Alberta · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 7 February 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 filing4 verified
- financial positionnote: Total Shareholders' Equity of $23,055,656 also reported on same balance sheet; figures are pre-filing (prior to November 8, 2022 receivership appointment). · page: 8 · as at: 2022-10-08 · basis: unaudited consolidated financial statements · scope: consolidated - Enterra Feed Corporation (Company) · currency: CAD · total assets: 46161956 · total liabilities: 23106300
- secured creditorsnote: Amount stated 'plus interest, fees and other expenses' per Affidavit of Jim Taylor sworn November 7, 2022; described by Receiver as the senior secured creditor and 'fulcrum creditor'; Forage is also the Applicant/Purchaser in the RVO transaction (related-party dynamic as purchaser of shares via credit bid). · page: 8 · as of: 2022-09-08 · amount: 9951781 · debtor: Enterra Feed Corporation · creditor: Forage Subordinated Debt LP III · currency: CAD · security: General Security Agreement dated May 15, 2019 (Loan Agreement dated May 15, 2019); referred to as 'First Lien Obligations' in Subscription Agreement
- purchaserForage Subordinated Debt LP III
- sale outcometext: Receiver's request for an approval and reverse vesting order authorizing and approving the Transaction · scope: whole_business · status: pending_approval