Saskatchewan · Receivership (court-appointed)

Affidavit of David Quinn

Affidavit · 30 June 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: Total indebtedness as demanded June 30, 2023 (10-day NOI under BIA s.244); breakdown per demand letter: Operating Line $247,566.95, Term Loan $3,431,329.53, Visa $19,855.06, totalling $3,698,751.54 as at June 26, 2023 (exact dated balance used; prose in affidavit also states same figure 'totalled $3,698,751.54 as at June 26, 2023'). Mortgage principal of $3,979,000.00 is original registered principal, not outstanding balance. · page: 3 · as of: 2023-06-26 · amount: 3698751.54 · debtor: Ability Society of Alberta · creditor: The Toronto-Dominion Bank · currency: CAD · security: Collateral Mortgage dated March 10, 2017 (registered/principal amount $3,979,000.00) over Mortgaged Lands (Surface Parcel #104091195, Lot A Blk/Par 5 Plan No 84MJ01102 Ext. 0); General Assignment of Rents and Leases dated March 10, 2017; General Security Agreement dated March 10, 2017 over all present and after-acquired personal property (Letter Agreement describes GSA as a 'Second charge', with Mortgage as 'First charge')