Ontario · Receivership (court-appointed)
Motion Record of the Receiver returnable July 11, 2025
Application / notice of application · 7 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 filing6 verified
- financial positionnote: Total equity (5,965,000) reflects negative shareholders' equity; balance sheet figures stated in $000s per document header · page: 28 · as at: 2025-05-31 · basis: unaudited, book value · scope: entity - Axiom Real-Time Metrics Inc. · currency: CAD · total assets: 20159000 · total liabilities: 26124000
- recovery outcomeentries: basis: estimated · quote: NBC, which is expected to incur a significant shortfall on the NBC Indebtedness, supports the Transaction; · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: NBC · creditor name: National Bank of Canada · interim final: unstated · claims qualifier: unstated · table missing:
- secured creditorsnote: Primary secured creditor; indebtedness continues to accrue interest and costs; security opinion from Chaitons confirms validity and enforceability · as of: 2025-07-03 · amount: 10405080 · debtor: Axiom Real-Time Metrics Inc. · creditor: National Bank of Canada (NBC) · currency: CAD · security: Security over substantially all of the Company's business and assets
- secured creditorsnote: BDC subordinated and postponed its interest and security against the Company to NBC pursuant to priority agreement dated March 1, 2024; amount of BDC Loan not stated; PricewaterhouseCoopers Inc. appointed receiver of J2ASM on Dec 2, 2024 · debtor: Axiom Real-Time Metrics Inc. (as guarantor); J2ASM Inc. (primary borrower) · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: Guarantee of BDC Loan used to acquire Satellite Drive Office
- secured creditorsnote: PPSA equipment financiers (PMSI class) aggregated per instructions; assets not being acquired by Purchaser · debtor: Axiom Real-Time Metrics Inc. · creditor: Xerox Canada Ltd., CWB National Leasing Inc., and Vault Credit Corporation · currency: CAD · security: PPSA registrations against certain leased equipment and furniture
- secured creditorsnote: Airplane understood to be owned by Schachter and/or an entity he controls; related party connection (Schachter is founder/former president) · debtor: Axiom Real-Time Metrics Inc. · creditor: LBC Capital Inc. and J2ASM Air Inc. · currency: CAD · security: PPSA registrations in respect of an airplane