Ontario · Interim receivership
Application Record dated June 23, 2026
Application / notice of application · 23 June 2026
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What we verified from this filing14 verified
- applicantKENSINGTON PRIVATE EQUITY FUND
- commencement date23 June 2026
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-26-00000292-0000
- provinceONTARIO
- statutory basisSECTION 243(1) OF THE BANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, C. B-3, AS AMENDED AND SECTION 101 OF THE COURTS OF JUSTICE ACT, R.S.O. 1990, C. C.43, AS AMENDED
- appointeeTDB RESTRUCTURING LIMITED
- appointee roleProposed Interim Receiver and Proposed Receiver
- secured creditorsnote: Aggregated per PMSI/equipment-financier class; no individual balances stated in reviewed pages. · page: 4 · debtor: Bold Canine Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Serialized equipment/vehicle lease and purchase-money financiers per service list, comprising: Linde Canada Inc. (lease of the liquid-nitrogen 'Nitrogen Equipment'), Hyundai Capital Lease Inc., Hyundai Motor Finance, Reiser (Canada) Co., Ford Credit Canada Leasing (division of Canadian Road Leasing Company), Ryder Truck Rental Canada Ltd., and National Bank Equipment Finance Inc. (formerly CWB National Leasing Inc).
- secured creditorsnote: Listed as Secured Creditor on the service list; no amount or security instrument details provided in reviewed pages. · page: 5 · debtor: Bold Canine Inc. · creditor: Federal Economic Development Agency for Southern Ontario · currency: CAD
- secured creditorsnote: Blanket secured creditor. Subject to a BMO/BDC Subordination Agreement dated April 13, 2021 (Exhibit J); priority direction not disclosed in reviewed pages. · page: 26 · debtor: Bold Canine Inc. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General Security Agreement dated March 4, 2021 (Exhibit I) and Letter Agreement dated March 25, 2021 (Exhibit H); financed the specialized 'Formax Equipment' used to create food patties.
- secured creditorsnote: Stated as 'approximately' $4,827,000 (including accrued interest) as of June 16, 2026 in both para 20 and para 62 of the Notice of Application (no more precise dated figure disclosed). Related party: Kensington is the Applicant itself, holds preferred shares from a ~$7.1M 2020 investment, and has had a board seat since January 10, 2020. · page: 27 · as of: 2026-06-16 · amount: 4827000 · debtor: Bold Canine Inc. · creditor: Kensington Private Equity Fund · currency: CAD · security: General Security Agreement (GSA) dated March 17, 2025, granting security in all present and future assets, undertaking and property of the Debtor (blanket all-asset security); secures the Secured Grid Promissory Note dated March 17, 2025 (drawn 9 times from $600,000 to a principal balance of $4,090,000 as of February 2, 2026 per Schedule A, before accrued interest).
- secured creditorsnote: Listed as a Secured Creditor on the service list (p.5). Amount owing not quantified; affidavit/notice para 50 states a newly-assigned Kensington board member 'discovered the amounts owing to Saugeen which I was not aware of,' indicating previously undisclosed secured debt. · page: 32 · debtor: Bold Canine Inc. · creditor: Saugeen Economic Development Corporation · currency: CAD
- secured creditorsnote: Blanket all-property secured creditor. Subject to a BMO/BDC Subordination Agreement dated April 13, 2021 (Exhibit J); priority direction not disclosed in reviewed pages. Personal guarantees referenced: BMO conditions precedent require $250,000 life insurance on Caroline Bolduc and $250,000 on David Herz (Founders/directors), and a deficiency agreement to be signed by the personal guarantors (names only, per role). · page: 174 · debtor: Bold Canine Inc. · creditor: Bank of Montreal (BMO) · currency: CAD · security: General Security Agreement dated October 4, 2017 (Exhibit G) and Letter Agreement dated September 28, 2017 (Exhibit F); Facility #3 shown is an Operating Demand Loan with Facility Authorization of $110,000 (a facility limit, not an outstanding balance); other BMO facilities referenced in the Letter Agreement are not detailed in reviewed pages.