Ontario · Receivership (court-appointed)
Application Record of Tandia Credit Union dated October 20, 2023
Application / notice of application · 20 October 2023
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What we verified from this filing8 verified
- applicantTANDIA FINANCIAL CREDIT UNION LIMITED
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-23-00707172-00CL
- statutory basissubsection 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
- secured creditorsnote: Amount not stated; ranks behind Tandia's registration · page: 10 · debtor: 2500994 Ontario Ltd. · creditor: PPSA equipment financiers (PMSI class) - Ford Credit Canada Company · currency: CAD · security: PPSA registration covering Equipment, Other and Motor Vehicle
- secured creditorsnote: Serialized-equipment financiers aggregated per PPSA registrations; amounts not stated; rank behind Tandia's registration · page: 10 · debtor: 1557113 Ontario Inc. · creditor: PPSA equipment financiers (PMSI class) - Mercedes-Benz Financial, Mercedes-Benz Financial Services Canada Corporation, Ford Credit Canada Company · currency: CAD · security: PPSA registrations covering Equipment, Other and Motor Vehicle
- secured creditorsnote: Serialized-equipment financiers aggregated per PPSA registrations; amounts not stated; rank behind Tandia's registration · page: 10 · debtor: 1870431 Ontario Inc. · creditor: PPSA equipment financiers (PMSI class) - BMW Canada Inc., Mercedes-Benz Financial, Mercedes-Benz Financial Services Canada Corporation · currency: CAD · security: PPSA registrations covering Equipment, Other and Motor Vehicle; BMW's registration also covers Consumer Goods
- secured creditorsnote: Amount is per Demands/BIA Notice dated Aug 23, 2023, exclusive of legal fees, disbursements and accruing interest, stated owing as of Aug 22, 2023; continues to accrue. Obligations also guaranteed personally (unlimited guarantee dated Nov 12, 2021) by Narinder Gill, Balwinder Gill, Gagandeep Gill and Manjot Kaur (individuals, guarantors only). · page: 11 · as of: 2023-08-22 · amount: 12027241.12 · debtor: 1557113 Ontario Inc., 1870431 Ontario Inc., 2500994 Ontario Ltd. and 2544924 Ontario Inc. (jointly and severally) · creditor: Tandia Financial Credit Union Limited · currency: CAD · security: Collateral charge/mortgage registered Nov 12, 2021 over the Real Properties (registered principal/registration ceiling $12,750,000); General Assignments of Rents & Leases dated Nov 12, 2021; General Security Agreements dated Nov 12, 2021 (PPSA all-property security interest); first-ranking secured creditor over the Real Properties