Ontario · Receivership (court-appointed)
Receivers first report dated august 23 2013
Court officer report · 23 August 2013
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- courtSUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file noCV-13-10195-00CL
- provinceONTARIO
- applicantBDC Capital Inc.
- appointeeMNP Ltd.
- appointee rolereceiver
- commencement date23 July 2013
- proceeding typereceivership_court
- secured creditorsnote: Ranks pari passu with SVB on intellectual property per inter-creditor agreement dated July 6, 2012; subordinate to SVB on all other assets · page: 7 · as of: commencement of the receivership proceedings · amount: 1900000 · debtor: Syncapse Corp. and Syncapse Media Inc. · creditor: BDC Capital Inc. · currency: CAD · security: General security agreement dated September 22, 2010 over all property and assets of Syncapse; loan facility of $2.0 million originally advanced
- secured creditorsnote: Prose approximation of USD $1.50 million as at July 19, 2013 predates paydown; amount includes sums borrowed from SVB by the Receiver under Receiver's Certificate No. 001 (USD $150,000 borrowed July 30, 2013, max authorized USD $400,000); SVB has priority over all Syncapse assets except IP, where SVB and BDC rank pari passu · page: 8 · as of: 2013-08-22 · amount: 73767 · debtor: Syncapse Corp. · creditor: Silicon Valley Bank · currency: USD · security: Loan and Security Agreement dated July 6, 2012, as amended, and Intellectual Property Security Agreement dated July 6, 2012 over all property and assets of Syncapse