Ontario · Receivership (court-appointed)
Motion Record of the Receiver dated September 29, 2025
Application / notice of application · 29 September 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 filing5 verified
- secured creditorsnote: Related entity to the debtor (connected to director Anil Anand); postponed/subordinated its security in favour of TD pursuant to Subordination Agreement dated September 28, 2020 and a related PPSA amendment; also subject to a Postponement and Assignment of Creditor's Claim Agreement by Anand postponing repayment of this indebtedness · page: 22 · debtor: Sigma Molders 2020 Inc. · creditor: Sigma Moulders · currency: CAD · security: PPSA financing statement registered September 2, 2020 (File No. 765390204), security interest in inventory, equipment, accounts, other and motor vehicle
- secured creditorspage: 22 · debtor: Sigma Molders 2020 Inc. · creditor: Wells Fargo Equipment Finance Company · currency: CAD · security: PPSA financing statement registered January 6, 2021 (File No. 769036104), security interest in equipment and other
- secured creditorsnote: Buyout Statement reflects price of approximately $118,000, excluding sales tax; Receiver's counsel confirmed Concentra (now Bennington) holds a properly perfected purchase-money security interest in the Toshiba Machine; Concentra's leasing/financing portfolio was assigned to Bennington following Equitable Bank's acquisition of Concentra · page: 23 · as of: Buyout Statement · amount: 118000 · debtor: Sigma Molders 2020 Inc. · creditor: Concentra Equipment Finance (now Bennington Financial Corp., a subsidiary of Equitable Bank) · currency: CAD · security: PPSA financing statement registered January 21, 2022 (File No. 779826384), security interest in equipment; equipment lease with the Company in respect of a Toshiba-branded electric injection moulding machine
- secured creditorspage: 23 · debtor: Sigma Molders 2020 Inc. · creditor: De Lage Landen Financial Services Canada Inc. · currency: CAD · security: PPSA financing statement registered May 2, 2023 (File No. 7902906381), security interest in equipment, accounts, other and motor vehicle
- secured creditorsnote: Exact statement of indebtedness as at Aug 6, 2025 per Exhibit I to Couderc Affidavit; prose approximation of 'approximately $500,000, plus interest and costs' used elsewhere in the Notice of Motion and First Report (pp. 3, 5, 22); interest continues to accrue; formal demand and NOI to enforce security served May 29, 2025 under BIA s.244; related-party creditor Sigma Moulders and director Anil Anand each postponed/subordinated their claims/security to TD · page: 52 · as of: 2025-08-06 · amount: 507224.45 · debtor: Sigma Molders 2020 Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: Demand Operating Facility Agreement dated September 23, 2020 (credit limit $500,000 CAD, amended February 17, 2022 to $800,000 CAD facility limit, not a balance); General Security Agreement dated September 29, 2020 over all assets located at 2335 Council Road, Mississauga and 150 McLevin Avenue, Scarborough; also backed by an unlimited personal guarantee from the company's director/officer