British Columbia · Receivership (court-appointed)
Affidavit of James Cook made Jan 16, 2025
Affidavit · 17 January 2025
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What we verified from this filing3 verified
- secured creditorsnote: Total indebtedness also includes US$39.90 as of same date (exclusive of costs, inclusive of accrued interest); Indebtedness is less than amount in Demand Letter due to subsequent account sweeps applied to balance; secured also by unlimited cross-guarantees between FF Partnership and FF Ontario, an EDC Guarantee (EDC guarantees Bank up to CAD $4,000,000 re FF Partnership Term Loan - EDC is guarantor to Bank, not a direct creditor of FF Entities), and Additional Guarantees from partners/related entities (personal guarantors: Brendan Harnett, Peter Christensen) on which demand has not yet been made · page: 2 · as of: 2024-12-13 · amount: 6469969.2 · debtor: Flying Fresh Air Freight and Flying Fresh Ontario Inc. · creditor: The Bank of Nova Scotia · currency: CAD · security: General Security Agreements (FF Partnership GSA dated Nov 30, 2017; FF Ontario GSA dated Nov 20, 2019) granting continuing security interest in all present and after-acquired personal property and proceeds; FF Partnership Insurance Assignment (Nov 30, 2017) over Coface accounts receivable insurance proceeds; perfected by PPSA registrations in BC, NS and ON; Bank asserts first-priority security interest
- secured creditorsnote: No third-party registrations against FF Partnership in Nova Scotia; affiant unaware of other potential secured creditors of FF Partnership · page: 8 · as of: 2025-01-14 · debtor: Flying Fresh Air Freight · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Active BC PPSA registrations against specific equipment, each registered subsequent to the Bank's registrations; comprising RCAP Leasing Inc., Ryder Truck Rental Canada Ltd, Vault Credit Corporation, and Toyota Industries Commercial Finance Canada, Inc.
- secured creditorsnote: Affiant unaware of other potential secured creditors of FF Ontario · page: 9 · as of: 2025-01-13 · debtor: Flying Fresh Ontario Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Active ON PPSA registrations against specific equipment, each registered subsequent to the Bank's registrations; comprising Tech Data Capital Canada ULC, BMW Canada Inc., Dell Financial Services Canada Limited, and Vault Credit Corporation