CarCap Inc.

On December 14, 2011 the Ontario Superior Court of Justice (Commercial List) issued an order (the "Order") to appoint BDO Canada Limited as the Receiver of the Assets of CarCap Inc. and Car Equity Loans Corp (collectively "CarCap"). In addition, the Order has authorized the Receiver to market and sell such assets.

INTERESTED PARTIES ARE INVITED TO REGISTER to receive notice, by e-mail, when additional documents are posted to this web site. Copies of Orders, Reports and other pertinent information may be accessed via the sidebar links at any time. Updates, including all relevant orders issued by the Court, have been and will be posted as they become available and notice of the new posting will be sent, by e-mail, to all registered creditors.

BDO Canada Limited, in its capacity as Receiver of CarCap is inviting offers for the purchase of the going concern business and assets of CarCap.

Court Orders and Filings

Discharge:

• Discharge Order of Justice Cumming - May 8-12
• Endorsement of Justice Cumming - May 8-12

Approval of Sale:

• Order of Justice Spence - March 13-12
• Endorsements of Justice Spence - Mar 13-12
• Issued Approval and Vesting Order - March 13-12
• Receiver's Certificate

Extension of Offer Deadline:

• Extension Order - Jan 5-12
• Extension Endorsement - Jan 5-12

Notice of Receivership:

• Notice of Receivership - CarCap Inc. - Dec 23-11
• Notice of Receivership - Car Equity Loans Corp. - Dec 23-11

Initial Application:

• Reasons for decision of Mesbur J (Heard Dec 14-11; Released Jan 5-12)
• Receivership Order - Dec 14-11
• Endorsement of Mesbur J - Dec 14-11
• Affidavit of Eric Inspektor - Dec 14-11
• Supplementary Application Record (Affidavit of Sam Fleisher) - Dec 13-11
• Affidavit of Eric Inspektor - Dec 12-11
• TD Responding Record - Dec 8-11
• Application Record - Dec 6-11

Sale Process

REQUEST FOR OFFERS TO PURCHASE THE BUSINESS AND ASSETS OF A CAR FINANCING BUSINESS IN THE GREATER TORONTO AREA.

Pursuant to an Order of the Superior Court of Justice dated December 14, 2011 CarCap Inc. and Car Equity Loans Corp (collectively "CarCap") pursuant to section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended and section 101 of the Courts of Justice Act, R.S.O 1990 c. C.43, as amended, inter alia appoints BDO Canada Limited, as receiver of the property, assets and undertaking of CarCap. BDO Canada Limited is inviting offers for the purchase of the going concern business and/or assets of CarCap.

CarCap was established in 1996 and provides automotive lease financing to consumers purchasing older, used vehicles which do not qualify for conventional financing. The operation prides itself on being an innovative, asset based lender catering to the needs of borrowers who are unable to fulfill their financing requirements through conventional lenders. CarCap’s lease portfolio presently contains more than 3,000 leases.

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Contact Us

BDO CANADA LIMITED
123 Front St. West, Suite 1200
Toronto, Ontario, Canada
M5J 2M2

Tel: 416-865-0210
Fax: 416-865-0904
Email: swelker@bdo.ca

Partner: Blair Davidson x3112

Senior Manager: Gary Cerrato x6058

Senior Administrator: Steve Welker x3209

If you have a question and wish to be contacted, please provide us with the question(s) that you would like answered, together with your contact information. Your contact information should include your name, the company you represent (if applicable), the type of claim held/nature of interest and a contact number (i.e. telephone and/or fax) or email address where we may reach you.

Please send your inquiry to swelker@bdo.ca or by fax to 416-865-0904. Although we endeavor to respond to your enquiry within two business days, the volume of enquiries may impact our response time.