Ontario · Receivership (court-appointed)
Motion to Quash Appeal
Application / notice of application · 20 June 2023
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What we verified from this filing7 verified
- applicantBusiness Development Bank of Canada
- courtCOURT OF APPEAL FOR ONTARIO
- court file noCOA-23-CV-0614
- statutory basissubsection 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
- secured creditorsnote: PPSA search reveals subsequent registration by Royal Bank of Canada; amount not stated in these pages · page: 8 · debtor: 170 Willowdale Investments Corp. · creditor: Royal Bank of Canada · currency: CAD · security: PPSA registration (subsequent to BDC)
- secured creditorsnote: Referred to as the 'Private Lender' and '3rd mortgagee' of BDC's mortgage security in BDC amendment letter; PPSA search reveals subsequent registration by this entity; amount not stated in these pages · page: 94 · debtor: 170 Willowdale Investments Corp. · creditor: 729171 Alberta Inc. · currency: CAD · security: Charge registered April 20, 2018 (instrument AT4846838), third mortgage
- secured creditorsnote: First-ranking registered secured creditor under PPSA; outstanding principal balance per BDC Letter of Amendment dated August 19, 2021, restructuring the Loan; capitalized interest and interest arrears paid off separately; personal guarantees from Raymond Zar and Maryam Rezaee (individuals) also secure the debt · page: 97 · as of: 2021-08-19 · amount: 3503674.26 · debtor: 170 Willowdale Investments Corp. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: First readvanceable mortgage (Charge, instrument AT5019987, registered principal $3,558,000.00); General Security Agreement (all present and after-acquired personal property, PPSA registered); General Assignment of Rents (instrument AT5019994); Guarantee of Mary-Am Hospitality Corp.; Joint and Several Guarantee of Raymond Zar and Maryam Rezaee for 10% of Loan amount outstanding