Alberta · Receivership (court-appointed)
Affidavit for Appointment of Receiver
Affidavit · 16 October 2023
What we verified from this filing2 verified
- secured creditorsnote: Amount is 'SCREO 700 Indebtedness' as of Oct 15, 2023, excluding legal costs to date, plus interest and costs continuing to accrue; $15,000,000 mortgage figure is the registered principal/facility limit, not the balance; loans to SCREO 700 and SCREO Gill are cross-collateralized (default under one is default under other) and cross-guaranteed · page: 20 · as of: 2023-10-15 · amount: 12242034.57 · debtor: SCREO I 700 2ND Inc. (SCREO 700) · creditor: Timbercreek Mortgage Servicing Inc. (Computershare Trust Company of Canada, in its capacity as bare trustee/nominee) · currency: CAD · security: First-ranking mortgage dated Dec 17, 2018 (principal amount $15,000,000, registered as Instrument No. 191 002 807) over SCREO 700 Lands (Kraft & Venator Buildings); first-priority general assignment of rents/leases (Instrument No. 191 002 808); first-ranking general security agreement (PPR Reg. No. 18121808988) over SCREO 700's personal property; beneficial owner's agreement charging SCREO 700 LP's beneficial interest; additionally secured by second-ranking limited recourse guarantee from SCREO Gill, backed by a second-ranking collateral mortgage over the SCREO Gill Lands (principal $12,000,000), second-priority assignment of rents, second-ranking GSA, and 2023 beneficial owner's agreement
- secured creditorsnote: Amount is 'SCREO Gill Indebtedness' as of Oct 15, 2023, excluding legal costs to date, plus interest and costs continuing to accrue; SCREO Gill Loan comprised of acquisition facility up to $30,200,000 and re-positioning facility up to $11,207,000 (facility limits, not balances); loans to SCREO 700 and SCREO Gill are cross-collateralized and cross-guaranteed; a $2.5 million reallocation from SCREO 700 Loan balance to SCREO Gill Loan balance (per Dec. 2022 amending agreements) had not been processed as of the affidavit due to default · page: 20 · as of: 2023-10-15 · amount: 26871042.14 · debtor: SCREO I Gill Inc. (SCREO Gill) · creditor: Timbercreek Mortgage Servicing Inc. (Computershare Trust Company of Canada, in its capacity as bare trustee/nominee) · currency: CAD · security: First-ranking mortgage dated Nov 9, 2018 over SCREO Gill Lands (Joffre Place & Life Plaza); first-priority general assignment of rents/leases; first-ranking general security agreement (PPR Reg. No. 18110827605) over SCREO Gill's personal property; beneficial owner's agreement charging SCREO Gill LP's beneficial interest; additionally secured by second-ranking limited recourse guarantee from SCREO 700, backed by a second-ranking collateral mortgage over the SCREO 700 Lands (principal $26,200,000), second-priority assignment of rents, second-ranking GSA, and 2023 beneficial owner's agreement