Ontario · Receivership (court-appointed)

Motion Record - Receiver - BDO Canada Limited - 04-SEPT-2026

Application / notice of application · 4 September 2026

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 filing1 verified

secured creditorsnote: Senior/first-ranking secured creditor; amount stated is plus applicable costs, expenses, fees and interest, which are accruing; will exceed Net Sale Proceeds resulting in a shortfall; also holds personal guarantee from sole director Mr. Vargas (related individual, not a company); security opinion obtained by Receiver's counsel confirming validity and enforceability · page: 14 · as of: 2026-09-04 · amount: 4458176.91 · debtor: 16261311 Canada Inc. · creditor: Canadian Imperial Bank of Commerce (CIBC) · currency: CAD · security: Collateral charge/mortgage over the Property in the principal sum of $4.0 million registered August 26, 2025; general security agreement dated July 24, 2025