Ontario · Receivership (court-appointed)
Motion Record Returnable October 16, 2020
Application / notice of application · 16 October 2020
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What we verified from this filing5 verified
- secured creditorsnote: Registered on title without RBC's authorization or consent, in breach of Loan Agreement's Charge Covenant; ranks after RBC mortgage in registration order. · page: 21 · as of: 2018-12-03 · debtor: Highyon Assets Corp. · creditor: Margaret Hui · currency: CAD · security: Mortgage in the amount of $150,000 registered on title to the Property as instrument YR2904645 (registered principal, not a stated balance)
- secured creditorsnote: Registered on title without RBC's authorization or consent, in breach of Loan Agreement's Charge Covenant. · page: 22 · as of: 2020-01-02 · debtor: Highyon Assets Corp. · creditor: Roger Lam · currency: CAD · security: Mortgage in the amount of $200,000 registered on title to the Property as instrument YR3052188 (registered principal, not a stated balance)
- secured creditorsnote: Registered on title without RBC's authorization or consent, in breach of Loan Agreement's Charge Covenant; discovered via title search July 13, 2020. · page: 23 · as of: 2020-07-10 · debtor: Highyon Assets Corp. · creditor: Guohui Liang · currency: CAD · security: Mortgage in the amount of $2,800,000 registered on title to the Property as instrument YR3117703 (registered principal, not a stated balance)
- secured creditorsnote: Amount stated as owing 'in respect of the Facilities' as of October 2, 2020 (excluding fees, costs or other charges). Demand letter dated July 14, 2020 stated indebtedness as at July 13, 2020 comprising: (1) fixed rate term loan $859,168.81 (principal $768,316.98, breakage fee $88,442.68, accrued interest $2,409.15); (2) revolving demand facility $62,243.22 (principal $62,000, accrued interest $243.22); (3) Visa $50.00. Statement of Claim states amount outstanding as at October 2, 2020: Term Loan $853,768.64, LOC $71,068.94, Visa $0.00 (components, not summed here). · page: 25 · as of: 2020-10-02 · amount: 839537.61 · debtor: Highyon Assets Corp. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement (June 14, 2018) - first ranking security interest in all personal property; Collateral Mortgage registered as instrument YR2840572 on June 22, 2018, principal amount $900,000, first fixed charge on the Property; Guarantee and Postponement of Claim by Bing Pu and Shuyan Xu ($900,000 limit); Guarantee and GSA of Highyon Realty Inc. ($900,000 limit)
- secured creditorsnote: Total amount of indebtedness secured by the GSA per Notice of Intention to Enforce Security under s.244(1) BIA, plus legal and other expenses. · page: 160 · as of: 2020-07-13 · amount: 756 · debtor: Highyon Realty Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement over all personal property of Highyon Realty Inc.