Ontario · Receivership (court-appointed)
Application Record dated January 30, 2025
Application / notice of application · 30 January 2025
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 filing8 verified
- applicant405 ST. DAVID STREET INVESTMENTS INC.
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-24-00733110-00CL
- statutory basissubsection 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 Receiver
- commencement date12 December 2024
- secured creditorsnote: Applicant/vendor take-back mortgagee is the secured lender of the Respondent; stated balance owing 'plus accruing interest and legal fees'; Parcel Abstracts reviewed disclose no liens, charges or mortgages other than this VTB Mortgage, and a PPSA search against the Respondent conducted January 15, 2025 disclosed no registrations other than those in favour of the Applicant · page: 19 · as of: 2024-11-27 · amount: 10510095.32 · debtor: 2750876 Ontario Inc. · creditor: 405 St. David Street Investments Inc. · currency: CAD · security: VTB Mortgage/Charge registered May 28, 2021 against the Real Property (405 St. David Street, Lindsay – Parcels 1, 2 and 3), LRO No. 57, Instrument No. KL177752; registered principal $9,860,000.00, interest 4.0% per annum compounded semi-annually, maturity May 27, 2024