Ontario · Receivership (court-appointed)
First Report of the Receiver dated November 11, 2024
Court officer report · 11 November 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing16 verified
- secured creditorsnote: Approximate figure per Receiver; detailed amounts owing set out in Affidavit of Daniel Pollack sworn February 12, 2024 (not repeated in this report). Principal secured creditor of the Debtors. · page: 6 · as of: date of the Receivership Order · amount: 328300000 · debtor: Churchill and Southdown · creditor: KingSett Mortgage Corporation · currency: CAD · security: loan facilities/mortgage security
- secured creditorsnote: Approximate figure per Receiver; detailed amounts owing set out in Affidavit of Daniel Pollack sworn February 12, 2024 (not repeated in this report). · page: 6 · as of: date of the Receivership Order · amount: 35300000 · debtor: Royal Windsor · creditor: KingSett Mortgage Corporation · currency: CAD · security: loan facilities/mortgage security
- secured creditorsnote: One of nine construction liens registered against Churchill Lands. · page: 6 · amount: 30076837 · debtor: Churchill · creditor: Kenaidan Contracting Ltd. · currency: CAD · security: registered construction lien
- secured creditorsnote: One of nine construction liens registered against Churchill Lands. · page: 6 · amount: 550503 · debtor: Churchill · creditor: Superior Sprinkler Co. Ltd. · currency: CAD · security: registered construction lien
- secured creditorsnote: One of nine construction liens registered against Churchill Lands. · page: 6 · amount: 2015660 · debtor: Churchill · creditor: JC Infrastructure Ltd. · currency: CAD · security: registered construction lien
- secured creditorsnote: One of two separately registered liens by this creditor against Churchill Lands. · page: 6 · amount: 117695 · debtor: Churchill · creditor: Noram Glass Corporation · currency: CAD · security: registered construction lien
- secured creditorsnote: One of nine construction liens registered against Churchill Lands. · page: 6 · amount: 289607 · debtor: Churchill · creditor: Black & McDonald Limited · currency: CAD · security: registered construction lien
- secured creditorsnote: One of nine construction liens registered against Churchill Lands. · page: 6 · amount: 145240 · debtor: Churchill · creditor: Nucor Steel ULC · currency: CAD · security: registered construction lien
- secured creditorsnote: One of nine construction liens registered against Churchill Lands. · page: 6 · amount: 637007 · debtor: Churchill · creditor: Montana Electrical Contractors Ltd. · currency: CAD · security: registered construction lien
- secured creditorsnote: Second, separately registered lien by this creditor against Churchill Lands. · page: 6 · amount: 389924 · debtor: Churchill · creditor: Noram Glass Corporation · currency: CAD · security: registered construction lien
- secured creditorsnote: Second, separately registered lien by this creditor against Churchill Lands. · page: 6 · amount: 1884704 · debtor: Churchill · creditor: Kenaidan Contracting Ltd. · currency: CAD · security: registered construction lien
- secured creditorsnote: Understood to relate to cash collateral for letters of credit issued to City of Mississauga on behalf of Churchill GP; blanket registrant, amount unstated. Security excluded from receivership Property. · page: 6 · debtor: Churchill GP · creditor: The Toronto-Dominion Bank · currency: CAD · security: PPSA registration against accounts of Churchill GP
- secured creditorsnote: One of two construction liens registered against Southdown Lands. · page: 6 · amount: 9572190 · debtor: Southdown · creditor: Kenaidan Contracting Ltd. · currency: CAD · security: registered construction lien
- secured creditorsnote: One of two construction liens registered against Southdown Lands. · page: 6 · amount: 3950495 · debtor: Southdown · creditor: Soilcan Inc. · currency: CAD · security: registered construction lien
- secured creditorsnote: Subordinate Security postponed and subordinated in favour of KingSett; amount is registered second mortgage amount, not necessarily outstanding balance. · page: 7 · amount: 20000000 · debtor: Southdown · creditor: 7037619 Canada Inc. (Subordinate Lender) · currency: CAD · security: second mortgage/charge ("Subordinate Security") registered against Southdown Lands
- unsecured creditorsnote: Aggregate approximate figure; document names no individual creditors. Primarily owing to municipalities, consultants, and professionals. · page: 7 · as of: date of the Receivership Order · basis: Based on the Debtors' books and records · amount: 4800000 · debtor: The Debtors · creditor: Unsecured creditors (aggregate as reported) · currency: CAD