Alberta · Receivership (court-appointed)
Affidavit of C Stark
Affidavit · 22 August 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 filing2 verified
- secured creditorsnote: Debt comprised of Loan 101010442142 ($19,571,203.32) and Loan 101017107373 ($25,347.68) per document's own stated total of $19,596,551.00 as at June 21, 2024, plus further accruing costs/interest not quantified here; personal guarantees given by Parmjit Nijjar, Priya Bains, Piara Bains, Jessal Parmar and Kuldeep Khathar (individuals, not companies); Demand Notes executed Oct 22, 2018 and Apr 5, 2019 affirming obligations; borrower in default under Forbearance Agreements (2023-2024) · page: 2 · as of: 2024-06-21 · amount: 19596551 · debtor: Rocky Mountain Alberta Partners Ltd. · creditor: Canadian Western Bank · currency: CAD · security: General Security Agreement (Oct 22, 2018) over all present and after-acquired personal and real property; Mortgage (Oct 22, 2018, instrument 181 257 185) over the Rocky Mountain Plaza lands securing up to $25,000,000.00 plus interest at prime+10% (registered principal, not balance); General Assignment of Rents and Leases (Oct 22, 2018, caveat 181 257 186); Environmental Agreement and Indemnity (Oct 22, 2018); Hypothecation of Bank Balances (Nov 25, 2019)
- secured creditorsnote: Deemed trust/quasi-governmental claim; document states Borrower owes tax arrears to CRA and a Requirement to Pay was issued (Exhibit T), but amount is not stated on these pages · page: 4 · debtor: Rocky Mountain Alberta Partners Ltd. · creditor: Canada Revenue Agency · currency: CAD