Ontario · Receivership (court-appointed)
Application Record of DUCA dated January 24, 2024
Application / notice of application · 24 January 2024
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What we verified from this filing3 verified
- secured creditorsnote: Debt of CA$6,613,547.65 is inclusive of interest to December 12, 2023, plus further interest, fees and costs accruing thereafter, combining the 2017 Credit Facility ($1,300,000 limit) and 2021 Credit Facility ($5,810,000 limit / commitment). Guaranteed personally by Dr. Ciro Adamo (director) via unlimited guarantees dated July 12, 2017 and November 9, 2021 (personal guarantor, not a company). · page: 16 · as of: 2023-12-12 · amount: 6613547.65 · debtor: West Eglinton Medical Centre Ltd. · creditor: DUCA Financial Services Credit Union Ltd. · currency: CAD · security: General Security Agreement dated November 9, 2021; Charge/Mortgage on Real Property (Instrument No. AT5927866) in the amount of $5,810,000.00 registered December 2, 2021; Notice of Assignment of Rents-General (Instrument No. AT5927867); LOC Security Agreement dated July 12, 2017 (pledge of Collateral Account, limited to $1,300,000); PPSA registrations against West Eglinton and Dr. Adamo
- secured creditorspage: 18 · as of: 2022-10-24 · amount: 2300000 · debtor: West Eglinton Medical Centre Ltd. · creditor: Pharmmed Construction Ltd. · currency: CAD · security: Construction Lien (Instrument No. AT6207859) registered against the Real Property pursuant to the Construction Act, R.S.O. 1990
- secured creditorsnote: West Eglinton may have since paid these arrears, per DUCA's recent information (as of November 24, 2023 default review); status uncertain. · page: 18 · as of: 2023-11-10 · amount: 112717.97 · debtor: West Eglinton Medical Centre Ltd. · creditor: City of Toronto - Revenue Services · currency: CAD · security: Municipal property tax arrears (statutory lien)