Ontario · Receivership (court-appointed)
Application Record returnable July 18, 2025
Application / notice of application · 18 July 2025
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What we verified from this filing3 verified
- secured creditorsnote: Loan agreements dated July 10, 2020 and March 31, 2021 totalling $779,500 original principal (Loan 1 $399,500; Loan 2 $380,000). Per-loan outstanding balances as of May 29, 2025: Loan 723697 PR1 $398,146.70 (+$105.41/day interest) and PR2 $342,557.71 (+$34.23/day interest), stated table total $740,704.41; same paragraph also asserts an aggregate total of $871,188.61 as of the same date (internal inconsistency in the document). Formal demand and NITES issued June 3, 2024 for $709,614.49 (expired June 13, 2024). As of application date, monthly-payment arrears exceed $53,000. As of May 26, 2025, no other secured creditors have PPSA registrations against the Debtor per the applicant. · page: 12 · as of: 2025-05-29 · amount: 740704.41 · debtor: 2760831 Ontario Inc. · creditor: Caisse Desjardins Ontario Credit Union Inc. · currency: CAD · security: First-ranking mortgage, principal $380,000.00, on Windsor Property (469-471 Pelissier St., Windsor); First-ranking mortgage, principal $399,500.00, on Sudbury Property (381 Leslie St., Sudbury); Notices of assignment of rents on both Properties; Guarantees and postponements of claim of Nandan Fozdar (personal guarantor) dated March 31, 2021 for entirety of indebtedness
- secured creditorsnote: Regulatory/municipal tax-arrears class with statutory priority over mortgage security. Earlier arrears of $92,961.62 stated as of April 18, 2024 and a tax arrears certificate registered September 21, 2022; Caisse paid $114,068.35 to the City on the Debtor's behalf around October 3, 2024 to prevent a tax sale. Figure of $23,320.99 is a further/subsequent arrears amount stated without a specific date in the application. · page: 13 · amount: 23320.99 · debtor: 2760831 Ontario Inc. · creditor: City of Greater Sudbury (Tax Department) · currency: CAD · security: Statutory municipal property tax lien on Sudbury Property, ranking in priority to Caisse's mortgage security
- secured creditorsnote: Regulatory/municipal tax-arrears class with statutory priority over mortgage security. Earlier arrears of $24,159.39 stated as outstanding since 2021 (tax certificate dated April 23, 2024). Figure of $37,873.70 is a later/confirmed arrears amount stated without a specific date in the application. · page: 13 · amount: 37873.7 · debtor: 2760831 Ontario Inc. · creditor: The Corporation of the City of Windsor (Office of the City Treasurer) · currency: CAD · security: Statutory municipal property tax lien on Windsor Property, ranking in priority to Caisse's mortgage security