Ontario · Receivership (court-appointed)
Book of Authorities of the Receiver dated December 4, 2025
Application / notice of application · 4 December 2025
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What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: From the report of the Receiver the Debtor's economic position was 'out of the money', so to speak, with the senior secured set to suffer a shortfall. · pct of: unstated · outcome: shortfall · class key: secured · stated by: court · class label: senior secured · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Further, applicant, King Capital Mortgage Investment Corporation (' King Capital ') is expected to suffer a shortfall in repayment of the amounts owed and that loss is growing each day. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: King Capital Mortgage Investment Corporation · creditor name: King Capital Mortgage Investment Corporation · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As noted above, King Capital is expected to suffer a significant shortfall in repayment on its Loan. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: King Capital Mortgage Investment Corporation · creditor name: King Capital Mortgage Investment Corporation · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As noted, it is expected there will be a significant shortfall in repayment to King Capital of the Loan. · pct of: unstated · outcome: shortfall · class key: secured · stated by: court · class label: King Capital · creditor name: King Capital · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Receiver seeks court approval to distribute $16 million to First Source following the completion of the Transaction. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · amount low: 16000000 · amount high: 16000000 · class label: First Source · claims amount: 17752258.56 · creditor name: First Source · interim final: interim · claims qualifier: unstated; basis: unstated · quote: The two secured creditors will suffer a shortfall of approximately $50,000,000. · pct of: unstated · outcome: shortfall · class key: secured · stated by: court · amount low: 50000000 · amount high: 50000000 · class label: the two secured creditors · interim final: unstated · claims qualifier: unstated · shortfall amount: 50000000 · table missing: