Alberta · Receivership (court-appointed)
Affidavit of Marlene Starenky
Affidavit · 5 July 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- secured creditorsnote: Floor amount, document states AH Ltd. 'owes RBC a significant amount exceeding $3,637,133.67, plus interest from and after July 2, 2024'. Aggregates AH Direct Indebtedness (Operating Line of Credit #85005487-001 $1,133,488.20; Visa #4865xxxxxxxx4058 $112,929.91; Business Account ending 3458 $140,713.08; US Account ending 1186 $27.48 - all balances as at July 2, 2024) and AH Indirect Indebtedness (AH Guarantee of 145 Ltd.'s debt, limited to principal $2,250,000.00 plus interest from April 9, 2024). 145 Ltd. irrevocably postponed its own security interest in AH Ltd. (PPR registration #21111931207) to RBC's rights under this GSA on Sept 20, 2023. Richard McNeill (director/majority shareholder) personally guaranteed this indebtedness, limited to $1,200,000.00 (personal guarantee, unsecured by specific registered security noted in this document). · page: 7 · as of: 2024-07-02 · amount: 3637133.67 · debtor: Amalgamated Heating Ltd. (AH Ltd.) · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated September 6, 2022 - first-ranking security interest in all present and after-acquired personal property of AH Ltd. (PPR registration #22082513040)
- secured creditorsnote: Floor amount, document states 145 Ltd. 'owes RBC a significant amount exceeding $3,490,414.18, plus interest from and after July 2, 2024'. Aggregates 145 Direct Indebtedness (Demand Loan #03009 85002369 001, $2,290,414.18 as at July 2, 2024) and 145 Indirect Indebtedness (145 Guarantee of AH Ltd.'s debt, limited to principal $1,200,000.00 plus interest from April 9, 2024). Richard McNeill (director/sole shareholder of 145 Ltd.) personally guaranteed this indebtedness, limited to $2,250,000.00 (personal guarantee, unsecured by specific registered security noted in this document). · page: 7 · as of: 2024-07-02 · amount: 3490414.18 · debtor: 1451728 Alberta Ltd. (145 Ltd.) · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated September 6, 2022 - first-ranking security interest in all present and after-acquired real and personal property of 145 Ltd. (PPR registration #22082512324); Collateral Mortgage dated September 20, 2022 (LTO instrument #232032984 and 232032985) securing principal $3,500,000.00 over Lands (27278 Highway 628, Acheson, Alberta); Assignment of Rents dated September 20, 2022