Quebec · CCAA
Application to Cancel a Legal Hypothec (Swallow-Fournier) and Exhibits in Support thereof dated October 4, 2024
Application / notice of application · 4 October 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing6 verified
- secured creditorsnote: DISPUTED - Applicants (Debtors) expressly do not admit the quantum and seek cancellation, alleging the hypothec was registered without right, is unsupported (materials/services allegedly did not increase value to the immovable), and is extinguished by operation of law as of May 23, 2024 for want of a preserving action. Stated amount is the creditor's own grand total: $236,950.65 (béton projeté) + $1,081,400.81 (concassage/mobilization-demobilization), taxes included. Duplicate registration no. 28 407 631 was later discharged/radiated (T 28 447 164). Registration occurred post-filing (Nov. 21-23, 2023, after Oct. 27, 2023 Initial Order) though claim relates to pre-filing goods/services. · page: 3 · as of: 2023-11-21 (Notice of preservation of a hypothec; registered 2023-11-23) · amount: 1318351.46 · debtor: Les Diamants Stornoway (Canada) Inc. · creditor: Swallow-Fournier Inc. · currency: CAD · security: Legal hypothec (construction) (arts. 2724 a.(2), 2726, 2728 CCQ) registered in the Sept-Îles Land Registry (registration no. 28 407 460, plus a duplicate registration no. 28 407 631) against the Property (lots 4 981 187 and 4 981 520) and purportedly against the Mining Lease/real right of State resources development no. 96-A-2385; Ministère des Ressources naturelles et des Forêts listed as propriétaire
- secured creditorsnote: DISCHARGED: registration cancelled/radiated per Land Registry entry (T 28 747 122) - 'L'inscription des droits hypothécaires résultant du document ou de la réquisition N° 28 389 764 est supprimée'; not a current encumbrance · page: 12 · as of: 2023-11-15 · amount: 415558.83 · debtor: Les Diamants Stornoway (Canada) Inc. · creditor: ISCO Canada Inc. · currency: CAD · security: Legal hypothec (construction) registered in the Sept-Îles Land Registry (registration no. 28 389 764) against the Property
- secured creditorsnote: Registration occurred post-filing; a Préavis d'exercice - vente sous contrôle de justice referencing this registration was filed 2023-12-22 (registration no. 28 467 575) · page: 12 · as of: 2023-11-22 · amount: 86993.55 · debtor: Les Diamants Stornoway (Canada) Inc. · creditor: Meglab Électronique inc. · currency: CAD · security: Legal hypothec (construction) registered in the Sept-Îles Land Registry (registration no. 28 404 560) against the Property
- secured creditorsnote: Registration occurred post-filing (Nov. 3, 2023, after Oct. 27, 2023 Initial Order) but appears to secure a pre-filing construction claim; a Préavis d'exercice - vente sous contrôle de justice referencing this registration was filed 2024-04-17 · page: 12 · as of: 2023-11-03 · amount: 3183915.88 · debtor: Les Diamants Stornoway (Canada) Inc. · creditor: Gestion Houde inc. · currency: CAD · security: Legal hypothec (construction) (arts. 2724(2), 2726, 2728 CCQ) registered in the Sept-Îles Land Registry (registration no. 28 371 851) against the Property (lots 4 981 187 / 4 981 520); Ministère des Ressources naturelles et des Forêts listed as propriétaire (tréfonds)
- secured creditorsnote: Registration occurred post-filing; a Préavis d'exercice - vente sous contrôle de justice referencing this registration was filed 2024-04-17 (registration no. 28 636 246) · page: 12 · as of: 2023-11-22 · amount: 87675.06 · debtor: Les Diamants Stornoway (Canada) Inc. · creditor: 9466-0339 Québec inc. · currency: CAD · security: Legal hypothec (construction) registered in the Sept-Îles Land Registry (registration no. 28 404 751) against the Property; Ministère des Ressources Naturelles et des Forêts listed as propriétaire
- secured creditorsnote: Registration occurred post-filing; a Préavis d'exercice - vente sous contrôle de justice referencing this registration was filed 2023-12-22 (registration no. 28 467 566) · page: 13 · as of: 2023-11-28 · amount: 261386.55 · debtor: Les Diamants Stornoway (Canada) Inc. · creditor: 9039-4081 Québec inc. · currency: CAD · security: Legal hypothec (construction) registered in the Sept-Îles Land Registry (registration no. 28 414 777) against the Property