Ontario · Receivership (court-appointed)
Application Record of the Applicant dated April 11, 2022
Application / notice of application · 11 April 2022
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 filing6 verified
- secured creditorsnote: Listed among Subsequent Charges; registration details/amount not stated on provided pages · page: 10 · debtor: 2580361 Ontario Inc. · creditor: Comfort Capital Inc. · currency: CAD · security: Subsequent Charge registered on title to Real Property, subsequent to the Bank's Mortgage
- secured creditorsnote: Property Tax Arrears; priority ahead of Bank's Mortgage · page: 10 · as of: 2022-03-28 · amount: 4679.53 · debtor: 2580361 Ontario Inc. · creditor: City of Hamilton · currency: CAD · security: Statutory municipal property tax arrears charge on Real Property, priority over the Mortgage
- secured creditorsnote: 363 Obligations; principal amount plus accruing interest and enforcement costs; component facilities: Operating Facility limit $5,000 (balance $4,994.82 as at April 5, 2022), HASCAP Term Facility $250,000 (balance $251,287.67 as at April 5, 2022), Business Visa limit $10,000 (balance $10,963.53 as at April 5, 2022); also guarantor of 361 Obligations · page: 10 · as of: 2022-04-05 · amount: 267246.02 · debtor: 2580363 Ontario Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement (363 GSA) dated August 21, 2019; Guarantee from 2580361 Ontario Inc. dated August 21, 2019 (unlimited amount) with collateral 361 GSA and Mortgage in principal sum of $1,205,000 (instrument WE1375722) over Real Property, governed by Standard Charge Terms 8520
- secured creditorsnote: 361 Obligations; Term Loan facility limit $1,200,000; cross-guaranteed with 363 Ontario · page: 11 · as of: 2022-04-05 · amount: 1150671.42 · debtor: 2580361 Ontario Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreements (361 GSA and 363 GSA) dated August 21, 2019; Guarantee from 363 Ontario dated August 21, 2019 (unlimited amount); Mortgage/Charge of Land, principal sum $1,205,000, instrument WE1375722 registered August 22, 2019 over Real Property (21 Augusta Street, Hamilton), governed by Standard Charge Terms 8520; first-priority mortgage subject to Property Tax Arrears priority
- secured creditorsnote: Subsequent Charge registered after Bank's first-priority Mortgage; principal amount as registered, not a stated current balance · page: 97 · as of: registration date (2021-07-12) · amount: 246000 · debtor: 2580361 Ontario Inc. · creditor: Olympia Trust Company · currency: CAD · security: Charge/Mortgage registered as WE1528225 on 2021-07-12, principal $246,000, guarantor John Mercante; subsequent to the Bank's Mortgage
- secured creditorsnote: Subsequent Charge registered after Bank's first-priority Mortgage; principal amount as registered, not a stated current balance · page: 101 · as of: registration date (2021-10-29) · amount: 135000 · debtor: 2580361 Ontario Inc. · creditor: Alex Magis · currency: CAD · security: Charge/Mortgage registered as WE1557214 on 2021-10-29, principal $135,000, guarantor John Mercante; subsequent to the Bank's Mortgage