Alberta · Receivership (court-appointed)
Bench Brief
Application / notice of application · 8 August 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 filing8 verified · 1 withheld
- applicantKV Capital Inc.
- commencement date10 August 2023
- court file no2303 12261
- appointeeMNP Ltd.
- appointee rolereceiver and manager
- secured creditorsnote: Balance outstanding as of date of Notice of Intention to Enforce Security (June 19, 2023), with per diem interest accruing at $2,318.08. Prose elsewhere describes indebtedness as 'in excess of $6,700,000.00' (para 1) and 'over $6,800,000' (para 25, reflecting accrued interest by application date); those are approximations of the same debt. Facility/mortgage amended mid-2022 to increase principal indebtedness ceiling from $5,500,000 to $6,500,000 (registered principal amount, not a balance); total advances of $6,500,000 made between Jan 2021 and Apr 2023. · page: 5 · as of: 2023-06-19 · amount: 6679729.4 · debtor: Jasper Summerlea Shopping Center Ltd. · creditor: KV Capital Inc. · currency: CAD · security: KV Mortgage (real property mortgage), KV Assignment of Rents, and KV GSA (general security interest over all present and after-acquired personal property); first-priority registered security against Jasper Property and against personal property (excepting a registration for a vehicle)
- secured creditorsnote: Document states aggregate mortgage registrations of $7,200,000.00; this is a registered/registration amount, not a stated outstanding balance. Subordinate in priority to the KV Mortgage and KV Assignment of Rents. · page: 5 · debtor: Jasper Summerlea Shopping Center Ltd. · creditor: West Edmonton Truckland Ltd. · currency: CAD · security: Subordinate mortgage registrations against the Jasper Property
- statutory basiss. 243(1) of the Bankruptcy and Insolvency Act, s. 13(2) of the Judicature Act, and s. 65(7) of Personal Property Security Act
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.