British Columbia · CCAA

First Report of the Monitor, December 4, 2024

Court officer report · 4 December 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 filing1 verified

secured creditorsnote: Loan Facilities matured September 1, 2024 and were not repaid, constituting an event of default; balance continues to accrue interest and costs. Obligations guaranteed by Peterson Property Holdings Inc., Spruceland Mall Limited Partnership, and Peterson Investment (Spruceland) Ltd. (related-party guarantors, wholly-owned entities within the Peterson Group). · page: 6 · as of: 2024-11-21 · amount: 207600000 · debtor: Sperling Limited Partnership (borrower under Loan Facilities; advanced to Sperling GP Ltd. as borrower) · creditor: Royal Bank of Canada (as agent), together with syndicate Lenders Toronto Dominion Bank, Bank of Montreal, and Bank of Nova Scotia · currency: CAD · security: Secured Loan Facilities under amended and restated Credit Agreement dated February 14, 2024; facility totaling approximately $210.0 million (facility principal/limit, not the outstanding balance)