Ontario · Receivership (court-appointed)
Application Record Returnable March 19, 2018
Application / notice of application · 9 March 2018
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 filing8 verified
- applicantB. & M. HANDELMAN INVESTMENTS LIMITED, E. MANSON INVESTMENTS LIMITED, BAMBURGH HOLDINGS LIMITED, 4055845 CANADA INC., JEFFREY GERTNER, 5K INVESTMENTS INC., 558678 ONTARIO LIMITED and PAUL HERBERT PROFESSIONAL CORPORATION INC.
- courtONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-18-593698-00CL
- statutory basisSection 243 of the Bankruptcy and Insolvency Act, R.S.C 1985, c. B-3, and Section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43
- commencement date9 March 2018
- secured creditorsnote: Applicants collectively hold first mortgage and GSA; approximate total owed under the Loan as of demand letter date · page: 5 · as of: 2018-01-24 · amount: 2855972.83 · debtor: Skymark Properties I Corporation · creditor: B. & M. Handelman Investments Limited, E. Manson Investments Limited, Bamburgh Holdings Limited, 4055845 Canada Inc., Jeffrey Gertner, 5K Investments Inc., 558678 Ontario Limited and Paul Herbert Professional Corporation Inc. (the Mortgagees) · currency: CAD · security: First mortgage, general assignment of rents, and general security agreement against Skymark; original loan advance of $3.3 million pursuant to Commitment Letter dated November 6, 2014
- secured creditorsnote: Amount of second mortgage not stated in document · page: 7 · as of: 2015-04-27 · debtor: Skymark Properties I Corporation · creditor: 2455657 Ontario Corporation · currency: CAD · security: Second mortgage registered against title to the Property on April 27, 2015
- secured creditorsnote: Tax certificate figure; also described in prose as 'in excess of $375,000' · page: 13 · as of: 2018-01-19 · amount: 376256.73 · debtor: Skymark Properties I Corporation · creditor: City of Toronto (realty taxes) · currency: CAD · security: Realty taxes, interest and penalties owing in connection with the Property (municipal tax arrears, priority lien)