Ontario · Receivership (court-appointed)
Application Record - 627493 NB and The Bold Corporation - 25-AUG-2025
Application / notice of application · 25 August 2025
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What we verified from this filing11 verified
- applicantCANADIAN IMPERIAL BANK OF COMMERCE
- commencement date25 August 2025
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00002356-0000
- provinceONTARIO
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act, and section 101 of the Courts of Justice Act
- appointeeBDO Canada Limited
- appointee roleProposed Receiver
- secured creditorsnote: Priority Agreement dated September 6, 2021 postponed and subordinated BDC's security to CIBC's security to the extent of the debtor's indebtedness to CIBC; balance not stated · page: 27 · debtor: In-Lite Design Corporation / 627493 N.B. Corporation · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: PPSA registration against In-Lite, registered March 12, 2018 and renewed May 10, 2021; also registered against 627 in New Brunswick on August 7, 2025
- secured creditorsnote: Guarantee limit, not a stated balance; EDC listed as guarantor on service list · page: 28 · debtor: 627493 N.B. Corporation · creditor: Export Development Canada (EDC) · currency: CAD · security: Guarantee of 627's debts to CIBC, limited to CDN $9,037,500 per January 29, 2024 amendment to Credit Agreement
- secured creditorsnote: Total indebtedness comprised of CDN Revolving LOC CAD$6,377,488.03, USD Revolving LOC USD$3,729,058.52, CDN Term Loan CAD$83,768.51, USD Term Loan USD$315,660.21, plus legal fees CAD$12,555.32 and accruing per diem interest; USD converted at CIBC Advised Rate CAD/USD=1.40; guaranteed by Ramon Pieters (unlimited, personal guarantor) and The Bold Corporation (unlimited guarantee and security agreement, related party) · page: 237 · as of: 2025-07-29 · amount: 12136418.08 · debtor: 627493 N.B. Corporation · creditor: Canadian Imperial Bank of Commerce (CIBC) · currency: CAD · security: Security Agreement over all present and after-acquired personal property of In-Lite/627 (PPSA reg. Nov 30, 2021, No. 20211130 1233 1219 4594; also registered against 627 and in New Brunswick April 2, 2025); Bold Security Agreement dated Sept 16, 2024 (PPSA reg. Sept 27, 2024, No. 20240927 1350 1532 3725) over Bold's personal property; Credit Agreement dated Dec 21, 2023