Ontario · Receivership (court-appointed)
First Report to Court dated March 26, 2020 - Euclid Property.pdf
Court officer report · 26 March 2020
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What we verified from this filing9 verified
- applicantGRANT THORNTON LIMITED in its capacity as Court-appointed Receiver of MONEY GATE INVESTEMENT CORPORATION
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-19-00628085-00CL
- provinceONTARIO
- appointeeGrant Thornton Limited
- appointee rolereceiver
- commencement date25 November 2019
- secured creditorsnote: Payout statement accepted by Receiver as the Home Trust Claim; first-ranking charge, subject to Contingent Opinion re: title correction · page: 15 · as of: 2020-04-30 · amount: 1130664.95 · debtor: 2450531 Ontario Ltd. (Euclid Owner) · creditor: Home Trust Company · currency: CAD · security: First registered mortgage against Euclid Property, principal amount $1,120,000
- secured creditorsnote: Payout statement accepted by Receiver as the MGMIC Claim; second-ranking charge. Prior prose figure: as at Receivership Order date (Nov 25, 2019), amount owing was $307,454.17 for principal and interest, before costs (para 12). Related party context: MGMIC itself is under separate receivership by GTL · page: 15 · as of: 2020-04-30 · amount: 330975 · debtor: 2450531 Ontario Ltd. (Euclid Owner) · creditor: Money Gate Investment Mortgage Corporation (MGMIC), by Grant Thornton Limited as MGMIC Receiver · currency: CAD · security: Second registered mortgage against Euclid Property, principal amount $282,500