Ontario · Receivership (court-appointed)
Motion Record
Application / notice of application · 5 May 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing13 verified
- applicantROYAL BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-21-00655331-00CL
- provinceONTARIO
- appointeeThe Fuller Landau Group Inc.
- appointee roleReceiver, without security
- commencement date3 February 2021
- secured creditorsnote: Receiver has requested documentation of indebtedness from second ranking mortgagee, which has not yet been provided; amount and validity of security not yet confirmed · page: 20 · debtor: Unique Restoration Ltd. · creditor: Second ranking mortgagee of the Property (unidentified; possibly VGNA Holdings Inc. or Claudio and Rosanna Bevilacqua per counsel correspondence) · currency: CAD · security: Second ranking mortgage against the Property
- secured creditorsnote: First ranking secured creditor; principal advanced was $3,600,000; outstanding balance stated as approximately $3,700,000 inclusive of interest and costs; Security Opinion obtained confirming validity/enforceability · page: 20 · as of: approximately, as advised to Receiver (May 5, 2021 First Report) · amount: 3700000 · debtor: Unique Restoration Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: First ranking collateral charge/mortgage registered December 21, 2018 in principal amount of $3,600,000; general security agreement dated December 2, 2010; first registered general assignment of rents registered December 21, 2018
- secured creditorsnote: Court-ordered charge for Receiver's and counsel's fees and disbursements · page: 34 · debtor: Unique Restoration Ltd. · creditor: The Fuller Landau Group Inc. (Receiver) and its counsel · currency: CAD · security: Receiver's Charge - first charge on the Property in priority to all security interests, trusts, liens, charges and encumbrances, subject to BIA sections 14.06(7), 81.4(4), 81.6(2)
- secured creditorsnote: Borrowing facility limit stated ($75,000), not an outstanding balance; no certificates shown as issued with amounts filled in on these pages · page: 35 · debtor: Unique Restoration Ltd. · creditor: Lender under Receiver's Certificates (borrowings facility) · currency: CAD · security: Receiver's Borrowings Charge on the Property, subordinate to Receiver's Charge, in priority to other security interests; outstanding principal not to exceed $75,000 borrowing limit
- counselAird & Berlis LLP
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2021-04-30 · kind: invoice · quote: for the period from February 1, 2021 through to the date of April 30, 2021 · start: 2021-02-01 · approval: state: unstated · averages: rate: 467.92 · quote: The average hourly rate in respect of the account is $467.92. · currency: · invoices: · firm text: The Fuller Landau Group Inc. · firm quote: THE FULLER LANDAU GROUP INC. (' Fuller ' or the ' Receiver ') · context quote: in its capacity as Receiver of certain of the assets, undertakings and properties of Unique Restoration Ltd.; form: prose · rows: · money: approximate: false · period: end: 2021-04-29 · kind: interim · quote: for the period of January 21, 2021 to April 29, 2021 · start: 2021-01-21 · approval: state: unstated · averages: · currency: · invoices: · firm text: Minden Gross · firm quote: Minden Gross · context quote: with respect to the fees and disbursements incurred by Minden Gross in relation to these receivership estates for the period of January 21, 2021 to April 29, 2021