Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 23 January 2026
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 filing6 verified
- secured creditorsnote: Indebtedness of $27,800,887.65 stated as of December 2, 2025, including interest accrued to that date but excluding fees, costs and expenses, which continue to accrue. The Kelfield Mortgages (First and Second) were discharged on May 22, 2025 due to an administrative error and were re-registered on May 27, 2025 as Instruments AT6824230 and AT6824232. Guarantees from Rest Acres and Swinfin are unlimited; Limited Guarantees from individual guarantors (directors) each capped at $10,000,000 plus interest/costs are personal guarantees, not secured creditor claims. · page: 11 · as of: 2025-12-02 · amount: 27800887.65 · debtor: Brook Restoration Ltd. (Borrower); E G 869 Rest Acres Ltd. and Swinfin Properties Inc. (Guarantors/security grantors) · creditor: National Bank of Canada (successor to Canadian Western Bank) · currency: CAD · security: General security agreements (GSAs, all-property/floating charge) from Brook, Rest Acres, and Swinfin (Exhibit I); First Rest Acres Mortgage (registered principal $13,402,500, Instrument BC393621, reg. 2020-12-31) and Second Rest Acres Mortgage (registered principal $28,000,000, Instrument BC439167, reg. 2022-09-01) against 869 Rest Acres; First Kelfield Mortgage (registered principal $13,402,500, Instrument AT5612655, first reg. 2020-12-31) and Second Kelfield Mortgage (registered principal $28,000,000, Instrument AT6174547, first reg. 2022-09-01) against 21 Kelfield; Rent Assignments from Rest Acres and Swinfin; general assignment of debts, assignments of insurance, assignment of material contracts, assignment/postponement of creditor's claims, assignments of security as posted; PPSA (Ontario) registrations against all three Respondents
- secured creditorsnote: Registration post-dates NBC's registrations against the Respondents; amount not stated in document · page: 35 · debtor: Brook Restoration Ltd. · creditor: Western Surety Company · currency: CAD · security: PPSA (Ontario) financing statement; collateral classifications: Inventory, Equipment, Accounts, Other, Motor Vehicle Included
- secured creditorsnote: Registration post-dates NBC's registrations against the Respondents; amount not stated in document · page: 35 · debtor: Brook Restoration Ltd. and Swinfin Properties Inc. · creditor: Liberty Mutual Insurance Company · currency: CAD · security: PPSA (Ontario) financing statement; collateral classifications: Inventory, Equipment, Accounts, Other, Motor Vehicle Included
- secured creditorsnote: Registration post-dates NBC's registrations against the Respondents; amount not stated in document · page: 35 · debtor: Brook Restoration Ltd. · creditor: Loopstra Nixon LLP · currency: CAD · security: PPSA (Ontario) financing statement; collateral classifications: Inventory, Equipment, Accounts, Other, Motor Vehicle Included
- secured creditorsnote: Registration post-dates NBC's registrations against the Respondents; amount not stated in document · page: 35 · debtor: Brook Restoration Ltd. · creditor: 471021 Ontario Limited · currency: CAD · security: PPSA (Ontario) financing statement; collateral classifications: Inventory, Equipment, Accounts, Other, Motor Vehicle Included
- secured creditorsnote: Registration pre-dates NBC's registrations against Swinfin but appears to have been amended to transfer the registration from Swinfin to unrelated debtors; current applicability to Swinfin uncertain. Equitable Trust to be given notice of the application out of caution. · page: 35 · debtor: Swinfin Properties Inc. · creditor: Equitable Trust Company · currency: CAD · security: PPSA (Ontario) financing statement (pre-existing); collateral classifications: Inventory, Equipment, Accounts, Other; general collateral description referencing claims re 2908 St. Clair Avenue East, Toronto