Quebec · Receivership (court-appointed)
Motion to Appoint a Receiver
Application / notice of application · 6 November 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 filing7 verified · 1 withheld
- appointeeErnst & Young Inc.
- appointee rolereceiver
- courtSUPERIOR COURT
- court file no500-11-
- provinceQUEBEC
- statutory basissection 243 and seq. of the Bankruptcy and Insolvency Act
- secured creditorsnote: Aggregate indebtedness comprised of USD 5,185,214.86 (equal to CAD 7,207,708 as at Nov 4, 2024) plus CAD 7,396,661.26, per Bank's statement of account (Exhibit P-10); plus interest, fees, costs accruing. Guaranteed personally by Gary Richman, sole director/officer, up to $1,000,000 (personal guarantee, not a company). · page: 3 · as of: 2024-11-04 · amount: 14604369.26 · debtor: Fermetco Inc. · creditor: Royal Bank of Canada (successor by acquisition to HSBC Bank Canada) · currency: CAD · security: Movable hypothec charging universality of movable property (2021 Hypothec, registered principal $25,000,000; 2022 Hypothec, registered principal $50,000,000); Canadian and American General Security Agreements registered under Ontario/BC PPSA and U.S. UCC (Illinois, New York, Delaware)
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.