Ontario · Receivership (court-appointed)
Motion Record of the Receiver returnable February 13, 2024.PDF
Application / notice of application · 31 January 2024
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 filing6 verified
- applicantMICHAEL FOLEY, JONATHAN WILLIAMS, WILLIAMS VENTURE CAPITAL INC. and CRYSTAL MASTERSON
- appointeeGrant Thornton Limited
- appointee rolereceiver
- courtONTARIO SUPERIOR COURT OF JUSTICE
- court file noCV-23-00082142-0000
- unsecured creditorsnote: Floor/minimum figure ("at least"); unsecured short-term promissory notes issued personally by Grozelle; deposits cycled through Grozelle's accounts total in excess of $102,000,000 due to re-investment/rolling of loans and repeated inter-account transfers; possible additional lenders not yet come forward; no individual creditors named in these pages · page: 23 · as of: commencement of the Receivership proceedings · basis: Receiver's First Report estimate - "it is estimated that Grozelle's creditors were owed at least $15 million" · amount: 15000000 · debtor: Douglas Grozelle / Douglas Grozelle o/a Grozelle Enterprises · creditor: Lenders (140+ individuals and small private holding companies) · currency: CAD