Ontario · Receivership (court-appointed)
Application Record of TD
Application / notice of application · 28 April 2023
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 filing9 verified
- applicantTHE TORONTO-DOMINION BANK
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-23-00698068-00CL
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- commencement date17 April 2023
- secured creditorsnote: Related party (director/officer of Debtor and spouse of co-guarantor Irena Gorzhaltsan). Pursuant to Postponement and Assignment of Creditors Claim and Postponement of Security made September 10, 2021, Sergei postponed repayment of debts owed to him by the Debtor, subordinated any security he held, and assigned his claims against the Debtor to TD Bank. Claim is therefore subordinated/assigned, not a competing current secured claim. · page: 41 · amount: 2860582 · debtor: 2743732 Ontario Inc. · creditor: Sergei Homiakov · currency: CAD · security: Postponement and Assignment of Creditor's Claim and Postponement of Security, registered principal/claim amount stated in Credit Agreement security schedule
- secured creditorsnote: Credit Agreement disbursement condition required this charge to be discharged at closing (2021); certified PPSA search current to March 21, 2023 shows no other registrants against the Debtor, indicating this security is discharged and not current. · page: 42 · amount: 1500000 · debtor: 2743732 Ontario Inc. · creditor: 2554977 Ontario Inc. · currency: CAD · security: Charge on property located at 298 Lennox Avenue, Richmond Hill, ON (registered principal amount)
- secured creditorsnote: Credit Agreement disbursement condition required this charge to be discharged at closing (2021); certified PPSA search current to March 21, 2023 shows no other registrants against the Debtor, indicating this security is discharged and not current. · page: 42 · amount: 2100000 · debtor: 2743732 Ontario Inc. · creditor: Rathcliffe Capital Corp. · currency: CAD · security: Charge on property located at 162 Front Street, Sturgeon Falls, ON (registered principal amount)
- secured creditorsnote: Exact balance as of March 29, 2023 per Demand letter/BIA Notice (principal+interest: Revolving Operating Loan $29,144.60 + Term Loan $2,768,037.54); Notice of Application/affidavit prose rounds this to 'as of March 30, 2023' - same figure, date of demand vs. balance date differ by one day. Amount excludes accruing interest, legal fees and disbursements. Debtor's obligations also guaranteed by unlimited personal guarantees dated September 10, 2021 from directors/spouses Sergei Homiakov and Irena Gorzhaltsan (guarantors, not separate creditors). Certified PPSA search current to March 21, 2023 reveals no other registrants against the Debtor. · page: 112 · as of: 2023-03-29 · amount: 2797182.14 · debtor: 2743732 Ontario Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated September 10, 2021 (PPSA first-ranking security interest in all present and after-acquired personal property); Collateral charge/mortgage in the registered principal amount of $3,035,000.00 (first charge) on Real Property at 162 Front Street, Sturgeon Falls, Ontario, registered September 14, 2021 as instrument no. BS204267; General Assignment of Rents & Leases dated September 14, 2021, registered as instrument no. BS204268