service list; no further detail on its guarantee is provided in the excerpted pages. · page: 57 · as of: 2024-05-14 · amount: 2151084.65 · debtor: Malakand Petroleum Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated July 4, 2022 over all present and after-acquired personal property (perfected by PPSA registration no. 784606428, registered 2022-07-05, expiring 2027-07-05); Charge/Mortgage of Land, registered principal sum of $2,300,000.00 (not a balance), instrument HR1907865, registered 2022-07-18, first charge over Real Property at 12 Guelph St W, Halton Hills, ON (PIN 24992-0323 LT); Guarantee from Fazle Majeed dated July 4, 2022, unlimited in sum (personal guarantee, related party - Fazle Majeed is a principal of the Debtor)