Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 2 August 2023
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 filing11 verified
- applicantSIGMA ONE CAPITAL INC.
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-23-00703382-00CL
- 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
- commencement date25 July 2023
- secured creditorsnote: Applicant; also holds guarantee of Charles Chan (personal guarantor). Loan matured 2017 with maturity payout of $5,713,805.92 stated in commitment letter (original terms), renewed annually; amount owing as of July 7, 2023 is exact dated balance used here. · page: 7 · as of: 2023-07-07 · amount: 11564963.41 · debtor: KBIJ Corporation · creditor: Sigma One Capital Inc. · currency: CAD · security: First-ranking charge/mortgage registered as Instrument No. AT3927954 on title to 25 Glen Watford Drive, Toronto; first-ranking GSA over all personal property of the Debtor; registered principal face amount $4,500,000 (2015)
- secured creditorsnote: Registered principal only; no stated outstanding balance. · page: 22 · debtor: KBIJ Corporation · creditor: Sewdat, Hardyal · currency: CAD · security: Charge registered as Instrument No. AT5618072 on 2021-01-08; registered principal face amount $269,500; balance due on demand; interest rate 17%
- secured creditorsnote: Registered principal only; no stated outstanding balance. · page: 22 · debtor: KBIJ Corporation · creditor: Bennett, Carlene · currency: CAD · security: Charge registered as Instrument No. AT4917471 on 2018-07-24; registered principal face amount $100,000; interest rate 17%
- secured creditorsnote: Registered principal only; no stated outstanding balance. · page: 22 · debtor: KBIJ Corporation · creditor: JTK Holding Inc. · currency: CAD · security: Second-ranking charge registered as Instrument No. AT3928046 on 2015-06-26; registered principal face amount $2,000,000 (vendor take-back mortgage)
- secured creditorsnote: Registered principal only; no stated outstanding balance. Note: same law firm (Sun & Partners) acted as solicitors on First Charge registration (Exhibit C), suggesting possible related-party/professional connection, though not stated as such in document. · page: 22 · debtor: KBIJ Corporation · creditor: Sun & Partners Professional Corporation · currency: CAD · security: Charge registered as Instrument No. AT5835438 on 2021-08-19; registered principal face amount $200,000; balance due on demand; interest rate 3% per annum
- secured creditorsnote: Registered amount only; no stated outstanding balance. · page: 22 · debtor: KBIJ Corporation · creditor: Jaber, Sami and Jaber, Hani · currency: CAD · security: Notice registered as Instrument No. AT5065977 on 2019-01-30; registered amount $180,000