Ontario · Receivership (court-appointed)
First and Final Report of Receiver dated June 20, 2025
Court officer report · 20 June 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing8 verified
- secured creditorsnote: Balance per Scotia Bank account statement/payout statement (Appendix N); underlying facilities were a 60-month term loan (original principal $706,000), business credit card (limit $20,000) and credit line (limit $150,000) - facility amounts, not balances. Scotia Bank not expected to fully recover indebtedness. · page: 9 · as of: 2025-06-17 · amount: 787148.31 · debtor: RH Dentistry · creditor: The Bank of Nova Scotia (Scotia Bank) · currency: CAD · security: General security agreement over all of RH Dentistry's assets; unlimited personal guarantee by Ramzi Hindieh (related party/personal guarantor)
- secured creditorsnote: Balance per Scotia Bank account statement/payout statement (Appendix R); underlying facility was a 60-month term loan with original principal of $1,235,000 - a facility amount, not the balance. Scotia Bank not expected to fully recover indebtedness. Parcel Register (dated 2025-04-01) shows no charges in priority to the Scotia Bank Charge. · page: 9 · as of: 2025-06-17 · amount: 1358313.81 · debtor: RC Inc. · creditor: The Bank of Nova Scotia (Scotia Bank) · currency: CAD · security: First mortgage/hypothec against the Real Property; unlimited joint and several guarantee executed by Ramzi Hindieh and RH Dentistry (related party/personal guarantor)
- secured creditorsnote: Priority claim ahead of secured creditor Scotia Bank; per Property Tax Arrears Statement dated June 20, 2025 (Appendix E). Affidavit of Judy Vielle (Sept 25, 2024) had noted arrears of approximately $75,000 at that earlier date. · page: 10 · as of: 2025-06-20 · amount: 96214.13 · debtor: RC Inc. · creditor: City of Toronto (Property Tax Arrears) · currency: CAD · security: Statutory municipal property tax arrears (comprised of $93,714.13 arrears dating back to 2022 plus approximately $2,500 bailiff fees for warrant); ranks in priority to Scotia Bank per Receiver
- secured creditorsnote: Lien as registered on December 24, 2024 was in the amount of $8,181; total payable per Statement of Account from Lash Condo Law LLP as at June 30, 2025 is $42,587.64, inclusive of chargebacks, interest, costs, common expense arrears and other amounts (Appendix F-1). Priority claim ranking ahead of Scotia Bank per Receiver. · page: 10 · as of: 2025-06-30 · amount: 42587.64 · debtor: RC Inc. · creditor: Toronto Standard Condominium Corporation No. 2569 (TSCC 2569) · currency: CAD · security: Condominium lien registered against title to the Real Property as Instrument No. AT6725399 (registered December 24, 2024) for unpaid common expenses
- unsecured creditorsnote: CEBA loan of $40,000 received by RH Dentistry; separate $40,000 CEBA loan also received by RC Inc. (reported as separate entry). · page: 11 · basis: Ramzi advised he was unaware of any unsecured creditors other than the Bank of Montreal in respect of CEBA loans · amount: 40000 · debtor: RH Dentistry · creditor: Bank of Montreal (CEBA loan) · currency: CAD
- unsecured creditorsnote: CEBA loan of $40,000 received by RC Inc.; separate $40,000 CEBA loan also received by RH Dentistry (reported as separate entry). · page: 11 · basis: Ramzi advised he was unaware of any unsecured creditors other than the Bank of Montreal in respect of CEBA loans · amount: 40000 · debtor: RC Inc. · creditor: Bank of Montreal (CEBA loan) · currency: CAD
- fee scheduleengagements: form: prose · rows: · money: fees: quote: HP LLP fees for the period from March 27, 2025 total $20,173.33 · amount: 20173.33 · approximate: false · disbursements: quote: plus disbursements in amount of $299.70 and applicable HST · amount: 299.7 · period: kind: invoice · quote: HP LLP fees for the period from March 27, 2025 total $20,173.33, plus disbursements in amount of $299.70 and applicable HST. · start: 2025-03-27 · approval: state: unstated · averages: · currency: · invoices: tax: 2103.53 · date: 2025-06-11 · fees: 16181 · quote: Ramzi Hindieh Professional Corporation | June 11, 2025 | 32.0 | $16,181.00 | $2,103.53 | $18,284.53 · total: 18284.53; tax: 2601.65 · date: 2025-06-11 · fees: 20012.7 · quote: RC Capital Inc. | June 11, 2025 | 53.0 | $20,012.70 | $2,601.65 | $22,614.35 · total: 22614.35; tax: 4705.18 · fees: 36193.7 · quote: TOTAL | | 85.0 | $36,193.70 | $4,705.18 | $40,898.88 · total: 40898.88 · firm text: HP LLP · firm quote: HP LLP has acted as counsel to the Receiver since its appointment. · context quote: HP LLP fees for the period from March 27, 2025 total $20,173.33, plus disbursements in amount of $299.70 and applicable HST.
- recovery outcomeentries: basis: estimated · quote: As such, there will be no funds available for unsecured or other creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured or other creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-06-20 · table missing: