Ontario · Receivership (court-appointed)
Application Record dated May 25, 2026
Application / notice of application · 25 May 2026
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 filing13 verified
- applicantCC2 (100) GP INC.
- commencement date25 May 2026
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-26-00000233-0000
- provinceONTARIO
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- appointeeKSV Restructuring Inc.
- appointee roleProposed Receiver
- secured creditorsnote: Figure is a registered principal amount, not a stated outstanding balance. Charge was transferred to AFC Mortgage Administration Inc. and Brexit Holdings Inc. on October 17, 2023 (Instrument No. YR3608789), then transferred back to Romandale Farms Inc. on January 23, 2025 (Instrument No. YR3760434). Romandale Farms Limited/Inc. shares an address with the Debtor and its principal (Helen Roman-Barber), suggesting a related-party lender. · page: 37 · debtor: King David Inc. · creditor: Romandale Farms Inc. · currency: CAD · security: Second Charge against the Real Property, registered principal amount of $3,500,000, Instrument No. YR3608774, registered October 17, 2023
- secured creditorsnote: Listed in PPSA Summary (Exhibit J, current as of April 23, 2026) as a registrant apart from the registrations associated with the Applicant's GSA; amount not stated. Also separately named as Applicant in an unrelated proceeding, Court File No. CV-23-00710411-00CL, against King David Inc. and Helen Roman-Barber (per service list). · page: 37 · as of: 2026-04-23 · debtor: King David Inc. · creditor: First Source Financial Management Inc. · currency: CAD · security: PPSA registration against the Debtor (collateral/nature not specified in the document)
- secured creditorsnote: Listed in PPSA Summary (Exhibit J, current as of April 23, 2026) as a registrant apart from the registrations associated with the Applicant's GSA; amount not stated in the document. · page: 37 · as of: 2026-04-23 · debtor: King David Inc. · creditor: Royal Bank of Canada · currency: CAD · security: PPSA registration against the Debtor (collateral/nature not specified in the document)
- secured creditorsnote: Listed in PPSA Summary (Exhibit J, current as of April 23, 2026) as a registrant apart from the registrations associated with the Applicant's GSA; amount not stated in the document. · page: 37 · as of: 2026-04-23 · debtor: King David Inc. · creditor: The Sovereign General Insurance Company · currency: CAD · security: PPSA registration against the Debtor (collateral/nature not specified in the document)
- secured creditorsnote: Security originally held by an unnamed Assignor under a Commitment Letter dated September 18, 2023 ($5,000,000 Facility); transferred to the Applicant via Transfer of Charge registered April 21, 2026 (Instrument No. YR3916309). Facility matured December 2024/1, 2024 and went into default. Written demand issued January 16, 2025 for $5,139,127.42 (approximate/demand figure). Forbearance Agreement dated February 4, 2025 recorded agreed indebtedness of $5,184,544.66 as at February 1, 2025 (undisputed as to quantum and liability), forbearance expired December 1, 2025. Statement of account (Exhibit N) as at April 30, 2026 is the exact dated balance used as 'amount'. Personal guarantee given by Helen Roman-Barber (Guarantor) dated October 17, 2023 - individual, not a company (guarantee only, not a separate secured claim). · page: 39 · as of: 2026-04-30 · amount: 4498916.21 · debtor: King David Inc. · creditor: CC2 (100) GP Inc. · currency: CAD · security: First Charge against the Real Property (100 Cathedral High Street, Markham) - Instrument No. YR3608760, registered per affidavit as of October 17, 2023 (Notice of Application states registration date of March 24, 2022); General Security Agreement (GSA) dated October 17, 2023 over present and after-acquired personal property of the Debtor relating solely to the Real Property; PPSA notice of the GSA security interest registered October 2, 2023 and later assigned to the Applicant