Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 16 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 filing7 verified
- applicantMERIDIAN CREDIT UNION LIMITED
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00091099-0000
- provinceONTARIO
- statutory basisSection 243(1) of the Bankruptcy and Insolvency Act; Section 101 of the Courts of Justice Act
- commencement date16 July 2025
- secured creditorsnote: Outstanding balance stated exclusive of costs, with interest continuing to accrue at the applicable rate; loan facility limit was $6,100,000 (non-revolving demand loan). Indebtedness also secured by Joint and Several Guarantees dated June 27, 2023 from Kyle Camarro (sole director of the Respondent - related party) and 2552481 Ontario Ltd. (related party, same registered address as Respondent), each limited to $6,100,000.00; Guarantors are themselves in default of their guarantee obligations per para 26. Demand for payment made January 3, 2025 with NITES enclosed pursuant to s.244(1) BIA; demand expired without payment. · page: 10 · as of: 2025-01-02 · amount: 6110481.65 · debtor: 2626364 Ontario Inc. · creditor: Meridian Credit Union Limited · currency: CAD · security: First-ranking collateral mortgage for $6,100,000.00 registered against title to the King Street Property (2874, 2880 and 2990 King Street East, Hamilton) on June 29, 2023 as Instrument No. WE1683897 (registered principal/face amount, not a balance); General Security Agreement dated June 27, 2023 over all present and after-acquired personal property of the Respondent, perfected by PPSA registration