Ontario · Receivership (court-appointed)
Application Record Returnable
Application / notice of application · 10 October 2019
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What we verified from this filing10 verified
- applicantROYNAT INC.
- commencement date4 October 2019
- courtONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file noCV-19-00628569-00CL
- statutory basissection 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended, and section 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 as amended
- secured creditorsnote: Stated to be on a 'senior secured basis', inclusive of principal, interest and late payment charges, continuing to accrue, excluding legal fees and enforcement costs. Original Term Loan advanced July 16, 2014 was $2,692,600 CAD (original advance, not the balance). Roynat states its security is validly registered and, based on property registries, first priority. · page: 16 · as of: 2019-09-26 · amount: 2371607.71 · debtor: TamTan Inc. (Borrower) and 1308963 Ontario Limited o/a EZ Food Group (Guarantor) · creditor: Roynat Inc. · currency: CAD · security: Mortgage against the Commercial Property (1405 Morningside Avenue, Toronto); general personal property security interest (GSA) against the Borrower's property; Guarantee by Guarantor secured by a GSA against the Guarantor's property; obligations arise under a Debenture (Exhibit G) and 2014 Facility Letter as extended
- secured creditorsnote: Roynat states it is unaware whether amounts are currently owed under the Cost Sharing Agreement - existence of a possible prior-ranking lien acknowledged but amount cannot be stated. · page: 16 · debtor: TamTan Inc. (Commercial Property) · creditor: Cost sharing agreement creditor (unnamed) · currency: CAD · security: Easement and cost sharing agreement registered on the parcel register for the Commercial Property; amounts owing under the agreement constitute a first lien and charge against the property
- secured creditorsnote: Inclusive of interest, fees and penalties; additional interest accrues at 1.25% after September 30, 2019. Document lists this among 'Other Creditors' with registered claims against the Commercial Property; classified as secured based on statutory municipal tax lien priority. · page: 16 · as of: 2019-09-26 · amount: 90685.14 · debtor: TamTan Inc. and 1308963 Ontario Limited (Debtors) · creditor: City of Toronto · currency: CAD · security: Municipal property tax arrears (statutory lien against the property)
- secured creditorsnote: Writ stated as face amount of $70,874.41 plus costs of $926.93 (components not summed per document). · page: 16 · as of: 2017-04-11 · debtor: TamTan Inc. and 1308963 Ontario Limited (Debtors) · creditor: Employment Panache · currency: CAD · security: 2017 Writ of execution registered against the Debtors, effective April 11, 2017
- secured creditorsnote: Writ stated as face amount of $12,482.68 plus costs of $191.00 (components not summed per document). · page: 16 · as of: 2019-08-16 · debtor: TamTan Inc. and 1308963 Ontario Limited (Debtors) · creditor: Argil Property Tax Services Paralegal Professional Corporation · currency: CAD · security: 2019 Writ of execution registered against the Debtors, effective August 16, 2019