Ontario · Receivership (court-appointed)
Application Record of the Applicant
Application / notice of application · 17 August 2026
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 filing12 verified
- applicantTHE TORONTO-DOMINION BANK
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00003351-0000
- statutory basissubsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- appointeeMNP LTD.
- appointee roleProposed Receiver
- commencement date11 December 2025
- secured creditorsnote: Registered after the Bank's PPSA registration; no amount stated. · page: 15 · debtor: 2516561 Ontario Inc. · creditor: Joan Thompson, Ben Lasko, 2166973 Ontario Inc., 2166974 Ontario Inc., Terri Nikolaevsky, Arnold Rabin, Sylvia Bobkin, Sherri Kowall, Dina Segal, Canoram International Trading Company Limited, and 1445977 Ontario Inc. · currency: CAD · security: PPSA financing statement registered October 18, 2019 over accounts and other, in respect of a General Assignment of Rents relating to 150 Liberty St. S., Bowmanville, ON
- secured creditorsnote: PPSA equipment financier (PMSI class); registered after the Bank's PPSA registration as of January 6, 2025; no amount stated. · page: 15 · debtor: 2516561 Ontario Inc. · creditor: Mercedes-Benz Financial Services Canada Corporation · currency: CAD · security: PPSA financing statement registered August 1, 2024 over equipment/other/motor vehicle included, in respect of a 2024 Mercedes-Benz GLE450
- secured creditorsnote: The $40,000 is the stated amount of the registered charge, not a stated outstanding balance. The document states no balance owing to these second mortgagees. · page: 15 · debtor: 2516561 Ontario Inc. · creditor: 2408034 Ontario Inc., 2408021 Ontario Inc. and Shtein Holdings Inc. (second mortgagees) · currency: CAD · security: Charge/Mortgage registered June 26, 2024 as instrument DR2327476 in the amount of $40,000
- secured creditorsnote: Amount is the total outstanding stated in the Samara affidavit chart (page 45-46) as of August 13, 2026. It includes the unsecured $59,916.63 CEBA component, so the secured portion is lower; components per the chart: CSBFA Loan $674,929.86; Visa $4,275.34; line of credit nil; CEBA $59,916.63; realty tax arrears $168,748.25. The $168,748.25 was paid by the Bank to the City of Oshawa (cancellation price, March 18, 2025) and is claimed as secured by the Charge. Bank obtained default judgment June 21, 2024; demand letters dated September 5, 2023 then totalling approximately $950,000 (an amended notice of application revises this to $630,000); only $23,974.98 paid after judgment (one version of the notice says no payments). Loan in default since February 2023. The Bank also holds PPSA registration prior to all others. · page: 45 · as of: 2026-08-13 · amount: 907870.08 · debtor: 2516561 Ontario Inc. operating as Oshawa Kingsway Motel · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated August 11, 2016; Charge/Mortgage in principal amount of $943,500 registered August 19, 2016 as instrument DR1507230 against 695 King St E, Oshawa; Standard Charge Terms No. 8520; personal guarantees (Nisha, Samit, Bhartiben, Pravinchandra S. Patel and Pushpaben Patel), jointly and severally, limited to $235,875 on the Loan and unlimited on the other facilities. Original facility amounts: CSBFA Loan $943,500 principal (original advance, not a balance); $20,000 overdraft; $5,000 Visa.
- unsecured creditorsnote: Outstanding amount per the affidavit chart (page 46); $60,000 original advance, accrued interest $188.19. The Sept 5, 2023 CEBA demand was for $40,000. Interest at 5% began accruing January 1, 2024. Immediately due on events of default including insolvency. · page: 46 · as of: 2026-08-13 · basis: Canada Emergency Business Account Term Loan; affidavit states it was advanced on an unsecured basis and not guaranteed · amount: 59916.63 · debtor: 2516561 Ontario Inc. · creditor: The Toronto-Dominion Bank (CEBA Loan) · currency: CAD