Ontario · Receivership (court-appointed)
Application Record returnable December 4, 2018
Application / notice of application · 27 November 2018
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 filing13 verified
- applicantOWEMANCO MORTGAGE HOLDING CORPORATION
- commencement date27 November 2018
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-18-00609588-00CL
- statutory basiss. 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 as amended and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43
- appointeeRosen Goldberg Inc.
- appointee rolereceiver
- secured creditorsnote: Claim of equitable interest arising from alleged misappropriation of funds; status of underlying claim (CV-18-00601380-0000) unknown; not a conventional mortgage/charge amount. · page: 23 · debtor: Gamini Roy De Silva · creditor: Betty Snell and Dwayne Snell · currency: CAD · security: Certificate of Pending Litigation registered July 18, 2018 (Instrument No. AT4911698) claiming equitable interest in the Property
- secured creditorsnote: Debtor asserts this Second Mortgage was fraudulently registered without his authorization; Owemanco has no knowledge whether true; validity disputed/challenged. · page: 23 · debtor: Gamini Roy De Silva · creditor: Bryan Dougherty, Liam Dougherty and Michael Sharda · currency: CAD · security: Second mortgage/charge registered on title May 23, 2018 (Instrument No. AT4869979), registered principal amount $198,152.00 (parcel register shows $198,153)
- secured creditorsnote: Unrelated to the Property; PIN/vehicle security, not real property mortgage. · page: 24 · as of: 2018-11-19 · debtor: Gamini Roy De Silva · creditor: The Bank of Nova Scotia · currency: CAD · security: PPSA registration relating to security in a motor vehicle
- secured creditorsnote: Claim of constructive trust arising from alleged improper use of loaned funds; status of underlying claim (CV-18-00000246-0000) unknown. · page: 24 · debtor: Gamini Roy De Silva · creditor: Pearl Tumandao · currency: CAD · security: Certificate of Pending Litigation registered August 9, 2018 (Instrument No. AT4931695) claiming constructive trust interest in the Property
- secured creditorsnote: Discharged by Instrument No. AT4948295 registered August 31, 2018 - DISCHARGED, not current. Deemed trust / regulatory class (CRA GST lien). · page: 25 · as of: 2018-02-22 · amount: 6603.71 · debtor: Gamini Roy De Silva · creditor: Her Majesty the Queen in right of Canada (Minister of National Revenue / CRA) · currency: CAD · security: Lien registered under the Excise Tax Act, Instrument No. AT4807519, for outstanding GST
- secured creditorsnote: Amount is outstanding principal ($972,256.90) plus outstanding interest as of Nov 22, 2018 per affidavit table; a prior demand letter dated Sept 18, 2018 stated a payout of $999,110.36 as at that date (different date/components, includes fees and premium); interest continues to accrue at $244.60/day. Secured also by personal guarantee and postponement of claim from Lance Hettiarachchi (Debtor's brother-in-law, related party) - guarantee is not itself a separate secured claim amount. · page: 27 · as of: 2018-11-22 · amount: 992023.59 · debtor: Gamini Roy De Silva · creditor: Owemanco Mortgage Holding Corporation · currency: CAD · security: First-ranking charge/mortgage on 68 Belgrave Avenue, Toronto (the Owemanco Mortgage), registered as Instrument No. AT4653518, principal registered $1,050,000.00; originally in favour of Ontario Wealth Management Corporation, transferred to Owemanco by Transfer of Charge (Instrument No. AT4776017) dated 2018-01-09