Alberta · Receivership (court-appointed)
Affidavit of D. Gottselig
Affidavit · 5 December 2025
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 filing5 verified
- secured creditorsnote: No balance/amount owing to NBC stated in this affidavit; NBC issued demand and NOI under s.244 BIA on Dec 2, 2025 and filed receivership application seeking receiver over NBC Financed Equipment · page: 9 · debtor: Light Speed Holdings Inc. / Light Speed Logistics Inc. · creditor: National Bank of Canada (NBC), formerly Canadian Western Bank · currency: CAD · security: General security agreement against LSH property (registered after BDC's registration against LSH); NBC Priority Agreement (Feb 21, 2018) re LSL personal property/Listed Equipment
- secured creditorsnote: Aggregated per PPR searches (Exhibits O & P dated Dec 5, 2025); individual amounts not stated · page: 10 · as of: 2025-12-05 · debtor: Light Speed Logistics Inc. / Light Speed Holdings Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Various serial-number PPR registrations against motor vehicles (trucks and trailers) and other categories of assets
- secured creditorsnote: CAD portion of combined Indebtedness under Facilities per payout statement (Exhibit Z); exclusive of ongoing interest, fees, costs and legal fees · page: 11 · as of: 2025-12-05 · amount: 9467176.54 · debtor: Light Speed Holdings Inc. / Light Speed Logistics Inc. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: GSAs (LSH GSA, Guarantor GSA), First Mortgage ($10,000,000 principal) and Second Mortgage ($3,310,240 principal) against Lands, GARLs, Corporate and Individual Guarantees, priority interest first-in-time over LSH personal property and Lands
- secured creditorsnote: USD portion of combined Indebtedness under Facilities per payout statement (Exhibit Z); exclusive of ongoing interest, fees, costs and legal fees · page: 11 · as of: 2025-12-05 · amount: 4342764.89 · debtor: Light Speed Holdings Inc. / Light Speed Logistics Inc. · creditor: Business Development Bank of Canada (BDC) · currency: USD · security: Same security as CAD BDC entry (GSAs, Mortgages, GARLs, Guarantees); relates to Loan 5 facility (USD $13,000,000 maximum amount)
- secured creditorsnote: Stated as floor - 'in excess of $28 million' (also described as 'upwards of $28 million in principle alone'); demand issued and NOI under s.244 BIA served Nov 24, 2025; CIBC receivership order granted Dec 5, 2025 over certain LSL assets · page: 11 · amount: 28000000 · debtor: Light Speed Logistics Inc. (principal); Light Speed Holdings Inc. (unlimited guarantee) · creditor: Canadian Imperial Bank of Commerce (CIBC) · currency: CAD · security: Credit agreements with LSL; unlimited guarantee by LSH secured by mortgage against the Lands, registered after BDC's Mortgage (subordinate); CIBC Priority Agreement/Postponement re LSL personal property