Ontario · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 22 May 2024
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What we verified from this filing7 verified
- secured creditorsnote: Demand for payment issued September 5, 2023 for $7,222,321.53 inclusive of interest and costs, along with Notices of Intention to Enforce Security under s.244(1) BIA. RBC Mortgage principal of $8,288,000 is the registered principal, not the outstanding balance. Personal guarantee obtained from Blake Larsen (director/guarantor). · page: 8 · as of: 2023-09-05 · amount: 7222321.53 · debtor: Maxx Properties (No. 323) Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement (GSA); first ranking charge/mortgage on Real Property, principal amount $8,288,000 (RBC Mortgage); guarantee from Blake Larsen
- secured creditorsnote: Amount listed is registered principal amount, not confirmed outstanding balance. · page: 9 · debtor: Maxx Properties (No. 323) Ltd. · creditor: Lift Capital Incorporated, Michael Awad, and Howard Awad (Second Mortgagees) · currency: CAD · security: Second mortgage registered against Real Property June 17, 2022, Instrument No. AT6109137 (Lift Capital Charge), principal amount $1,350,000
- secured creditorsnote: Serialized equipment financing registration; no amount stated. · page: 9 · as of: 2017-05-03 · debtor: Maxx Properties (No. 323) Ltd. · creditor: 9013-6573 Quebec Inc. · currency: CAD · security: PPSA financing statement registered May 3, 2017 in specific equipment (File Number 727251516)
- closing confirmedscope: the Real Property · outcome: not_completed · effective: 2024-03-08 · purchaser: Amar Jwedah (company to be incorporated) · date basis: stated
- purchaserAmar Jwedah (company to be incorporated)
- sale advisorAvison Young Commercial Real Estate Services
- sale outcometext: The pre-appointment APS did not close and is no longer proceeding; the Receiver is now seeking approval of a listing agreement and sales and marketing process for the Real Property. · scope: whole_business · status: process_approved