Ontario · Receivership (court-appointed)
First Report of the Receiver dated September 29, 2025
Court officer report · 29 September 2025
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What we verified from this filing7 verified
- secured creditorsnote: Serialized-equipment financiers; no specific outstanding balances stated in the filing. · page: 6 · debtor: Sigma Molders 2020 Inc. · creditor: PPSA equipment financiers (PMSI class) - Wells Fargo Equipment Finance Company; De Lage Landen Financial Services Canada Inc. · currency: CAD · security: Wells Fargo Equipment Finance Company - PPSA registration January 6, 2021, security interest in equipment and other (File No. 769036104); De Lage Landen Financial Services Canada Inc. - PPSA registration May 2, 2023, security interest in equipment, accounts, other and motor vehicle (File No. 7902906381)
- secured creditorsnote: Amount is the price reflected in Concentra's Buyout Statement for the Toshiba Machine, approximately $118,000 excluding sales tax. Concentra's leasing/financing portfolio was assigned to Bennington Financial Corp. following Equitable Bank's acquisition of Concentra. Receiver's counsel (Aird & Berlis LLP) has confirmed Concentra (now Bennington) holds a properly perfected PMSI. · page: 6 · as of: Buyout Statement · amount: 118000 · debtor: Sigma Molders 2020 Inc. · creditor: Concentra Equipment Finance (now Bennington Financial Corp., subsidiary of Equitable Bank) · currency: CAD · security: Equipment lease and purchase-money security interest (PMSI) in the Toshiba-branded electric injection moulding machine; PPSA registration January 21, 2022, security interest in equipment (File No. 779826384)
- secured creditorsnote: Deemed-trust class claim potential; CRA commenced a trust examination of the Company's payroll and sales tax accounts following the Filing Date. As of the date of the First Report, CRA had not issued a notice of assessment, claim or other communication indicating any balance owing; amount presently unquantified/cannot be stated. · page: 6 · debtor: Sigma Molders 2020 Inc. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Related entity to the Company; postponed/subordinated its security in favour of TD pursuant to a Subordination Agreement dated September 28, 2020, acknowledging TD's security ranks in priority. Related party. · page: 33 · debtor: Sigma Molders 2020 Inc. · creditor: Sigma Moulders · currency: CAD · security: Financing Statement registered September 2, 2020, security interest in inventory, equipment, accounts, other and motor vehicle (File No. 765390204)
- secured creditorsnote: Exact balance per statement of indebtedness current as at August 6, 2025 (Exhibit I to Couderc Affidavit); a rounder prose approximation of 'approximately $500,000' as at the August 15, 2025 Filing Date is also used elsewhere in the First Report. Also secured by an unlimited personal guarantee of director Anil Anand (individual, guarantor). Company also postponed/subordinated related-party creditor Sigma Moulders' security in TD's favour (see separate entry). NOI to Enforce Security served and formal demand made May 29, 2025 (expired demands). · page: 36 · as of: 2025-08-06 · amount: 507224.45 · debtor: Sigma Molders 2020 Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated September 29, 2020 over all present and after-acquired personal property (inventory, equipment, accounts, other, motor vehicles), perfected by PPSA registrations September 24, 2020 and March 22, 2022; Demand Operating Facility Agreement dated September 23, 2020 with a $500,000 CAD credit limit, increased to $800,000 CAD by amendment dated February 17, 2022 (facility limit, not a balance)
- closing confirmedscope: substantially all of the Company's machinery and equipment assets (excluding the Toshiba Machine) · outcome: completed · purchaser: 2186274 Ontario Ltd. o/a Easy Trading Enterprises · date basis: unstated
- purchaser2186274 Ontario Ltd. o/a Easy Trading Enterprises; 2186274 Ontario Ltd. o/a Easy Trading Enterprises