Ontario · Receivership (court-appointed)
Motion Record of the Receiver returnable April 21, 2021
Application / notice of application · 21 April 2021
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What we verified from this filing17 verified
- applicantCENTURION MORTGAGE CAPITAL CORPORATION
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-20-00650557-00CL
- provinceONTARIO
- appointeeBDO Canada Limited
- appointee rolereceiver and manager
- secured creditorspage: 24 · debtor: Brightstar Newcastle Corporation · creditor: Veridian Connections Inc. · currency: CAD · security: Beneficiary of postponements DR1684772-DR1684777 dated 2018-02-27 (amount of underlying charge not stated on these pages)
- unsecured creditorsnote: Amount unstated; Wilkinson provided construction services and was owed amounts for which Brightstar agreed to grant credit toward Unit 101 purchase price; claim disputed by Brightstar's countersuit for negligence/breach of contract; Wilkinson permitted to continue pursuing monetary claims subject to stay · page: 30 · basis: Wilkinson Action seeking damages/specific performance, referenced in First Report · debtor: Brightstar Newcastle Corporation · creditor: Wilkinson Construction Services Inc. · currency: CAD
- secured creditorsnote: First Report states current balance owed 'is in excess of $750,000' (floor); principal sum advanced under Centurion Loan was $5,965,000; also holds Notice of Assignment of Rents (DR1474137); subject to Priority Dispute with GCNA re: proceeds of sale · page: 31 · amount: 750000 · debtor: Brightstar Newcastle Corporation · creditor: Centurion Mortgage Capital Corporation · currency: CAD · security: Charge DR1474136 registered in amount of $4,565,000.00 (registered principal, not balance)
- secured creditorspage: 32 · amount: 750000 · debtor: Brightstar Newcastle Corporation · creditor: Jason Boccinfuso and 1791029 Ontario Inc. · currency: CAD · security: Charge DR1399636 (as transferred by DR1423350)
- secured creditorsnote: Underwrote deposit insurance and excess deposit insurance on the Project; party to Priority Dispute with Centurion re: proceeds of sale from condominium units · page: 32 · debtor: Brightstar Newcastle Corporation · creditor: The Guarantee Company of North America · currency: CAD · security: Charge DR1493303 registered in amount of $4,100,000.00 (registered principal)
- secured creditorspage: 32 · amount: 250000 · debtor: Brightstar Newcastle Corporation · creditor: 2153491 Ontario Inc. · currency: CAD · security: Charge DR1225975 (as transferred by DR1234323)
- secured creditorspage: 32 · amount: 2500000 · debtor: Brightstar Newcastle Corporation · creditor: 1791029 Ontario Inc. · currency: CAD · security: Charge DR1667164
- secured creditorsnote: Municipal charge · page: 32 · amount: 596466 · debtor: Brightstar Newcastle Corporation · creditor: The Corporation of the Municipality of Clarington · currency: CAD · security: Charge DR1623323
- secured creditorsnote: Lien not discharged from title; Lien Action stayed under Receivership Order; Maple asserts its lien has priority over Centurion and GCNA mortgages as 'building mortgages' under Construction Act · page: 33 · as of: 2020-02-06 · amount: 50735.41 · debtor: Brightstar Newcastle Corporation · creditor: Maple Terrazzo Marble & Tile Partnership (o/a Stoneworx) · currency: CAD · security: Claim for Lien, instrument DR1870231, registered against Unit 101
- unsecured creditorsnote: Advance confirmed by Receiver as deposited into Brightstar's bank account; loan to fund construction, intended to be applied as credit to purchase price of Unit 417 on closing; Rasmussen disputes characterization and claims equitable ownership of Unit 417 · page: 39 · as of: 2018-06-01 · basis: Rasmussen Loan Agreement dated May 29, 2018, as reported in First Report · amount: 270320 · debtor: Brightstar Newcastle Corporation · creditor: Gerry Rasmussen · currency: CAD
- fee scheduleengagements: form: time_summary · rows: · money: tax: label: HST · quote: Total Taxes (HST) $1,752.68 · amount: 1752.68 · fees: quote: Total Hours and Amounts $13,447.00 · amount: 13447 · total: quote: TOTAL $15,266.72 · amount: 15266.72 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Costs $67.04 · amount: 67.04 · period: kind: unstated · approval: state: unstated · averages: rate: 595 · quote: Average Hourly Rate $595.00 · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · context quote: Lawyers for BDO Canada Limited, in its capacity as Court-Appointed Receiver