Ontario · Receivership (court-appointed)
Application Record dated October 17, 2024 - Part 2
Application / notice of application · 17 October 2024
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 filing3 verified
- secured creditorsnote: Leases carry nominal ($1.00) purchase options, functioning as security interests; no aggregate outstanding balance is stated anywhere in the record for these leases. · page: 1 · as of: Lease commencement dates 2023-06-22 and 2023-06-27 · debtor: 1175648 Ontario Limited · creditor: Royal Bank of Canada · currency: CAD · security: Equipment leases under Master Leasing Agreement dated 2022-12-12: (i) 7 x 2023 Van Guard Trailers, net equipment cost $462,000.00, total monthly rental (incl. taxes and admin fee) $11,257.24 first payment / $10,353.24 recurring, 60-month term to 2028-06-22, $1.00 purchase option; (ii) 1 x 2017 HINO truck chassis & 24' body/tailgate, net equipment cost $109,655.00, total monthly rental (incl. taxes and admin fee) $4,742.42 first payment / $3,838.42 recurring, 36-month term to 2026-06-27, $1.00 purchase option; (iii) PPSA registration (File 795412251) over 2 x 2023 Mercedes-Benz Sprinter 2500 cargo vans (Lease Contract #201000075438), no dollar amount stated in the PPSA record.
- secured creditorsnote: Aggregated as serialized-equipment PMSI financiers (multiple registrations against individually serial-numbered vehicles). No aggregate total is stated in the record, so a combined figure is not reported; the amounts listed are the registered secured amounts per PPSA financing statement, not confirmed current balances. · page: 46 · as of: PPSA file currency 2024-09-15 (registrations dated 2023-08 to 2024-08) · debtor: 1175648 Ontario Limited · creditor: Mercedes-Benz Financial Services Canada Corporation (also registered as "Mercedes-Benz Financial") · currency: CAD · security: PMSI over individually serialized 2024 Mercedes-Benz vehicles under 10 separate PPSA financing statements. Registered amounts per vehicle: $97,133.79 (File 508197294, VIN ...RP674762, matures 2029-08-02); $97,299.90 (File 508204251, VIN ...RP648907, matures 2029-08-02); $96,626.98 (File 501300144, VIN ...RP623378, matures 2028-12-07); $96,109.44 (File 501114681, VIN ...RP640854, matures 2028-12-07); $96,109.44 (File 501114897, VIN ...RP631463, matures 2028-12-07); $96,626.98 (File 501115671, VIN ...RP623994, matures 2028-12-07); $96,520.76 (File 500175702, VIN ...RP623995, matures 2028-11-07); $96,520.13 (File 798493923, VIN ...RP620872, matures 2028-10-27); $96,626.35 (File 798494427, VIN ...RP621458, matures 2028-10-27); $96,626.35 (File 798500511, VIN ...RP623377, matures 2028-10-27).
- secured creditorsnote: Registration DISCHARGED per Form 2C Financing Change Statement registered 2024-08-09 (see page 84) — not a current secured claim. · page: 81 · debtor: 1175648 Ontario Limited · creditor: VFS Canada Inc. · currency: CAD · security: PMSI over one 2024 Volvo VNL64T-760 truck (File 500018571), general collateral including proceeds/insurance proceeds