Ontario
Division No, 09
Court No.
15-11
178-000L
IN THE MATTER OF THE RECEIVERSHIP OF
SHAN-KAEL GROUP INC.
OF THE CITY OF VAUGHAN, IN THE PROVINCE OF ONTARIO
Notice and Statement of the Receiver
(Section 245(1) and 246(1) of the Bankruptcy and Insolvency Act)
The Receiver gives notice and declares that:
On November 16, 2015, pursuant to an order of the Ontario Superior Court of
Justice (Commercial List) (the "Receivership Order"), Grant Thornton Limited
was appointed as receiver and manager ("Receiver") of all of the assets,
undertakings and properties of Lance Kotton, Titan Equity Group Ltd., Executive
Leasing Capital Corp., Executive Leasing Inc., Titan 230 Major Mack Inc., Titan
10703 Bathurst Inc., Shan-Kael Group Inc. ("Shan-KaeI", or the "Company"),
Tread Finance Corp., 230 Major Mack Holdings Inc., Titan 10703 Bathurst
Holdings Inc., Titan Real Estate Acquisition & Development Corp., Titan Real
Estate Equities Inc., and 2216296 Ontario Inc. (the "Titan Group"). A copy of the
Receivership
Order
may be found on the Receiver's website at:
www.qrantthornton .ca/titan.
2.
The Receiver commenced safeguarding and taking control of the assets and
books and records of Shan Kael on November 18, 2015.
3.
The Receiver understands that Shan-Kael is the registered owner and manager
of the retirement home known as "Villa Del Sole" located at 7890 Pine Valley
Drive, Woodbridge, Ontario.
Based on our review of the books and records of Shan-Kael, the book value of
the Company's assets is described below:
Asset
Approx. Value
Current Assets
$352,473
Real Property
$16,579,233
Other Assets
Unknown
5.
Notwithstanding the above book values, the Receiver has not yet been able to
ascertain the fair market value of the assets.
6.
The following information relates to this receivership:
Head Office Address
Principal Line of
Locations of
_____________________
Business
Business
2501 Rutherford Road,
Real estate investment,
7890 Pine
Suite 33-36, Vaughan,
acquisition and
Valley Drive,
ON
development
Woodbridge,
______________________ _______________________
Ontario
7.
PPSA searches were conducted on the Company and identified the following
registrations. No acknowledgement is made by the Receiver concerning the
amounts owing or the security claimed.
Names of Secured Parties
Foremost Mortgage Holding
Corporation et al.
Executive Leasing Inc.
8.
A list of creditors of the Company is attached hereto.
9.
The intended plan of action of the Receiver is to realize on the Titan Group's
property by listing the real property for sale and/or such other means to maximize
the overall value of the Titan Group's property. Additionally, the Receiver intends
to conduct a Court approved claims process and distribute the funds to the
impacted stakeholders with the authority of the Court.
10.
Contact for the Receiver:
Jennifer Kwon
Telephone:
416-360-4167
Email:
titangroup©ca.gt.com
Fax:
416-360-4948
Dated at Toronto, Ontario this
24thday of November, 2015.
GRANT THORNTON LIMITED
its capacity as Court-Appointed Receiver of Titan Group
and not in its personal or corporate capacity
JohatIn Krieger, CPA, CA, CIRP
StniIr Vice-President
Grant Thornton Limited Claims Register In the matter of the receivership of
Shan-KaeI Group Inc.
of the City of Concord, in the Province of Ontario
Insolvency Date: 1 6-Nov-20 15 Estate Number:
Creditor Name
Secured creditors
1.
Executive Leasing Inc. 2501 Rutherford Road, Suite 33 Vaughan ON L4K 2N6
2. Foremost Mortgage Holding Corporation el al 718 Wilson Avenue, Suite 500
Toronto ON M3K 1E2 3. Shan-Kael PMI Investors
Proof of
Claim Status Rank /
SOA
Amount
Admittedfor
Claim?
Class
Amount
Filed
Dividend
2,000,000.00 6,050,000.00 3,506,022.00 No No No Unsecured creditors
Total: Secured creditors 11,556,022.00
1. 2076245 Ontario Inc. C/O Maria Santos No 116,544.00
821 Wingarden Crescent Pickering ON L1V 0C2 2. Albert Laboni No 150.00 156 Katherine Rd. Toronto ON M3K 1J7 3. Antonella Di Leo No 618.90 Antonella Di Leo
4. ASupreme Nursing and Homecare No 845 Wilson Avenue # 103
Toronto ON M3K 1E6
5. B.O.S. Cleaners Inc. No
74 Twinberiy Crest Woodbridge ON ML 3X6
6. Barzula Café do Torrefazione Barzula & Importing No Limited
3117 Wharton Way Mississauga ON L4X 2B6
7. Batcher, Wasserman No 142,746.24
718 Wilson Avenue, Suite 500 Toronto ON M3K 1E3
8. Burrell Overhead Door Ltd. No 205.66
1853 Highway 7 Vaughan, ON Vaughan ON MK 1V4
9. Canada Revenue Agency No 1.00
Attn: Attn: Bankruptcy Dept. 1 Front Street West
Suite 100
Toronto ON M5J 2X6
10. Canamex Dry Wall No 13,526.78
66 Mill St.
Georgetown ON L7G 3H7
11. Cardinal Health Canada do T10284C No 446.90
P0 BOX 4918 STN, A Toronto, ON Toronto ON M5W 0C9 2,610.70 58,402.75 1,047.68
November 26, 2015
Page 1/5
Claims Register for Shan-Kael Group Inc. - Continued
Proofof Claim Status Rank/ SQA Amount Admittedfor
Claim? Class Amount Filed Dividend
12. City ofVaughan-SK#12500 NO 58,003.94
Tax Accounts P.O.Box 3500 Vaughan ON L4K 5N3
13. Di Manno Bakery No 25,694.87
10 Buttermill Ave. Concord ON L4K 3X4
14. Dignity Transportation Inc. No 304.67
900 Magnetic Drive Toronto ON M3J 2C4
15. Diva Diverse Inc. No 678.00
777 Warden Aye, Unit 201 Toronto ON M1L 4C3 16. Dr. Donato Spensierl No 1,785,60 4600 Highway 7 Suite 205 Woodbridge ON L4L 4Y7 17. Ecolab No 1,902.23 P.O. Box 2010 Mississauga ON L4T 4H6 18. Employees No 1.00 19. Enbridge No 2,029.36 P.O Box 644 Scarborough ON M1K 5H1
20. Estate of Ruth Ridolfo No 3,110.31
Estate of Ruth Ridolfo
21. Eye-View Drain Services Ltd. No 678.00
980 Alliance Road Unit #2 Pickering ON LIW 3M9
22. Foremost Mortgage Holding Corporation, Teib No 6,050,000.00 Mortgage Holding Corporation
do Harvey Mandel, Barrister & Solicitor
55 Queen Street East, Ste 203
Toronto ON M5C 1R6
23. Forever Green Lawn & Landscape Inc. No 4,043.52
150 Clark Blvd. Suite 218 Brampton ON L6T 4Y8
24. Home Depot No 7,064.39
P.O Box 4609 Station A Toronto ON M5W 4Z5 25. Hummingbird No 161,001.80 8800 Dufferin St., Suite 301 Vaughan ON L4K 0C5 26. HVAC Service No 1,497.66 8886 5th Side Road, R.R. #3 Everett ON LOM hO
27. Ironstone Entrance Technologies Inc. No 180.80
183-1063 King Street West Hamilton ON L8S 4S3
28. Mammone Disposal System Limited No 355.95
8940 Jane Street Vaughan ON L4K 2M9 29. Mancuso Paving Ltd. No 2,542.75 64 Shaft Road Toronto ON M9W 4M2 November 26, 2015 Page 2 / 5
Insolvency Date: 16-Nov-20 15 Estate Number:
Claims Register for Shan-Kael Group Inc. - Continued
Insolvency Date: 1 6-Nov-20 15Estate Number:
Proof of
Claim Status Rank /
SOA
Amount
Admittedfor
Claim?
Class
Amount
Filed
Dividend
30. Ministry of Finance(EHT) No 1,00
Attn: Collections Branch 33 King Street West Box 640
Oshawa ON L1H 8H5
31. Mircom / Gardia (Toronto) Inc. No 5,364.39
25 Interchange Way Vaughan ON L4K 5W3 VO 106-0 1-MIR
32. Mircom Canada (Mircom Technologies Ltd.) No 2,271.20
25 Interchange Way Vaughan ON L4K 5W3
33. Organic Resource Managment Inc. No 808.55
3700 Steels Ave. West, Suite 601 Woodbridge ON L4L 8K8
34. Otis Canada Inc. No 2,141.93
1655 The Queensway East
Mississauga ON L4X 2Z5
35. Powerstream No 17,672.17
P.O Box 3700 Concord ON L4K 5N2
36. Pure Wireless Consulting No 1,000.00
14-3650 Langstaff Rd. Suite 102 Woodbridge ON ML 9A8
37. Rogers 239-230344208 No 3,100.72
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
38. Rogers 6-5767-2838 No 158.07
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
39. Rogers 6-5867-4 106 No 34.02
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
40. Rogers 6-5867-530 1 No 451.35
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
41. Rogers 6-5867-6648 No 188.12
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
42. Rogers 6-5 868-5470 No 65.83
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
43. Rogers 6-5868-5490 No 723.05
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
44. Rogers 6-5868-7355 No 201.58
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
45. Rogers 6-5953-4994 No 42.73
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
46. Rogers 6-6648-7 152 No 269.14
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
Creditor Name
Claims Register for Shan-Kael Group Inc. - Continued
Insolvency Date: 1 6-Nov-20 15Estate Number:
Creditor Name
47.Rogers 7-0020-4928 Rogers P.O. Box 9100 Don Mills ON M3C 3P9 48. Rogers 7-0654-7064
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
Proof of
Claim Status Rank /
SOA
Amount
Admittedfor
Claim?
Class
Amount
Filed
Dividend
No 9.18
No 228.03
49. Rogers 7-0654-798 1 No 189.23
Rogers P.O. Box 9100 Don Mills ON M3C 3P9
50.
Royal Alarms Ltd. No 966.15 P.O. Box 263 Concord ON L4K 1B4 51. SafetyMedialnc. No57.75
10 Meteor Dr. Toronto ON M9W 1A4 52. SBlWoodworking No 47,375.25 57 Ashwood Cres. Brampton ON L6T 1M1 53. Sean Chubbuck No 457.65 22 Balson Blvd. Stouffville ON L4A 7X3 54. Shan-Kael-Promissory Notes No 858,852.00 55. Shan-Kael-Tread Notes No 2,506,022.00 56. SNAP Woodbridge No 1,785.4014-3650 Langstaff Road, Suite #128 Woodbridge ON L4K 9A8
57. Sun-Brite Drapery No 855.20
7695 Jane St. Unit 11 Concord ON Concord ON L4K 1A8
58. Technical Standards and Safety Authority No 220.35
14th Floor, Centre Tower 3300 Bloor St. West Toronto ON M8X 2X4
59. The Gardener Landscape Maintenance No 1,428.72
14-3650 Langstaff Road, Suite 111 Woodbridge ON ML 9A8
60. Trimen No 1,599.61
1240 Ormont Drive Toronto, ON, Toronto ON M9L 2V4
61. Unique Care No 183.06
69 Collard Drive King City, ON King City ON L7B 1E4 VDSOO1
62. Universal Care No 16,950.00
10500 Duliferin St. Maple ON L4A 4R1
63. Villa Colombo Vaughan No 127.60
10443 Hwy 27
Kleingburg ON LOJ 1CO
64. Waste Management No 444.20
1100, 700 6 Avenue SW Calgary AB T2P 0T8 UNC000003
65. Westport Manufacturing Co.,Ltd. No 1,017.00
1122 S.W. Marine Drive Vancouver BC V6P 5Z3
Claims Register for Shan-Kael Group Inc. - Concluded
Insolvency Date: 1 6-Nov-20 15Estate Number:
Creditor Name
66. Workplace Safety & Insurance Board P.O Box 4115 Station A Toronto ON Toronto ON M5W 2V3
5441859
67.Zeifmans LLP
201 Bridgeland Avenue Toronto, On Toronto ON M6A 1Y7
Proof of
Claim Status Rank /
SOA
Amount
Admittedfor
Claim?
Class
Amount
Filed
Dividend
Grand Total: 21,693,384.86
No 88.67
No 6,836.50
Total: Unsecured creditors 10,137,362.86