Ontario · Receivership (court-appointed)
Application Record of the Applicant The Toronto-Dominion Bank dated November 15, 2024.
Application / notice of application · 15 November 2024
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What we verified from this filing7 verified
- applicantTHE TORONTO-DOMINION BANK
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-24-00730132-00CL
- provinceONTARIO
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- commencement date25 October 2024
- secured creditorsnote: Demand Letter dated August 14, 2024 stated $7,601,255.35 owing as at August 13, 2024 (principal $7,582,571.91 + interest $18,683.44), exclusive of legal fees, disbursements and accruing interest. Forbearance Agreement dated October 3, 2024 updates the Indebtedness to $7,161,247.85 as at September 25, 2024 (Demand Operating Facility $7,160,247.85 + $1,000.00 Discharge Fee), exclusive of subsequent interest and fees; Borrower acknowledges Security has not been discharged and Demand has not been withdrawn. Also a $50,000 Forbearance Fee (fully earned upon execution October 3, 2024) is added to and secured as part of the Indebtedness. · page: 178 · as of: 2024-09-25 · amount: 7161247.85 · debtor: IDC Technologies (Canada) Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General security agreement dated April 27, 2018, registered under the Personal Property Security Act (Ontario); grants TD Bank a security interest in all of the Debtor's present and after-acquired personal property. TD Bank is stated to be the only registered general secured creditor under the PPSA against the Debtor.