Alberta · Receivership (court-appointed)
Affidavit of Jocelyn Beriault
Affidavit · 19 August 2022
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What we verified from this filing9 verified
- secured creditorsnote: McIvor Direct Indebtedness; per diem $339.04 thereafter, plus costs. McIvor also guaranteed FMPC's debt (FMPC Guarantees) up to $3,250,000 principal; RBC demanded payment of this Guarantee Liability in the amount of $557,181.33 as of 2022-07-28 (per demand letter), notice of intention to enforce security issued. · page: 4 · as of: 2022-08-15 · amount: 2504407.54 · debtor: McIvor Developments Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: First GSA (Floating Charge on Land, 2016-08-12) and Second GSA (2016-08-09) over all personal property; Collateral Mortgage dated 2016-08-12 securing registered principal of $6,000,000.00 (Reg. No. 161 203 509) against McIvor Lands; all perfected/registered
- secured creditorsnote: FMPC Direct Indebtedness (Operating LOC $500,947.73 + Visa $71,680.00 + CEBA $60,000.00); per diem $104.38 thereafter, plus costs. Also guaranteed by McIvor, 985842 Alberta Ltd. and Faissal Mouhamad (personal guarantor/director - related party) each up to $3,250,000 principal, secured further by assignment of $3,250,000 minimum life insurance policy on Faissal's life. FMPC also guarantees McIvor's debt up to $2,500,000 (McIvor Guaranteed Indebtedness), demand issued but notice period not expired as of affidavit date (2022-08-19). · page: 4 · as of: 2022-08-10 · amount: 632627.73 · debtor: Faissal Mouhamad Professional Corporation · creditor: Royal Bank of Canada · currency: CAD · security: First GSA (2012-05-16) and Second GSA (2016-08-19) over all present and after-acquired personal property, perfected at APPR (search 2022-08-18)
- secured creditorsnote: Granted to secure Paradise McIvor's guarantee of McIvor's Direct Indebtedness up to $2,500,000 principal (McIvor Guaranteed Indebtedness); demand and notice of intention to enforce security issued but period not expired as of affidavit date (2022-08-19); no crystallized amount stated. · page: 7 · debtor: Paradise McIvor Developments Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated 2017-10-04 over all present and after-acquired personal property
- secured creditorsnote: Subordinated/postponed in priority to RBC's security interest in 985's assets pursuant to Priority Agreement dated 2016-08-12 (cession of rank). · page: 7 · debtor: 985842 Alberta Ltd. · creditor: Bank of Montreal · currency: CAD · security: Security interest granted by 985 to BMO
- secured creditorsnote: Promissory note face amount; caveat filed against land title. · page: 8 · as of: 2021-09-09 · amount: 385000 · debtor: 52 Wellness Centre Inc. · creditor: Ghalib Hadi · currency: CAD · security: Caveat (Reg. No. 221 059 533, registered 2022-03-21) referencing a promissory note dated 2021-09-09, charging the 52 Wellness Building
- secured creditorsnote: Blanket registrant naming FMPC, Faissal, 52 Dental and Delta Corp. as debtors; Fetoun Ahmad not named. Amount not stated. · page: 8 · debtor: Faissal Mouhamad Professional Corporation, Faissal Mouhamad, 52 Dental Corporation, Delta Dental Corp. · creditor: Canadian Western Bank (CWB) · currency: CAD · security: Security agreement registered at Alberta Personal Property Registry on 2022-04-26
- secured creditorsnote: Related party: Faissal is sole director and shareholder of 52 Wellness Centre Inc.; note date coincides with a $165,422.31 bank draft paid by 985 for benefit of 52 Wellness on the same date. · page: 8 · as of: 2021-09-09 · amount: 700000 · debtor: 52 Wellness Centre Inc. · creditor: Faissal Mouhamad · currency: CAD · security: Caveat (Reg. No. 221 059 534, registered 2022-03-21) referencing a promissory note dated 2021-09-09, charging the 52 Wellness Building
- secured creditorsnote: Individual serialized-collateral line items with per-unit values listed; not summed per reporting convention. · page: 188 · debtor: Faissal Mouhamad · creditor: Patterson Dental Canada, Inc. · currency: CAD · security: PPSA equipment financiers (PMSI class) - Security Agreement, Reg. No. 22070509451, registered 2022-07-05, expiring 2027-07-05; collateral itemized dental equipment (chairs, units, lights, X-ray, compressor, autoclaves, etc. under Invoice 9641090959)
- secured creditorsnote: Guarantee Liability demanded pursuant to 985's guarantee of FMPC's debt (FMPC Guarantees); demand letter dated 2022-07-28, plus per diem $102.45 thereafter. 985 also separately guaranteed McIvor's Direct Indebtedness up to $2,500,000 principal (McIvor Guaranteed Indebtedness) - demand issued but amount not stated and notice period not expired as of affidavit date (2022-08-19). · page: 1454 · as of: 2022-07-28 · amount: 557181.33 · debtor: 985842 Alberta Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated 2016-08-09 over all personal property, perfected at APPR; guarantee capped at $3,250,000.00 principal (Guarantee and Postponement of Claim dated 2016-08-12)