Alberta · Receivership (court-appointed)
Affidavit
Affidavit · 8 January 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: Mortgage Loan facility (facility #16651853-1); also secured by a personal Guarantee and Postponement from Jarnail Singh Sihota (sole director/shareholder of Borrower, related party) dated June 1, 2021 in the principal amount of $1,519,375.00 plus interest and costs. Borrower separately in arrears $45,660 under Loan Agreement as of affidavit date; Servus also paid outstanding municipal property taxes of $262,388.53 on Oct 15, 2025 on Borrower's behalf (added to Indebtedness). · page: 2 · as of: 2025-12-30 · amount: 2638508.92 · debtor: 1043569 Alberta Ltd. · creditor: Servus Credit Union Ltd. · currency: CAD · security: Mortgage dated June 1, 2021, registered in Alberta Land Titles as instrument 212 195 684, securing all present and future debts/liabilities up to a maximum principal amount of $3,038,750.00 (not a balance), over the Lands (Plan 7823104, Block 1, Lot 3, 211 Calahoo Road, Spruce Grove); also General Security Agreement dated June 1, 2021 granting a security interest in all present and after-acquired real and personal property (both instruments secure all of the Indebtedness).
- secured creditorsnote: Cost Account facility outstanding balance, cross-secured with Mortgage Loan facility under same Mortgage and GSA. · page: 2 · as of: 2025-12-30 · amount: 272038.58 · debtor: 1043569 Alberta Ltd. · creditor: Servus Credit Union Ltd. · currency: CAD · security: Same Mortgage (instrument 212 195 684) and General Security Agreement dated June 1, 2021 as securing the Mortgage Loan facility; both secure all of the Indebtedness.
- secured creditorsnote: Quasi-governmental/CRA arrears claim registered as a writ of enforcement against the Borrower's title; document does not characterize it further as deemed trust. · page: 4 · as of: 2024-12-05 · amount: 32847 · debtor: 1043569 Alberta Ltd. · creditor: Minister of National Revenue (Canada Revenue Agency) · currency: CAD · security: Writ of Enforcement registered against the Lands (title) on December 5, 2024.