Ontario · Receivership (court-appointed)

Application Record of the Applicant dated July 24, 2025 (2)

Application / notice of application · 24 July 2025

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 filing1 verified

secured creditorsnote: Principal of $1,875,000.00 is the registered/face amount of the charge, not a stated outstanding balance as of any date. Guarantor on the charge: Cengiz Fehmi (personal guarantee, individual - not a company). Per Amending Letter dated Oct 17, 2022, a new $4,170,000.00 personal guarantee from Cengiz Fehmi was obtained while a prior $2,000,000.00 personal guarantee from Cengiz Fehmi was concurrently released; no new dollar amount of guarantee change is stated in the May 22, 2024 amendment (which amends only interest rate and payment type on Facilities 1-5). · page: 15 · debtor: Advantage Machine & Tool Inc. · creditor: Bank of Montreal (BMO) · currency: CAD · security: Charge/Mortgage registered 2022-01-07 (LRO #44, Receipted as PC198948; PIN 53188-0030) against 155 Huron Road, Mitchell, Ontario (PT LOT 19 CONCESSION 1 LOGAN); registered principal $1,875,000.00 CDN; interest at Mortgagee's Prime Rate + 5% per annum, calculated monthly not in advance; balance due on demand; insurance required at full insurable value