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
- secured creditorsnote: Original mortgage principal of $8,000,000; matured May 1, 2023, extended to September 1, 2023; CMLS then refused to renew due to Applicants'/hospitality-sector financial difficulties; current outstanding balance/status not stated in document - status of security post-maturity unclear · page: 8 · as of: 2023-09-01 · amount: 8000000 · debtor: Grafton Connor Group (Applicants) · creditor: CMLS Financial · currency: CAD · security: First mortgage (conventional, originally 6-year term) over Applicants' real estate
- secured creditorsnote: Bridge loan credit agreement dated 08 April 2024, as amended; interest rate 14.75% (RBC prime + 9.8%); amount stated as 'currently owe approximately $12,000,000' (no exact-dated statement provided; as_of taken as affidavit swearing date); also secured by Unlimited Personal Guarantee from Gary Hurst (President/CEO), a related-party guarantor · page: 13 · as of: 2025-08-07 · amount: 12000000 · debtor: Grafton Connor Group (Applicants) · creditor: Ducimus Capital Inc. · currency: CAD · security: General Security Agreement over all assets of the Applicants; Collateral Mortgage over downtown Halifax real estate; Corporate guarantees; Assignment of leases and rents
- secured creditorsnote: Credit agreement dated 29 June 2018, amended 14 March 2019; interest rate 8%; amount stated as 'total advanced approximately $5,000,000' (may represent cumulative advances rather than current outstanding balance; no balance date given); also secured by Unlimited Personal Guarantee from Gary Hurst (President/CEO), a related-party guarantor, dated 29 June 2018 · page: 13 · amount: 5000000 · debtor: Bedford Investments Limited (primarily), Grafton Connor Group · creditor: Park Lawn Cemetery Care and Maintenance Trust (as assigned by Westminster Care and Maintenance Trust) · currency: CAD · security: Collateral Mortgage dated 29 June 2018 against downtown Halifax real estate
- secured creditorsnote: Deemed trust class (HST arrears accrued during COVID-19, plus penalties and interest); includes approximately $814,477 pre-COVID tax debt; CRA withholding 15% of daily POS receipts through Bedford Investments Limited and T.L.B Holdings Limited (~$80,000/month); interest charged at ~7% (~$1,000/day) · page: 14 · as of: 2025-08-05 · amount: 5000000 · debtor: Grafton Connor Group (Applicants) · creditor: Canada Revenue Agency (CRA) · currency: CAD