Ontario · Receivership (court-appointed)

Motion Record

Application / notice of application · 14 May 2026

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applicantROYAL BANK OF CANADA
courtSUPERIOR COURT OF JUSTICE
court file noCV-24-00001190-0000
proceeding typereceivership_court
provinceONTARIO
appointeeMNP Ltd.
appointee rolecourt-appointed receiver
commencement date12 April 2024
unsecured creditorsnote: Deemed trust claim, in priority to the secured creditor (RBC); total unremitted source deductions assessed at $4,327.41, of which $2,705.06 is the priority deemed trust portion payable. · page: 7 · as of: 2026-01-08 · basis: CRA notice of assessment/letter confirming amount outstanding for employee deemed statutory trust claim · amount: 2705.06 · debtor: 2648790 Ontario Inc. · creditor: Canada Revenue Agency (employee source deductions deemed trust) · currency: CAD
secured creditorsnote: Outstanding balance plus ongoing interest and costs, per RBC statement of account as of June 12, 2025; prior prose figure of $3,003,634.95 as at March 20, 2024 (per Application Record) and $3,021,976.23 (per Form 87 Notice of Statement of Receiver, April 2024) are earlier/approximate figures superseded by this dated statement. Independent legal opinion dated June 24, 2025 confirmed both the mortgage and general security agreement valid, enforceable, attached and perfected. · page: 8 · as of: 2025-06-12 · amount: 3383653.2 · debtor: 2648790 Ontario Inc. · creditor: Royal Bank of Canada · currency: CAD · security: First-ranking charge/mortgage on Real Property registered September 22, 2021 in principal amount of $3,175,000.00; PPSA registration dated August 25, 2021 in support of general security agreement
unsecured creditorsnote: Deemed trust claim for HST was reversed to unsecured status upon Company's assignment in bankruptcy on July 16, 2025 (RBC's secured claim now has priority over this claim). · page: 43 · as of: 2024-09-25 · basis: CRA letter to Receiver dated September 25, 2024 re unremitted HST · amount: 132238.94 · debtor: 2648790 Ontario Inc. · creditor: CRA (unremitted HST) · currency: CAD
unsecured creditorsnote: CRA letter confirms this amount does not have priority to the secured creditors. · page: 43 · as of: 2024-09-25 · basis: CRA statement of account dated September 25, 2024 · amount: 118.48 · debtor: 2648790 Ontario Inc. · creditor: CRA (employee source deductions, no priority) · currency: CAD
secured creditorsnote: Later reported municipal tax arrears figure was $93,583.68 as of May 28, 2025 (see financial_position note); this earlier figure is from the April 2024 statutory notice. · page: 82 · as of: 2024-04-23 · amount: 46594.93 · debtor: 2648790 Ontario Inc. · creditor: City of Owen Sound · currency: CAD · security: Not stated (listed as secured creditor for municipal tax arrears in Form 87 Notice of Statement of Receiver)
secured creditorspage: 82 · as of: 2024-04-23 · amount: 12471.37 · debtor: 2648790 Ontario Inc. · creditor: Econolease Financial Services Inc. · currency: CAD · security: Not stated (listed as secured creditor in Form 87 Notice of Statement of Receiver)
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Scholtens Inc. · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1809 · debtor: 2648790 Ontario Inc. · creditor: Hydro One Networks Inc. · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Coca-Cola Enterprises · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Wallace & Carey Inc. · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Canada Cleaning Systems · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: National Energy Equipment · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Albert's Gas Station Maintenance · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Artic Glacier · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Georgian Bay Overhead Doors · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Breyers Ice Cream · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Washworks Canada · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Terry Walker Propane · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Bulloch Technologies · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Vomar Industries Inc. · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Jack-Link's · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Great Canadian Meat · currency: CAD
unsecured creditorsnote: Nominal placeholder amount distinct from later-reported CRA HST/source deduction claims · page: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: CRA - Tax - Ontario · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Esso/Imperial Oil - C460; 463; 464; 465; 466 Bankruptcies · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: JTI Tobacco · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Relx E-cigarettes · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 380 · debtor: 2648790 Ontario Inc. · creditor: Bell Mobility c/o FCT Default Solutions · currency: CAD
unsecured creditorsnote: Second, separate listed amount for same named creditor · page: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 289 · debtor: 2648790 Ontario Inc. · creditor: Bell Mobility c/o FCT Default Solutions · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 600 · debtor: 2648790 Ontario Inc. · creditor: Reliance Home Comfort · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 206 · debtor: 2648790 Ontario Inc. · creditor: Frito Lay Canada · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 179 · debtor: 2648790 Ontario Inc. · creditor: Telus Mobility Services · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 778 · debtor: 2648790 Ontario Inc. · creditor: Miller Waste Systems Inc. - Markham Division · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Flanagan Foodservice Inc. · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Imperial Tobacco · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 825 · debtor: 2648790 Ontario Inc. · creditor: Technical Standards and Safety Authority · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: UPI Energy LP · currency: CAD
unsecured creditorsnote: Listed separately as unsecured (nominal $1.00) in addition to secured municipal tax arrears entry · page: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: City of Owen Sound · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Waagg's Ltd · currency: CAD
unsecured creditorspage: 83 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Core-Mark · currency: CAD
unsecured creditorspage: 84 · as of: 2024-04-23 · basis: Form 87 Notice of Statement of the Receiver - list of other creditors · amount: 1 · debtor: 2648790 Ontario Inc. · creditor: Redbull Canada Inc. · currency: CAD
recovery outcomeentries: basis: unstated · quote: Authorizing and directing the Receiver to pay from available receivership funds a final distribution to Canada Revenue Agency (' CRA ') in the amount of $2,705.06 in respect of its employee source deductions statutory trust claim; · pct of: unstated · outcome: distribution · currency: CAD · class key: deemed_trust · stated by: receiver · amount low: 2705.06 · amount high: 2705.06 · class label: CRA employee source deductions statutory trust claim · creditor name: Canada Revenue Agency · interim final: final · currency quote: All amounts referred to in the First Report are in Canadian dollars unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: Authorizing and directing the Receiver to pay from available receivership funds following the payment of the above noted amounts a final distribution to the applicant, Royal Bank of Canada (' RBC ') in an amount not to exceed the amount owing on account of its secured claim; and · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · class label: secured claim of Royal Bank of Canada · creditor name: Royal Bank of Canada · interim final: final · currency quote: All amounts referred to in the First Report are in Canadian dollars unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: THIS COURT ORDERS AND DECLARES THAT in the event the Sales Transaction closes and the Receiver receives the Sale Proceeds from the Purchaser, the Receiver shall pay an interim distribution to RBC in the amount of $1,500,000.00 on account of RBC's secured claim. · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 1500000 · cumulative: false · amount high: 1500000 · class label: secured claim of Royal Bank of Canada (interim mortgage distribution) · creditor name: Royal Bank of Canada · interim final: interim · conditional on: in the event the Sales Transaction closes and the Receiver receives the Sale Proceeds from the Purchaser · currency quote: All amounts referred to in the First Report are in Canadian dollars unless otherwise noted. · claims qualifier: unstated · stated on: 2026-05-14 · table missing: