Alberta · Receivership (court-appointed)
Affidavit of Sonu Grewal April 1, 2026
Affidavit · 1 April 2026
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: Affidavit (para 10) states indebtedness of $906,066.74 as of March 31, 2026, but this figure corresponds only to Facility 0782-6989-101 per the affidavit's own table; BMO's internal 'Total Indebtedness' payout statement (Exhibit 7) as at Mar. 31, 2026 shows a combined Sub Total of $906,098.58 for both facilities (0782-6989-101: $906,066.74 and 0782-1917-053: $31.84, plus $6.00 fees) - the exact dated payout figure is used here. Earlier demand letter/NOI dated July 17, 2025 (Exhibit 8) stated indebtedness of $855,999.11 as of July 3, 2025 for Facility 0782-6989-101 only. Personal guarantee of $850,000.00 given by Bo Cao (director) - individual guarantor, not a corporate secured creditor. Forbearance Agreement dated August 20, 2025 in place; expired due to further default. · page: 56 · as of: 2026-03-31 · amount: 906098.58 · debtor: Motel Bo (Camrose) Ltd. · creditor: Bank of Montreal (BMO) · currency: CAD · security: General Security Agreement dated November 16, 2023 (all present and after-acquired personal/movable property plus floating charge over real property), registered in Alberta PPR (Reg. No. 23112919574, current); registered first-ranking All-Indebtedness Mortgage dated November 16, 2023 over Lot 4A, Block 5, Plan 7823402 (municipally 6216-48 Avenue, Camrose, AB) in the registered principal amount of $850,000.00; Assignment of Rents and Leases dated November 16, 2023 (Reg. No. 242 000 799); underlying $850,000 revolving demand real estate credit facility under Letter of Agreement dated November 21, 2023 (facility limit, not a balance)