Ontario · Receivership (court-appointed)
Motion Record of the Plaintiffs dated September 17, 2026
Application / notice of application · 17 September 2026
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 filing7 verified
- applicantVECTOR FINANCIAL SERVICES LIMITED and OLYMPIA TRUST COMPANY
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-26-00000375-0000
- secured creditorsnote: Amount is the stated total payable per the Sept 8, 2026 payout statement: principal $25,000,000.00 + interest at 6.000% $1,183,706.78 + loan charges $86,046.88; plus per diem interest ($4,342.96), costs, legal fees and disbursements not included. Earlier payout statement of 2026-04-24 showed $25,624,575.53. Borrower in default since April 2026 (missed interest payments) and for permitting a further charge without consent; demand and BIA s.244 NOITES served 2026-04-24. Lenders are also the plaintiffs seeking receivership. · page: 10 · as of: 2026-09-08 · amount: 26269753.66 · debtor: RSG Mayfield Inc. · creditor: Vector Financial Services Limited and Olympia Trust Company (80%/20% interests) · currency: CAD · security: First-ranking Charge/Mortgage of Land PR4460892 (registered 2025-05-12) over 0 Mayfield Road, Brampton (PINs 14222-0290 and 14222-0291); General Assignment of Rents PR4460923; General Security Agreement dated 2025-05-09; PPSA registration; unlimited guarantee/Covenant and Postponement of Claim from Rajvinder Singh Grewal (2025-05-09). Registered charge principal $25,000,000 (maximum principal amount, a registration figure, not a balance).
- secured creditorsnote: Registered without the first lender's knowledge or consent; constitutes an event of default under the first mortgage. It replaced the Avtar Charge, discharged the same day (PR4595581); consideration and relationship between the two transactions unknown to the Lender. Outstanding balance not stated. Represented by A.S Law Office per service list. · page: 11 · debtor: RSG Mayfield Inc. · creditor: Jagtar Raman and Inderjit Dhugga (second mortgagees) · currency: CAD · security: Charge registered 2026-05-26 as Instrument PR4595903, principal amount $8,100,000 (registered principal, not a stated outstanding balance)
- secured creditorsnote: DISCHARGED on 2026-05-26 by Instrument PR4595581 without the first lender's knowledge or consent; not a current security interest. Discharge circumstances unknown. · page: 11 · debtor: RSG Mayfield Inc. · creditor: Avtar Singh Grewal · currency: CAD · security: Charge PR4460924 registered 2025-05-12, principal $3,500,000 (registered principal, not a balance); subordinated to the Vector/Olympia mortgage under a Subordination and Standstill Agreement
- unsecured creditors