RBC Obtains Receivership Order Over Artech Entities

On November 13, 2025, Royal Bank of Canada (“RBC”) obtained an order from the Ontario Superior Court of Justice (Commercial List) appointing The Fuller Landau Group Inc. as receiver over the assets, undertakings and properties of 2058189 Ontario Ltd. (“Artech CNC”) and 1000685746 Ontario Inc. (“Artech” and, together with Artech CNC, the “Artech Entities”) under section 243(1) of the Bankruptcy and Insolvency Act.

RBC’s application was scheduled to be heard on November 13, 2025. In the Endorsement of The Honourable Mr. Justice Myers dated October 16, 2025, the Artech Entities were instructed to retain counsel and deliver responding materials by November 7, 2025. Despite His Honour’s endorsement, no responding materials nor a notice of appearance were filed in response to RBC’s application. With no challenge to the indebtedness and the uncertainty regarding whether the businesses remained operational or whether the collateral was being safeguarded, the court held that a court-supervised receiver was required.

The receiver has broad authority to take possession of and preserve the Artech Entities’ property, operate or wind down any business activities, collect receivables and pursue realization in accordance with its mandate.

Aird & Berlis acted as counsel to RBC with a team including Sanjeev Mitra, Cristian Delfino and Kieran Moloney (Financial Services).