Ontario · Receivership (court-appointed)

Notice and Statement of the Receiver dated June 11, 2026

Court officer report · 11 June 2026

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appointeeKPMG Inc.
appointee rolereceiver and manager
commencement date1 June 2026
courtONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
secured creditorsnote: Delivered Notice of Attornment of Rents (~Dec 19, 2025) and posted a Notice of Termination purporting to terminate the lease and re-enter the Premises (~May 29, 2026), claiming rental arrears (quantum not independently verified by Receiver). Also listed separately as a 'Potential Priority Claim' creditor for $295,534.55 as at June 1, 2026 (see unsecured/priority listing). · page: 1 · as of: PPSA registration as of December 8, 2025 · debtor: Asiyans Tex and Giftware Inc. · creditor: Vault Capital Inc. · currency: CAD · security: Mortgagee of the leased Premises; PPSA security registration; amount owed unknown to Receiver
applicantRoyal Bank Canada
financial positionnote: Total assets ($1,225,570) as of April 30, 2026 comprise Inventory ($1,196,342) and Equipment and Fixtures ($29,228, net book value as at May 31, 2024 per unaudited books). Total liabilities figure ($6,207,816.39) is the 'Total Known Creditors' per Appendix A, as at June 1, 2026 (a different date than the asset figure), comprising Total Secured Creditors ($1,549,701.14), Total Potential Priority Claims ($1,697,780.80, including amounts listed as Unknown), and Total Unsecured Creditors ($2,960,334.45). Realizable value of assets may differ materially from book value; several secured/priority amounts are stated as Unknown and are excluded from the stated totals. · page: 2 · as at: 2026-04-30 · basis: Debtor's most recent unaudited financial information available to the Receiver (book values); Receiver has had limited access and has not independently verified records · scope: Entity - Asiyans Tex and Giftware Inc. (non-consolidated) · currency: CAD · total assets: 1225570 · total liabilities: 6207816.39
statutory basissection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
secured creditorspage: 3 · as of: PPSA registration as of December 8, 2025 · debtor: Asiyans Tex and Giftware Inc. · creditor: Grande National Leasing Inc. · currency: CAD · security: PPSA security registration; amount owed unknown to Receiver
secured creditorsnote: Amount per Application Record returnable January 5, 2026; Receiver has not obtained a legal opinion and makes no acknowledgement as to validity of security or quantum claimed. · page: 3 · as of: Receivership Date (June 1, 2026) · amount: 1549701.14 · debtor: Asiyans Tex and Giftware Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement, representing a charge over all assets of the Debtor
secured creditorspage: 3 · as of: PPSA registration as of December 8, 2025 · debtor: Asiyans Tex and Giftware Inc. · creditor: Goldcard Inc. o/a Gold Card Leasing · currency: CAD · security: PPSA security registration; amount owed unknown to Receiver
secured creditorspage: 3 · as of: PPSA registration as of December 8, 2025 · debtor: Asiyans Tex and Giftware Inc. · creditor: DBNC Group Inc. · currency: CAD · security: PPSA security registration; amount owed unknown to Receiver
secured creditorspage: 3 · as of: PPSA registration as of December 8, 2025 · debtor: Asiyans Tex and Giftware Inc. · creditor: Newroads Automotive Group Ltd. · currency: CAD · security: PPSA security registration; amount owed unknown to Receiver
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 210 · debtor: Asiyans Tex and Giftware Inc. · creditor: DahNAY Logistics · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 182.18 · debtor: Asiyans Tex and Giftware Inc. · creditor: DHL Customs Brokerage Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 802.34 · debtor: Asiyans Tex and Giftware Inc. · creditor: DHL Express Canada Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 423.75 · debtor: Asiyans Tex and Giftware Inc. · creditor: Eelam Telecom · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 10566.51 · debtor: Asiyans Tex and Giftware Inc. · creditor: Enbridge Gas Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 678 · debtor: Asiyans Tex and Giftware Inc. · creditor: Focus Marketers · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 1376.42 · debtor: Asiyans Tex and Giftware Inc. · creditor: Infinity Glove & Safety · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 29.38 · debtor: Asiyans Tex and Giftware Inc. · creditor: Johnny Sewing Machine · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 13810.65 · debtor: Asiyans Tex and Giftware Inc. · creditor: Lee Ying Hong Canada · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 211.86 · debtor: Asiyans Tex and Giftware Inc. · creditor: Leslie Street Paint & Design Centre Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 1262394.3 · debtor: Asiyans Tex and Giftware Inc. · creditor: Luxecubes Construction & Mechanical Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 3388.87 · debtor: Asiyans Tex and Giftware Inc. · creditor: Midas International Ltd. · currency: CAD
unsecured creditorsnote: Unnamed/aggregated miscellaneous vendor balance as reported. · page: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 1925.52 · debtor: Asiyans Tex and Giftware Inc. · creditor: Miscellaneous Vendor · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 2851.27 · debtor: Asiyans Tex and Giftware Inc. · creditor: Ministry of Finance (Ontario) · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 672.35 · debtor: Asiyans Tex and Giftware Inc. · creditor: Nandish Technologies Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 58154.85 · debtor: Asiyans Tex and Giftware Inc. · creditor: Orbit Brokers And Forwarders Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 331.09 · debtor: Asiyans Tex and Giftware Inc. · creditor: Overseas Trading Co. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 81.08 · debtor: Asiyans Tex and Giftware Inc. · creditor: Pearl Paper Products · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 250018.79 · debtor: Asiyans Tex and Giftware Inc. · creditor: Receiver General · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 33660.33 · debtor: Asiyans Tex and Giftware Inc. · creditor: Strategic IT Business Solutions · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 101.53 · debtor: Asiyans Tex and Giftware Inc. · creditor: Taas Enterprises Limited · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 695.31 · debtor: Asiyans Tex and Giftware Inc. · creditor: Telus · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 4820.52 · debtor: Asiyans Tex and Giftware Inc. · creditor: The Brick · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 750.53 · debtor: Asiyans Tex and Giftware Inc. · creditor: The Tile Shoppe Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 19252.7 · debtor: Asiyans Tex and Giftware Inc. · creditor: Toronto Hydro-Electric System Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 94.78 · debtor: Asiyans Tex and Giftware Inc. · creditor: Toronto Hydro Energy Services · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 401.54 · debtor: Asiyans Tex and Giftware Inc. · creditor: U-Haul Equipment Contract · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 16766.94 · debtor: Asiyans Tex and Giftware Inc. · creditor: ULINE · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 52.77 · debtor: Asiyans Tex and Giftware Inc. · creditor: UPS Canada · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 1322.56 · debtor: Asiyans Tex and Giftware Inc. · creditor: Workplace Safety & Insurance Board · currency: CAD
unsecured creditorsnote: Listed as an ordinary unsecured claim, distinct from the 'Potential Priority Claim' Various Employees entry (Unknown amount). · page: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 3559.5 · debtor: Asiyans Tex and Giftware Inc. · creditor: Various Employees · currency: CAD
unsecured creditorsnote: Listed under 'Potential Priority Claims'; preferred ranking ahead of ordinary unsecured claims. · page: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) - Potential Priority Claim · amount: 1402246.25 · debtor: Asiyans Tex and Giftware Inc. · creditor: Canada Revenue Agency · currency: CAD
unsecured creditorsnote: Preferred/priority claim; same party also listed as a secured creditor (PPSA) with quantum unknown and as Mortgagee of the Premises. · page: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) - Potential Priority Claim · amount: 295534.55 · debtor: Asiyans Tex and Giftware Inc. · creditor: Vault Capital Inc. · currency: CAD
unsecured creditorsnote: Preferred wage-related claim; amount listed as Unknown. A separate 'Various Employees' unsecured claim of $3,559.50 is also listed under ordinary unsecured creditors. · page: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) - Potential Priority Claim · debtor: Asiyans Tex and Giftware Inc. · creditor: Various Employees · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 1257168.7 · debtor: Asiyans Tex and Giftware Inc. · creditor: 2505747 Ontario Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 129.26 · debtor: Asiyans Tex and Giftware Inc. · creditor: 407 ETR · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 5085 · debtor: Asiyans Tex and Giftware Inc. · creditor: 8041393 Canada Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 904 · debtor: Asiyans Tex and Giftware Inc. · creditor: Action Leds Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 226 · debtor: Asiyans Tex and Giftware Inc. · creditor: ADD Printing and Packaging · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 1243 · debtor: Asiyans Tex and Giftware Inc. · creditor: Apex Creations · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 4389.98 · debtor: Asiyans Tex and Giftware Inc. · creditor: Bell Canada · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 81.76 · debtor: Asiyans Tex and Giftware Inc. · creditor: Canada Post · currency: CAD
unsecured creditorspage: 6 · as of: 2026-06-01 · basis: Listing of Creditors as reported (Appendix A) · amount: 1518.53 · debtor: Asiyans Tex and Giftware Inc. · creditor: Cintas Canada Limited · currency: CAD