Ontario · Receivership (court-appointed)
Application Record of the Applicant dated July 18, 2025
Application / notice of application · 18 July 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing9 verified · 1 withheld
- applicantROYAL BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-25-00747526-00CL
- proceeding typereceivership_court
- 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
- 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
- secured creditorsnote: Part of 'Demanded Indebtedness' set out in Demand Letters dated May 28, 2025 (USD portion); plus costs, expenses and accruing interest. Obligations also guaranteed by Drazen Bratic (director/officer, related party) under a limited guarantee of $2,600,000 dated October 27, 2021 (guarantee limit, not a balance). · page: 9 · as of: 2025-05-28 · amount: 303533.13 · debtor: Pentagon Logistics Inc. · creditor: Royal Bank of Canada · currency: USD · security: General security agreement dated April 5, 2016 (PPSA-registered first-ranking security interest in all personal property); cash collateral agreements dated July 29, 2021 and April 13, 2022; Credit Agreements (Primary Credit Agreements, VISA Agreement, Master Lease Agreement)
- secured creditorsnote: Part of 'Demanded Indebtedness' set out in Demand Letters dated May 28, 2025 (CAD portion); plus costs, expenses and accruing interest. Certified PPSA search shows 37 registration families; all other registrations are either limited on their face to certain collateral/motor vehicles or registered after the General RBC Registration. Obligations also guaranteed by Drazen Bratic (director/officer, related party) under a limited guarantee of $2,600,000 dated October 27, 2021 (guarantee limit, not a balance). · page: 9 · as of: 2025-05-28 · amount: 1102635.92 · debtor: Pentagon Logistics Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement dated April 5, 2016 (PPSA-registered first-ranking security interest in all personal property, the 'General RBC Registration' against all collateral/motor vehicles); cash collateral agreements dated July 29, 2021 and April 13, 2022; Credit Agreements (Primary Credit Agreements, VISA Agreement, Master Lease Agreement)
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.