Ontario · Court officer
Motion Record of Sales Officer returnable August 1, 2023
Application / notice of application · 1 August 2023
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What we verified from this filing10 verified
- applicantMONICA MARY CAVERSON
- appointeeROSEN GOLDBERG INC.
- appointee roleCourt-appointed sales officer
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-21-00670947-00CL
- proceeding typecourt_officer
- secured creditorsnote: Approved loan amount per commitment letter dated May 25, 2022; described as 'first mortgage of $3.5 million' as of report date. Purchaser under APS is an affiliate of Romspen (related party). Interest accruing at 12% per annum, compounded monthly, unpaid since interest reserve exhausted. · page: 8 · amount: 3500000 · debtor: Monica Mary Caverson and Stephen Michael Moranis · creditor: Romspen Investment Corporation · currency: CAD · security: First mortgage over interests in the Tiny Properties (82/86/88 East Beach Road, Tiny, ON) and second mortgage over Caverson's residence at 58 South Drive, Toronto (Rosedale Property), behind Home Trust's first mortgage
- secured creditorsnote: Sales Officer not appointed over the Rosedale Property; mortgage recited as context for priority stack. · page: 15 · amount: 1240000 · debtor: Monica Mary Caverson · creditor: Home Trust · currency: CAD · security: First mortgage on the Rosedale Property (58 South Drive, Toronto)
- unsecured creditorsnote: Proposal premised on Moranis paying Pollard & Associates Inc. $833,900 for distribution to unsecured creditors pro rata; document names no individual unsecured creditors. Proposal unanimously accepted by creditors June 3, 2022; final payment confirmed received June 23, 2023. · page: 15 · as of: Proposal filed May 10, 2022 · basis: Proposal filed under the BIA, as described in First Report · amount: 833900 · debtor: Stephen Michael Moranis · creditor: Unsecured creditors of Stephen Michael Moranis (aggregate as reported) · currency: CAD
- secured creditorsnote: Principal amount of second mortgage; original indebtedness to Alleghe was $2.7M, of which $2.6M was repaid from Romspen advance, leaving balance secured by this second mortgage. Notice of Motion (Appendix O terms) cites amount as $176,128 in one instance - see note on discrepancy between $172,218 (First Report body) and $176,128 (APS terms recited in Notice of Motion). · page: 17 · amount: 172218 · debtor: Monica Mary Caverson and Stephen Michael Moranis · creditor: Alleghe Mortgage Fund Ltd. · currency: CAD · security: Second mortgage over interests in the Tiny Properties, behind Romspen's first mortgage of $3.5M; also third mortgage in same principal amount registered against the Rosedale Property behind Home Trust and Romspen