Alberta · Receivership (court-appointed)
Affidavit of Alexander Hayne
Affidavit · 20 December 2024
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What we verified from this filing5 verified
- secured creditorsnote: Original principal advanced was $4,500,000 (the '$4.5M Loan'); matured December 1, 2024; Debtors in default; balance shown is per statement (Exhibit 'O'); Gurpartap and Inderdeep Dhaliwal (directors/shareholders) executed as personal covenantors/guarantors · page: 12 · as of: 2024-12-19 · amount: 4569088.98 · debtor: To Let Housing Corporation (mortgagor/borrower) and Skyview Parking and RV Storage Ltd. (covenantor) · creditor: Domain Mortgage Corp. · currency: CAD · security: First-ranking mortgage/Debenture over the Industrial Property (Plan 7610456, Block B, LTO Instrument No. 241 100 492), Assignment of Rents, Assignment and Postponement of Claims, general security interest in all present and after-acquired personal property
- secured creditorsnote: Original principal advanced was $2,500,000 (the '$2.5M Loan'); matured December 1, 2024; Debtors in default including failure to pay down prior-ranking loans on the Rockyview Lands; balance shown is per statement (Exhibit 'P'); Gurpartap and Inderdeep Dhaliwal (directors/shareholders) are personal covenantors · page: 12 · as of: 2024-12-19 · amount: 2574753.14 · debtor: To Let Housing Corporation (mortgagor), Skyview Parking and RV Storage Ltd. (covenantor), the Dhaliwals and five Alberta numbered companies (additional mortgagors) · creditor: Domain Mortgage Corp. · currency: CAD · security: Second-ranking mortgage/Debenture over the Industrial Property (LTO Instrument No. 241 101 575) plus mortgages over various other lands including the Rockyview Lands (Plan 0212613, Block 1, Lot 2) which are encumbered by prior-ranking mortgages; Assignment of Rents; Assignment and Postponement of Claims; first floating charge and security interest over all present and after-acquired property
- secured creditorsnote: Deemed-trust/regulatory class claim (CRA writs); registered without Domain's knowledge, contrary to loan covenants requiring good standing with CRA; two separate writs, amounts not aggregated by the document · page: 12 · as of: 2024-10-28 · debtor: Skyview Parking and RV Storage Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Writs for seizure and sale registered in the Alberta Personal Property Registry against vehicle collateral forming part of Domain's Security (Registration No. 24102832393 - $201,559.18; Registration No. 24102832472 - $1,090,492.70)
- secured creditorsnote: Registration made contrary to the terms of the Commitment Letters and Debentures, which prohibited subsequent encumbrances without Domain's consent; figure is the face amount of the promissory note, not a confirmed balance · page: 13 · amount: 1200000 · debtor: To Let Housing Corporation · creditor: Three unnamed individuals (promissory note holders / caveat holders) · currency: CAD · security: Caveat registered on title to the Industrial Property (LTO Registration No. 241 294 232) relating to a $1,200,000 promissory note
- secured creditorsnote: Individual; registration is only pending and made contrary to terms of the Commitment Letters and Debentures per the affiant · page: 13 · as of: 2024-11-27 · debtor: To Let Housing Corporation · creditor: K. Grant Watson · currency: CAD · security: Pending registration submitted against title to the Industrial Property (nature/amount not disclosed on the document face)