Alberta · Receivership (court-appointed)
Application for Receiver
Application / notice of application · 29 September 2023
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: First-ranking secured lender; loan comprised of equity take out facility up to $93,400,000 and repositioning facility up to $67,900,000 (facility limits, not balances); amount excludes legal costs to date, plus interest and costs continuing to accrue · page: 4 · as of: 2023-09-25 · amount: 135288424.79 · debtor: SCREO I 700 2ND Inc., 58508 Alberta Ltd. and SCREO I 700 2ND L.P. · creditor: Timbercreek Mortgage Servicing Inc. (and Computershare Trust Company of Canada, solely as bare trustee/nominee) · currency: CAD · security: SCREO Mortgage dated Nov 21, 2018 (registered principal $161,300,000); 585 Mortgage dated Nov 21, 2018 (registered principal $161,300,000); General Assignment of Rents and Leases (SCREO and 585); General Security Agreement dated Nov 27, 2018 (first-ranking security interest in personal property); Beneficial Owner's Agreements dated Nov 27, 2018 and July 11, 2023