Ontario · Receivership (court-appointed)
Application Record dated February 3, 2026
Application / notice of application · 3 February 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing13 verified
- applicantROYAL BANK OF CANADA
- commencement date3 February 2026
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-26-00000041-0000
- provinceONTARIO
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- appointeeKPMG Inc.
- appointee roleProposed Receiver
- secured creditorsnote: Holdings is not a direct borrower under any Credit Agreement; its GSA secures its guarantees of the 124, RealCo and 194 Credit Agreements (each guarantee limited to a stated principal amount); no separate outstanding balance stated for Holdings · page: 25 · debtor: T. Lawton Holdings Inc. ("Holdings") · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement over all personal property of Holdings (Exhibit K)
- secured creditorsnote: Registered principal amount of second mortgage per Title Search; not a stated outstanding balance. Granting of this second mortgage without RBC's consent is cited as an event of default under the RealCo Credit Agreement · page: 25 · debtor: 2752172 Ontario Inc. ("RealCo") · creditor: Tokio Marine Canada Ltd. (the "Surety") · currency: CAD · security: Second mortgage against the Real Property, registered principal amount of $600,000
- secured creditorsnote: Amount outstanding per table 'as of January 29, 2026' under the 194 Credit Agreement, excluding legal fees · page: 28 · as of: 2026-01-29 · amount: 339735.85 · debtor: 1947366 Ontario Inc. ("194") · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement over all personal property of 194 (Exhibit J); guaranteed by RealCo, 124 and Holdings, each limited to $250,000; 194 Credit Agreement (Jan 26, 2023) established a revolving demand facility (max $250,000) and credit card facility (max $100,000)
- secured creditorsnote: Amount outstanding per table 'as of January 29, 2026' under the RealCo Credit Agreement, excluding legal fees; events of default include unpaid property taxes of $48,604.43 and RealCo granting a second mortgage to Tokio Marine without consent · page: 28 · as of: 2026-01-29 · amount: 1310207.1 · debtor: 2752172 Ontario Inc. ("RealCo") · creditor: Royal Bank of Canada · currency: CAD · security: RBC Mortgage - first mortgage against the Real Property in the registered principal amount of $4,000,000 (Exhibit L); General Security Agreement over all personal property of RealCo (Exhibit I); guaranteed by 194, 124 and Holdings, each limited to $1,500,000; RealCo Credit Agreement (Jan 26, 2023) established a term facility (max principal $1,500,000, maturity Feb 16, 2026)
- secured creditorsnote: Amount outstanding per table 'as of January 29, 2026' under the 124 Credit Agreement, excluding legal fees · page: 28 · as of: 2026-01-29 · amount: 810380.75 · debtor: 12466546 Canada Inc. ("124") · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement over all personal property of 124 (Exhibit H); guaranteed by 194, RealCo and Holdings, each limited to $800,000; 124 Credit Agreement (Aug 15, 2024) established a revolving demand facility (max $600,000) and credit card facility (max $200,000)