Ontario · Receivership (court-appointed)
Court Order of Honourable Justice Amanda M Blanchard for Appointing Receiver
Receivership order · 27 December 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 filing12 verified · 5 withheld
- applicantParadise Media, Ltd.
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-24-00062711-0000
- provinceONTARIO
- secured creditorsnote: Applicant sought appointment of receiver under s.243(1) BIA/s.101 CJA; costs of application provided for by terms of Applicant's security (para 34); amount not stated · page: 1 · debtor: 2710654 Ontario Inc. · creditor: Paradise Media, Ltd. · currency: CAD · security: Applicant's security (unspecified) over the Property
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- secured creditorsnote: Order gives National Bank consultation/consent rights re: SISP and marketing, and priority payment from Property-generated funds; amount not stated · page: 6 · as of: date of this Order · debtor: 2710654 Ontario Inc. · creditor: National Bank · currency: CAD · security: Debt service/mortgage obligations of Debtor; receiver required to pay amounts outstanding to National Bank as at date of Order and ongoing monthly debt service obligations
- secured creditorsnote: Charge for fees and disbursements of Receiver and counsel; amount not fixed, to be determined on passing of accounts · page: 14 · debtor: 2710654 Ontario Inc. · creditor: Receiver (MNP Ltd.) and its counsel · currency: CAD · security: Receiver's Charge - first charge on the Property in priority to all other security interests, trusts, liens, charges and encumbrances, subject to BIA ss.14.06(7), 81.4(4), 81.6(2)
- secured creditorsnote: Maximum authorized borrowing amount, not an outstanding balance; described as a borrowing ceiling ('does not exceed $250,000 or such greater amount as this Court may by further Order authorize') · page: 15 · as of: date of Order (November 28, 2024) · amount: 250000 · debtor: 2710654 Ontario Inc. · creditor: Receiver's Certificate holders (lenders under Receiver's Borrowings Charge) · currency: CAD · security: Receiver's Borrowings Charge - fixed and specific charge on the Property, subordinate to Receiver's Charge and BIA priority charges
- counselDickinson Wright LLP
- presiding officerJustice Amanda
- presiding officerJustice Amanda
5 extracted values are withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.