Ontario · Receivership (court-appointed)
Application Record returnable May 14, 2025
Application / notice of application · 17 April 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 filing8 verified
- applicantMARSHALLZEHR GROUP INC.
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-25-00741261-00CL
- provinceONTARIO
- statutory basiss. 243(1) of the Bankruptcy and Insolvency Act and s. 101 of the Courts of Justice Act
- secured creditorsnote: Stated as an approximate balance for principal, interest and expenses. The MZ 306 Loan facility/principal amount (as amended) was $17,262,643.59. Guaranteed by JHCR (formerly '274', now Jake's House Community Residences) and by 2233525 Ontario Inc. ('223', a related MZ special-purpose entity) - guarantees secured by JHCR General Security Agreements and 223 Corporate Guarantees. · page: 14 · as of: 2025-01-28 · amount: 22123146 · debtor: 2301402 Ontario Limited (the Borrower) · creditor: MarshallZehr Group Inc. (MZ 306 Loan) · currency: CAD · security: First Charge/Mortgage of Land ('Original First Charge') - principal amount $20,000,000, registered against 135, 139, 141 & 143 Main St., Lucan; collateral first Charge/Mortgage ('Collateral First Charge') - principal amount $20,000,000, registered against 133 Main St.; General Security Agreement over all present and after-acquired personal property of the Borrower
- secured creditorsnote: Balance excludes legal costs (per sworn affidavit). MZ 307 Loan facility/principal amount was $8,850,157.40. Guaranteed by JHCR and by 223 (related MZ entity). · page: 36 · as of: 2025-01-28 · amount: 11004806 · debtor: 2301402 Ontario Limited (the Borrower) · creditor: MarshallZehr Group Inc. (MZ 307 Loan) · currency: CAD · security: Second Charge/Mortgage of Land ('Original Second Charge') - principal amount $10,000,000, against the Original Charge Lands (135, 139, 141 & 143 Main St.); collateral second Charge/Mortgage ('Collateral Second Charge') - principal amount $10,000,000, against 133 Main St.; General Security Agreement
- secured creditorsnote: Balance excludes legal costs (per sworn affidavit). Notice of Application states the MZ 308 Loan facility/principal amount as $13,139,839.02 (this is the original advance, not the outstanding balance). Guaranteed by JHCR. · page: 37 · as of: 2025-01-28 · amount: 5139839.02 · debtor: 2301402 Ontario Limited (the Borrower) · creditor: MarshallZehr Group Inc. (MZ 308 Loan) · currency: CAD · security: Third Charge/Mortgage of Land ('Third Charge') - principal amount $15,000,000, against all Real Property; General Security Agreement dated December 23, 2019