Alberta · CCAA
Affidavit of R. French - 2026.06.29 (Part 3 of 4)
Affidavit · 25 June 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: Aggregated per policy for serialized-equipment financiers (PMSI class); no comparative balance in 2023. · page: 124 · as of: 2024-12-31 · amount: 360159 · debtor: MTE Logistix LP · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Two capital leases for machinery and equipment (6.49% interest, maturing Nov 22, 2027; 5.01% interest, maturing Sept 30, 2028)
- secured creditorsnote: Balance is net of deferred financing fees on a $56,000,000, 5-year term loan (7% interest) maturing Aug 17, 2026; prose/original advance was $56M. Partnership in default since Dec 19, 2024 (interest accruing at 9%); accommodation agreement terminated. Subsequent event: Oct 3, 2025 forbearance agreement, unitholder guarantee/pledge of GP unit, and subordination of related-party debt. Lender identity inferred from matching Priority Agreement (pp.2-9) describing 'Secured Party' collateral as all Debtor property other than Inventory/Accounts Receivable — not explicitly named in the financial statement note itself. · page: 125 · as of: 2024-12-31 · amount: 46525212 · debtor: MTE Logistix LP (and guarantors: MTE Logistix Management Inc., MTE Logistix Calgary Inc., MTE Logistix Edmonton Inc., Hydrive Forklift & Equipment Inc., Porter Warehousing & Distribution Inc., Active Warehousing Inc.) · creditor: Fiera Private Debt Fund VI LP (by its general partner Fiera Private Debt Fund GP Inc.) · currency: CAD · security: General security agreement creating first-ranking security interest in all present and after-acquired personal property of the Partnership and guarantors, together with a floating land charge, subject to permitted encumbrances; unlimited guarantees from operating subsidiaries; limited recourse guarantee/pledge agreements from General Partner and related entities; assignment/postponement/subordination of shareholder loans; assignment of insurance
- secured creditorsnote: Revolving operating loan facility limit up to $5,000,000 [2023 – $5,000,000] (facility limit, not balance); drawn amount stated is the balance. Partnership in breach of restrictive covenants during the year. Subsequent events: facility reduced to $3,000,000 (Mar 6, 2025) with further covenant amendments through Jan 31, 2026. Lender identity inferred from matching Priority Agreement (pp.2-9) describing ATB's priority collateral as Inventory and Accounts Receivable — not explicitly named in the financial statement note itself. · page: 126 · as of: 2024-12-31 · amount: 1725557 · debtor: MTE Logistix LP · creditor: ATB Financial · currency: CAD · security: General security agreement over property and an inter-creditor agreement (with lender in note 9[a]) in respect of inventory and accounts receivable