Ontario · Receivership (court-appointed)
APPLICATION RECORD (G GROUP) 23-Oct-2025 (1)_Part5_compressed
Application / notice of application · 23 October 2025
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 filing1 verified
- secured creditorsnote: Total indebtedness stated in Notice of Intention to Enforce Security (s.244 BIA) and demand letter, comprising: Loan 8312 Acquisition Facility principal $93,242,693.92 + interest $43,004,589.79; Loan 8312 Construction Facility principal $43,667,145.41 + interest $2,312,351.86; Loan 83121 LC Facility principal $1,861,000.00 + interest $421,484.64; Supplement 4 Fee $605,338.37; legal fees (Blakes $77,331.30; Dickinson Wright $13,256.65 excl. fees since Aug 29, 2025); inspection expenses $27.00; O'Keefe and Associates fees $78,816.00; statement fees $847.50 (components not summed here per document breakdown, total as stated). A prose approximation of principal-only indebtedness of $138,770,839.33 (plus interest, fees and costs) appears in the demand letter body; the exact dated total above supersedes it. Debtor and Guarantors (G Group Development Corp., G Group Management Inc., 2217439 Ontario Inc., Thornrich Investments Ltd., Guizzetti Corporation, Stefano Guizzetti, and Giocomo (Jack) Scivoletto) are jointly and severally liable and the corporate/individual Guarantors also granted the General Security Agreement. Stefano Guizzetti and Giocomo (Jack) Scivoletto are personal guarantors (individuals, not companies). · page: 92 · as of: 2025-09-30 · amount: 185284882.44 · debtor: G Group 5220 Yonge Ltd. · creditor: Romspen Investment Corporation · currency: CAD · security: Commitment Letter dated October 17, 2013 (as amended); Charge Instrument No. AT3438332 (registered Oct 25, 2013, as amended by AT5214399 and AT5817321); Assignment of Rents-General (AT3438333); Charge Instrument No. AT5951130 (Dec 31, 2021); Charge Instrument No. AT5951169 (Dec 31, 2021); Assignment of Rents-General (AT5951170, Dec 31, 2021); General Security Agreement dated November 3, 2021 granted by the Debtor and Guarantors (all-property/PPSA-type blanket security); registered against the real property municipally known as 5220 Yonge Street, Toronto (multiple PINs, including condominium units)