Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 14 April 2025
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What we verified from this filing10 verified
- applicantTIMBERCREEK MORTGAGE SERVICING INC.
- courtONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-25-00741002-00CL
- 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
- commencement date11 April 2025
- secured creditorsnote: Subordinated and postponed to Timbercreek's security pursuant to a standstill and subordination agreement dated May 30, 2023; no outstanding balance stated in these pages. · page: 8 · debtor: 736BST Corp. · creditor: Addison Wealth Management Inc. · currency: CAD · security: Charge/mortgage registered on title to the Real Property on May 30, 2023 in principal amount of $5,000,000; also registered on PPSA against Debtor and Beneficial Owner (registration also in favour of Empirical Capital Corp., 1000568733 Ontario Inc. and Olympia Trust Company).
- secured creditorsnote: Amount is total owing under Credit Agreement and Personal Guarantee for principal and interest, exclusive of legal fees, disbursements and accruing interest, as demanded June 24, 2024; loan matured May 1, 2024 without repayment; subject to a forbearance agreement dated July 12, 2024, extended to April 22, 2025 (now lapsed); also guaranteed personally by Jason Maxwell (director) under a guarantee dated Oct 7, 2022. · page: 9 · as of: 2024-06-18 · amount: 23406107.79 · debtor: 736BST Corp. · creditor: Timbercreek Mortgage Servicing Inc. (through Computershare Trust Company of Canada as custodian/agent/bare trustee) · currency: CAD · security: General security agreement (PPSA registration covering Inventory, Equipment, Accounts, Other); charge/mortgage registered Oct 7, 2022 in principal amount of $23,000,000; general assignment of leases and rents registered Oct 7, 2022; also a charge and direction from beneficial owner 2657819 Ontario Inc.
- secured creditorsnote: Listed as 'Secured Creditor' on service list; amount/balance not stated in these pages. · page: 14 · debtor: 736BST Corp. / 2657819 Ontario Inc. · creditor: 1000568733 Ontario Inc. · currency: CAD · security: PPSA registration (co-registered alongside Addison Wealth Management Inc.) against Debtor and Beneficial Owner; no separate charge/mortgage stated.
- secured creditorsnote: Listed as 'Secured Creditor' on service list; amount/balance not stated in these pages. · page: 14 · debtor: 736BST Corp. / 2657819 Ontario Inc. · creditor: Olympia Trust Company · currency: CAD · security: PPSA registration (co-registered alongside Addison Wealth Management Inc.) against Debtor and Beneficial Owner; no separate charge/mortgage stated.
- secured creditorsnote: Listed as 'Secured Creditor' on service list; amount/balance not stated in these pages. · page: 14 · debtor: 736BST Corp. / 2657819 Ontario Inc. · creditor: Empirical Capital Corp. · currency: CAD · security: PPSA registration (co-registered alongside Addison Wealth Management Inc.) against Debtor and Beneficial Owner; no separate charge/mortgage stated.