January 18, 2021
Advantagewon Capital Corp., a London, Ontario-based company in the business of providing consumer auto repair loans to individuals, was placed in receivership on January 18 on application by FMMC Private Yield Fund Limited Partnership I ("FMMC"), owed approximately $3.3 million. Following various defaults by the company on its obligations under its credit facilities and security arrangements with FMMC, the applicant demanded repayment of the company's indebtedness. The company, which has not yet made any payments to satisfy FMMC's demand, has discussed a potential sale of the company's assets to Dorsia Capital (London) Inc. Link & Associates was appointed receiver. Counsel is Fogler, Rubinoff for the applicant, Aird & Berlis for the receiver, and Siskinds for the proposed purchaser.