Ontario · Bankruptcy
Motion Record of the Trustee – Volume 2 of 2 – Returnable 9 July 2025
Application / notice of application · 9 July 2025
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What we verified from this filing7 verified
- courtONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file noBK-25-03224866-0032
- provinceONTARIO
- secured creditorsnote: Trustee's counsel opinion (Capstone Legal, June 4, 2025) confirms a valid security interest over all of Healthology's personal property enforceable against the trustee, subject to BIA provisions re rental arrears/accelerated rent, and subject to any disclaimer of the lease affecting future-loss claims; no opinion expressed on the quantum of indebtedness secured, so no balance stated in the document · page: 12 · debtor: Healthology International Inc. · creditor: HOOPP Realty Inc. · currency: CAD · security: Lease agreement dated December 6, 2019, as amended by lease amending agreement dated November 17, 2021; PPSA registration No. 20191218 1642 1901 1572 (8-year period), collateral: Inventory, Equipment, Accounts, Other, Motor Vehicle (blanket all-property registrant)
- secured creditorsnote: Blanket all-property registrant; no balance stated in the document · page: 12 · debtor: Healthology International Inc. · creditor: Royal Bank of Canada · currency: CAD · security: PPSA registration No. 20210504 1438 1530 0413 (5-year period), collateral: Inventory, Equipment, Accounts, Other, Motor Vehicle (blanket all-property registrant)
- secured creditorsnote: Serialized-equipment financiers aggregated per PPSA search results (as of June 1, 2025); no balances stated. Two earlier CWB National Leasing Inc. registrations (No. 20200220 1509 6005 7925 and No. 20210212 1415 6005 0012, covering Equipment/Motor Vehicle) have both been discharged and are not reported as current security · page: 12 · debtor: Healthology International Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: CWB National Leasing Inc., registration No. 20220712 1327 6005 1196 (4-year period), collateral: Equipment - 'All racking system of every nature or kind described in agreement number 3095734'; G.N. Johnston Equipment Co. Ltd., registration No. 20230106 1003 1462 9266 (3-year period), collateral: Equipment, Motor Vehicle - 2022 Raymond Lift Truck, Battery M90004S24MARG S/N FEB0698 REF. 642880
- secured creditorsnote: Related party: Bedford identifies himself as 'Owner' on Proof of Claim; Note #1 was originally styled an 'Unsecured Note' but was later secured under the GSA. Debt stated due/in default since May 19, 2025 (date of bankruptcy); Proof of Claim (June 2, 2025) claims $1,903,532.42 as a fully secured claim, superseding the earlier prose figures for the Note and Grid Note. Trustee's counsel opinion flags that the GSA's execution and PPSA registration fall within the 12-month reviewable period under s.95(1)(b) BIA and may be attacked as a preferential transaction. · page: 14 · as of: 2025-05-19 · amount: 1903532.42 · debtor: Healthology International Inc. · creditor: Thomas Austin Bedford · currency: CAD · security: General Security Agreement dated February 18, 2025 securing (a) Grid Note dated June 8, 2021, principal $890,000.00, and (b) Note #1 (November 1, 2020), original principal $1,585,430.08, of which $456,804.42 repaid, leaving outstanding principal of $1,128,625.66 as of February 18, 2025; PPSA registration No. 20250218 1018 1590 8374 (10-year period), blanket collateral: Inventory, Equipment, Accounts, Other, Motor Vehicle