Ontario · Receivership (court-appointed)

1 - Motion Record

Application / notice of application · 28 November 2018

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 filing1 verified

secured creditorsnote: Per Warrington Affidavit sworn October 17, 2018, Company indebted to OWCC in the amount of approximately $3.9 million as of October 1, 2018, alleged to be in default. Outstanding Factored Receivables separately stated as approximately $2.3 million advanced against $2.9 million factored receivables as of October 12, 2018 (component of overall indebtedness, not summed). · page: 10 · as of: 2018-10-01 · amount: 3900000 · debtor: Tru Labels Inc. · creditor: Oxygen Working Capital Corp. (OWCC) · currency: CAD · security: General security agreement (granted May 2017); credit facilities comprising factoring of accounts receivable and term loans ($600,000 April 2017, $100,000 June 2017, $250,000 May 2018)