Ontario · Receivership (court-appointed)
Application Record – Applicant – The Toronto-Dominion Bank – 13-MAY-2024
Application / notice of application · 13 May 2024
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: Document states components, not a total: per Forbearance Agreement s.2.01, as at April 2, 2024 the Borrower was indebted to the Bank in respect of: (a) Operating Loan (acct 9382537-02) $1,712,947.94 (principal $1,700,000.00 plus accrued interest to Apr 2, 2024 of $12,947.94, interest continuing at prime minus 0.250%, per diem $323.70); (b) Term Facility $333,673.21; (c) Visa Facility (acct ending 9733) $55,755.66 - no aggregate total stated. Facilities were originally established (Credit Agreement Aug 15, 2023, as amended) at limits of $300,000 (Operating Loan, temporarily increased to $330,000 under a Feb 23, 2024 TAR), $1,700,000 (committed reducing Term Facility) and $50,000 (Visa Facility) - these are facility limits, not balances. Rene Boljkovac (sole director/officer of the Company) is a related-party personal guarantor under an unlimited guarantee dated Sept 7, 2023. The Guarantor's Real Property securing the New Security is also subject to a prior collateral mortgage in favour of Morex Capital Corp. in the principal amount of $900,000, registered June 1, 2023 (Instrument No. PE399301), ranking ahead of TD's New Security on that property. · page: 164 · as of: 2024-04-02 · debtor: Dr. R. Boljkovac Dentistry Professional Corporation o/a Norwood Family Dentistry · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated September 7, 2023 over all present and after-acquired personal property of the Company, registered under the Ontario PPSA (PPSA search current to May 5, 2024 confirms TD as the only registrant against the Company); unlimited personal guarantee of Rene Emil Boljkovac dated September 7, 2023; 'New Security' - collateral mortgage in the principal amount of $250,000.00 registered against the Guarantor's real property at 704 Birchview Road, Douro-Dummer, Ontario (PIN 28185-0176/0179), arranged pursuant to the Forbearance Agreement dated April 2, 2024; all Security cross-collateralized for the full Indebtedness.