Alberta · Receivership (court-appointed)
Affidavit of John Herman
Affidavit · 18 November 2022
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 filing8 verified
- secured creditorsnote: Loan #2532-6994-093; interest at Prime + 5.00% per annum thereafter · page: 2 · as of: 2022-11-07 · amount: 5556.57 · debtor: One Earth Environmental Solutions Inc. · creditor: Bank of Montreal · currency: CAD · security: Same One Earth GSA and PPSA registrations as Loan #2532-6692-362
- secured creditorsnote: Loan #2532-6692-362; interest at Prime + 5.00% per annum thereafter · page: 2 · as of: 2022-11-07 · amount: 9449.57 · debtor: One Earth Environmental Solutions Inc. · creditor: Bank of Montreal · currency: CAD · security: Alberta PPSA Security Agreement dated April 27, 2018 (One Earth GSA) over all present/after-acquired personal and real property; PPSA registrations 18042035839 and 21081911269; also indirectly secured by First/Second Gill's Guarantee and First/Second 6932 Guarantee (each limited to $170,000 / $150,000)
- secured creditorsnote: Loan #2532-6992-389 (MasterCard-type facility); interest at 18.40% per annum · page: 3 · as of: 2022-11-07 · amount: 372.31 · debtor: One Earth Environmental Solutions Inc. · creditor: Bank of Montreal · currency: CAD · security: Same One Earth GSA and PPSA registrations as above
- secured creditorsnote: Loan #2579-6998-427; interest at Prime + 5.00% per annum thereafter, plus costs on a solicitor-and-own-client basis. This security also secures Gill's Indirect Indebtedness (guarantees of One Earth's and Neil Gillard's personal debt to BMO). · page: 3 · as of: 2022-11-07 · amount: 260495.48 · debtor: Gill's Vacuum Service Ltd. · creditor: Bank of Montreal · currency: CAD · security: Mortgage of Land dated July 26, 2016 (principal $580,000, Prime+5.00%, instrument 162 218 516); Alberta PPSA General Security Agreement dated February 10, 2000 over all present/after-acquired personal and real property; Equitable Mortgage by Caveat registered August 18, 2021 (instrument 212 239 117) for $500,000; PPSA registrations 16011114806 and 21081911243
- secured creditorsnote: Loan #2579-6999-171; interest at Prime + 5.00% per annum thereafter · page: 3 · as of: 2022-11-07 · amount: 4884.55 · debtor: Gill's Vacuum Service Ltd. · creditor: Bank of Montreal · currency: CAD · security: Same Mortgage, Gill's GSA, Equitable Mortgage and PPSA registrations as Loan #2579-6998-427
- secured creditorsnote: 2012613 Alberta Ltd. (sole shareholder of Gill's - related party) guarantees Gill's total indebtedness to BMO. Affidavit lists components (as at Nov 7, 2022) of $260,495.48, $4,884.55, $9,449.57, $5,556.57, $372.31 and $134,547.07 without stating a single combined total for this entry; guarantee capped at the stated principal limits plus interest/costs. · page: 6 · as of: 2022-11-07 · debtor: 2012613 Alberta Ltd. · creditor: Bank of Montreal · currency: CAD · security: Guarantee for Indebtedness of an Incorporated Company dated April 27, 2018 (First 2012 Guarantee, limited to principal $445,500) and dated January 5, 2020 (Second 2012 Guarantee, limited to principal $618,200), each plus interest from demand at 3.00% above Prime plus legal costs; secured by assignment and postponement of all indebtedness of Gill's to 2012 in favour of BMO; PPSA registration 21081911303 (August 19, 2021)
- secured creditorsnote: Floor amount: affidavit states 'Gill's and 2012 owe to BMO a significant amount exceeding $415,305.55' · page: 9 · as of: 2022-11-07 · amount: 415305.55 · debtor: Gill's Vacuum Service Ltd. and 2012613 Alberta Ltd. (related parties) · creditor: Bank of Montreal · currency: CAD
- secured creditorsnote: Stated total amount of indebtedness secured by the security per Notice of Intention to Enforce Security dated March 31, 2022, plus additional credit extended thereafter and accruing interest/legal costs; an earlier point-in-time figure, later superseded in part by the November 7, 2022 component balances reported in the sworn affidavit. · page: 355 · as of: 2022-03-31 · amount: 972120.18 · debtor: Gill's Vacuum Service Ltd. (security also secures One Earth Environmental Solutions Inc. and Neil Gillard indebtedness) · creditor: Bank of Montreal · currency: CAD · security: Mortgage of Land dated July 26, 2016; Alberta PPSA Security Agreement dated February 10, 2000; General Assignment of Debts dated May 13, 1998; Guarantees for Indebtedness of an Incorporated Company dated February 4, 2020 and April 27, 2018; Guarantees for Indebtedness of an Individual dated July 26, 2016