Alberta · Receivership (court-appointed)
Statement of Claim
Application / notice of application · 30 November 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 filing6 verified
- secured creditorsnote: Amount not stated as a single total; components (all outstanding balances as at Nov 22, 2023) are: Loan #373144530001 $12,791,456.61; Loan #373144530002 $219,727.34; Loan #0014-1965-981 $8,077.80; LC #BMT0664048OS $1,300,000.00; LC #BMT0664049OS $128,868.08; LC #BMT0664050OS $34,000.00. Security also secures cross-guaranteed indebtedness of Action and 811 (indirect indebtedness). Guaranteed by Action, 811, and David Reid (personal guarantor). · page: 5 · as of: 2023-11-22 · debtor: Exclusive Hardwood Flooring Ltd. · creditor: Bank of Montreal · currency: CAD · security: Mortgage of Land (reg. #222 158 930, Dec 10, 2021) limited to principal sum of $15,000,000.00; General Assignment of Rents and Leases; General Security Agreement over all present and after-acquired personal and real property (PPR reg. #22021411475 and Land Charge #22021411499, Feb 14, 2022); Equitable Mortgage/floating charge via Caveat (Nov 6, 2023) with stated securing amount of $5,000,000.00
- secured creditorsnote: Amount not stated as a single total; components (all outstanding balances as at Nov 22, 2023) are: Loan #0014-1966-087 $3,922,189.51; Overdraft on #0014-1966-087 $69,988.12; Loan #5264********5746 $48,184.21. Security also secures cross-guaranteed indebtedness of 811. Guaranteed by Exclusive, 811, and David Reid (personal guarantor). · page: 6 · as of: 2023-11-22 · debtor: Action Flooring Ltd. · creditor: Bank of Montreal · currency: CAD · security: General Security Agreement dated Dec 10, 2021 over all present and after-acquired personal and real property (PPR reg. #22021411475 and Land Charge #22021411499, Feb 14, 2022)
- secured creditorsnote: Amount not stated as a single total; components (all outstanding balances as at Nov 22, 2023) are: Loan #0014-1966-001 $330.77; Loan #373144600001 $767,428.44. Guaranteed by Exclusive, Action, and David Reid (personal guarantor). · page: 7 · as of: 2023-11-22 · debtor: 811044 Alberta Ltd. · creditor: Bank of Montreal · currency: CAD · security: Mortgage of Land (reg. #222 158 919, Dec 10, 2021) limited to principal sum of $757,500.00; General Assignment of Rents and Leases; General Security Agreement over all present and after-acquired personal and real property (PPR reg. #22021411475 and Land Charge #22021411499, Feb 14, 2022); Equitable Mortgage/floating charge via Caveat (Nov 6, 2023) with stated securing amount of $500,000.00
- secured creditorsnote: Principal amount of mortgage granted June 21, 2023; balance/statement not provided. Granted without knowledge, consent, or approval of BMO (subordinate/subsequent registration). · page: 9 · as of: 2023-06-21 · amount: 1030000 · debtor: Exclusive Hardwood Flooring Ltd. · creditor: V. Ford Professional Corporation · currency: CAD · security: Mortgage against the Exclusive Lands
- secured creditorsnote: Outstanding property taxes levied against the Exclusive Lands as at Nov 6, 2023. · page: 9 · as of: 2023-11-06 · amount: 222793.11 · debtor: Exclusive Hardwood Flooring Ltd. · creditor: City of Edmonton · currency: CAD · security: Statutory municipal property tax lien on the Exclusive Lands
- secured creditorsnote: Outstanding property taxes levied against the 811 Lands as at Nov 6, 2023. · page: 9 · as of: 2023-11-06 · amount: 82860.61 · debtor: 811044 Alberta Ltd. · creditor: City of Edmonton · currency: CAD · security: Statutory municipal property tax lien on the 811 Lands