Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 3 October 2025
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What we verified from this filing10 verified
- courtONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file noCV-25-00753367-00CL
- secured creditorsnote: Listed in the Service List as "Secured Creditor"; also a personal guarantor (individual) of BDC's facility up to $6,500,000 dated April 5, 2023, and a former director of Magnum Worldwide Holdings Inc.; nature/amount of any personal secured claim not further detailed in the provided pages · page: 3 · creditor: Lawrence Krimker · currency: CAD
- secured creditorsnote: Identified in the Service List as a British Columbia PPR Registrant; no registration date, amount, or collateral scope stated in the provided pages · page: 4 · creditor: Magnum Nutraceuticals Holding Ltd. · currency: CAD · security: British Columbia PPR registration; listed as "Original Registering Party" via Kane Shannon Weiler LLP
- commencement date3 October 2025
- secured creditorsnote: Original principal advanced was $6,500,000 under Letter of Offer dated March 16, 2023 (amended July 6, 2023) to fund buyout of Magnum Nutraceuticals shares - a facility figure, not the outstanding balance; $700,000 of the BDC Indebtedness was assigned to and assumed by 101 Supplements, LP under a Debt and Security Assignment Agreement dated June 11, 2025; personal guarantees up to $6,500,000 also given by individuals Lawrence Krimker and William Ronald K. Russell (related party - Russell is sole director) dated April 5, 2023; a further guarantee up to $6,500,000 and a GSA were granted by related entity 2843737 Ontario Ltd. on February 15, 2024; demand and s.244 notices issued August 27, 2025, 10-day notice period expired September 5, 2025 · page: 16 · as of: 2025-08-27 · amount: 6298493.74 · debtor: Magnum Worldwide Holdings Inc. (Borrower); Magnum Nutraceuticals Inc. (Corporate Guarantor) · creditor: BDC Capital Inc. · currency: CAD · security: General Security Agreements (all present and after-acquired personal property) granted by Magnum Worldwide Holdings Inc. and Magnum Nutraceuticals Inc., each dated April 5, 2023; IP Security Agreement granted by Magnum Nutraceuticals Inc. dated April 5, 2023; Corporate Guarantee from Magnum Nutraceuticals Inc. up to $6,500,000 (April 5, 2023); ON PPSA registrations over all collateral except consumer goods (March 16, 2023, both debtors); BC PPSA registration over all present and after-acquired personal property (March 21, 2023, Magnum Nutraceuticals); Priority Agreements with RBC dated March 31, 2023 giving BDC priority over all present and after-acquired personal property of the Borrower and Corporate Guarantor except Inventory and Accounts Receivable
- secured creditorsnote: Subordinated to BDC pursuant to Priority Agreements dated March 31, 2023 as to all property except Inventory and Accounts Receivable; RBC sold and assigned its indebtedness and related loan/security agreements to 1001343848 Ontario Inc. in or around September 2025 (see separate entry) · page: 18 · debtor: Magnum Worldwide Holdings Inc. and Magnum Nutraceuticals Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: ON PPSA registration over all collateral classifications except consumer goods (registered July 25, 2025, both debtors); BC PPSA registration over all present and after-acquired personal property (registered March 28, 2023 against Magnum Worldwide; January 31, 2011 against Magnum Nutraceuticals)
- secured creditorspage: 19 · debtor: Magnum Nutraceuticals Inc. · creditor: The Bank of Nova Scotia · currency: CAD · security: BC PPSA registration over a 2021 Tesla Model S, registered December 4, 2021 (PMSI-type, single serialized asset)
- secured creditorsnote: $700,000 of the BDC Indebtedness was assigned to and assumed by 101 Supplements, LP (by its General Partner, 101 Supplements GP, LLC) pursuant to a Debt and Security Assignment Agreement dated June 11, 2025 · page: 20 · as of: 2025-06-11 · amount: 700000 · debtor: Magnum Worldwide Holdings Inc. · creditor: 101 Supplements, LP · currency: CAD · security: ON PPSA registration under the "other" collateral classification over Magnum Worldwide's right, title and interest in 101 Supplements, LP and 101 Supplements GP, LLC, and proceeds thereof, registered June 9, 2025
- secured creditorsnote: RBC sold and assigned the indebtedness and related loan/security agreements to 100 Ontario in or around September 2025; Debtors alleged in default to 100 Ontario; 100 Ontario set off amounts in the RBC operating account against the indebtedness; BDC and 100 Ontario were in negotiations for BDC to acquire 100 Ontario's loans and security as of the affidavit date · page: 20 · debtor: Magnum Worldwide Holdings Inc. and Magnum Nutraceuticals Inc. · creditor: 1001343848 Ontario Inc. ("100 Ontario") · currency: CAD · security: Assignee of RBC's loan and security agreements, including RBC's registrations over all present and after-acquired personal property