Ontario · NOI
Affidavit of Meena Alnajar (sworn February 16, 2026)
Affidavit · 16 February 2026
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 filing3 verified
- secured creditorsnote: POST-FILING debtor-in-possession (DIP) financing sought for and approved by the court in the s.50.4 BIA NOI proceedings; the DIP Lender's Charge 'shall not secure an obligation that exists before this Order is made' (form of Extension Order, para 14). NOT pre-filing debt. No advances or outstanding balance stated. Interest 7.5% per annum; $20,000 commitment fee (earned on issuance of the Extension Order, added to the facility, does not reduce the maximum). Maturity: earliest of April 30, 2026 or other listed events. Related-party status of the lender not stated. All amounts CAD. · page: 5 · as of: DIP term sheet dated 2026-02-16 · debtor: JointCraft Inc. · creditor: 1158667 Ontario Ltd. (DIP Lender) · currency: CAD · security: Court-ordered DIP Lender's Charge over all present and future property, assets and undertakings of the Borrower (real and personal, tangible and intangible; the "Property"). Non-revolving DIP facility up to a maximum aggregate principal amount of $870,000 (a facility ceiling, not a drawn balance). Ranks SECOND in the court-ordered priority waterfall, behind the Administration Charge and ahead of the D&O Charge, and in priority to all other security interests, liens and secured creditors' claims.
- secured creditorsnote: POST-FILING court-ordered priority charge (Administration Charge), not a debt owed to a named creditor; $85,000 is a ceiling. Amounts CAD. · page: 7 · as of: form of Extension Order dated 2026-02-16 · debtor: JointCraft Inc. · creditor: Administration Charge (Proposal Trustee Harris & Partners Inc., its counsel, and counsel to the Company) · currency: CAD · security: Court-ordered charge on the Property to a maximum aggregate amount of $85,000 (a ceiling, not a balance), securing professional fees and disbursements of the Proposal Trustee, its counsel, and counsel to the Company. Ranks FIRST in the court-ordered priority waterfall, ahead of the DIP Lender's Charge and the D&O Charge, and in priority to all other secured creditors.
- secured creditorsnote: POST-FILING court-ordered priority charge (D&O Charge), not a debt owed to a creditor; $135,000 is a ceiling. Benefit available only to the extent D&O insurance coverage is unavailable or insufficient. Amounts CAD. · page: 7 · as of: form of Extension Order dated 2026-02-16 · debtor: JointCraft Inc. · creditor: Directors & Officers Charge (D&O indemnity) · currency: CAD · security: Court-ordered charge on the Property to a maximum aggregate amount of $135,000 (a ceiling, not a balance), as security for the Company's indemnity of its current/future directors and officers for obligations incurred after commencement of the proceedings. Ranks THIRD in the court-ordered priority waterfall, subordinate to the DIP Lender's Charge.