1000193106 Ontario Incorporated, Receivership

1000193106 Ontario Incorporated, the owner of an Esso-branded gas station and convenience store at 8396 Wellington Road 124, Guelph, Ontario, was placed in receivership on March 18, 2025, on application by BMO, owed approximately $2.9 million.

The borrower failed to make principal and interest payments in August and September 2024, ceased operating the gas station and store, and left the commercial premises boarded up and dormant.

Liquidity problems were attributed to unrelated losses, including a robbery at another gas station operated by the principals, personal expenses related to a family wedding, and loans to relatives. Additionally, a residential tenant at the property had not paid rent for nearly two years. Safety and environmental risks associated with the dormant gas station further heightened the applicant’s concerns.

Rosen Goldberg was appointed receiver.

Counsel is Chaitons for the applicant.