Ontario · Receivership (court-appointed)
First Receiver's Report (with Appendix).pdf
Court officer report · 11 January 2019
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 filing4 verified
- secured creditorsnote: Amount owing to HSBC not stated in the pages reviewed · page: 3 · as of: 2018-12-06 · debtor: Royal Canadian Bedrock Inc. · creditor: HSBC Bank Canada · currency: CAD · security: Not detailed in reviewed pages; HSBC is the Applicant that obtained the receivership appointment pursuant to section 243(1) of the BIA, implying secured creditor status
- secured creditorsnote: Kooy Equipment is excluded from the receivership and is subject to a separate, existing receivership proceeding (Court File No. CV-18-00595177-00CL) over which Fuller Landau Group Inc. acts as Limited Existing Receiver · page: 21 · as of: 2018-12-06 · debtor: Royal Canadian Bedrock Inc. · creditor: Kooy Brothers Lawn Equipment Limited · currency: CAD · security: Prior-ranking security interest over specific equipment listed in Schedule 'A' to the Appointment Order ('Kooy Equipment'); Schedule 'A' itself not included in reviewed pages
- secured creditorsnote: Prior-ranking status subject to the Receiver obtaining an independent security opinion confirming validity to the Applicant (opinion pending as of report date) · page: 22 · as of: 2018-12-06 · debtor: Royal Canadian Bedrock Inc. · creditor: TD Equipment Finance Canada, a division of The Toronto-Dominion Bank · currency: CAD · security: Prior-ranking security interest over TD Equipment per Schedule 'B': 2014 Caterpillar 950K Wheel Loader (Serial CAT0950KCRA02413) and 2014 Caterpillar 336ELH Hydraulic Excavator (Serial CAT0336ETRZA00861)
- secured creditorsnote: Floor amount - document states QMX 'paid in excess of $200,000 to contractors, plus the cost of replacement parts' for maintaining/repairing RCBI equipment, which RCBI agreed but failed to reimburse; QMX is controlled by Anthony Guido, President/sole director of RCBI (related party); claim is disputed/unconfirmed and lien position asserted by QMX's counsel, not admitted by Receiver · page: 53 · as of: 2018-12-10 · amount: 200000 · debtor: Royal Canadian Bedrock Inc. · creditor: QMX8 Wiarton Inc. · currency: CAD · security: Asserted (not confirmed/registered) repair and storage lien over RCBI equipment serviced by QMX