Ontario · Receivership (court-appointed)
Application Record - RBC dated March 27, 2024
Application / notice of application · 27 March 2024
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What we verified from this filing5 verified
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-24-00001450-0000
- commencement date27 March 2024
- secured creditorsnote: These registrations rank ahead of RBC's all-collateral registration only with respect to the specific equipment/vehicles they cover; no balances or amounts stated in the document · page: 9 · debtor: Chill X Trans Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: PPSA registrations over specific equipment and motor vehicles only (not all-collateral); registrants named: Evolution Capital Corporation, Coast Capital Equipment Finance Ltd., Mitsubishi HC Capital Canada Leasing, Inc., Wells Fargo Equipment Finance Company, De Lage Landen Financial Services Canada Inc., and Bank of Montreal
- secured creditorsnote: Total per Demand Letter and BIA Notice dated January 24, 2024, exclusive of legal fees, disbursements and accruing interest, which continues to accrue; breakdown per Demand Letter: RCL 07512 75184961 001 principal $1,800,000.00 plus interest $11,584.11; RBC Lease L#2010000777683 principal $170,790.72; RCAP Lease Contract 78577 principal $103,176.35; RCAP Lease Contract 81280 principal $150,288.01; Visa 4514031010965263 principal $186,505.88. RCAP Leasing Inc. is a wholly owned subsidiary of RBC (related party). Debtor's obligations also guaranteed by directors/guarantors Fozia Javed and Shahid Tariq under a Guarantee and Postponement of Claim dated July 10, 2023 limited to $600,000, with related Postponement and Assignment of Claim agreements subordinating the Guarantors' claims against the Debtor to RBC. RBC's all-collateral registration ranks ahead of all other secured creditors except certain registrations over specific collateral held by named equipment/vehicle financiers. · page: 184 · as of: 2024-01-23 · amount: 2422345.07 · debtor: Chill X Trans Inc. · creditor: Royal Bank of Canada and RCAP Leasing Inc. · currency: CAD · security: General Security Agreement dated July 10, 2023 (first-ranking security interest in all present and after-acquired personal property of the Debtor, registered under the PPSA (Ontario)); also secures Credit Agreement dated July 10, 2023 ($1,800,000 revolving demand facility and $700,000 revolving lease line), Master Lease Agreement dated December 1, 2023, Conditional Sale Agreement no. 78577 dated August 3, 2023, and Lease Contract no. 579620-81280 dated September 27, 2023