Ontario · Receivership (court-appointed)
Application Record – dated July 31, 2017
Application / notice of application · 31 July 2017
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What we verified from this filing10 verified
- applicantECC EDUCATION CONSOLIDATION CORPORATION
- commencement date31 July 2017
- courtSUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file noCV-17-579922-00CL
- statutory basisSection 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- unsecured creditorsnote: Related party: ECC is the 100% owner of WCI; advances made on an unsecured basis; in Dec 2015 ECC also subscribed for WCI preferred shares, proceeds used to pay down an additional $8.5 million in debt owed to ECC · page: 75 · as of: 2017-06-30 · basis: Stated in Koehn Affidavit and Notice of Application · amount: 2789569 · debtor: WCI Westervelt College Inc. · creditor: ECC Education Consolidation Corporation · currency: CAD
- secured creditorsnote: Obligations guaranteed currently total approximately this amount; RBC has consented to the Transaction and Approval and Vesting Order · page: 76 · amount: 4058316 · debtor: WCI Westervelt College Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General security interest (PPSA registration) securing WCI's guarantee of an ECC credit facility (the 'RBC Guarantee')
- secured creditorsnote: Obligations guaranteed currently total approximately this amount; First West has consented to the Transaction and Approval and Vesting Order · page: 76 · amount: 1250000 · debtor: WCI Westervelt College Inc. · creditor: FWCU Capital Corp. (First West) · currency: CAD · security: General security interest (PPSA registration) securing WCI's guarantee of a second ECC credit facility (the 'First West Guarantee')
- unsecured creditorsnote: Document names no individual trade creditors · page: 77 · as of: 2017-07-19 · basis: Stated in Koehn Affidavit · amount: 33676 · debtor: WCI Westervelt College Inc. · creditor: Unsecured trade creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: For deferred rent increases and costs of repairs · page: 77 · as of: 2017-07-19 · basis: Stated in Koehn Affidavit · amount: 101048 · debtor: WCI Westervelt College Inc. · creditor: Landlord of London Premises (1060 Wellington Road, London, Ontario) · currency: CAD