Ontario · Receivership (court-appointed)
Second Supplementary Report to the First Report of the Receiver
Court officer report · 23 November 2012
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
- secured creditorsnote: Security opinion confirms PMSI is valid; amount not stated · page: 3 · debtor: 1791979 Ontario Inc. · creditor: Irving Oil · currency: CAD · security: PMSI over the fuel dispensing system at the Property
- secured creditorspage: 6 · as of: 2012-11-07 · amount: 1122615.42 · debtor: 1791979 Ontario Inc. · creditor: Second-ranking secured lenders (syndicated loan arranged by Rescom Capital; investors: Yerusha Investments Inc., Diane Graftstein, Bamburgh Holdings Ltd., Sheldon Tarek, Marvin Teperman, Robert Weingarden, M. Himel Holdings Inc., Natme Holdings Ltd., Evelyn Charendoff, Ridgeway Occupational Consultants Inc.) · currency: CAD · security: Second Mortgage
- secured creditorsnote: Guarantor of the Third Mortgage is Muhammad Latif, principal of SMEI, the stalking horse purchaser; also referenced elsewhere as a debt of approximately $171,000/$171,979 · page: 6 · as of: 2012-11-07 · amount: 178647.57 · debtor: 1791979 Ontario Inc. · creditor: Comfort Capital Inc. (controlled by Harry Erlich) · currency: CAD · security: Third Mortgage
- secured creditorsnote: Amount excludes legal fees in obtaining the Receiver's appointment ($10,718.27, listed separately); excludes any realty tax arrears and statutory super-priorities owing by the Debtor · page: 6 · as of: 2012-11-07 · amount: 731075.2 · debtor: 1791979 Ontario Inc. · creditor: First-ranking secured lenders (syndicated loan arranged by Rescom Capital; investors: Martin Handelman, Stephen Handelman, B&M Handelman Investments Limited, Orenbach Investments Limited, Yorkdale Contract Interiors Limited, M.W. Trust) · currency: CAD · security: First Mortgage
- secured creditorsnote: Administrative charge ranking in priority to SMV Financial Services Inc. · page: 6 · as of: 2012-11-07 · amount: 35000 · debtor: 1791979 Ontario Inc. · creditor: Receiver (SF Partners Inc.) - fees · currency: CAD · security: Priority ranking ahead of most junior secured creditor per receivership order
- secured creditorsnote: Administrative charge ranking in priority to SMV Financial Services Inc. · page: 6 · as of: 2012-11-07 · amount: 19930.82 · debtor: 1791979 Ontario Inc. · creditor: Counsel to the Receiver - legal fees · currency: CAD · security: Priority ranking ahead of most junior secured creditor per receivership order
- secured creditorsnote: Amount not stated in these pages; described as 4th mortgagee, junior to first, second and third mortgages · page: 18 · debtor: 1791979 Ontario Inc. · creditor: SMV Financial Services Inc. (principal: Sunil Bhardwaj) · currency: CAD · security: Fourth mortgage (most junior ranking secured creditor)