Ontario · Receivership (court-appointed)
Supplementary Affidavit Chawin Vajanopath – Applicant – 09 Dec 2025
Affidavit · 9 December 2025
What we verified from this filing1 verified
- secured creditorsnote: Amount is the exact indebtedness acknowledged by the Borrowers as of June 5, 2025 in the Forbearance Agreement (principal, interest and fees, excluding legal costs); continues to accrue interest, fees and costs thereafter. Original loan facility was $10,250,000 to refinance existing debt plus a Credit Facility for soft costs, up to a maximum total loan amount of $15,000,000 (facility limit, not the outstanding balance). Also secured by a personal guarantee of Mohammed Irfan Ahmed (individual guarantor) and a guarantee from AG (1000 & 1024 Dundas St. E.) GP Inc. (a co-borrower acting as guarantor - related party). Borrower defaulted on maturity May 1, 2025; Lender's solicitor sent Demands and BIA s.244 Notice on June 5, 2025. Parties subsequently entered a Forbearance Agreement dated September 30, 2025, adjourning receivership application to December 8, 2025; Borrowers/Guarantors do not dispute the indebtedness. · page: 6 · as of: 2025-06-05 · amount: 14898299.84 · debtor: AG (1000 & 1024 Dundas St. E.) GP Inc. and AG (1000 & 1024 Dundas St. E.) LP · creditor: Morrison Financial Mortgage Corporation · currency: CAD · security: Charge/Mortgage registered April 25, 2023 as Instrument No. PR4192518 for principal sum of $15,000,000.00 against 1000 Dundas St. E., Mississauga; First ranking Charge/Mortgage registered April 25, 2023 as Instrument No. PR4192520 against 1024 Dundas St. E., Mississauga (amount not stated); General Security Agreement dated April 24, 2023, registered under the PPSA (Ref. File No. 792617229); General Assignment of Rents registered April 25, 2023 as Instrument Nos. PR4192519 and PR4192521 against both properties