Ontario · Interim receivership
Application Record dated December 22, 2025
Application / notice of application · 22 December 2025
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What we verified from this filing17 verified
- applicant770 CORP.
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-25-00753625-0000
- statutory basissubsection 47(1) and 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
- appointeeKSV Advisory Inc.
- appointee roleProposed Interim Receiver or Receiver
- commencement date19 December 2025
- unsecured creditorsnote: Unpaid employee vacation pay; wage-related claim, may be preferred under BIA though not expressly labelled preferred in this document. · page: 29 · as of: 2025-12-05 · basis: December 5 Email breakdown as reported in affidavit (Exhibit R) · amount: 50000 · debtor: PerfectKo Limited Partnership · creditor: Employees (vacation pay obligations) · currency: CAD
- unsecured creditorsnote: GST/HST obligations; deemed trust class quasi-governmental claim. · page: 30 · as of: reporting periods ending July 31, August 31, September 30, and October 31, 2025 · basis: CRA Account Summaries (Exhibit S) as reported in affidavit · amount: 275708.49 · debtor: PerfectKo Limited Partnership · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Outstanding rent and utilities, approximate figure disclosed by CFO; potentially preferred landlord claim under BIA but not expressly labelled preferred in this document. · page: 30 · as of: 2025-12-05 · basis: December 5 Email breakdown as reported in affidavit (Exhibit R) · amount: 115000 · debtor: PerfectKo Limited Partnership · creditor: Landlord (Promenade Limited Partnership) · currency: CAD
- unsecured creditorsnote: Unpaid payroll remittances; deemed trust class quasi-governmental claim. · page: 30 · as of: reporting period ending November 30, 2025 · basis: CRA Account Summaries (Exhibit S) as reported in affidavit · amount: 15103.59 · debtor: PerfectKo Limited Partnership · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Demand letters dated December 19, 2025 demanded $12,666,844.03 for principal and interest as of December 16, 2025, plus accruing interest and costs; BIA s.244(1) Notices of Intention to Enforce Security delivered same date. Also secured by unlimited liability guarantee from PerfectKo GP Inc. (related party - sole general partner of the Borrower, guarantee dated July 11, 2024). · page: 31 · as of: 2025-12-16 · amount: 12666844.03 · debtor: PerfectKo Limited Partnership · creditor: 770 Corp. · currency: CAD · security: General Security Agreement dated July 11, 2024 over all present and after-acquired personal property; PPSA financing statements registered against each Debtor; non-revolving term loan facility of $12,500,000 (original principal advanced)
- secured creditorsnote: Guarantor is the sole general partner of the Borrower; guarantee obligations are unlimited and secured by same GSA/Secured Obligations definition; demand and BIA Notice also delivered to this Debtor December 19, 2025. · page: 31 · as of: NOI filing date · debtor: PerfectKo GP Inc. · creditor: 770 Corp. (as against PerfectKo GP Inc., Guarantor) · currency: CAD · security: Unlimited liability guarantee dated July 11, 2024 of the Borrower's Secured Obligations under the GSA
- unsecured creditorsnote: Outstanding construction bills of $364,000 (over 365 days overdue) plus $113,000 for HVAC work; document states components, not summed by document itself but presented together as a combined line item ($364,000 + $113,000) in the source email - reported as stated. · page: 322 · as of: 2025-12-05 · basis: December 5 Email breakdown as reported by CFO Michael Pok (page 322-323) · amount: 477000 · debtor: PerfectKo Limited Partnership · creditor: General contractor (construction/HVAC) · currency: CAD
- unsecured creditorsnote: Legal bills not yet pressed by counsel at time of email; document names no individual creditors. · page: 323 · as of: 2025-12-05 · basis: December 5 Email breakdown as reported by CFO Michael Pok - aggregate figure, no individual creditors named · amount: 300000 · debtor: PerfectKo Limited Partnership · creditor: Legal counsel (aggregate legal bills) · currency: CAD
- unsecured creditorsnote: Vendor payables described as needed to get 'within terms'; document names no individual creditors. · page: 323 · as of: 2025-12-05 · basis: December 5 Email breakdown as reported by CFO Michael Pok - aggregate figure, no individual creditors named · amount: 600000 · debtor: PerfectKo Limited Partnership · creditor: Vendors (trade payables, aggregate) · currency: CAD
- unsecured creditorsnote: Loan interest due at end of month; this is interest on the 770 Corp. secured loan, listed separately in the CFO's internal breakdown. · page: 323 · as of: end of December 2025 · basis: December 5 Email breakdown as reported by CFO Michael Pok · amount: 155000 · debtor: PerfectKo Limited Partnership · creditor: Lender (interest component) · currency: CAD