Quebec · Receivership (court-appointed)
Aplication for the Appointment of a Receiver (French Original Version)
Application / notice of application · 1 April 2026
Also filed as: Aplication for the Appointment of a Receiver (French Original Version)
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 filing8 verified
- applicantBANQUE DE MONTRÉAL
- appointeeRESTRUCTURATION DELOITTE INC.
- courtC O U R S U P É R I E U R E
- provinceQUÉBEC
- statutory basisArticle 243 de la Loi sur la faillite et l’insolvabilité
- appointee roleséquestre
- secured creditorsnote: No amounts stated in the filing. Bank states it cannot determine whether these vehicles remain part of the Débitrice's current fleet and that investigations are required. Grand Touring Financial Services' hypothec was registered notwithstanding that it was not the owner of the Bugatti at the time (per para. 40(f) of the Requête). · page: 12 · debtor: Location John Scotti Inc. · creditor: RDPRM-registered vehicle-specific financiers (movable hypothec / equipment-financing class, PMSI-equivalent) · currency: CAD · security: Individual RDPRM movable hypothecs registered against specific vehicles that may or may not remain in the Débitrice's current portfolio: Grand Touring Financial Services (titulaire/constituant) - Bugatti Chiron Pur 2021, VIN VF9SC3V35MM795027, hypothec without dispossession, RDPRM no. 25-0703852-0004, registered 2025-06-04; Lendcare Capital Inc. - Infiniti QX80 2014, VIN JN8AZ2NC6E9352399, hypothec without dispossession, RDPRM no. 25-0252147-0006, registered 2025-03-04, and Volkswagen Atlas 2018, VIN 1V2HR2CA8JC585692, hypothec without dispossession, RDPRM no. 25-1531882-0011, registered 2025-11-24; My Way Financing Inc. - two Can-Am Outlander 2025 units, VINs 3JB3GA442SJ009251 and 3JB3GA447SJ006457, hypothecs with dispossession, RDPRM nos. 26-0055410-0001 and 26-0055408-0001, both registered 2026-01-16.
- secured creditorsnote: First-ranking secured creditor per RDPRM certified statements (Pièce R-24). Stated 'Endettement' balance of $90,981,375.72 as of 2026-03-26 (per statement of account, Pièce R-23) comprises: Marge de crédit authorized limit $500,000 with unauthorized excess of $13,351,274.13, and Facilité de Location balance of $77,130,101.59. Prior unauthorized-excess snapshots noted in filing: $8,137,019.79 (2025-12-12), $13,179,473.51 (2026-02-03), $12,383,999.89 (2026-02-18), $13,372,140.30 (2026-03-23, 'at least'). Deficit from vehicle sales without loan repayment (77 vehicles) totaled $13,272,327.60, growing to approx. $14,700,000 by 2025-12-31. Personal guarantee/caution obligations of Les Immeubles P. Scotti inc. (a company, not an individual) exist per Lettre d'entente dated 2022-09-16. · page: 12 · as of: 2026-03-26 · amount: 90981375.72 · debtor: Location John Scotti Inc. · creditor: Banque de Montréal · currency: CAD · security: Universal movable hypothecs on all present and future movable property of the Débitrice: (1) Hypothèque 2019, signed 2019-05-22, registered RDPRM 2019-05-23 no. 19-0551072-0001, in the amount of $100,000,000 plus additional hypothec of $20,000,000 (registration ceiling, not a balance); (2) Hypothèque 2021, signed 2021-04-06, registered RDPRM 2021-06-22 no. 21-0687767-0001, in the amount of $150,000,000 plus additional hypothec of $30,000,000 (registration ceiling, not a balance). Bank also holds security under s.427 Bank Act and a general security agreement over inventory and other assets.