Ontario · Receivership (court-appointed)
Responging Motion Record of C&K Mortgage Services Inc. Returnable August 17, 2020
Application / notice of application · 11 August 2020
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 filing10 verified
- applicantC & K MORTGAGE SERVICES INC.
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-20-00643021-00CL
- provinceONTARIO
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, section 101 of the Courts of Justice Act, and section 68 of the Construction Act
- secured creditorsnote: Registered charge amount ($5,800,000) per parcel register; affidavit states principal amount advanced was $4,550,000.00 (Oct 6, 2018 commitment letter, as amended Nov 6, 2018 and Dec 2, 2019) and endorsement of Justice Conway (July 2, 2020) states Applicant 'is owed over $2.5 million' as of that date. First Mortgage originally registered against five parcels/four homes; two homes since sold with proceeds applied to Loan, leaving two Properties (Camilla and Mateo) as remaining security. · page: 20 · as of: 2018-11-16 · amount: 5800000 · debtor: Camilla Court Homes Inc. and Elite Homes Inc. · creditor: C & K Mortgage Services Inc. (Rescom Capital) · currency: CAD · security: Charge registered 2018/11/16 (instrument PR3409292) against Camilla Property (PIN 13348-0587) and Mateo Property (PIN 13348-0589); also No Assignment of Rents General; postponement of Bilwani, Shazad charge (PR2940841) to this charge
- secured creditorsnote: Original registered principal was $920,000 (Zoom Creditmay Inc. charge, 2016); transferred to Bilwani Nov 16, 2018; postponed in priority behind C & K Mortgage's charge on same date. Also named notice holder for $1 (PR3409285). · page: 21 · as of: 2018-11-16 · debtor: Camilla Court Homes Inc. · creditor: Bilwani, Shazad · currency: CAD · security: Charge (transferred from Zoom Creditmay Inc., originally registered 2016/06/30 as PR2940841, principal $920,000) against Camilla Property and Mateo Property; transferred to Bilwani 2018/11/16; postponed to C & K Mortgage Services Inc. charge (PR3409292)
- secured creditorsnote: Registered construction lien claim. · page: 21 · as of: 2019-10-25 · amount: 18732 · debtor: Camilla Court Homes Inc. · creditor: Canadian Choice Home Services Inc. · currency: CAD · security: Construction lien registered against Camilla Property (PIN 13348-0587), instrument PR3559790
- secured creditorsnote: Registered construction lien claim. · page: 21 · as of: 2019-12-13 · amount: 3909 · debtor: Camilla Court Homes Inc. · creditor: Super Save Toilet Rentals Inc. · currency: CAD · security: Construction lien registered against Camilla Property (PIN 13348-0587), instrument PR3587113
- secured creditorsnote: Registered construction lien claim, appears on both parcels. · page: 21 · as of: 2020-04-28 · amount: 70372 · debtor: Camilla Court Homes Inc. · creditor: Via Trim & Doors Inc. · currency: CAD · security: Construction lien registered against Camilla Property (PIN 13348-0587) and Mateo Property (PIN 13348-0589), instrument PR3644457