Alberta · Receivership (court-appointed)
Filed-2023-10-23-Receiver's-First-Report
Court officer report · 23 October 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 filing6 verified
- secured creditorsnote: Lease buyout/payout statement amount as of buyout issue date; vehicle subsequently released to SCL by Receiver after payment of equity of $2,088.24 plus $775.00; security realized/satisfied via this release. · page: 10 · as of: 2023-07-18 · amount: 72687.49 · debtor: Atlas Growers Ltd. · creditor: Sherwood Credit and Leasing Inc. (SCL) · currency: CAD · security: Registered PPSA security interest (financing lease) against 2022 Chevrolet Tahoe; Receiver's counsel determined the SCL lease to be a financing lease (not a true lease), valid and enforceable
- secured creditorsnote: Lease buyout/payout statement amount as of buyout issue date; vehicle subsequently released to SCL by Receiver after payment of calculated equity of $2,045.38 plus $775.00; security realized/satisfied via this release. · page: 11 · as of: 2023-08-30 · amount: 63954.62 · debtor: Atlas Growers Ltd. · creditor: Sherwood Credit and Leasing Inc. (SCL) · currency: CAD · security: Registered PPSA security interest (financing lease) against 2022 Chevrolet Silverado; Receiver's counsel determined the SCL lease to be a financing lease (not a true lease), valid and enforceable
- secured creditorsnote: Amount per claim confirmed to CRA; classified as deemed-trust class indebtedness. · page: 12 · amount: 136556 · debtor: Atlas Biotechnologies Inc. and Atlas Growers Ltd. · creditor: Canada Revenue Agency (CRA) - Source Deductions · currency: CAD · security: Deemed trust claim (source deductions)
- secured creditorsnote: Amount per claim confirmed to CRA; includes Excise Taxes payable on cannabis products; Receiver's legal counsel is completing a future priority opinion regarding the Excise Tax component; classified as deemed-trust class indebtedness. · page: 12 · amount: 3401460 · debtor: Atlas Biotechnologies Inc. and Atlas Growers Ltd. · creditor: Canada Revenue Agency (CRA) - GST/Excise Tax · currency: CAD · security: Deemed trust claim (GST, including Excise Tax on cannabis products)
- secured creditorsnote: Amount of indebtedness not stated in this report; Receiver's counsel security opinion re AFSC security against Personal Property and Facility Lands still in progress (para 50); AFSC is the petitioning/plaintiff creditor in these receivership proceedings. · page: 13 · debtor: Atlas Growers Ltd. and Atlas Biotechnologies Inc. · creditor: Agriculture Financial Services Corporation (AFSC) · currency: CAD · security: Registered security interest over all present and after-acquired personal property of Atlas Growers and Atlas Bio (PPR); mortgage registered against the Facility Lands (Atlas Bio)
- secured creditorsnote: Represents the portion of WEPPA payments made by Service Canada to date ($90,750.34 total paid) that constitutes a secured super-priority charge; remaining employee claims still being monitored. · page: 13 · as of: Receiver's First Report date · amount: 18831.68 · debtor: Atlas Biotechnologies Inc. and Atlas Growers Ltd. · creditor: Her Majesty the Queen in Right of Canada (Service Canada) - WEPPA · currency: CAD · security: Statutory superpriority charge under the Wage Earner Protection Program Act ranking in priority to other secured creditors over the current assets of Atlas