Ontario · Receivership (court-appointed)

First Report of the Interim Receiver

Court officer report · 21 May 2020

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 filing3 verified

secured creditorsnote: Applicant in interim receivership application; described as one of the Company's general secured creditors; no balance stated · page: 4 · debtor: Eveley International Corporation · creditor: Canadian Equipment Finance & Leasing Inc. (CEFL) · currency: CAD · security: General security (loans referred to as 'CEFL 1&2 loan documents')
unsecured creditorsnote: Document names no individual creditors; a later balance of $514,613 as at April 30, 2020 (inclusive of $283,000 owed to 2565968 Ontario Inc.) was also referenced but is a different, later date · page: 70 · as of: 2020-03-31 · basis: Accounts payable aging as at March 31, 2020, as reported by the Company · amount: 764975 · debtor: Eveley International Corporation · creditor: Suppliers/trade creditors (accounts payable, aggregate as reported) · currency: CAD
secured creditorsnote: Loan amount stated in negotiations to repay; predicted interest rate 10% per annum assumed; also acted as landlord (Former Landlord) separately; unclear if secured but referenced as lender with formal deferral agreement · page: 71 · as of: financial forecast preparation date (mid-May 2020) · amount: 1000000 · debtor: Eveley International Corporation · creditor: 2565968 Ontario Inc. · currency: CAD · security: Promissory Note