Alberta · Receivership (court-appointed)
2343-Filed-2024-09-05-Second Supplemental Affidavit of Muhammad Ashraf
Affidavit · 5 September 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 filing3 verified
- secured creditorsnote: Indebtedness stated 'plus any and all accruing interest, fees (including legal fees on solicitor and own client, full indemnity basis), costs, and expenses'. A related, earlier exact-dated balance of the same Indebtedness was $37,564,029 as of April 27, 2022, comprised of listed facility advances (Medicine Hat Lodge Operating Loan $350,000; Medicine Hat Lodge Loan $10,866,068; Cooper Coulee Casino Loan $803,481; Camrose Operating Loan $250,000; Camrose Resort Casino Loan $11,281,890; Camrose Hotel & Banquet Loan $9,800,154; Letters of Guarantee Facility $25,000; EDC-BCAP Operating Loan $4,187,436) (Forbearance Agreement Exhibit, original p.44-45). Personal guarantee also held from Howard Pechet, Guarantor (individual, not a company). · page: 4 · as of: 2024-09-03 · amount: 38902672.68 · debtor: Mayfield Investments Ltd. · creditor: ATB Financial · currency: CAD · security: Commitment Letter Credit Facilities (Medicine Hat Lodge Operating Loan, Medicine Hat Lodge Loan, Cooper Coulee Casino Loan, Camrose Operating Loan, Camrose Resort Casino Loan, Camrose Hotel & Banquet Loan, Letters of Guarantee Facility, EDC-BCAP Operating Loan); General Security Agreement (all present/after-acquired personal property, floating charge on lands and real property); Additional Security Agreements (Assignment of Deposit, Assignment of Insurance, assignment/postponement from Mayfield Shareholding Partnership); Guarantee of Howard Pechet
- secured creditorsnote: Lien registered by ServiceMaster, general contractor for Camrose Resort and Casino flood repairs; Lender/Financial Advisor was only notified of the lien in November 2023. · page: 15 · as of: 2023-01-24 · amount: 2896339.73 · debtor: Mayfield Investments Ltd. · creditor: ServiceMaster · currency: CAD · security: Builder's lien registered on title of the Medicine Hat Lodge
- secured creditorsnote: Amount stated is original registered principal, not a current outstanding balance; Camrose Exhibition has also filed a claim/statement of claim against the Borrower in Alberta Court of King's Bench. · page: 18 · debtor: Mayfield Investments Ltd. · creditor: Camrose Regional Exhibition & Agricultural Society · currency: CAD · security: Mortgage, original principal amount of $1,500,000, registered against both the Camrose Casino Lands and the Camrose Excess Lands