Ontario · Receivership (court-appointed)
Notice and statement of the receiver dated August 10, 2023
Notice of receiver (s. 245 / Form 87) · 10 August 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 filing4 verified
- financial positionnote: Only assets are stated as a total; liabilities are reported separately as secured (total $29,457,837) and unsecured (~$2,491,304) but no combined total liabilities figure is given. · page: 1 · as at: 2023-08-01 · basis: Estimated book value per the Company's books and records (cash per bank statements; accounts receivable and net book value of land/building per books and records) · scope: Entity-level - DMI Exim Limited · currency: CAD · total assets: 48570568
- secured creditorsnote: Amount based on Company's books and records; Receiver has not confirmed validity or quantum. Independent legal opinion (Blake, Cassels & Graydon LLP) confirms security validity/enforceability. · page: 2 · as of: 2023-08-01 · amount: 29441837 · debtor: DMI Exim Limited · creditor: HSBC Bank Canada · currency: CAD · security: First-in-time registered security interest against personal property of DMI; first-in-time registered legal mortgage and charge of the Real Property; first-in-time registered legal charge and security interest in rents of the Real Property
- secured creditorsnote: Amount based on Company's books and records; Receiver has not confirmed validity or quantum. Receiver has not yet obtained an independent legal opinion on validity/enforceability of this security. · page: 2 · as of: 2023-08-01 · amount: 16000 · debtor: DMI Exim Limited · creditor: BMW Financial Services · currency: CAD · security: Security interest in a motor vehicle of the Company
- unsecured creditorsnote: Document references Appendix 'A' listing all known creditors, but the appendix is not included in these pages; no individual creditor names available here. · page: 3 · as of: 2023-08-01 · basis: Based on the Company's books and records, amount owed to unsecured creditors as at August 1, 2023, described as 'approximately $2,491,304' · amount: 2491304 · debtor: DMI Exim Limited · creditor: Unsecured creditors (aggregate as reported) · currency: CAD