Ontario · Receivership (court-appointed)
Application Record of the Applicant, The Toronto-Dominion Bank dated October 30, 2024;
Application / notice of application · 30 October 2024
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What we verified from this filing10 verified
- applicantTHE TORONTO-DOMINION BANK
- commencement date30 October 2024
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-24-00005012-0000
- provinceONTARIO
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3, as amended and section 101 of the Courts of Justice Act
- secured creditorsnote: HST arrears owed by SOI; deemed trust class claim (quasi-governmental) · page: 11 · as of: 2024-07-31 · amount: 503478 · debtor: Stevens Omni Inc. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Registration amount stated in connection with SOI's default; no date of balance given, treated as a registered claim amount rather than a dated outstanding balance · page: 11 · amount: 23259 · debtor: Stevens Omni Inc. · creditor: Her Majesty in Right of Ontario, as represented by the Minister of Finance (Ministry of Finance, AM & Collections Branch) · currency: CAD · security: PPSA registration (registered claim, cited as a default trigger under the Letter Agreement)
- secured creditorsnote: Exact dated balance per demand letter, comprised of Operating Loan $2,822,678.63, Visa (4 cards) $8,024.27 and Paid Professional Fees $7,104.46; plus Visa Contingency of $82,500.00 and Admin/Discharge Fees of $25,000.00 due on payout. Same figure and date cited in Notice of Application para 5 as the 'Indebtedness'. Earlier forbearance-period balance of $3,177,567.69 as at September 19, 2023 (Exhibit K letter) is superseded. · page: 205 · as of: 2024-08-21 · amount: 2837807.36 · debtor: Stevens Omni Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated October 1, 2012 (all present and after-acquired personal property); Bank Act Security dated October 1, 2021; perfected PPSA Financing Statement; Operating Loan facility limit $5,000,000; Credit Card Facility limit $136,000 (facility limits, not balances)
- secured creditorsnote: SoFlex is liable as guarantor for the same Bank indebtedness owed by Stevens Omni Inc.; guarantee is unlimited in sum · page: 208 · as of: 2024-08-21 · amount: 2837807.36 · debtor: SoFlex Logistics Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: Guarantee dated October 1, 2012, unlimited in sum, in relation to SOI's indebtedness, supported by General Security Agreement from SoFlex dated October 1, 2012; perfected PPSA Financing Statement