Ontario · Receivership (court-appointed)
Application Record dated March 11, 2025.pdf
Application / notice of application · 11 March 2025
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 filing9 verified
- applicantRoyal Bank of Canada
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00001272-0000
- provinceONTARIO
- statutory basisBankruptcy and Insolvency Act, s 243(1); Courts of Justice Act, s101
- commencement date7 March 2025
- secured creditorsnote: Also stated as $2,012,091.49 as at February 19, 2025 in para 28 of the affidavit (apparent typographical discrepancy from $2,012,901.49 in the Notice of Application); RBC is the only secured creditor registered against 100; RBC also holds Guarantees from 100 and CAMA cross-guaranteeing each other's facilities (limited to $1,100,000 and $1,200,000 respectively) and Personal Guarantees from Amir Abbas Haydarian (director/personal guarantor - related party) limited to $1,100,000 and $1,200,000 respectively · page: 4 · as of: 2025-02-19 · amount: 2012901.49 · debtor: Canadian Association Medical Aesthetics Inc. and 1000237264 Ontario Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreements (CAMA and 100, Aug 31, 2023) over all present, future, and after-acquired property; $1,200,000.00 Collateral Mortgage registered Sept 15, 2023 (instrument PR4250736) over 1200 Aerowood Drive, Mississauga; Assignment of Rents registered Sept 15, 2023 (instrument PR4250737); Credit Facilities: CAMA $500,000 revolving demand facility, $400,000 non-revolving lease facility, $200,000 business credit cards; 100 $1,200,000 non-revolving term loan
- secured creditorsnote: Registered against real property; registration order not necessarily priority · page: 8 · as of: 2024-08-23 · amount: 3258.05 · debtor: 1000237264 Ontario Inc. (registered against Collateral Property, 1200 Aerowood Drive, Mississauga) · creditor: Peel Standard Condominium Corporation No. 1144 · currency: CAD · security: Condominium lien registered against title to the Collateral Property
- secured creditorsnote: PPSA Searches (Exhibit R) list three other secured creditors aside from RBC against CAMA; appear to hold security over specific assets (equipment-type PMSI class per affidavit description); names/amounts not itemized in reviewed pages · page: 17 · as of: 2025-02-19 · debtor: Canadian Association Medical Aesthetics Inc. · creditor: Other secured creditors (three, unnamed) per PPSA Searches · currency: CAD · security: PPSA registrations over specific assets of CAMA