Ontario · Receivership (court-appointed)
Notice of Statement of the Receiver – dated August 9, 2024
Notice of receiver (s. 245 / Form 87) · 9 August 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 filing5 verified
- financial positionnote: Sole asset reported is 'Investment in subsidiaries' ($3,131 thousand); Management advised no tangible assets to take possession of; Receiver did not take possession of books and records as Management failed to provide them · page: 1 · as at: 2022-12-31 · basis: Financial statements provided by Management dated December 31, 2022; Management advised no changes to assets since 2022; figures in $000's · scope: Entity level - Rotalec International Inc. (holding company), reflecting investments in Rotalec Canada Inc., Rotalec USA Inc., and Moduloc Controls Systems Ltd · currency: CAD · total assets: 3131000
- secured creditorsnote: Reported values include secured loans for which the Company is the guarantor; applicant for the receivership order · page: 1 · amount: 3553000 · debtor: Rotalec International Inc. · creditor: Toronto Dominion Bank · currency: CAD
- secured creditorsnote: Reported values include secured loans for which the Company is the guarantor · page: 1 · amount: 433200 · debtor: Rotalec International Inc. · creditor: BDC Capital Inc. · currency: CAD
- unsecured creditorsnote: Related company; part of the approximately $288,417 total owed to related companies per Company's books and records · page: 4 · as of: 2024-08-08 · basis: Creditors List (Liste des créanciers) prepared by Receiver, marked "Non-garanti" · amount: 271341 · debtor: Rotalec International Inc. · creditor: Buchh Holding Inc. · currency: CAD
- unsecured creditorsnote: Related company (Rotalec Canada Inc. is itself under receivership); part of the approximately $288,417 total owed to related companies per Company's books and records · page: 4 · as of: 2024-08-08 · basis: Creditors List (Liste des créanciers) prepared by Receiver · amount: 17076 · debtor: Rotalec International Inc. · creditor: Rotalec Canada Inc. · currency: CAD