Alberta · Receivership (court-appointed)
Affidavit of Hardeep Singh
Affidavit · 10 January 2025
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What we verified from this filing3 verified
- secured creditorsnote: Total Indebtedness comprised of Principal $3,654,420.00, Interest $78,173.43, Administrative Fee $1,000.00, Protective Disbursement $2,731.58, Interest on Protective Disbursement $51.21, and Overdue Deposit (without interest) $39,000.00, plus per diem $789.67; exclusive of costs and further accruing interest. Personal guarantees provided by directors/shareholders Kulbir Dhadwal and Joga Singh Punian, and corporate guarantees by 1611474 Alberta Ltd., Strathmore Bottle Depot Ltd., 255172 Alberta Ltd., and 785791 Alberta Ltd. Notice of Intention to Enforce Security (s.244 BIA) served on/about January 22, 2024; forbearance agreement dated February 13, 2024 subsequently breached. · page: 4 · as of: 2024-12-10 · amount: 3775376.22 · debtor: 2345762 Alberta Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General Security Agreement dated July 30, 2021 over all present and after-acquired property (registered PPR No. 21061627099, June 16, 2021); Mortgage dated July 30, 2021 registered against the Lands (Instrument No. 212 269 115, securing original principal of $3,730,000.00 plus interest at Floating Rate + 10%); General Assignment of Rents dated July 30, 2021 (Instrument No. 212 269 116)
- secured creditorsnote: Regulatory/municipal tax arrears claim per City of Edmonton Property Tax Search dated November 19, 2024. · page: 4 · as of: 2024-11-19 · amount: 236754.23 · debtor: 2345762 Alberta Ltd. · creditor: City of Edmonton · currency: CAD · security: Tax Notification registered against the Lands April 19, 2024 (Instrument No. 242 092 516); statutory municipal property tax lien
- secured creditorsnote: Amount shown is original registered principal, not a stated outstanding balance; ranks behind BDC's Mortgage/Caveat on title. · page: 12 · debtor: 2345762 Alberta Ltd. · creditor: Shirin Mahal Sweets & Restaurant Ltd. · currency: CAD · security: Second Mortgage registered against the Lands March 12, 2021 (Instrument No. 212 269 117); original principal amount $1,000,000.00