Alberta · Receivership (court-appointed)
Supplemental Affidavit of Rod Randall
Affidavit · 8 December 2023
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: CWB Indebtedness pursuant to Loan Facilities; Demand Letter and s.244 BIA Notice of Intention to Enforce Security issued October 2, 2023; unremedied default since March 31, 2023 (failure to reduce Operating Facility to $5,000,000); WGI reserved against but excluded from receivership application · page: 3 · as of: 2023-12-07 · amount: 16787345 · debtor: Wolverine Energy and Infrastructure Inc. and related CCAA Debtors, and Wolverine Group Inc. (collectively 'the Debtors') · creditor: Canadian Western Bank (CWB) · currency: CAD · security: General Security Agreement over all present and future real and personal property of the CCAA Debtors; Lender also holds security on all assets, properties and undertakings of Wolverine Group Inc. (WGI), which is not a CCAA/receivership debtor
- secured creditorsnote: Described as 'the other primary secured creditor of certain of the Debtors'; amount stated as approximate ('owed approximately $54 million'); supports the receivership application · page: 3 · amount: 54000000 · debtor: certain of the Debtors · creditor: Fiera (Fiera Private Debt Fund or affiliate) · currency: CAD
- secured creditorsnote: Described as 'a significant number of creditors who have purchase money security interests against their property'; not individually named or quantified; entitled to apply within 30 days of service to vary priority of Receiver's Charge and Receiver's Borrowing Charge · page: 4 · debtor: CCAA Debtors · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Purchase-money security interests (PMSIs) against Debtors' property