Ontario · Receivership (court-appointed)
Motion Record - Returnable on December 9, 2025
Application / notice of application · 9 December 2025
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What we verified from this filing11 verified
- applicantNATIONAL BANK OF CANADA
- commencement date26 November 2025
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00091460-0000
- provinceONTARIO
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- appointeeMNP Ltd.
- appointee rolereceiver
- secured creditorsnote: Amount per affidavit of Raymond Pai of National Bank, sworn August 11, 2025, stating $8,138,715.62 owing under the National Bank Loan as at July 14, 2025 (original p.15). The same figure is restated in the First Report as the 'Secured Indebtedness' but 'as at July 17, 2025' (original p.21) - discrepancy in stated date noted; amount unchanged. Receiver made interim distributions totalling $100,000 to National Bank on account of this debt on the assumption its security is valid and enforceable; National Bank has agreed to return the distributions if its security is later found invalid, unenforceable, or subordinate (original p.21). Canadian Western Bank amalgamated into National Bank of Canada effective March 1, 2025. · page: 15 · as of: 2025-07-14 · amount: 8138715.62 · debtor: R-Chad Investment Inc. · creditor: National Bank of Canada (formerly Canadian Western Bank) · currency: CAD · security: First-ranking mortgage and assignment of rents registered on title to the Real Property (675-705 Remembrance Road, Brampton, ON); first-ranking security interest in all of the Debtor's personal property, assets and undertaking registered under the PPSA
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: HST · quote: 10,400.00 · amount: 10400 · fees: quote: 80,000.00 · amount: 80000 · total: quote: 90,400.00 · amount: 90400 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2025-10-15 · kind: cumulative · quote: period ended October 15, 2025. · start: 2025-06-19 · approval: state: unstated · averages: rate: 465.93 · quote: The average hourly rate in respect of the account is $465.93. · currency: · invoices: tax: 10400 · date: 2025-10-19 · fees: 80000 · quote: 12746955 | 19-Jun-2025 | 15-Oct-2025 | 171.70 | 80,000.00 | | 10,400.00 | 90,400.00 · total: 90400 · period end: 2025-10-15 · average rate: 465.93 · period start: 2025-06-19 · firm text: MNP Ltd. · firm quote: SUMMARY OF STATEMENTS OF ACCOUNT OF MNP LTD IN ITS CAPACITY AS COURT APPOINTED RECEIVER FOR THE PERIOD ENDED OCTOBER 15, 2025 · hours total: quote: 171.70 · value: 171.7 · context quote: the Court-appointed receiver the ' Receiver ') without security, of all of the assets, undertakings and properties of R-Chad Investment Inc.; form: time_summary · rows: Atulya Sheth; Chahna Nathwani; Cory Katzman; Craig Burkart; Deborah Hornbostel; Evani Patel; Jerry Henechowicz; Reina Patel; Satnam Batth; Simone Novik; fees: 87894 · hours: 171.7 · quote: Total | 171.70 | | 87,894.00 · row kind: subtotal · rate kind: standard · name as stated: Total · money: fees: quote: Total | 171.70 | | 87,894.00 · amount: 87894 · approximate: false · period: end: 2025-10-15 · kind: invoice · quote: FOR THE PERIOD JUNE 19 TO OCTOBER 15, 2025 · start: 2025-06-19 · approval: state: unstated · averages: · currency: · invoices: · firm text: MNP Ltd. · firm quote: MNP LTD COURT APPOINTED RECEIVER AND MANAGER OF R-CHAD INVESTMENTS INC. · hours total: quote: Total | 171.70 · value: 171.7 · context quote: the Court-appointed receiver the ' Receiver ') without security, of all of the assets, undertakings and properties of R-Chad Investment Inc.; form: rate_chart · rows: Lisa Corne; Alexandra Weir · money: fees: quote: 10.30 | $ 10,165.00 · amount: 10165 · approximate: false · period: end: 2025-10-31 · kind: invoice · quote: For the period September 9, 2025 to October 31, 2025 · start: 2025-09-09 · approval: state: unstated · averages: rate: 1162.5 · quote: Average hourly rate | $1,162.50 · currency: · invoices: · firm text: Dickinson Wright LLP · firm quote: Billing Rates of Dickinson Wright LLP · hours total: quote: 10.30 | $ 10,165.00 · value: 10.3 · context quote: Lawyers for MNP Ltd., in its capacity as Court-appointed Receiver
- recovery outcomeentries: basis: actual · quote: The Receiver made interim distributions totalling $100,000 to National Bank, on account of its Secured Indebtedness, on the assumption that its security is valid and enforceable. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 100000 · cumulative: true · amount high: 100000 · class label: National Bank · claims amount: 8138715.62 · creditor name: National Bank of Canada · interim final: interim · conditional on: on the assumption that its security is valid and enforceable; Receiver has obtained confirmation from National Bank to return the interim distributions if its security is determined invalid, unenforceable, or subordinate · claims qualifier: unstated · stated on: 2025-11-25 · table missing: