Ontario · Receivership (court-appointed)
Application Record - Volume 1
Application / notice of application · 3 February 2025
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What we verified from this filing9 verified
- applicantWaygar Capital Inc., as agent for Ninepoint Canadian Senior Debt Master Fund LP
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00734870-00CL
- provinceONTARIO
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- commencement date14 January 2025
- secured creditorsnote: Amount owing for principal and interest under the WIN Credit Agreement and the Elmo Guarantee combined, as of Demand Letter date Dec 27, 2024, plus accruing costs/expenses/interest; Elmo Guarantee limited to $15 million · page: 12 · as of: 2024-12-27 · amount: 47193111.56 · debtor: Waterloo Innovation Network 2 Inc. · creditor: Waygar Capital Inc., as agent for Ninepoint Canadian Senior Debt Master Fund LP · currency: CAD · security: General security agreement (Sept 7, 2018) from WIN2; First WIN Charge (Instrument WR1137400, registered principal ceiling increased to $30,000,000) on Real Property; Second WIN Charge (Instrument WR1515962, registered principal $15,000,000, June 26, 2023) securing WIN2's limited Elmo Guarantee; Notices of Assignment of Rents (WR1137401 and WR1515963)
- secured creditorsnote: Amount is principal, interest and certain fees owing under the WIN Credit Agreement as demanded in the Demand Letter of Dec 27, 2024, plus accruing costs/expenses/interest; NOI (BIA s.244) accompanied demand · page: 12 · as of: 2024-12-27 · amount: 32193111.56 · debtor: Waterloo Innovation Network 3 Inc. (formerly Waterloo Innovation Network Inc.) · creditor: Waygar Capital Inc., as agent for Ninepoint Canadian Senior Debt Master Fund LP · currency: CAD · security: General security agreement (Sept 7, 2018) from WIN; charge/mortgage (Instrument WR1137400) originally registered Sept 7, 2018 for principal $8,000,000, increased by successive amendments to a registered principal ceiling of $30,000,000 (First WIN Charge) granted by WIN2 on 176 Columbia Street West, Waterloo; Notice of Assignment of Rents (Instrument WR1137401)
- secured creditorsnote: Second (subsequent) PPSA registrant against both Debtors; Lender (Waygar/Ninepoint) is first registrant against all collateral classifications other than consumer goods; no intercreditor agreement in place; balance not stated · page: 16 · debtor: Waterloo Innovation Network 2 Inc. and Waterloo Innovation Network 3 Inc. · creditor: Wags Investments Incorporated · currency: CAD · security: PPSA registration against all collateral (other than consumer goods)