Ontario · Receivership (court-appointed)
Notice of Application of re Motion returnable April 17, 2025
Application / notice of application · 10 March 2025
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 filing13 verified
- secured creditorsnote: Amount stated is registered principal, not a confirmed outstanding balance · page: 5 · debtor: 2616766 Ontario Limited · creditor: Fulger Transport Inc. · currency: CAD · security: Mortgage registered against Real Property, principal amount $6,599,000; ranks behind CII's Security
- secured creditorsnote: Security originally granted to Lou Cerruti and assigned to CII; also backed by guarantee dated Mar 8, 2021 from the 766 Shareholders (individual guarantors: Hira Dhillon, Vipen Chauser, Mahan Dhillon); mortgage matured Dec 31, 2023 and is in default; NOI/demand notice issued Feb 26, 2025 · page: 5 · as of: 2025-02-19 · amount: 19625503.2 · debtor: 2616766 Ontario Limited · creditor: Cerruti Investments Inc. (CII, assignee of Lou Cerruti) · currency: CAD · security: Mortgage dated Feb 27, 2021 (amended June 24, 2021, Apr 13, 2023, May 5, 2023); General Assignment of Rents dated Mar 8, 2021; General Security Agreement dated Mar 8, 2021 over all present/future real and personal property - securing amounts under Property Acquisition and Loan Agreement (PALA)
- secured creditorsnote: Amounts stated are registered principal, not confirmed outstanding balances; two mortgages not summed per document; 161 as first and second mortgagee is supportive of receivership relief · page: 5 · debtor: 2616766 Ontario Limited · creditor: 2763161 Ontario Limited (161) · currency: CAD · security: First mortgage registered against Real Property, principal amount $13,000,000; second mortgage registered against Real Property, principal amount $4,000,000 (both rank ahead of CII's Security)
- secured creditorspage: 6 · as of: 2024-01-03 · amount: 269221 · debtor: 2616766 Ontario Limited · creditor: Wallace-Kent Sprinkler Systems Inc. · currency: CAD · security: Construction lien registered against Real Property under the Construction Act (Ontario)
- secured creditorspage: 6 · as of: 2024-07-04 · amount: 1671477 · debtor: 2616766 Ontario Limited · creditor: Industrial Floor Systems Corp. · currency: CAD · security: Construction lien registered against Real Property under the Construction Act (Ontario)
- secured creditorspage: 6 · as of: 2024-11-07 · amount: 540987 · debtor: 2616766 Ontario Limited · creditor: Ultimate Fire Protection Limited · currency: CAD · security: Construction lien registered against Real Property under the Construction Act (Ontario)
- secured creditorspage: 6 · as of: 2024-11-29 · amount: 3694100 · debtor: 2616766 Ontario Limited · creditor: Boulder Group Inc. · currency: CAD · security: Construction lien registered against Real Property under the Construction Act (Ontario)
- secured creditorspage: 6 · as of: 2024-12-12 · amount: 2013933 · debtor: 2616766 Ontario Limited · creditor: Windsor Power & Light Ltd. · currency: CAD · security: Construction lien registered against Real Property under the Construction Act (Ontario)
- secured creditorspage: 6 · as of: 2024-12-16 · amount: 378688 · debtor: 2616766 Ontario Limited · creditor: Classic Fire & Life Safety Inc. · currency: CAD · security: Construction lien registered against Real Property under the Construction Act (Ontario)
- secured creditorspage: 6 · as of: 2024-09-13 · amount: 1787933 · debtor: 2616766 Ontario Limited · creditor: 1627149 Ontario Limited · currency: CAD · security: Construction lien registered against Real Property under the Construction Act (Ontario)
- secured creditorsnote: Amount stated is registered principal, not a confirmed outstanding balance · page: 6 · debtor: 2616766 Ontario Limited · creditor: Tatro Horizons Ltd. · currency: CAD · security: Mortgage registered against Real Property, principal amount $450,000; ranks behind CII's Security
- secured creditorspage: 6 · as of: 2023-12-28 · amount: 301795 · debtor: 2616766 Ontario Limited · creditor: Nobel Corporation · currency: CAD · security: Construction lien registered against Real Property under the Construction Act (Ontario)
- counselMcMILLAN LLP