Ontario · Receivership (court-appointed)
Application Record Returnable August 1, 2025
Application / notice of application · 18 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 filing4 verified
- secured creditorsnote: Vista granted a Postponement of Interest in favour of Westboro registered July 7, 2017 (Instrument Nos. LC176648/LC178918), subordinating its security to the Westboro Mortgage. · page: 25 · debtor: TAG Gallipeau Corporation · creditor: Vista Credit Corp. · currency: CAD · security: PPSA financing statement registered Feb 1, 2017 in respect of certain equipment; Notice of Security Interest in the amount of $57,500 registered Nov 10, 2016 as Instrument No. LC170006 against PIN 05263-0168; Charge/Mortgage in the amount of $165,000 registered Feb 6, 2017 as Instrument No. LC172285 against PIN 05263-0168 - registered amounts, not stated balances; no aggregate total stated
- secured creditorsnote: ETI is owned by Graham Hall's estate (related party); Graham was a director/guarantor of the Debtor. First ETI Mortgage postponed in favour of the Westboro Mortgage by Postponements registered Nov 22, 2016 (LC170328), July 7, 2017 (LC176647), and Sept 12, 2017 (LC178917). · page: 26 · debtor: TAG Gallipeau Corporation · creditor: E.T.I. Investments Limited · currency: CAD · security: First ETI Mortgage: Charge in the amount of $1,300,000 registered Oct 2, 2013 as Instrument No. LC137598, increased to $1,450,000 by Notice registered Dec 18, 2013 as Instrument No. LC139781; further Charges of $800,000 registered Sept 16, 2019 (LC201058), $500,000 registered April 7, 2020 (LC207399), and $1,465,000 registered Aug 26, 2021 (LC227493) - registered principal amounts, not stated balances; no aggregate total stated in the document
- secured creditorsnote: Tax Certificate dated March 8, 2022 (Certificate No. 7068): Total Current $120,252.46; Total Arrears $192,169.57 (2021 taxes $173,462.66 plus penalty $18,706.91); Total Outstanding $312,422.03, including water arrears of $52,885.83 added to the tax roll. Also registered against title: Order to Remedy Unsafe Building and Order Prohibiting Occupancy (both registered Dec 6, 2019) and Order to Comply (registered Dec 12, 2019) citing Building Code infractions - regulatory orders constituting further defaults under the Westboro Mortgage. · page: 127 · as of: 2022-03-08 · amount: 312422.03 · debtor: TAG Gallipeau Corporation · creditor: Town of Smiths Falls · currency: CAD · security: Statutory municipal tax lien under the Municipal Act, R.S.O. 2001, c. M.45, s.352
- secured creditorsnote: Demand letter dated March 3, 2022 states full balance due by March 18, 2022 of $3,928,451.85, comprised of principal balance $3,808,144.27, interest to March 18, 2022 of $18,725.37, three months' interest $95,902.38, legal admin fee $500, discharge fee $500, inspection fees $1,500, and solicitors' costs $3,179.83. Mortgage matured March 1, 2022 and was not renewed. Guaranteed personally by Joseph Arthur Gallipeau and Graham Hall (directors of TAG; Graham deceased, guarantee obligation now with his estate). Westboro affidavit (sworn July 18, 2025) states it has since spent 'in excess of $1,035,000' on property taxes, added to the Debtor's indebtedness (floor figure, undated exact balance not provided). · page: 143 · as of: 2022-03-18 · amount: 3928451.85 · debtor: TAG Gallipeau Corporation · creditor: Westboro Management Ltd. (as general partner of Westboro Mortgage Investment LP) · currency: CAD · security: Charge/Mortgage registered Nov 22, 2016 as Instrument No. LC170326 against the Real Property (originally $3,500,000 principal, increased to $4,000,000 by First Amendment registered July 7, 2017 and to $4,500,000 by Second Amendment registered Sept 12, 2017 - registered principal amounts, not balances); Notice of Assignment of Rents registered Nov 22, 2016 as LC170327