Facts: RBC sought to appoint a Receiver for the assets of 2531961 Ontario Inc., TNT International Leasing Inc., 24Hr. Kitchens Inc., and Melania Augustin due to an event of default under the security documents. The debtors did not contest this right but requested an extension due to a potential financing deal.

Issues:

• Whether it was just and convenient to appoint a Receiver.
• Consideration of the debtor's request for an extension due to pending financing.

Court's Ruling: The court appointed Fuller Landau as Receiver, considering the debtor's repeated failures to fulfill financial obligations and lack of transparency and cooperation with the court-appointed Monitor. The court found the appointment just and convenient, noting RBC's patient approach and the debtor's continued non-compliance and lack of concrete evidence regarding the alleged new financing.

Costs/Damages: The court’s decision did not specify the immediate costs or damages but focused on the appointment of the Receiver to manage the debtors' assets and undertakings, indicating a structured approach to resolving the financial default and considering future financing possibilities.