Ontario · Receivership (court-appointed)
Application Record April 14, 2026 (Vol. I of II)
Application / notice of application · 14 April 2026
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- applicantTHE TORONTO-DOMINION BANK
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-26-00000153-0000
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- commencement date9 April 2026
- appointeeDeloitte Restructuring Inc.
- appointee roleReceiver
- secured creditorsnote: Amount is composed of CAD $29,630,230.57 (itemized: Novo Operating Line-CAD $5,126,249.19, Operating Line-SR&ED $513,763.02, Term Loan $1,717,825.75, VISA ending 8608 $8,503.34, TD Equipment Finance Loan $185,417.59; 213 Term Facility $21,001,900.87, Term Facility $775,761.64, Unauthorized Account Overdraft $300,809.17) plus USD $282,999.96 (Novo Operating Line-USD), exclusive of accruing interest and costs. Earlier prose in Notice of Application (para m) stated CAD $28,423,264.25 plus USD $305,971.05 owing as of June 17, 2025 under the Forbearance Agreement - a different, earlier date's balance. TD Bank is the only registered secured creditor on title to the Real Property. · page: 29 · as of: 2026-04-10 · amount: 29630230.57 · debtor: Novo Plastics Inc. and 2139654 Ontario Limited · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreements (Novo GSA and 213 GSA) over all present and after-acquired personal property; first charge/mortgage (Instrument No. YR3514237, as amended) in principal amount of $26,500,000 registered January 10, 2023 on Real Property (388 Markland Street, Markham); specific assignment of leases (Instrument No. YR3514238) registered January 10, 2023; unlimited cross-guarantees by each Debtor; PPSA General TD Registrations against all collateral other than consumer goods (32 registration families in aggregate, some limited to equipment/motor vehicles)