Ontario · Receivership (court-appointed)
Motion Record of Trustee returnable October 18, 2022
Application / notice of application · 6 October 2022
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 filing10 verified · 1 withheld
- applicantTHE TORONTO-DOMINION BANK
- appointeeBDO CANADA LTD.
- appointee roleReceiver
- courtONTARIO SUPERIOR COURT OF JUSTICE [COMMERCIAL LIST]
- court file noCV-22-00674747-00CL
- statutory basisSUBSECTION 243(1) 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.43, AS AMENDED
- secured creditorsnote: TD is the only registered secured creditor of the Debtor. Components: Operating line of credit $372,220.64 including interest; Equipment financing term loan principal balance $125,675.53 plus interest; CEBA loan $40,000 — figures are per-facility, not summed by document. Security opinion from Loopstra Nixon LLP confirms TD's security is valid and enforceable against Debtor's personal property in Ontario (opinion attached as Appendix P). Elsewhere in motion (page 12) TD's indebtedness stated in prose as approximately $585,000 plus interest, legal fees and professional fees. · page: 38 · as of: August 29, 2022 · debtor: 9052526 Canada Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: PPSA registrations: (a) particular equipment, (b) all personal property, (c) accounts; TD holds registered security over equipment and a landlord waiver re chattels at 760 Birchmount
- unsecured creditorsnote: Approximate figure ('approximately $50,000'); document names no individual creditors. · page: 39 · as of: 2022-07-15 · basis: Debtor's accounts payable summary dated July 15, 2022, as reported by Receiver · amount: 50000 · debtor: 9052526 Canada Inc. · creditor: Unsecured trade payables (aggregate as reported) · currency: CAD
- secured creditorsnote: Registration status: DISCHARGED as at file currency 03OCT2022 (expiry 09SEP2022) — do not report as current security. · page: 236 · debtor: 9052526 Canada Inc. / WestEast · creditor: Travelers Leasing Ltd. · currency: CAD · security: PPSA registration (Form 1C, file 736320933) over one 2014 Freightliner M2 van body with Thermo King reefer unit and attachments/accessories/proceeds
- secured creditorsnote: Registration status: DISCHARGED as at file currency 03OCT2022 (expiry 05AUG2022) — do not report as current security. Includes personal debtor Sad A Sheikh (individual) as additional debtor on registration. · page: 241 · debtor: 9052526 Canada Inc. / WestEast / Sad A Sheikh · creditor: Toyota Industries Commercial Finance Canada, Inc. · currency: CAD · security: PPSA registration (Form 1C, file 740035251) over material handling equipment and related parts/attachments/proceeds
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.