Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 13 October 2017
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What we verified from this filing12 verified
- applicantONTARIO WEALTH MANAGEMENT CORPORATION
- commencement date13 October 2017
- courtONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-17-584247-00CL
- statutory basiss. 243 of the Bankruptcy and Insolvency Act, section 68 of the Construction Lien Act, and section 101 of the Courts of Justice Act
- secured creditorsnote: Registered lien amount; remains unremoved contrary to lending arrangements with Owemanco. · page: 12 · as of: 2017-06-09 (registered); perfected 2017-09-12 · amount: 288255 · debtor: 1735549 Ontario Inc. · creditor: W.G. Jackett and Sons Construction Limited · currency: CAD · security: Construction lien registered against the Debtor's real property
- secured creditorsnote: Stated in Application grounds as entire loan now due and owing inclusive of interest and legal fees to date of notice; compare with $842,090.27 principal stated in affidavit (p.18) - likely the same debt at two dates/inclusions. · page: 12 · as of: date of notice (October 11, 2017) · amount: 872739.19 · debtor: 1735549 Ontario Inc. · creditor: Ontario Wealth Management Corporation (Owemanco) · currency: CAD · security: Charge, assignment of rents, GSA, guarantee/postponement of claim and collateral GSA from Greg Knight
- secured creditorsnote: Principal outstanding is $842,090.27 as sworn; application/grounds paragraph states loan now due and owing including interest and legal fees totalling $872,739.19 as of the notice date (October 11, 2017) - see application record p.12. Original loan advanced was $2,400,000 (Fall 2016), a facility amount, not the current balance. · page: 18 · as of: presently (as sworn October 10, 2017) · amount: 842090.27 · debtor: 1735549 Ontario Inc. · creditor: Ontario Wealth Management Corporation (Owemanco) · currency: CAD · security: Charge over the Debtor's real property, assignment of rents, general security agreement; also guarantee and collateral GSA from Greg Knight (principal/guarantor)
- secured creditorsnote: Registered principal amount, not confirmed current outstanding balance; postponed in priority to Owemanco's security by registration on title. · page: 18 · as of: 2014-08-25 · amount: 550000 · debtor: 1735549 Ontario Inc. · creditor: Bank of Nova Scotia Trust Company · currency: CAD · security: First mortgage registered August 25, 2014
- secured creditorsnote: Registered principal amount, not confirmed current outstanding balance; subordinate to Owemanco by time of registration. Also referred to as 'Thomas and Gayle Pickard' elsewhere in document (spelling inconsistency in source). · page: 18 · as of: 2017-04-07 · amount: 100000 · debtor: 1735549 Ontario Inc. · creditor: Thomas and Dayle Pinckard · currency: CAD · security: Second mortgage registered April 7, 2017
- secured creditorsnote: Municipal taxes; document notes non-payment gives the City statutory priority rights ahead of Owemanco's security - regulatory/statutory priority class. · page: 18 · as of: 2017-09-22 · amount: 6908.65 · debtor: 1735549 Ontario Inc. · creditor: City of Kawartha Lakes · currency: CAD · security: Statutory priority for unpaid municipal taxes on the 6 unsold units
- secured creditorsnote: Condominium fee arrears; document notes non-payment gives condominium corporation statutory rights in priority to Owemanco's security. · page: 19 · as of: 2017-09-27 · amount: 5135.57 · debtor: 1735549 Ontario Inc. · creditor: Victoria Standard Condominium Corporation No. 29 · currency: CAD · security: Statutory priority for unpaid condominium fee arrears on 6 unsold units