Ontario · Receivership (court-appointed)
Application Record of Roynat Inc. dated July 12, 2024
Application / notice of application · 12 July 2024
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- courtSUPERIOR COURT OF JUSTICE
- court file noCV-24-00001161-0000
- provinceONTARIO
- commencement date12 July 2024
- secured creditorsnote: Overdue property taxes ('Property Tax Arrears'), including $139.34 outstanding taxes for tax year 2023 and $426.06 in penalties; classified secured as municipal tax arrears typically constitute a statutory lien on the property. · page: 12 · as of: 2024-06-27 · amount: 11941.7 · debtor: 1000602770 Ontario Ltd. · creditor: City of Guelph · currency: CAD · security: Statutory municipal property tax lien on the Real Property (225 Southgate Drive, Guelph, Ontario)
- secured creditorsnote: Stated as the 'Obligations' owing by the Debtor as at July 3, 2024. Loan Facility A (Term Loan Facility) had a facility amount of $7,000,000.00 (not a balance). Debtor separately in default of Financing Arrears comprising $29,250.00 principal and $153,638.80 interest, as at July 3, 2024. Roynat holds the only PPSA registration against the Debtor and the only charge registered against the Real Property; all other PPSA-registered creditors served are creditors of Tristar (guarantor), not the Debtor. Tristar Carriers Ltd. (guarantor) is itself in default to its senior lender, BMO, and in forbearance with BMO (does not create a separate secured claim against this Debtor). · page: 13 · as of: 2024-07-03 · amount: 6776182.02 · debtor: 1000602770 Ontario Ltd. · creditor: Roynat Inc. · currency: CAD · security: Debenture dated September 5, 2023 (registered principal $7,000,000.00); Charge/Mortgage of Land (principal $7,000,000.00, instrument WC712167, registered September 11, 2023) over the Real Property, governed by the Debenture; General Assignment of Rents and Leases dated September 5, 2023 (instrument WC712170, registered September 11, 2023); Guarantee and Indemnity from Tristar Carriers Ltd. dated September 5, 2023, limited to $7,000,000.00; General Security Agreement from Tristar Carriers Ltd. dated September 5, 2023