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Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
Satisfied Customers: 2263
Experience:  25 years in practice
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My company(###) ###-####Ontario Limited o/a Special Edition

Customer Question

My company(###) ###-####Ontario Limited o/a Special Edition Marketing took out loans with BDC on August 2011.Due to depressed pricing in the produce business that has not been seen in the last 25 years we had to close our business on October 12, 2012. I worked diligently with BDC to sell all equipment and Building and land. I presented a buyer for the property for $995,000 and because BDC was lax in filing a 45 notice of sale to the third mortgagee the buyer backed off and BDC ended up giving away the building 6 months later for $825,000 minus expenses. They also threw in equipment and Cooler/Chiller system which we had buyers for in the amounts of $80,000 for a tomato line and $60,000 for a chiller/cooler system that they left the in building. I was served with a Statement of Claim on March 13, 2013 for $316,999.93 without deductions for the sale of the building and equipment. There was no correspondence from BDC until Mar. 2015 at which time they stated that I now owed $156,000. We constantly asked for an accounting of where the monies were applied and still have not had the courtesy of such information. We have since presented them with our accounting and where it should be with a date for examination set for June 22, 2015. I have never shirked on my responsibility to realize on the assets from October 12, 2012 but BDC has not provided Exemplary Service nor a High Standard of Conduct as they promote on their website, rather the actions have been disgraceful and very costly to me to the point that it has affected my health tremendously and placed me in a very poor financial situation. The Court File # ***** ***** and my lawyer is Jeff XXXXXX from the firm of XXXXXXXXXXXXXXXXX in Windsor- email:XXXXXXXXXXXXXXXXXXXXX and his phone number is:XXX XXX XXXX. I would appreciate a full investigation in this matter. I will await your response.
Many thanks,
Submitted: 2 years ago.
Category: Canada Law

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