Ontario · Receivership (court-appointed)
First Report of the Receiver dated March 6, 2025.pdf
Court officer report · 6 March 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 filing2 verified
- secured creditorsnote: Senior secured and largest creditor of ICE; amount not in dispute per July 17 Reasons; prose approximation elsewhere stated as 'approximately $2.7 million'; personal guarantees exist from Tarsempal Singh Dhaliwal and Dhaliwal Enterprise Holding Inc. as guarantors · page: 47 · as of: 2024-02-26 · amount: 2711546.09 · debtor: International Credit Experts Inc. · creditor: Metropolitan Partners Group Administration, LLC · currency: USD · security: Security interest over all assets/Property of ICE under Financing and Security Agreement dated November 29, 2021; PPSA registration confirmed as sole general security interest registrant; credit facility of up to $10,000,000 CAD
- secured creditorsnote: Source deduction arrears constituting a super-priority (deemed trust) claim against the Property; stated as 'over $800,000'; floor figure per debtor's own books and records · page: 47 · as of: NOI/demand period (February 2024) · amount: 800000 · debtor: International Credit Experts Inc. · creditor: Canada Revenue Agency · currency: CAD