Ontario · Receivership (court-appointed)
Supplemental Application Record returnable September 8, 2022
Application / notice of application · 8 September 2022
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What we verified from this filing9 verified
- applicantFIRST SOURCE FINANCIAL MANAGEMENT INC.
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-22-00031131-0000
- provinceONTARIO
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43
- commencement date29 June 2022
- secured creditorsnote: First Source holds 'A' position; Anagnostakos described as an experienced businessperson in the recycling industry; amount of B-position debt not stated · page: 10 · debtor: 2674913 Ontario Ltd. · creditor: Louis Anagnostakos (and other 'B' position lenders) · currency: CAD · security: Subordinate ('B' position) charges registered against the Property; two subordinate charges have since been registered
- secured creditorsnote: Municipal water account arrears; failure to pay realty taxes/municipal charges is stated as an event of default under the Charge; municipal claim, not registered as a charge · page: 12 · as of: 2020-12-10 · amount: 24759.43 · debtor: 2674913 Ontario Ltd. · creditor: Town of Kingsville · currency: CAD
- secured creditorsnote: Loan facility was $3,500,000, fully advanced; mortgage registered amount of $4,200,000 is registration ceiling, not the balance; outstanding balance stated as $4,203,348.24 as of December 31, 2020 inclusive of interest, admin and legal fees; guarantees given by 2674915 Ontario Ltd., 2674916 Ontario Ltd., and Matthew David Posthumus (individual guarantor, officer/director of 913) · page: 12 · as of: 2020-12-31 · amount: 4203348.24 · debtor: 2674913 Ontario Ltd. · creditor: First Source Financial Management Inc. · currency: CAD · security: First mortgage/Charge registered April 4, 2019 against the Property in the amount of $4,200,000 (Instrument No. CE880452); also General Assignment of Rents (Instrument No. CE880453) and General Security Agreement over 913's and the Guarantors' personal property