Ontario · Court officer
Motion Record of the Plaintiff dated June 9, 2025
Application / notice of application · 9 June 2025
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What we verified from this filing10 verified
- applicantRoyal Bank of Canada
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00002689-0000
- appointeeMSI Spergel Inc.
- appointee roleProposed Receiver
- secured creditorsnote: Comprises Revolving Demand Facility ($339,268.07) and Credit Card Facility ($25,248.66) as at April 23, 2025; a Revolving Lease Line of Credit facility limit of $400,000 is also referenced but no drawn balance is disclosed. Guaranteed by sole director Gurtinder Singh Shanker (Guarantee and Postponement of Claim dated February 2, 2024, limited to $425,000) - personal guarantor, related party. · page: 12 · as of: 2025-04-23 · amount: 364516.73 · debtor: 2524514 Ontario Inc. ("252") · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated December 28, 2022; PPSA financing statements registered against 252
- secured creditorsnote: Employee Source Deduction remittance arrears; deemed trust class. Specific 'as of' date not separately stated; appears in same paragraph as the HST arrears figure dated May 9, 2025. · page: 54 · amount: 37540.95 · debtor: 2758081 Ontario Inc. ("275") · creditor: Canada Revenue Agency · currency: CAD · security: Deemed trust claim (payroll source deductions)
- secured creditorsnote: HST remittance arrears; deemed trust class. An earlier CRA Court Order/Demand dated March 25, 2025 referenced a slightly different amount ($1,856,584.08) for the same HST account (731990735RT0001) in the Bank's non-tolerance letter. · page: 54 · as of: 2025-05-09 · amount: 1859945.8 · debtor: 2758081 Ontario Inc. ("275") · creditor: Canada Revenue Agency · currency: CAD · security: Deemed trust claim (HST/GST); CRA issued a Requirement to Pay to the Bank dated March 18, 2025 in the same amount (Exhibit N)
- unsecured creditorsnote: Corporate tax remittance arrears; not stated as a deemed-trust class claim (distinguished from the HST/source-deduction deemed trust claims against 275). An earlier CRA Court Order/Demand dated March 25, 2025 references the same figure for account 762968527RC0001. · page: 59 · as of: 2025-03-18 · basis: Requirement to Pay issued by CRA to the Bank, dated March 18, 2025 (Exhibit N), and confirmed in the Bank's affidavit as arrears as at March 18, 2025 · amount: 157215.82 · debtor: 2524514 Ontario Inc. ("252") · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Total indebtedness comprised of Revolving Demand Facility ($607,152.64), Credit Card Facility ($56,673.72), Conditional Sales Contract ($42,922.00), three lease schedules ($35,005.20 + $6,335.46 + $6,734.67), and Overdraft ($326.63/$327.63 - figure varies slightly between demand letter and affidavit), all as at April 23, 2025, per demand letter dated April 24, 2025. Guaranteed by directors Jasvir Singh and Gurtinder Singh Shanker (Guarantee and Postponement of Claim dated April 26, 2024, limited to $600,000) - personal guarantors, related parties as directors. · page: 296 · as of: 2025-04-23 · amount: 755150.32 · debtor: 2758081 Ontario Inc. ("275") · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated August 15, 2022 (first-ranking security interest in all present and after-acquired personal property, incl. inventory, equipment, accounts, intangibles); Royal Bank of Canada Conditional Sales Contract dated October 13, 2022 (2022 Mercedes Benz Sprinter van); Master Lease Agreement dated April 3, 2023 and leasing schedules 201000073323, 201000074083, 201000074595 (trailers); PPSA financing statements registered against 275