Ontario · Receivership (court-appointed)
Application Record of the Applicant dated January 28, 2025
Application / notice of application · 28 January 2025
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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 filing6 verified
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-25-00735381-00CL
- commencement date22 January 2025
- secured creditorsnote: Lien claimant; associated certificate of action registered March 26, 2024 (Instrument No. HT344681) relating to both liens by this claimant. · page: 22 · as of: 2023-11-15 · amount: 1433800 · debtor: Metamore Inc. · creditor: 995451 Ontario Inc. · currency: CAD · security: Construction lien registered against the Property, Instrument No. HT339561.
- secured creditorsnote: Second lien registered by same claimant; associated certificate of action registered March 26, 2024 (Instrument No. HT344681) relating to both liens by this claimant. · page: 22 · as of: 2024-03-25 · amount: 256835 · debtor: Metamore Inc. · creditor: 995451 Ontario Inc. · currency: CAD · security: Construction lien registered against the Property, Instrument No. HT344657.
- secured creditorsnote: Original Loan principal of $12,000,000 advanced per Commitment Letter dated May 25, 2023 (amended June 9, 2023); balance of $12,811,967.35 is per payout statement dated January 24, 2025 and is exclusive of further per diem interest, costs, legal fees and disbursements. Loan matured July 1, 2024 and Borrower is in default; interest accruing at Step-Up Rate (RBC Prime + 10%) since July 1, 2024. Personal guarantees given by Laurie Consitt, Shawn Beattie, and Jeremy Steeves (individual guarantors, not corporate creditors). Affidavit states Peakhill is first-ranking mortgagee and there are no other charges registered against the Property as at January 23, 2025, and no PPSA registrations against the Borrower pertain to the Property other than Peakhill's, and no execution creditors as at January 22, 2025. · page: 25 · as of: 2025-01-24 · amount: 12811967.35 · debtor: Metamore Inc. · creditor: Peakhill Capital Inc. · currency: CAD · security: First-ranking Charge/Mortgage of Land (Instrument No. HT332633); Notice of Assignment of Rents – General (Instrument No. HT332634); Security Agreement over all present and after-acquired personal property; PPSA registrations against the Borrower (No. 20230621 1637 1590 8688) and against the Guarantors (No. 20230621 1637 1590 8689); Estoppel certificate re: Canadian Mental Health Association tenancy.