Ontario · Receivership (court-appointed)
Motion Record dated January 7, 2026
Application / notice of application · 7 January 2026
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 filing2 verified
- financial positionnote: 'Total Known Creditors' of approximately $2.0 million per Receiver's creditor summary table; comprises secured RBC debt ($1,579,376.13), unsecured creditors ($420,584.03, including unknown 'various unsecured creditors'), and potential priority claims (employee wages and CRA amounts shown as unknown/unquantified, contributing $0 to the stated total). No total assets figure was provided in the reviewed pages. · page: 24 · as at: 2025-11-04 · basis: Receiver's estimate based on limited information available to the Receiver (management non-cooperative); described in the First Report as 'estimated amount owed' · scope: Aggregated across all four Debtors (12870428 Canada Inc., 15223873 Canada Inc., 15224705 Canada Inc., 15224721 Canada Inc.) · currency: CAD · total liabilities: 1999960.16
- secured creditorsnote: Table figure ('Estimated Amount Owed') is the amount stated as at the Date of Appointment. First Report para. 38 separately states approximately $1.5 million in aggregate outstanding under the Credit Facilities, exclusive of fees, costs and interest (a rounded prose approximation of the same debt). Obligations under certain Credit Agreements were also personally guaranteed by directors V. Kakkar and A. Chaman (personal guarantors, related parties). · page: 24 · as of: 2025-11-04 · amount: 1579376.13 · debtor: 12870428 Canada Inc., 15223873 Canada Inc., 15224705 Canada Inc., 15224721 Canada Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreements and security agreements (chattel mortgages) granted by each Debtor to RBC, registered under the Personal Property Security Act (Ontario); PPSA search results confirm RBC is the only registered secured creditor against the Debtors