Alberta · Receivership (court-appointed)
Receivership Application
Application / notice of application · 4 November 2025
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What we verified from this filing11 verified
- applicantNBIMC Quantitative Strategies Fund – Class N
- commencement date4 November 2025
- courtCOURT OF KING'S BENCH OF ALBERTA
- court file no2501-17556
- appointeeFTI Consulting Canada Inc.
- appointee rolereceiver and manager
- statutory basissection 243 of the Bankruptcy and Insolvency Act (Canada), section 13 of the Judicature Act (Alberta) and section 65(7) of the Personal Property Security Act (Alberta)
- secured creditorsnote: USD $30,000,000 is the stated principal amount of the loan agreement (Interim Facility), not an outstanding balance. Document states amounts outstanding as at October 30, 2025 include principal, interest and accruing fees/costs, but no dollar figure is given (sentence appears incomplete in filing). Repayable on demand; notices of default and demand issued ~Sept 28, 2025. · page: 6 · as of: 2025-05-15 · debtor: Exro Cdn Entities and Exro Foreign Entities · creditor: NBIMC Quantitative Strategies Fund – Class N (Interim Facility) · currency: USD · security: First-ranking security interest against all Property, comprising general security agreements from each Exro Cdn Entity and an intellectual property security agreement, both in favour of the Lender
- secured creditorsnote: USD $73,932,516 is the stated aggregate principal amount of various promissory notes; not identified as a current outstanding balance. · page: 6 · as of: advanced on various dates between 2024-04-05 and 2025-04-28 · debtor: Exro Canada · creditor: NBIMC Group (NBIMC and related entities under same trust deed) – Secured Note Financing · currency: USD · security: Second-ranking security interest against Property, ranking pari passu with amounts advanced under the Indenture Financing
- secured creditorsnote: USD $14,950,000 is the stated original principal amount under the Note Indenture (as amended and restated); not identified as a current outstanding balance. · page: 6 · as of: 2022-12-30 (original), amended and restated 2025-07-11 · debtor: Exro Canada · creditor: Odyssey Trust Company, as trustee for noteholders (Indenture Financing) · currency: USD · security: Second-ranking security interest against Property, ranking pari passu with the Secured Note Financing, subject to a Priority, Postponement and Standstill Agreement dated August 26, 2025 with the Applicant
- counselBlake, Cassels & Graydon LLP