Ontario · Receivership (court-appointed)
Application Record to Appoint Receiver Returnable May 24, 2022
Application / notice of application · 4 May 2022
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 filing11 verified
- applicantC&K MORTGAGE SERVICES INC. and CANADIAN WESTERN TRUST COMPANY
- commencement date4 May 2022
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-22-00680655-00CL
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 101 of the Courts of Justice Act, R.S.O. 1990 c. C.43, as amended
- secured creditorsnote: First-ranking secured creditors; Loan matured April 1, 2022, per diem interest of $1,726.60 accruing; Canadian Western Trust Company holds undivided $600,000/$6,250,000 interest in trust for RRIF beneficiaries Jeffrey Erlich ($200,000) and Leslie Orbach ($400,000) · page: 9 · as of: 2022-04-25 · amount: 6502741.41 · debtor: 10412490 Canada Corp. and 10525243 Canada Corp. · creditor: C&K Mortgage Services Inc. and Canadian Western Trust Company · currency: CAD · security: First-ranking charge over 2 Harrison and 4 Harrison, general assignment of rents, general security agreement; principal amount of Loan $6.25M
- secured creditorsnote: Principal face amount, not confirmed outstanding balance · page: 19 · as of: 2022-05-02 · debtor: 10412490 Canada Corp. and 10525243 Canada Corp. · creditor: Archigraph Development Inc. · currency: CAD · security: Fourth-ranking charge (Archigraph Charge) over both Properties, principal face amount $500K, payable on demand, plus general assignment of rents
- secured creditorsnote: Principal face amount, not confirmed outstanding balance; matured March 25, 2022; rate 12.99% per annum · page: 20 · as of: 2022-05-02 · debtor: 10525243 Canada Corp. (4 Harrison) · creditor: Stephen Chan (Later Chan Charge) · currency: CAD · security: Third-ranking charge over 4 Harrison, principal face amount $600K, plus general assignment of rents
- secured creditorsnote: Principal face amount as reduced by registered notices, not a stated outstanding balance; charge matured June 28, 2020 · page: 20 · as of: notices registered November 7, 2019 and April 14, 2021 · amount: 600000 · debtor: 10412490 Canada Corp. (2 Harrison) · creditor: Stephen Chan and Pure Ink Stream Ltd. (Earlier Chan Charge) · currency: CAD · security: Third-ranking charge over 2 Harrison, principal face amount originally $850K, reduced to $650K then $600K per registered notices; general assignment of rents
- secured creditorsnote: Principal face amount, not confirmed outstanding balance; matured May 1, 2022; rate 13.99% per annum · page: 20 · as of: 2022-05-02 · debtor: 10412490 Canada Corp. and 10525243 Canada Corp. · creditor: Uptown Financial Inc. · currency: CAD · security: Second-ranking charge (Uptown Charge) over 2 Harrison and 4 Harrison, principal face amount $1.73M, plus general assignment of rents
- secured creditorsnote: Blanket all-property PPSA registrant; amount unstated on face of search reports · page: 21 · as of: 2022-05-01 · debtor: 10412490 Canada Corp. and 10525243 Canada Corp. · creditor: Bryant Holdings Inc. · currency: CAD · security: PPSA registration (notice of security interest) against both Debtors