Ontario · Receivership (court-appointed)
Application Record - Part 1
Application / notice of application · 18 April 2018
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 filing13 verified
- applicantKOOY BROTHERS LAWN EQUIPMENT LIMITED
- commencement date5 April 2018
- courtSUPERIOR COURT OF JUSTICE [COMMERCIAL LIST]
- court file noCV-18-00595177-00CL
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- appointeeThe Fuller Landau Group Inc.
- appointee roleProposed Receiver
- secured creditorsnote: Listed under 'Secured Creditors' on the service list as at April 5, 2018; no amounts or security described on these pages. · page: 3 · creditor: Royal Bank of Canada; Dunkerron Nurseries Limited; HSBC Bank Canada · currency: CAD
- secured creditorsnote: Stated as 'approximate amount' of $549,841.65 'plus interest and costs continuing to accrue' (principal, interest and fees under lease agreements made June 2014 to May 2016, converted to a single revised lease in May 2016). Mortgage also stands as collateral for RCB's obligations to Kooy. Default alleged since March 2015 and again July 2016; 244 notices issued June 15, 2017 and February 26, 2018. · page: 13 · as of: 2018-03-30 · amount: 549841.65 · debtor: Amsen Quarry Limited · creditor: Kooy Brothers Lawn Equipment Limited · currency: CAD · security: PPSA-registered security over equipment leased to Amsen under the Amsen Leases; collateral mortgage registered on title to the Quarry (136 The Bury Road, South Bruce Peninsula)
- secured creditorsnote: Stated as 'approximate amount' of $851,134.63 'plus interest and costs continuing to accrue' (principal, interest and fees under lease agreements made August 2014 to May 2016, converted to a single revised lease in May 2016). · page: 13 · as of: 2018-03-30 · amount: 851134.63 · debtor: Royal Canadian Bedrock Inc. · creditor: Kooy Brothers Lawn Equipment Limited · currency: CAD · security: PPSA-registered security over RCB Property (equipment leased under the RCB Leases); also secured by the collateral Mortgage on the Quarry
- secured creditorsnote: Amsen 'has multiple mortgagees, all of which appear to be related parties'; amounts and details unknown to Kooy; the December 2017 assignment is to be investigated by the receiver. Service list names Inspirit Holdings Inc. and Engreen Inc. (both c/o Anthony Guido) among secured creditors but the notice does not tie them to specific mortgages. · page: 16 · debtor: Amsen Quarry Limited · creditor: Related-party mortgagees of Amsen (multiple; incl. assignee of third-ranking mortgage) · currency: CAD · security: Multiple mortgages on the Quarry; third-ranking mortgage assigned in December 2017 by an apparently unrelated mortgagee to a related mortgagee
- unsecured creditorsnote: Floor: stated as 'more than $50,000'. Municipal tax arrears secured by tax liens registered on title to the Quarry, which is subject to a final notice of pending tax sale; priority class not stated on these pages. · page: 16 · basis: Notice of Application states Amsen 'presently owes more than $50,000 in property tax arrears' · amount: 50000 · debtor: Amsen Quarry Limited · creditor: The Corporation of the Town of South Bruce Peninsula (property tax arrears) · currency: CAD
- unsecured creditorsnote: Amounts not stated; government authorities on service list include Department of Justice and Ontario Minister of Finance. · page: 16 · basis: Notice of Application: Amsen and RCB 'subject to various claims and writs, including... tax debt claims registered by federal and provincial taxing authorities' · debtor: Amsen Quarry Limited and Royal Canadian Bedrock Inc. · creditor: Federal and provincial taxing authorities (tax debt claims/writs) · currency: CAD