Alberta · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 10 April 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 filing2 verified
- secured creditorsnote: Amount and nature of FCC's security not stated in document; only existence of priority agreement between BMO and FCC is disclosed. · page: 5 · debtor: Ballco Feeders Inc. · creditor: Farm Credit Canada · currency: CAD · security: Party (with Ballco Feeders and BMO) to a General Priority Agreement dated on or about September 15, 2020
- secured creditorsnote: Stated as 'owed in excess of $11,886,000 plus interest and costs continuing to accrue' - floor amount per document's own wording. BMO demanded payment on/around Dec 13, 2024. Ballco Feeders/Thrive indebtedness further secured by personal guarantees of director Jeffery Ball (individual guarantor). · page: 6 · as of: 2025-02-26 · amount: 11886000 · debtor: Ballco Feeders Inc., Ballco Group Corp., Thrive Provisions Inc. (collectively, the Companies) · creditor: Bank of Montreal (BMO) · currency: CAD · security: Mortgage over Ballco Feeders Property dated Sept 29, 2020 securing principal sum of $7,600,000 plus interest/costs; Ballco Feeders GSA dated Sept 29, 2020 (all present/after-acquired personal and real property); Caveat dated Dec 4, 2024 registering floating charge under Ballco Feeders GSA in amount of $4,000,000; Section 427 Bank Act security effective Oct 8-9, 2020; Mortgage over Ballco Group Property securing principal sum of $7,600,000 plus interest/costs; Ballco Group GSA dated Nov 30, 2021; Caveat dated Dec 4, 2024 registering floating charge under Ballco Group GSA in amount of $4,000,000; Thrive GSA dated Sept 29, 2020, PPR registration Aug 20, 2020