Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 5 December 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 filing10 verified
- applicantMBL ADMINISTRATIVE AGENT II LLC, as agent for POST ROAD SPECIALTY LENDING FUND II LP (f/k/a MAN BRIDGE LANE SPECIALTY LENDING FUND II (US) LP), and POST ROAD SPECIALTY LENDING FUND (UMINN) LP (f/k/a MAN BRIDGE LANE SPECIALTY LENDING FUND (UMINN) LP)
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-23-00710413-00CL
- provinceONTARIO
- 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
- appointeeFTI Consulting Canada Inc.
- appointee roleProposed Receiver
- commencement date4 December 2023
- secured creditorsnote: TX OPS Canada Corporation, a named respondent in this proceeding, is a Guarantor granting security under this facility (related affiliate security, not an independent third-party loan). No outstanding balance figure appears on the extracted pages; default/acceleration amounts referenced in Exhibits Q–X (Notices of Default, Acceleration, Activation, Exclusive Control, dated October 2023) were not among the pages provided. · page: 78 · debtor: TX OPS Funding II, LLC (Borrower); guaranteed/secured by TX OPS Indiana Limited (Parent) and TX OPS Canada Corporation (Guarantor) · creditor: MBL Administrative Agent II LLC, as administrative agent for the Lenders (including Post Road Specialty Lending Fund II LP and Post Road Specialty Lending Fund (UMinn) LP) · currency: USD · security: Senior Secured Revolving Credit Agreement dated February 5, 2021 (Initial Revolving Commitment of $25,000,000, with Additional Revolving Commitments permitted up to an aggregate Revolving Commitment ceiling of $50,000,000 in $5,000,000 increments — facility limits, not an outstanding balance); secured by Security Agreement dated February 5, 2021 and Guaranty and Security Agreement dated February 5, 2021 granting a security interest in Vehicles/Financed Vehicles, rights under Purchase Agreements, and Reserve Collateral
- secured creditorsnote: Distinct facility/capacity from the February 5, 2021 agreement, with the same Administrative Agent. TX OPS Canada Corporation, a named respondent, is again a Guarantor providing security (related affiliate security). No balance figures found in the extracted portions of this document. · page: 419 · debtor: TX OPS Global Funding I, LLC (Borrower); guaranteed/secured by TX OPS Indiana Limited (Parent) and TX OPS Canada Corporation (Guarantor, an Ontario corporation) · creditor: MBL Administrative Agent II LLC, as administrative agent for the Lenders (including Post Road Specialty Lending Fund II LP and Post Road Specialty Lending Fund (UMinn) LP) · currency: USD · security: Senior Secured Revolving Credit Agreement dated September 27, 2021; secured by Security Agreement dated September 27, 2021 and Guaranty and Security Agreement dated September 27, 2021 granting a security interest in Vehicles/Financed Vehicles, rights under Purchase Agreements, and Reserve Collateral (facility limit/outstanding amount not stated on extracted pages)