Ontario · Receivership (court-appointed)
Application Record of RBC dated June 7, 2023
Application / notice of application · 7 June 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 filing6 verified
- secured creditorsnote: Registered secured creditor; GTPS credit facility from RBC was intended to pay out BMO but it is unclear if this occurred · page: 9 · debtor: GT Parts Serve Ltd. (GTPS) · creditor: Bank of Montreal · currency: CAD · security: PPSA registration (blanket, nature not specified), registered prior to RBC's registration
- secured creditorsnote: Registered secured creditor; amount not separately stated for Express GTPS as debtor (indebtedness reported against GTPS and 269 as original borrowers) · page: 59 · debtor: Express GT Parts Serve Inc. (Express GTPS) · creditor: Royal Bank of Canada · currency: CAD · security: PPSA registration covering Inventory, Equipment, Accounts, Other, Motor Vehicle; amended to add Express GTPS as additional debtor on RBC's registrations against the Borrowers
- secured creditorsnote: Registered secured creditor per certified PPSA search results; amount not stated · page: 59 · debtor: Express GT Parts Serve Inc. and 2696009 Ontario Inc. · creditor: Uni-Select Canada Inc. · currency: CAD · security: PPSA registration (blanket, nature not specified), registered subsequent to RBC's registrations
- secured creditorsnote: Demand letter amount as at March 9, 2023 (revolving demand facility: principal $755,546.93 + interest $1,749.14); prose in application/affidavit also cites $757,296.07 · page: 248 · as of: 2023-03-09 · amount: 757296.07 · debtor: GT Parts Serve Ltd. (GTPS) · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement dated October 22, 2021; GTPS Credit Agreement dated August 25, 2021 as amended February 15, 2023; PPSA registrations covering Inventory, Equipment, Accounts, Other, Motor Vehicle
- secured creditorsnote: Registered principal amount of charge/mortgage, not a stated balance; charge also secures 284's direct borrowings from RBC not part of this application, so exceeds the guarantee amount · page: 257 · debtor: 2843923 Ontario Inc. (284) · creditor: Royal Bank of Canada · currency: CAD · security: Charge/mortgage on real property at 15958 Airport Road, Caledon, Ontario, principal amount $1,837,500.00, registered under instrument PR3939122 dated November 2, 2021; general security agreement dated October 22, 2021
- secured creditorsnote: Demand letter amount as at March 9, 2023, comprising Business Operating Line (principal $120,000.00 + interest $533.23), VISA credit card $20,189.26, CEBA loan $60,000.00 · page: 262 · as of: 2023-03-09 · amount: 200722.49 · debtor: 2696009 Ontario Inc. (269) · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement dated March 11, 2021; 269 Credit Agreement (business banking loan agreement, credit card agreement dated March 11, 2021, CEBA enrollment terms); PPSA registrations covering Inventory, Equipment, Accounts, Other, Motor Vehicle