Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 18 September 2025
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 filing8 verified · 1 withheld
- applicantBANK OF MONTREAL
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00015634-0000
- provinceONTARIO
- commencement date17 September 2025
- secured creditorsnote: As of June 4, 2025, outstanding balance was $2,260,045.36 per demand letter and Forbearance Agreement (Outstanding Balance including $5,000 forbearance fee added). Bank asserts first-ranking security subject to government priority claims (unpaid realty taxes). Personal guarantees given by Javed Iqbal Sheikh and Talat Javed (principals/guarantors) - individuals, not companies. · page: 8 · as of: 2025-09-03 · amount: 2231245.23 · debtor: 2794248 Ontario Inc. · creditor: Bank of Montreal · currency: CAD · security: General Security Agreement dated March 8, 2022 (all personal property, assets and undertaking); Charge over Real Property registered March 24, 2022 as instrument SN718624 in the principal sum of $2,520,000 (registered principal, not a balance); Assignment of Rents registered March 24, 2022 as instrument SN718625
- secured creditorsnote: Only registration disclosed by PPSA search (as of September 2, 2025) in favour of a party other than the Bank; provincial tax claim. · page: 18 · as of: 2024-07-25 · amount: 1330 · debtor: 2794248 Ontario Inc. · creditor: Ministry of Finance (Ontario), Collections Branch · currency: CAD · security: PPSA registration for taxes owing
- unsecured creditorsnote: Unpaid property taxes including interest and penalties, with arrears dating back to 2023; municipal tax claim would rank as preferred/priority against Real Property. · page: 19 · as of: 2025-09-04 · basis: Tax certificate for the Real Property (Exhibit H) · amount: 77904.08 · debtor: 2794248 Ontario Inc. · creditor: The Corporation of the City of Welland (property tax arrears) · currency: CAD
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.