Saskatchewan · Interim receivership
Part 1 of 4 - 2024-07-07 - Affidavit of Ahmed Bedair
Affidavit · 7 July 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 filing2 verified
- secured creditorsnote: Amount stated is the 'Royalty Indebtedness' (unpaid royalties) as of July 7, 2024, continuing to increase; security registered only after the June 10, 2024 termination notice, i.e. shortly before/around this affidavit; Toronto-Dominion Bank is stated to hold a first-registered security interest ahead of Block with respect to 102 Sask in Saskatchewan (see separate entry); personal guarantees of the Royalty Indebtedness and Loan Indebtedness were provided by Wafa Anwar and Wardah Anwar (individuals, not companies) as directors/officers/shareholders · page: 6 · as of: 2024-07-07 · amount: 1051657.2 · debtor: Anwar & Anwar Consulting Inc. and 102050413 Saskatchewan Inc. · creditor: H&R Block Canada, Inc. · currency: CAD · security: PPSA registrations (Saskatchewan and New Brunswick) and Hypothec registrations (Quebec) over amounts due and owing under the Franchise Agreements, registered following termination of the Franchise Agreements on June 10, 2024; Quebec Franchise Agreements (13 locations) each separately grant a $250,000 hypothec (registration ceiling, not an aggregate balance) on the universality of present and future movable property, furnishings, equipment, fixtures and inventory
- secured creditorsnote: Stated on advice of counsel to 'appear to have' a first registered security interest, i.e. unconfirmed priority position; no balance disclosed in the document · page: 8 · debtor: 102050413 Saskatchewan Inc. · creditor: Toronto-Dominion Bank · currency: CAD · security: First registered security interest (PPSA, Saskatchewan) - general/blanket, amount and collateral description not stated