Ontario · Receivership (court-appointed)
Supplementary Motion Record (Motion for Sale Approval and Vesting Order; Discharge Order)
Application / notice of application · 4 September 2020
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 filing10 verified
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-20-00634214-00CL
- provinceONTARIO
- secured creditorsnote: Stated in Receiver's proposed distribution as '$5,693.87 or such other amount due... with respect to property tax arrears' - figure is approximate/subject to confirmation. · page: 9 · amount: 5693.87 · debtor: Cindergirls Inc. · creditor: Municipality of Brighton · currency: CAD · security: Municipal property tax arrears (lien on Real Property)
- secured creditorsnote: Deemed trust class - statutory priority over all other creditors per CRA letter; CRA advised (Aug 31, 2020 email) it will file a further claim reflecting its secured amount on Sept 3, 2020. Report initially misattributed the June 19, 2019 registration to the Municipality of Brighton (as a $34,295 tax arrears certificate); Receiver corrected this - the registration was actually CRA's re payroll liabilities. · page: 9 · as of: 2020-08-27 · amount: 5504.25 · debtor: Cindergirls Inc. (o/a Wain's Garden Centre) · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust re source deductions (Income Tax Act, CPP, EI Act); Document General registered against Real Property (214 Ontario St., Brighton) on June 19, 2019, Instrument No. ND182931
- secured creditorsnote: Amount stated as '$20,000 plus interest'; distinct facility from the First Mortgage debt. · page: 9 · as of: 2020-08-31 · amount: 20000 · debtor: Cindergirls Inc. · creditor: The Bank of Nova Scotia (BNS) · currency: CAD · security: Borrowings (security type not further specified on these pages)
- unsecured creditorsnote: Receiver's Supplement (para 1.0.2) characterizes the full $37,557.55 as the 'unsecured claim,' but CRA's own letter shows this total includes the $5,504.25 deemed trust portion (reported separately as secured) and describes a 'remaining balance' of $32,053.30 after the trust portion - the true non-trust/unsecured remainder. Receiver states no funds are expected to be available to pay CRA on this unsecured/lien portion. · page: 9 · as of: 2020-08-27 · basis: Claim asserted by CRA (Aug 27, 2020 letter) for outstanding payroll source deductions (tax deductions, CPP, EI, penalties/interest, law cost) · amount: 37557.55 · debtor: Cindergirls Inc. (o/a Wain's Garden Centre) · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Stated as a 'maximum' distributable amount pursuant to the First Mortgage; Receiver states a shortfall to BNS from sale proceeds is contemplated. · page: 10 · as of: 2020-08-31 · amount: 416869.72 · debtor: Cindergirls Inc. · creditor: The Bank of Nova Scotia (BNS) · currency: CAD · security: First Mortgage on the Real Property
- counselMinden Gross LLP
- recovery outcomeentries: basis: unstated · quote: $5,693.87 or such other amount due to the Municipality of Brighton with respect to property tax arrears; · pct of: unstated · outcome: distribution · stated by: receiver · amount low: 5693.87 · amount high: 5693.87 · class label: Municipality of Brighton (property tax arrears) · creditor name: Municipality of Brighton · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: (q $20,000 plus interest to BNS with respect to the Borrowings; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 20000 · amount high: 20000 · class label: BNS (Borrowings) · creditor name: BNS · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: c) $5,504.25 to CRA with respect to the Deemed Trust Portion; · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 5504.25 · amount high: 5504.25 · class label: CRA (Deemed Trust Portion) · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: It is contemplated there will be a shortfall in making payment to BNS from the proceeds of the sale of the Real Property. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: BNS (First Mortgage) · creditor name: BNS · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, the Receiver anticipates that there will be no funds available to distribute to CRA with respect to the lien registered on June 19, 2019 regarding the unsecured portion of outstanding payroll liabilities. · pct of: unstated · outcome: nil · class key: deemed_trust · stated by: receiver · class label: CRA (unsecured portion of outstanding payroll liabilities) · creditor name: CRA · interim final: unstated · claims qualifier: unstated · stated on: 2020-08-31 · table missing: