Ontario · Receivership (court-appointed)
Application Record - Applicant - dated 06-Feb-2026
Application / notice of application · 6 February 2026
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 filing5 verified
- applicantNATIONAL BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE
- court file noCL-26-00000046-0000
- 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
- secured creditorsnote: Loan Agreement (Commitment Letter dated June 11, 2021, as amended Nov 17, 2023 and March 5, 2024) originally advanced principal of $15,500,000; the $24,800,000 mortgage figure is the registered/collateral mortgage principal, not the outstanding balance. Total Indebtedness of $15,346,938.92 as of Feb 4, 2026 includes accrued interest and forbearance fees but excludes all fees/costs/expenses. Secured also by personal Full Liability Guarantees of Zoran Cocovski and Steve Dzandzurovski (individual guarantors; each also executed Assignment and Postponement of Creditor's Claims in favour of NBC). An earlier exact dated balance of the same Indebtedness was stated in guarantor demand letters as at October 17, 2024: $14,510,849.69 (Outstanding Principal $14,098,945.45 + Accrued Interest $411,904.24), superseded by the Feb 4, 2026 figure. Borrower in default since Loan Maturity Date of May 31, 2024; NITES/244 Notices delivered Oct 18, 2024; forbearance extended multiple times, forbearance period expired Jan 19, 2026, and Borrower provided an irrevocable Consent to Receivership. Exhibit list also references a 'Second Mortgage for Fees' (AT6900624) and an 'Unauthorized Mortgage' (AT6916504) registered against the property; details/amounts not disclosed in the extracted pages. · page: 10 · as of: 2026-02-04 · amount: 15346938.92 · debtor: Danzor Investments Inc. · creditor: National Bank of Canada (successor to Canadian Western Bank) · currency: CAD · security: Charge/Mortgage No. AT5867557 dated September 24, 2021 (registered principal amount $24,800,000, Prime + 5.00% per annum) on the Real Property; Assignment of Rents (AT5867558) dated July 20, 2021; General Security Agreement dated July 20, 2021 granting a continuing security interest and floating charge over all present and future real, personal and leasehold property; Assignment of Insurance dated July 20, 2021; PPSA (Ontario) registrations against the Borrower (currency date January 18, 2026, no additional registrations disclosed).