Alberta · Receivership (court-appointed)
Affidavit of Jim Taylor, sworn on November 7, 2022
Affidavit · 8 November 2022
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: Related party (Company shareholders); financing obtained by CRO to provide immediate liquidity; expressly subordinated in name to senior secured Lender's indebtedness; no specific date stated for advance. · page: 3 · amount: 450000 · debtor: Enterra Feed Corporation · creditor: Certain shareholders of Enterra Feed Corporation (unnamed) · currency: CAD · security: Subordinated secured financing (terms not specified)
- secured creditorsnote: Exact dated balance per Demand/Notice of Intention to Enforce Security (Term Loan Facility outstanding principal $10,000,000.00, less interest prepaid $201,643.84, plus interest expense to Sept 8, 2022 of $153,424.66 = Total Indebtedness $9,951,780.82); affidavit para 5 cites rounded prose figure of $9,951,781 as of the same date. Debt also guaranteed by Enterra Feed US Corporation, Enterra Feed US Sales Corporation, and Enterra Feed Marion Corporation (corporate guarantors) pursuant to Guarantees dated May 15, 2019. · page: 10 · as of: 2022-09-08 · amount: 9951780.82 · debtor: Enterra Feed Corporation · creditor: Forage Subordinated Debt LP III (formerly Avrio Subordinated Debt LP III) · currency: CAD · security: General Security Agreement dated May 15, 2019, and Assignment of Intellectual Property dated May 15, 2019, granted by Enterra Feed Corporation to the Lender