Ontario · Receivership (court-appointed)
Application Record of the Applicant Returnable December 10, 2024.pdf
Application / notice of application · 10 December 2024
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What we verified from this filing9 verified
- applicantROYAL BANK OF CANADA
- courtONTARIO SUPERIOR COURT OF JUSTICE
- court file noCV-24-00005068-0000
- commencement date1 November 2024
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3, as amended and section 101 of the Courts of Justice Act, R.S.O. 1990, c.C.43
- secured creditorsnote: Term Facility $700,000 limit, $708,604.69 owing as at Aug 16, 2024; Credit Card Facility $5,000 limit, $6,309.15 owing as at Aug 16, 2024; demand letter dated Aug 22, 2024 confirms same total $715,189.51 (Demand Loan $708,604.69 + Visa $6,309.15 + Overdraft $275.67) · page: 10 · as of: 2024-08-16 · amount: 715189.51 · debtor: 2723324 Ontario Limited · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated April 20, 2023 (272 GSA); Guarantee and Postponement of Claim from 255 Ontario dated April 20, 2023 limited to $705,000, supported by 255 GSA; Charge/Mortgage of Land, principal sum $980,000.00, instrument PR4194826 registered May 1, 2023, first charge over Real Property
- secured creditorsnote: 255 Ontario as related-party guarantor/secured creditor of 272 Ontario obligations; amount is guarantee limit, not a stated balance · page: 10 · as of: 2023-04-20 · amount: 705000 · debtor: 272 Ontario (2723324 Ontario Limited) · creditor: 255 Ontario (2551205 Ontario Inc.) · currency: CAD · security: Guarantee and Postponement of Claim from 255 Ontario dated April 20, 2023, limited to $705,000, supported by 255 GSA
- secured creditorsnote: Operating Facility maximum credit limit $250,000, $251,395.40 owing as at Aug 16, 2024; Credit Card Facility $25,000 limit, $30,163.82 owing as at Aug 16, 2024 · page: 11 · as of: 2024-08-16 · amount: 283282.27 · debtor: 2551205 Ontario Inc. · creditor: Royal Bank of Canada · currency: CAD · security: 255 General Security Agreement dated April 20, 2023; Guarantee and Postponement of Claim from 272 Ontario dated April 20, 2023, limited to $275,000
- secured creditorsnote: 272 Ontario as related-party guarantor/secured creditor of 255 Ontario obligations; amount is guarantee limit, not a stated balance · page: 12 · as of: 2023-04-20 · amount: 275000 · debtor: 255 Ontario (2551205 Ontario Inc.) · creditor: 272 Ontario (2723324 Ontario Limited) · currency: CAD · security: Guarantee and Postponement of Claim from 272 Ontario dated April 20, 2023, limited to $275,000