Ontario · Receivership (court-appointed)
APPLICATION RECORD (G GROUP) 23-Oct-2025 (1)_Part1_compressed
Application / notice of application · 23 October 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 filing13 verified
- secured creditorspage: 5 · debtor: G Group 5220 Yonge Ltd. · creditor: WPC GP II Inc. · currency: CAD · security: Mortgage (identified as "Mortgagee" on service list)
- secured creditorsnote: Mortgage postponed per Exhibit U · page: 5 · debtor: G Group 5220 Yonge Ltd. · creditor: Westmount Guarantee Services Inc. · currency: CAD · security: Mortgage (identified as "Mortgagee" on service list); subject to Postponements of Westmount Mortgage (Exhibit U)
- secured creditorsnote: Amount not clearly stated in aged payables table · page: 8 · debtor: G Group 5220 Yonge Ltd. · creditor: Alloy Fusion Inc. · currency: CAD · security: Construction lien (identified as "Lien Claimant" on service list)
- secured creditorsnote: Mortgage postponed per Exhibit T; not otherwise on service list in these pages · page: 12 · debtor: G Group 5220 Yonge Ltd. · creditor: MarshallZehr · currency: CAD · security: Mortgage referenced via Notice of Assignment of Rents-General (Exhibit P) and Postponements of MarshallZehr Mortgage (Exhibit T)
- secured creditorsnote: Applicant bringing BIA s.243/Construction Act receivership application, evidencing secured creditor status; exact outstanding balance stated in Loan Statement as at September 30, 2025 (Exhibit BB) and Demand Letter/NITES dated October 1, 2025 (Exhibit Z) not included in the provided pages, so amount left null; $50M and $250M mortgage figures are registered principal ceilings, not balances; corporate and personal guarantees exist from G Group Development Corp., G Group Management Inc., 2217439 Ontario Inc., Thornrich Investments Ltd., Guizzetti Corporation and individual guarantors per service list · page: 14 · debtor: G Group 5220 Yonge Ltd. · creditor: Romspen Investment Corporation · currency: CAD · security: Commitment dated Oct 17, 2013 (as amended/extended); Acquisition Mortgage and Amendments; Acquisition GSA; Assignment of Rents (2013); Mortgage registered Dec 31, 2021 ($50,000,000 registered principal); Mortgage registered Dec 31, 2021 ($250,000,000 registered principal); Assignment of Rents (2021); Construction GSA dated Nov 3, 2021; Guarantee dated Nov 3, 2021
- secured creditorspage: 94 · as of: 2025-07-31 · amount: 882760 · debtor: G Group 5220 Yonge Ltd. · creditor: Cambridge Drywall Services Ltd. · currency: CAD · security: Construction lien (Construction Act)
- secured creditorspage: 97 · as of: 2025-07-31 · amount: 754028 · debtor: G Group 5220 Yonge Ltd. · creditor: King Koating Roofing Inc. · currency: CAD · security: Construction lien (Construction Act)
- secured creditorsnote: Disputed: O'Keefe Progress Draw Report No. 26 (issued September 30, 2025) states audited amount due is $2,086,296 versus registered lien amount of $2,419,191, difference attributed to unrecorded commercial credits · page: 98 · as of: 2025-07-31 · amount: 2419191 · debtor: G Group 5220 Yonge Ltd. · creditor: Leader Plumbing and Heating Inc. · currency: CAD · security: Construction lien (Construction Act)
- secured creditorspage: 99 · as of: 2025-07-31 · amount: 139832 · debtor: G Group 5220 Yonge Ltd. · creditor: Northern Caulking · currency: CAD · security: Construction lien (Construction Act)
- secured creditorsnote: Elevator contractor; per O'Keefe report, Lender declined to fund related holdback/payables pending completion (page 80) · page: 99 · as of: 2025-07-31 · amount: 904726 · debtor: G Group 5220 Yonge Ltd. · creditor: Modern Elevator Innovations Inc. · currency: CAD · security: Construction lien (Construction Act)
- secured creditorspage: 100 · as of: 2025-07-31 · amount: 297637 · debtor: G Group 5220 Yonge Ltd. · creditor: Panson Electrical Services Ltd. · currency: CAD · security: Construction lien (Construction Act)
- secured creditorspage: 100 · as of: 2025-07-31 · amount: 384916 · debtor: G Group 5220 Yonge Ltd. · creditor: Petra Design Inc. · currency: CAD · security: Construction lien (Construction Act)
- secured creditorspage: 102 · as of: 2025-07-31 · amount: 275705 · debtor: G Group 5220 Yonge Ltd. · creditor: TKL Group Inc. · currency: CAD · security: Construction lien (Construction Act)