December 14, 2022

Filing Type:

Company Counsel: Mand Rai

Trustee: Albert Gelman

Applicant: 2046245 Ontario Inc., 2222228 Ontario Inc., 2473560 Ontario Inc. and 2473441 Ontario Inc. (collectively, the "Lenders")

Applicant Counsel: Keyser Mason Ball

Industry:

Province:

2244039 Ontario Inc. and 1526400 Ontario Inc., each of which owns and operates a gas station together with ancillary services and a quick service restaurant in Brampton and Caledon, Ontario respectively, were placed in receivership on December 14, on application by 2046245 Ontario Inc., 2222228 Ontario Inc., 2473560 Ontario Inc. and 2473441 Ontario Inc. (collectively, the "Lenders"). The Lenders provided financing in the cumulative amount of $14,550,000 to the companies. The companies have defaulted on their payment obligations under the loans, and owe approximately $15.3 million to the Lenders as at October 21. Albert Gelman was appointed receiver. Keyser Mason Ball is counsel for the Lenders and Mand Rai is counsel for the companies

By Dina Milivojevic