Ontario · Receivership (court-appointed)
Motion Record of Receiver
Application / notice of application · 31 January 2025
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What we verified from this filing10 verified
- applicantROYAL BANK OF CANADA
- appointeeMNP LTD.
- appointee roleReceiver
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-24-00000178-0000
- provinceONTARIO
- secured creditorsnote: Report states debt 'in the approximate amount of $2.6 million, plus accruing interest and costs of enforcement' (approximation, no exact dated balance provided in excerpted pages); the $2,870,000 mortgage figure is the registered/principal sum secured, not the outstanding balance; also secured by a personal Guarantee and Postponement of Claim (dated May 6, 2022) from director/guarantor Sherin George, limited to a principal amount of $2,450,000 - personal guarantee, individual is a guarantor not a separate creditor. · page: 21 · amount: 2600000 · debtor: 2663308 Ontario Inc. · creditor: Royal Bank of Canada · currency: CAD · security: First ranking charge/mortgage in the principal sum of $2,870,000 registered over the Real Property (387 Maidstone Avenue East, Essex, Ontario); General Security Agreement dated May 6, 2022 from the Debtor.
- unsecured creditorsnote: Of the total HST arrears, $18,462.97 is stated to be deemed trust (deemed-trust class, ranking ahead of ordinary unsecured); remainder is ordinary unsecured. Reported as a single component figure, not summed with source deduction arrears. · page: 23 · as of: pre-receivership debts (as advised to the Receiver) · basis: CRA advised the Receiver of pre-receivership debts (the 'CRA Indebtedness') as reported in the Receiver's First and Final Report · amount: 38877.92 · debtor: 2663308 Ontario Inc. · creditor: Canada Revenue Agency (HST arrears) · currency: CAD
- unsecured creditorsnote: Document states none of this amount has been claimed as deemed trust by CRA. · page: 23 · as of: pre-receivership debts (as advised to the Receiver) · basis: CRA advised the Receiver of pre-receivership debts (the 'CRA Indebtedness') as reported in the Receiver's First and Final Report · amount: 56184.95 · debtor: 2663308 Ontario Inc. · creditor: Canada Revenue Agency (source deduction arrears) · currency: CAD
- fee scheduleengagements: form: invoice_listing · rows: · money: fees: quote: The invoice is dated January 7, 2025 for the period ended December 18, 2024 in the amount of $42,739.50 plus HST. · amount: 42739.5 · approximate: false · period: end: 2024-12-18 · kind: invoice · quote: The invoice is dated January 7, 2025 for the period ended December 18, 2024 in the amount of $42,739.50 plus HST. · approval: state: unstated · averages: rate: 435.67 · quote: The average hourly rate is $435.67. · currency: · invoices: · firm text: MNP Ltd. · firm quote: MNP LTD., in its capacity as the Court-appointed receiver · context quote: MNP LTD., in its capacity as the Court-appointed receiver (the " Receiver ") of the assets, undertakings and properties of 2663308 Ontario Inc.; form: invoice_listing · rows: · money: total: quote: an account dated January 10, 2025 in the amount of $9,180.28 in respect of the period from January 18, 2024 to January 10, 2025; · amount: 9180.28 · approximate: false · period: end: 2025-01-10 · kind: invoice · quote: an account dated January 10, 2025 in the amount of $9,180.28 in respect of the period from January 18, 2024 to January 10, 2025; · start: 2024-01-18 · approval: state: unstated · averages: · currency: · invoices: · firm text: Fogler, Rubinoff LLP · firm quote: FOGLER, RUBINOFF LLP · context quote: Lawyers for the Receiver, MNP Ltd.