Ontario · Receivership (court-appointed)
Motion Record for Receiver's Charge dated August 31, 2026
Application / notice of application · 31 August 2026
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 filing12 verified
- applicantSTEPHEN GILBERTSON and UNITED STATES AIR COMPRESSOR INCORPORATED
- courtSUPERIOR COURT OF JUSTICE
- court file noCL-25-00753596-0000
- provinceONTARIO
- statutory basisSECTION 241 of the CANADA BUSINESS CORPORATIONS ACT, R.S.C. 1985, c. C-44, as amended, and SECTION 101 of the COURTS OF JUSTICE ACT, R.S.O. 1990, c. C.43, as amended
- appointeeTDB RESTRUCTURING LIMITED
- appointee roleReceiver
- secured creditorsnote: Listed as 'Secured Creditor' in service list and disclosed by PPSA registry search dated July 13, 2026 as having filed a registration against the Canadian Entity. No balance stated in these pages. · page: 3 · debtor: US Air Compressor (Canada) Inc. · creditor: The Bank of Nova Scotia · currency: CAD · security: PPSA registration against the Canadian Entity (blanket registrant); nature/amount of security not stated in these pages
- secured creditorsnote: Related party: director/shareholder of the Canadian Entity. PPSA registrant per July 13, 2026 registry search. No balance stated. · page: 17 · debtor: US Air Compressor (Canada) Inc. · creditor: Bora Kuzucan · currency: CAD · security: PPSA registration against the Canadian Entity; nature of security not detailed in these pages
- secured creditorsnote: Also a further USD $13,758.52 due (USD Credit Card Facility) as of same date, per demand letter/NOI. Breakdown: Operating Facility CAD $28,154.95, Auto Loan CAD $22,270.61, CAD Credit Card Facility CAD $83,382.32, USD Credit Card Facility USD $13,758.52. Personal guarantee from director Mehmet Bora Kuzucan exists (related party/individual, guarantee capped at $600,800). RBC also listed as Secured Creditor in service list. · page: 154 · as of: 2026-04-13 · amount: 133807.88 · debtor: US Air Compressor (Canada) Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement dated August 20, 2024 (all property, assets, undertakings); Conditional Sales Contract dated February 14, 2023; also secured by written guarantee and postponement of claim dated June 26, 2025 from Mehmet Bora Kuzucan limited to principal sum of $600,800
- secured creditorsnote: Component of RBC total indebtedness; reported separately due to currency (see CAD entry for full breakdown). · page: 154 · as of: 2026-04-13 · amount: 13758.52 · debtor: US Air Compressor (Canada) Inc. · creditor: Royal Bank of Canada (USD Credit Card Facility) · currency: USD · security: General security agreement dated August 20, 2024
- secured creditorsnote: Factoring/merchant cash advance arrangement characterized by the purchaser as a sale of receivables, not a loan. Amount Sold ($149,050) is not a balance outstanding as of a stated date; no dated payoff balance in the record. Listed as 'Secured Creditor' in service list. Related-party guarantor: director Mehmet Bora Kuzucan personally guaranteed obligations. · page: 172 · debtor: US Air Compressor (Canada) Inc. · creditor: CCP Advance Inc., dba Canacap · currency: CAD · security: Purchase and Sale of Future Receivables agreement dated November 3, 2026 (Amount Sold $149,050; Purchase Price $110,000); PPSA security interest in all accounts, chattel paper, equipment, general intangibles, instruments, and inventory; personal guarantee from Mehmet Bora Kuzucan; PPSA registration against Canadian Entity