Ontario · Receivership (court-appointed)
Application Record (returnable June 17, 2026)
Application / notice of application · 17 June 2026
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What we verified from this filing11 verified
- commencement date16 June 2026
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-26-00000277-0000
- secured creditorsnote: Listed on Service List as 'PPSA Creditor'; no amounts stated in the pages reviewed; aggregated as serialized-equipment/vehicle financiers · page: 9 · debtor: Debtors (per Service List) · creditor: PPSA equipment financiers (PMSI class) - VW Credit Canada Inc., Tesla Motors Canada ULC, Toyota Industries Commercial Finance Canada, Inc., Mercedes-Benz Financial Services Canada Corporation · currency: CAD · security: PPSA registrations (vehicle/equipment financing)
- secured creditorsnote: Listed on Service List as 'PPSA Creditor'; no amount stated · page: 10 · creditor: Ontap Capital Corp. · currency: CAD · security: PPSA registration (per Service List)
- secured creditorsnote: Listed on Service List as 'PPSA Creditor'; no amount stated · page: 10 · creditor: Merchant Opportunities Canada Limited Partnership · currency: CAD · security: PPSA registration (per Service List)
- secured creditorsnote: Listed on Service List as 'PPSA Creditor'; no amount stated · page: 10 · creditor: Driven Financial Technologies Corporation · currency: CAD · security: PPSA registration (per Service List)
- secured creditorsnote: Registered subsequent to BMO's Williams Charge; BMO states it did not consent to this registration and that it is not permitted under BMO's security ('Subsequent Encumbrance') · page: 69 · as of: 2025-10-10 · amount: 310000 · debtor: 2598536 Ontario Inc. (259), owner of the Williams Parkway Property · creditor: Elizabeth Wilson-Mackay · currency: CAD · security: Subsequent charge/mortgage and general assignment of rents registered against the Williams Parkway Property
- secured creditorsnote: USD portion of the 'Demanded Indebtedness' per Demand Letters dated January 8, 2026 (Exhibit T) - principal and interest only, exclusive of legal fees, disbursements and accruing interest · page: 70 · as of: 2026-01-08 · amount: 1482027.79 · debtor: Ruscan Chem Inc., 2598536 Ontario Inc., 2851490 Ontario Inc., GloveIt PurchaseCo (US) Inc., Renewell Nutrition Inc. and GloveIt PurchaseCo Inc. (jointly and severally) · creditor: Bank of Montreal · currency: USD · security: Same security as CAD facility entry (GSAs, US GSA, Charges, IP security, PPSA/UCC registrations)
- secured creditorsnote: CAD portion of the 'Demanded Indebtedness' per Demand Letters dated January 8, 2026 (Exhibit T) - principal and interest only, exclusive of legal fees, disbursements and accruing interest; see separate USD entry for balance of same debt; Debtors' obligations also guaranteed by Raghav Ohri (director/officer of all Debtors - related party) under a limited personal guarantee of $2,750,000 dated Feb 23, 2024, also demanded Jan 8, 2026; arrears stated as approximately $450,000 as of Dec 18, 2025 (prose approximation) / C$446,229.10 per Non-Tolerance Letter dated Dec 18, 2025 (Exhibit R) · page: 70 · as of: 2026-01-08 · amount: 15480477.61 · debtor: Ruscan Chem Inc., 2598536 Ontario Inc., 2851490 Ontario Inc., GloveIt PurchaseCo (US) Inc., Renewell Nutrition Inc. and GloveIt PurchaseCo Inc. (jointly and severally) · creditor: Bank of Montreal · currency: CAD · security: General security agreements (GSAs) from each Debtor; U.S. GSA from GloveIt PurchaseCo (US) Inc.; first-ranking collateral mortgages of $1,320,000 (Bovaird Drive Property) and $2,590,000 (Williams Parkway Property) - registered principal amounts, not balances; general assignments of rent; IP security notices/agreements; PPSA/UCC registrations; Term Sheet facility ceiling of CDN$19,496,631.03 (per Non-Tolerance Letter)
- unsecured creditorsnote: Document states 'material outstanding arrears on account of taxes and other liabilities owed to the federal government' without specifying an amount; deemed-trust class quasi-governmental claim · page: 70 · as of: 2026-01-06 · basis: Notice of Garnishment received by BMO from CRA · debtor: Debtors (Ruscan Chem Inc. et al.) · creditor: Canada Revenue Agency · currency: CAD