British Columbia · Receivership (court-appointed)
Affidavit #1 of Gurpreet Sidhu
Affidavit · 4 July 2025
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 by debtor per affidavit. · page: 5 · amount: 54807.32 · debtor: Evergreen Future Investments (2016) Inc. · creditor: Armstrong Environmental Services (AES) Inc. · currency: CAD · security: Lien claim against 1701 224 Street, Langley
- secured creditorsnote: DISCHARGED - affidavit states the mortgage 'has been paid and discharged through a sale of a property unencumbered by the Petitioner's security'; not a current claim. · page: 5 · debtor: Evergreen Future Investments (2016) Inc. · creditor: Unimark Developments Ltd. · currency: CAD · security: Mortgage (property unspecified) shown on Evergreen title searches
- secured creditorsnote: Disputed by debtor; affidavit states the claim 'has no merit' and that Grewal is reportedly taking steps to remove the lien; lien claimed to be for land clearing/site work performed for a proposed purchaser/owner. · page: 30 · as of: 2024-01-10 · amount: 7200000 · debtor: Evergreen Future Investments (2016) Inc. · creditor: Sundeep Grewal · currency: CAD · security: Builders Lien (Claim of Lien, Doc# BB1553477, registered 2025-03-21) against 1701 224 Street, Langley (PID 000-461-890)
- secured creditorsnote: Amount is approximate, per Farm Debt Mediation Summary statement 'Scotia Bank has demanded payment of approximately $20,000,000.00 in loans due to default and breaches of the mortgage terms'; loans called by Scotia Bank on 2024-08-06; Certificate of Pending Litigation registered against Evergreen property 2025-05-16; personal guarantees exist (Gurpreet/Gary Sidhu, Harinderpal/Harry Sidhu as directors/guarantors, and their spouses Kanwaljit Kaur Sidhu and Harjit Kaur Sidhu named as guarantors); figure is materially inconsistent with $11,000,000 'Mortgage Loans' shown on Evergreen's own current-value balance sheet dated 2025-05-27 (see financial_position note) - discrepancy not reconciled in the record. · page: 104 · as of: 2024-08-06 · amount: 20000000 · debtor: Evergreen Future Investments (2016) Inc. · creditor: The Bank of Nova Scotia (Scotia Bank) · currency: CAD · security: Mortgages registered against: 34350 Bateman Road (2021-06-15), 31433 King Road (2021-11-30), 1760 264 Street (2021-06-15), 1701 224 Street (2020-03-03), 31428 Ridgeview Drive (2020-03-03), 1264 McCallum Road (2020-03-03); estimated aggregate property security value $38,000,000 per Farm Debt Mediation Summary
- financial positionnote: Total liabilities include $11,000,000 'Mortgage Loans' (long-term) which is materially inconsistent with the Farm Debt Mediation Summary's statement that Scotia Bank had demanded payment of approximately $20,000,000 due to default (see secured_creditors entry); the $11,000,000 figure corresponds to a 'New Loan (Revolving Term Loan)' shown on the liabilities worksheet, suggesting it may reflect a proposed/restructured loan rather than the current outstanding balance; discrepancy not reconciled in the record. Net worth stated as $19,133,214. · page: 109 · as at: 2025-05-27 · basis: Self-reported 'Current Value Balance Sheet' (AAFC/Farm Debt Mediation Service standard form) - unaudited management estimate prepared for the Farm Debt Mediation application · scope: Entity - Evergreen Future Investments (2016) Inc. · currency: CAD · total assets: 30305236 · total liabilities: 11172022
- secured creditorsnote: Interest rate 17.60% per liabilities worksheet. · page: 112 · as of: 2025-05-27 · amount: 159234 · debtor: Evergreen Future Investments (2016) Inc. · creditor: Accord Financial · currency: CAD · security: Equipment loan (PPSA/PMSI class) - equipment pledged as security; original amount $270,000