Ontario · Receivership (court-appointed)
Motion Record, returnable October 14, 2022
Application / notice of application · 14 October 2022
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What we verified from this filing3 verified
- secured creditorsnote: Aggregate of 30 construction liens filed by 26 lien claimants; ranks behind MZ's secured indebtedness; subject to Claims Process and Statutory Holdback determination. · page: 7 · as of: 2022-09-06 · amount: 8248567.13 · debtor: Applewood Marketplace Inc. · creditor: Construction Lien Claimants (Phase 1 Property) - 26 claimants, 30 liens · currency: CAD · security: Construction liens registered against the Phase 1 Property under the Construction Lien Act (Ontario)
- secured creditorsnote: Aggregate of 28 construction liens filed by 8 lien claimants; ranks behind MZ's secured indebtedness; subject to Claims Process and Statutory Holdback determination. · page: 7 · as of: 2022-09-06 · amount: 3168802.65 · debtor: Applewood Marketplace Inc. · creditor: Construction Lien Claimants (Phase 2 Property) - 8 claimants, 28 liens · currency: CAD · security: Construction liens registered against the Phase 2 Property under the Construction Lien Act (Ontario)
- secured creditorsnote: Indebtedness inclusive of principal and interest but exclusive of fees, costs and reserves; continues to increase due to accrual of per diem interest of approximately $39,775.75 and admin fees of $20,000/month; loans originally advanced to prior owner Sunningdale and assigned/assumed by Applewood. · page: 7 · as of: 2022-09-15 · amount: 60072600.47 · debtor: Applewood Marketplace Inc. · creditor: MarshallZehr Group Inc. (MZ) · currency: CAD · security: Credit Facilities secured against the Property (Phase 1 and Phase 2)