Alberta · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 13 May 2024
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 filing4 verified
- secured creditorsnote: Amount is a floor: document states BMO 'was owed in excess of $415,306 plus interest and costs continuing to accrue thereon' as at November 14, 2022 (demand made March 31, 2022). Indebtedness further secured by personal guarantees of sole director Neil Gillard (related-party/personal guarantor). BMO is described as the Companies' senior secured creditor supporting the proposed auction. · page: 6 · as of: 2022-11-14 · amount: 415306 · debtor: Gill's Vacuum Service Ltd., One Earth Environmental Solutions Inc., and 2012613 Alberta Ltd. · creditor: Bank of Montreal (BMO) · currency: CAD · security: Mortgage dated July 26, 2016 over 124 Main Street and 321 Main Street securing principal sum of $580,000 plus interest and costs (original registered principal, not balance); Gill's General Security Agreement dated February 10, 2000 over all present and after-acquired personal and real property, registered at Alberta PPR; caveat dated August 18, 2021 registering the floating charge from the Gill's GSA in the amount of $500,000 (registration ceiling, not balance); One Earth General Security Agreement dated April 27, 2018 over all present and after-acquired personal and real property, registered at PPR; 201 Alberta assignment and postponement of claim in favour of Gill's indebtedness, registered at PPR August 19, 2012
- secured creditorsnote: Deemed trust claim (property of the Crown). Receiver identifies this as one of four claims believed to rank in priority to BMO. · page: 12 · as of: 2023-03-21 · amount: 87082 · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Property claim for unpaid source deductions
- secured creditorsnote: Deemed trust claim; of the $6,414 claimed, $6,205 represents property of the Crown under the Excise Tax Act. Receiver identifies this as ranking in priority to BMO. · page: 12 · as of: 2023-03-21 · amount: 6414 · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Claim for unpaid goods and services tax accruing in 2022
- secured creditorsnote: Approximate amount stated; Receiver identifies this as ranking in priority to BMO; to be paid from sale proceeds on closing. · page: 12 · amount: 5000 · creditor: Beaver County · currency: CAD · security: Unpaid 2023 municipal property taxes (statutory lien)