Saskatchewan · NOI
Affidavit of Boyd (exhibits available upon request) .pdf
Affidavit · 2 April 2018
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 filing2 verified
- secured creditorsnote: Updated payout statement (Exhibit K) used as amount. Original 'Initial Offer' facilities were a $5.3M term loan and $1M revolving term loan (facility limits, not balances), later amended so borrower became Asset Co. with 'Borrower' meaning combined results of Asset Co., Hold Co., and S. Wilson. Personal guarantee by directors Boyd and Erin Wilson (individuals, not companies). Prose approximation: 'total amount owing to the Secured Creditors is slightly in excess of $7 million' (combined Roynat + Scotia). · page: 10 · as of: 2018-03-06 · amount: 4699852.13 · debtor: 101292883 Saskatchewan Ltd. ("Asset Co.") — principal borrower under amended facility; S. Wilson Construction Ltd. assets remain subject to the Roynat Security · creditor: Roynat Inc. · currency: CAD · security: $6.3 million mortgage dated May 7, 2015 against Real Property parcel #109310846; $6.3 million demand debenture dated May 7, 2015 over all present and future assets of S. Wilson; general security agreements dated April 4, 2017 over all present and future assets of Asset Co. and Hold Co.; corporate guarantees by Asset Co./Hold Co. (Apr 4, 2017) and Hold Co./S. Wilson (Jun 2, 2017); joint and several personal guarantee by Boyd and Erin Wilson dated May 15, 2015
- secured creditorsnote: Updated payout statement (Exhibit M) used as amount. Underlying facilities (facility limits, not balances): $5 million operating line (Sept 8, 2016); lease financing $1,769,926 of equipment (May 20, 2016, amended Apr 4, 2017); Scotiabank Visa Business Card with $250,000 credit limit (June 2, 2015). Personal guarantees by directors Boyd Wilson (Mar 4, 2013) and Erin Wilson (Oct 25, 2013) — individuals, not companies. Prose approximation: 'total amount owing to the Secured Creditors is slightly in excess of $7 million' (combined Roynat + Scotia). · page: 12 · as of: 2018-03-07 · amount: 2341133.47 · debtor: S. Wilson Construction Ltd. · creditor: Bank of Nova Scotia (Scotia) · currency: CAD · security: $1 million mortgage dated "March 2017" against Real Property parcel #109310846; general security agreement dated March 4, 2013 over all present and after-acquired property of S. Wilson; general security agreements dated April 4, 2017 over all present and after-acquired property of Asset Co. and Hold Co.; corporate guarantees dated April 4, 2017 by Asset Co. and Hold Co.