Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 13 January 2026
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What we verified from this filing10 verified
- applicantC & K MORTGAGE SERVICES INC.
- commencement date13 January 2026
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-26-00093393-0000
- provinceONTARIO
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- appointeeROSEN GOLDBERG INC.
- appointee roleProposed Receiver
- secured creditorsnote: Amount is the written demand for payment made under the Loan on November 4, 2025 (Exhibit O). The Notice of Application (background section) separately states that 'the amount outstanding under the Loan' as of the same date, November 4, 2025, was $23,462,637.97, with per diem interest of $6,687.40 accruing. Debtor (as 'New Borrower' under the Mortgage Assumption Agreement dated October 3, 2024) assumed only the 'Assumed Debt' (principal $22,000,000 plus interest/fees accruing from October 1, 2024); the 'Arrears' (portion of indebtedness exceeding $22,000,000 as of the Date of Closing) remain the obligation of the prior owner, Kings Development Inc. (formerly 1000162801 Ontario Corp.), which was not released. Paragraph (d) of the Notice of Application's background section refers to 'Romspen' as the Debtor's senior-ranking secured creditor 'in connection with the Loan,' which appears to be a drafting inconsistency, as the remainder of the record consistently and exclusively identifies Rescom/C&K Mortgage Services Inc. as holder of the first-ranking charge and the Loan; no separate charge, registration, or amount is shown for any entity named Romspen. · page: 11 · as of: 2025-11-04 · amount: 22830659.61 · debtor: 1001004738 Ontario Inc. · creditor: C & K Mortgage Services Inc. (operating as Rescom Capital) ("Rescom") · currency: CAD · security: First-ranking charge ("Rescom Charge") registered against the Property May 30, 2022 as Instrument No. YR3431506, original registered principal $22,000,000; amended by Agreement Amending Charge/Mortgage of Land dated October 1, 2024 (notice registered October 4, 2024); assignment of rents registered May 30, 2022 (Instrument No. YR3431507); General Security Agreement dated October 1, 2024, notice of PPSA security interest registered October 7, 2024. Contractual entitlement to appoint a receiver on default.
- secured creditorsnote: No outstanding balance is stated in the record; $2,000,000 is the registered principal amount of the charge, not a confirmed balance. Per the underlying loan agreement (Exhibit M), the charge secures a 12-month term loan advanced as a 2nd-position mortgage with a 3% lender fee and 12% annual interest. · page: 11 · debtor: 1001004738 Ontario Inc. · creditor: General Industries Global Limited (GIGL) · currency: CAD · security: Subordinate (second) ranking charge ("GIGL Charge") registered against the Property December 2, 2025 as Instrument No. YR3871532; registered principal amount $2,000,000; interest rate 12% per annum; registered charge instrument states a Balance Due Date of 2025/10/01 (preceding the December 2, 2025 registration date, as stated on the face of the instrument).