Ontario · Receivership (court-appointed)
245 Notice
Notice of receiver (s. 245 / Form 87) · 5 September 2024
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
- applicantRoyal Bank of Canada
- appointeeMNP Ltd.
- appointee rolereceiver
- commencement date20 August 2024
- courtOntario Superior Court of Justice
- financial positionnote: Both properties (1450 and 1625-1647 Tecumseh Road East, Windsor, ON) are listed with Book Value “Unknown”, so no asset total is stated. The Receiver states it will commission Environmental Assessments before taking possession. · page: 1 · basis: Property subject to the Receiver's appointment, stated at “Book Value” under s.245(1) BIA. · scope: 1222210 B.C. Ltd. (entity level) — real property only · currency: CAD
- proceeding typereceivership_court
- secured creditorsnote: Stated by the Receiver under s.245(1)(d) BIA as “the estimated amount owing”; no valuation date is tied to the figure. · page: 1 · amount: 915000 · debtor: 1222210 B.C. Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Security in the Properties at 1450 and 1625-1647 Tecumseh Road East, Windsor, ON; the Receiver was appointed on application by RBC as secured creditor.
- statutory basisSubsection 245 & 246 (1) of the Bankruptcy and Insolvency Act
- unsecured creditorsnote: Municipal claim (property taxes on the Windsor properties on the face of the filing). The Schedule lists it among “other creditors” without stating any statutory rank for it. · page: 3 · basis: Schedule/Creditor List attached to the Notice and Statement of Receiver under ss.245 & 246(1) BIA — “The list of other creditors of the insolvent person and the amount owed to each creditor”, as identified by the Receiver. · amount: 128840 · debtor: 1222210 B.C. Ltd. · creditor: City of Windsor · currency: CAD
- unsecured creditorsnote: Amount stated as “unknown” — not a zero. Crown claim (deemed-trust class where applicable). · page: 3 · basis: Schedule/Creditor List attached to the Notice and Statement of Receiver under ss.245 & 246(1) BIA — “The list of other creditors of the insolvent person and the amount owed to each creditor”, as identified by the Receiver. · debtor: 1222210 B.C. Ltd. · creditor: Canada Revenue Agency · currency: CAD