British Columbia · Receivership (court-appointed)
Affidavit #1 of Mark Shuparski (January 13, 2026)
Affidavit · 13 January 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 filing2 verified
- secured creditorsnote: Principal amount of $1,000,000 stated as owing pursuant to two separate $500,000 advances: (1) the '2021 Loan' originally advanced by Pacific Capital Investments Ltd. (a company controlled by the petitioner's director/officer, Mark Shuparski - related party) and later assigned to the Petitioner, and (2) the '2023 Loan' advanced directly by the Petitioner and evidenced by promissory note dated October 11, 2023. Both loans repayable on demand with 5% interest per annum compounding monthly; interest stated to be accruing from and including November 1, 2025. Petitioner demanded repayment by letter dated January 6, 2026. Debtor consented to earlier enforcement of the security (Exhibit F). · page: 2 · as of: 2026-01-13 · amount: 1000000 · debtor: Coastal Craft Yachts Ltd. · creditor: Hardy Island Investments Ltd. · currency: CAD · security: General Security Agreement dated October 11, 2023 - security interest/mortgage/charge over all present and after-acquired personal property (inventory, equipment, accounts, intangibles, proceeds, etc.) of the Debtor; also secured by Mortgage (Form 7)/Collateral Marine Agreement over the Vessel contemplated in the 2021 Loan Agreement
- secured creditorsnote: Stated as 'approximately $100,000 in unpaid statutory withholdings' per affiant's understanding (advised by the debtor's principal); deemed trust class, ranks ahead of ordinary security. · page: 3 · amount: 100000 · debtor: Coastal Craft Yachts Ltd. · creditor: His Majesty the King in Right of Canada (Canada Revenue Agency) · currency: CAD · security: Deemed trust claim for unremitted source deductions/statutory withholdings