Ontario · Receivership (court-appointed)
First Report of the Receiver (for motion returnable November 23, 2022) (2 of 2)
Court officer report · 23 November 2022
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What we verified from this filing7 verified
- secured creditorspage: 24 · debtor: Proper Windsor Holdings ULC · creditor: Business Development Bank of Canada · currency: CAD · security: PPSA registrations (Ontario) covering blanket collateral (consumer goods, inventory, equipment, accounts, other), no dollar amount stated: File No. 703258326 (Loan No. 084694-01, registered January 28, 2015); File No. 703258371 (Loan No. 084694-09, per registering agent reference, renewal registered September 22, 2016); File No. 703258488 (Loan No. 084694-03, registered January 28, 2015)
- secured creditorsnote: Full legal name, amount, and registration particulars of Meridian's security interest are not stated in the excerpted pages · page: 48 · debtor: Cutting Edge Precision Services ULC · creditor: Meridian (equipment financier, PMSI class) · currency: CAD · security: Referenced in the Agreement of Purchase and Sale as holder of a security interest in certain equipment defined as the 'Meridian Financed Assets', which are carved out of the Purchased/Excluded Assets
- secured creditorsnote: Charge listed for discharge/expunging from title on closing of the SGM real property sale per Approval and Vesting Order Schedule C · page: 101 · debtor: SGM Real Estate Holdings ULC · creditor: Business Development Bank of Canada · currency: CAD · security: Charge registered September 28, 2020 (Land Registry Instrument No. CE965703) against 3230 Moynahan Street, Oldcastle, Ontario, securing the sum of $2,500,000 (registered principal, not stated as an outstanding balance); related Notice of Assignment of Rents General (Instrument No. CE965710); also PPSA registrations (Ontario) covering all present and after-acquired personal property (File No. 718351623, registered July 6, 2016, renewed August 17, 2020) and a General Assignment of Rents re the same real property (File No. 718351677, registered July 6, 2016, renewed August 18, 2020)
- secured creditorsnote: TD Bank is also the Applicant/petitioning creditor in this receivership proceeding against Cutting Edge Precision Services ULC, Proper Windsor Holdings ULC and SGM Real Estate Holdings ULC; charge listed for discharge/expunging from title per Approval and Vesting Order Schedule C · page: 101 · debtor: SGM Real Estate Holdings ULC · creditor: The Toronto-Dominion Bank · currency: CAD · security: Charge registered September 1, 2022 (Land Registry Instrument No. CE1099384) against 3230 Moynahan Street, Oldcastle, Ontario, securing the sum of $2,500,000 (registered principal, not stated as an outstanding balance); related Notice of Assignment of Rents General (Instrument No. CE1099385); also a Notice registered January 7, 2022 (Instrument No. CE1054405, amount not stated); also PPSA registrations covering all present and after-acquired personal property (Ontario File No. 722185578, registered November 3, 2016, renewed September 20, 2021; BC Base Registration No. 438137N, PPSA Security Agreement, registered December 20, 2021)
- closing confirmedscope: the Purchased Assets (as defined in the Sale Agreement but excluding the Real Property) · outcome: completed · purchaser: Arlen Tool Co. Inc. · date basis: unstated
- fee scheduleengagements: form: prose · rows: · money: fees: quote: The Receiver's total fees are $146,017.50 · amount: 146017.5 · approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 389.28 · quote: its average hourly rate is calculated to be $389.28 · currency: · invoices: · hours total: quote: its total hours spent is 375.1 · value: 375.1 · context quote: solely in its capacity as the Court-appointed receiver of the real property listed on Schedule 'C' hereto and all the other assets, undertakings and properties of each of the entities listed on Schedule 'D' hereto, and not in its personal capacity or in any other capacity · firm unverified: true
- purchaserArlen Tool Co. Ltd.