Ontario · Receivership (court-appointed)
Application Record of the Applicant dated September 30, 2025
Application / notice of application · 30 September 2025
What we verified from this filing14 verified
- applicantMERIDIAN CREDIT UNION LIMITED
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00100786-0000
- statutory basisSUBSECTION 243(1) OF THE BANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, c. B-3, AS AMENDED, AND SECTION 101 OF THE COURTS OF JUSTICE ACT, R.S.O. 1990, c. C.43, AS AMENDED
- commencement date1 August 2025
- secured creditorsnote: Stated only as an approximation ('significant outstanding government obligations aggregating approximately $330,000') in the grounds for the application, not broken down by creditor. May overlap with, but does not reconcile to, the itemized City of Ottawa property tax arrears figures shown separately above (Exhibit M); no CRA notice content is included in the excerpted pages (Exhibit N cover page only, no substantive content). · page: 11 · as of: Meridian's December 2024 loan review · amount: 330000 · debtor: Mushimpex Investments Inc. · creditor: Government obligations (CRA income tax, HST, and municipal property tax arrears) (aggregate as reported) · currency: CAD · security: Mixed statutory priority claims - deemed trust (income tax/HST) and municipal tax lien (property tax)
- secured creditorsnote: Loan principal advanced was $1,850,000 (fully advanced Dec 20, 2019); matured Dec 20, 2024 unpaid; indebtedness was $1,578,648.32 as at June 12, 2025 (demand date); increased to $1,590,919.62 as at July 25, 2025, exclusive of Meridian's expenses. Also secured by an unlimited personal Guarantee and Postponement of Claim from Eddy Mushibuka, sole director of the Debtor (related-party guarantor), dated December 4, 2019. · page: 12 · as of: 2025-07-25 · amount: 1590919.62 · debtor: Mushimpex Investments Inc. · creditor: Meridian Credit Union Limited · currency: CAD · security: First collateral charge ('Meridian Mortgage') registered December 20, 2019 as Instrument No. OC2178444 against 336 Tweedsmuir Avenue, Ottawa, in the registered/credit-limit amount of $3,100,000 (a ceiling, not a balance); General Security Agreement dated December 3/4, 2019, perfected by PPSA registration; General Assignment of Leases and Rents registered December 20, 2019 as Instrument No. OC2178447
- unsecured creditorsnote: Described only as an approximate '$1.7 million Judgment'; exact amount not stated. Applicant states it has no visibility into how the judgment arose or the Debtor's plan to address it. · page: 12 · as of: July 2024 · basis: Writ of Seizure and Sale held at the Ottawa Sheriff's Office in respect of a judgment, as recited in the application's grounds · amount: 1700000 · debtor: Mushimpex Investments Inc. · creditor: Caisse Desjardins Ontario Credit Union Inc. · currency: CAD
- unsecured creditorsnote: Described only as an approximate figure ('approximately $784,000'); exact amount not stated. · page: 12 · as of: May 2024 · basis: Writ of Seizure and Sale held at the Ottawa Sheriff's Office in respect of a second judgment, as recited in the application's grounds · amount: 784000 · debtor: Mushimpex Investments Inc. · creditor: Oakwood Designers & Builders Inc. · currency: CAD
- unsecured creditorsnote: Described only as an approximate figure ('approximately $1,006,000'); exact amount not stated. · page: 12 · as of: September 2023 · basis: Writ of Seizure and Sale held at the Ottawa Sheriff's Office in respect of a judgment, as recited in the application's grounds · amount: 1006000 · debtor: Mushimpex Investments Inc. · creditor: Oakwood Designers & Builders Inc. · currency: CAD
- secured creditorsnote: Relates to property at 875 Richmond Rd, Ottawa (Roll No. 0614.094.902.08200.0000); mortgage/status annotation on notice reads 'Tax Arrears Registration'; total includes 2023 arrears carried forward ($245,777.18) plus 2024 interim taxes ($17,719.78). · page: 115 · as of: 2024-02-08 · amount: 263496.96 · debtor: Mushimpex Investments Inc. · creditor: City of Ottawa (property tax arrears) · currency: CAD · security: Municipal property tax arrears - statutory priority lien under the Ontario Municipal Act
- secured creditorsnote: Relates to 336 Tweedsmuir Ave, Ottawa (Roll No. 0614.084.301.41700.0000) - the property subject to this receivership application; notice annotated 'Farm Debt Letter'. A payment stamp dated August 28, 2024 (~$155,686.97, handwritten) appears on the exhibit, suggesting a subsequent payment may have been made against this arrears; status after that payment is not clear from the record. · page: 116 · as of: 2024-05-16 · amount: 152702.13 · debtor: Mushimpex Investments Inc. · creditor: City of Ottawa (property tax arrears) · currency: CAD · security: Municipal property tax arrears - statutory priority lien under the Ontario Municipal Act, on the Tweedsmuir Property itself
- secured creditorsnote: Relates to 539 Broadhead Ave, Ottawa (Roll No. 0614.084.401.60500.0000). · page: 117 · as of: 2024-07-08 · amount: 16372.91 · debtor: Mushimpex Investments Inc. · creditor: City of Ottawa (property tax arrears) · currency: CAD · security: Municipal property tax arrears - statutory priority lien under the Ontario Municipal Act
- secured creditorsnote: Relates to 562 Edison Ave, Ottawa (Roll No. 0614.084.502.16200.0000); notice marked 'Final Collections Notice'. · page: 118 · as of: 2024-07-08 · amount: 18366.06 · debtor: Mushimpex Investments Inc. · creditor: City of Ottawa (property tax arrears) · currency: CAD · security: Municipal property tax arrears - statutory priority lien under the Ontario Municipal Act