Ontario · Receivership (court-appointed)
Application Record of the Applicant dated November 4, 2025
Application / notice of application · 4 November 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 filing6 verified
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00753571-00CL
- proceeding typereceivership_court
- statutory basisSECTION 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
- commencement date10 October 2025
- secured creditorsnote: Indebtedness ($7,575,372.06) as of October 8, 2025 excludes professional fees, interest and costs accruing (O'Gorman Affidavit para 26, p.28; Notice of Application para 3(b), p.13). Earlier Notices of Intention to Enforce Security dated February 12, 2024 (s.244 BIA) stated total secured indebtedness of $6,526,870.52 as at February 9, 2024 under the General Security Agreement (p.100) and the Collateral Mortgage (p.103) - same aggregate figure for both instruments, i.e. RBC's total secured claim, not two separate debts. Stanislaw Snieg and Maria Snieg (director/officer and spouse, respectively, of Igloo) each personally guaranteed the Indebtedness up to $3,250,000.00 pursuant to guarantees and postponements of claim dated November 29, 2022 (p.83, p.87) - they are guarantors/related parties, not independent creditors. · page: 28 · as of: 2025-10-08 · amount: 7575372.06 · debtor: Igloo Industries Group Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated November 29, 2022 over all personal property of Igloo (inventory, equipment, machinery, fixtures, book debts, contractual rights, monies, chattel paper, intellectual property, goodwill); Collateral Mortgage of $1,000,000.00 (registered principal) against Real Property, PIN 58159-0254(LT), Instrument No. SC1386015; RBC listed as first mortgagee per Parcel Register as at November 4, 2025