Hunterwood Technologies Ltd.

Hunterwood Technologies Ltd. was placed in court-appointed receivership on February 9, 2024, under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, in court file No. 2403 02919. Its primary secured creditor, HSBC Bank Canada, was owed approximately $8.7 million as at the receivership date; an affidavit puts the total at $8,733,351.94 as at February 7, 2024, before legal costs, comprising an operating loan of $2,693,989.81, a capital loan facility of $3,741,396.42, a letter of guarantee facility of $1,682,343.75 (approximately USD 1,250,000), a master lease facility of $577,438.18 and a MasterCard facility of $38,183.78. HSBC held general security agreements over the present and future personal property of Hunterwood, Harvest Farm Equipment Inc. and Hunterwood Technologies USA Ltd., with guarantees from both, and first priority over Hunterwood's personal property per a PPSA search dated February 6, 2024. Apex III Investment Fund Limited Partnership and Roynat Capital Inc., the latter also a Hunterwood shareholder, are subordinated to HSBC's repayment in full under an August 9, 2023 subordination agreement. The record shows an order dated April 12, 2024 and a bid deadline of May 10, 2024. The proceeding is closed.