Ontario · Receivership (court-appointed)
Application Record dated July 14, 2025
Application / notice of application · 14 July 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 filing7 verified · 1 withheld
- applicantLAURENTIAN BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-25-00747532-00CL
- 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. C.43, as amended
- secured creditorsnote: Loan Facilities matured Aug 1, 2024 and were not repaid. Demand letter and BIA Notice of Intention to Enforce Security issued June 6, 2025. As of July 15, 2025 (per Affidavit of Kevin Gongora), amount outstanding stated as being 'in excess of $16 million, plus accruing interest and costs' (a later, rounded/floor figure superseding the June 5, 2025 amount). Personal guarantees given by guarantors Abbas Aameri, Ahmadreza Rouhani, Parisima Fotouhi and Hadi Makaremi (individuals) pursuant to Guarantee and Postponement of Claim dated April 28, 2020. Related-party postponements of claims dated April 28, 2021 by Mehdi Rahimian, Sahar Ameri and Bahar Aameri (shareholders/directors) subordinating their debts owed by Teksun Inc., 2717852 Ontario Corp. and 2717740 Ontario Ltd., respectively, in favour of the Bank. A Forbearance Agreement was negotiated but never took effect (not executed by one guarantor/president and forbearance fee unpaid). · page: 9 · as of: 2025-06-05 · amount: 15950498.58 · debtor: 9089802 Canada Corp. (registered owner/bare trustee) and Beneficial Owners (Sepitman Canada Corp., 8637989 Canada Corp., 2404685 Ontario Inc., Luloo Homes Inc., Teksun Inc., 2717852 Ontario Corp., 2717740 Ontario Ltd.) · creditor: Laurentian Bank of Canada · currency: CAD · security: LBC Mortgage (Charge/Mortgage of Land) registered April 28, 2021 as Instrument No. YR3241772, principal amount $25,400,000 (registered principal, not balance), amended by Notice of Charge Amending Agreement dated Dec 20, 2022, registered Dec 21, 2022 as Instrument No. YR3510441; Assignment of Rents dated April 28, 2021 (Instrument No. YR3241773); General Security Agreement dated April 28, 2021 (granted by Debtor, 863, Sepitman, 240 and Luloo); Specific Security Agreement dated April 28, 2021 (granted by all Borrowers); Term Facility (maximum $13,863,000) and Letter of Credit/Letter of Guarantee Facility (maximum $3,900,000) per Commitment Letter dated March 10, 2021, as amended (facility limits, not balances).
- secured creditorsnote: Application states that PPSA (Ontario) searches reveal numerous financing statements registered by other creditors against each of the Borrowers; the document does not identify the specific creditors, amounts, or collateral. · page: 10 · debtor: 9089802 Canada Corp. and Beneficial Owners (Sepitman Canada Corp., 8637989 Canada Corp., 2404685 Ontario Inc., Luloo Homes Inc., Teksun Inc., 2717852 Ontario Corp., 2717740 Ontario Ltd.) · creditor: Various unnamed creditors (PPSA financing statements) · currency: CAD
- secured creditorsnote: Disclosed in parcel registers for the Property as of June 5, 2025. · page: 10 · as of: 2023-08-17 · amount: 498435 · debtor: 9089802 Canada Corp. · creditor: Great North Drain Ltd. · currency: CAD · security: Construction lien registered against title to the Property
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.