Ontario · Receivership (court-appointed)
Motion Record dated May 5, 2023
Application / notice of application · 5 May 2023
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What we verified from this filing7 verified
- secured creditorsnote: Amount not stated in the document; ranks behind the first and second mortgages. · page: 7 · debtor: 2618909 Ontario Limited (909) · creditor: 2767888 Ontario Inc. · currency: CAD · security: Third mortgage registered against title to the Real Property at 59 Roy Blvd., Brantford, Ontario
- secured creditorsnote: Individual creditor; amount not stated. Possible related party (shares surname with Respondent Chantal Bock). · page: 18 · debtor: The Hypoint Company Limited · creditor: Thomas Bock · currency: CAD · security: PPSA registration against the remaining chattels used in the cannabis business
- secured creditorsnote: First Report states: 'There is presently a significant amount owing on account of realty taxes which the Receiver is unable to pay, and which amount will continue to accrue until such time as the Real Property is sold.' No dollar figure or date is given for the arrears amount. · page: 29 · debtor: 2618909 Ontario Limited (909) · creditor: City of Brantford (realty taxes) · currency: CAD · security: Municipal realty tax arrears on the Real Property (statutory priority claim; specific amount not quantified in this document)
- secured creditorsnote: Endorsement states 'the equipment loan was in the approximate amount of $780,000' (approximate figure). 2618909 Ontario Limited guaranteed this debt to CEFL (related-party corporate guarantee); no judgment on the guarantee was sought in this motion. · page: 35 · as of: Endorsement of Justice Osborne dated October 28, 2022 · amount: 780000 · debtor: The Hypoint Company Limited · creditor: Canadian Equipment Financing and Leasing Inc. (CEFL) · currency: CAD · security: First-ranking PPSA security interest in HVAC Equipment (fixtures) pursuant to a loan and security agreement dated June 1, 2020
- secured creditorsnote: Endorsement states 'the mortgages were in the approximate amount of $5.3 million' — an approximate, aggregated figure combining the first and second mortgages with no individual breakdown given; excludes the separate third mortgage held by 2767888 Ontario Inc. · page: 35 · as of: Endorsement of Justice Osborne dated October 28, 2022 · amount: 5300000 · debtor: 2618909 Ontario Limited (909) · creditor: Bruce Lubelsky (first mortgagee) and Delrin Investments Inc., Samuel Stern, Harvey Kessler, Richard Goldberg (second mortgagees) — collectively 'the Mortgagees' · currency: CAD · security: First and second mortgages registered against title to the Real Property at 59 Roy Blvd., Brantford, Ontario
- secured creditorsnote: Counsel's time dockets record a claim by Add Capital Inc. regarding a forklift on site, and the Receiver's 'review and execution of release of forklift to ADD Capital pursuant to its valid PPSA security' — the collateral was released/returned; no monetary balance stated and the security appears discharged/resolved prior to this filing. · page: 128 · debtor: 2618909 Ontario Limited / The Hypoint Company Limited · creditor: ADD Capital Inc. · currency: CAD · security: PPSA security interest in a forklift (leased equipment) on the Real Property
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 427.74 · quote: This represents a total of 214.85 hours at an average rate of $427.74 per hour before HST. · currency: · invoices: · firm text: msi Spergel · firm quote: Lawyers for the Receiver, msi Spergel, in its capacity as the court appointed Receiver of The Hypoint Company · hours total: quote: This represents a total of 214.85 hours at an average rate of $427.74 per hour before HST. · value: 214.85 · context quote: in its capacity as the court appointed Receiver of The Hypoint Company; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 448.17 · quote: The professional fees represent a total of 55.80 hours at an average rate of $448.17 per hour (excluding HST). · currency: · invoices: · hours total: quote: The professional fees represent a total of 55.80 hours at an average rate of $448.17 per hour (excluding HST). · value: 55.8 · firm unverified: true · context unverified: true; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 420.57 · quote: The professional fees represent a total of 159.05 hours at an average rate of $420.57 per hour (excluding HST). · currency: · invoices: · hours total: quote: The professional fees represent a total of 159.05 hours at an average rate of $420.57 per hour (excluding HST). · value: 159.05 · firm unverified: true · context unverified: true; form: time_summary · rows: · money: tax: label: HST (13%) · quote: HST (13%) $2,428.01 · amount: 2428.01 · fees: quote: Professional fees $15,129 · amount: 15129 · total: quote: TOTAL PROFESSIONAL FEES $21,105.05 · amount: 21105.05 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Disbursements $3,548.04 · amount: 3548.04 · period: end: 2023-03-31 · kind: invoice · quote: 2022 - March 31 , 2023 · start: 2022-01-01 · approval: state: unstated · averages: rate: 517.5 · quote: Average Hourly Rate $517.50 · currency: · invoices: · firm text: Reconstruct LLP · firm quote: RECONSTRUCT LLP · context unverified: true