Alberta · CCAA
Affidavit of R. French - 2026.06.29 (Part 1 of 4)
Affidavit · 25 June 2026
What we verified from this filing4 verified
- financial positionnote: Total assets of $38.7 million comprised of $11.2 million current assets (primarily accounts receivable and cash) and non-current assets including $20.5 million goodwill and other intangibles. Total liabilities figure was stated to begin in the source text ('The Borrower reported total liabilities of...') but the amount is not present within the provided pages. · page: 13 · as at: 2025-12-31 · basis: 2025 audited financial statements (Borrower) · scope: Borrower (MTE Logistix Limited Partnership) entity-level · currency: CAD · total assets: 38700000
- secured creditorsnote: Aggregated class per PPRS searches (BC and Alberta): DE Lage Landen Financial Services Canada Inc.; CWB National Financing Leasing Inc.; G.N. Johnston Equipment Co. Ltd.; Wajax Limited; Wells Fargo Equipment Finance Company; Ten Canada Ltd; Meridian OneCap Credit Corp. Amounts not stated in affidavit. · page: 13 · debtor: MTE Group (CCAA Parties) · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: PPSA registrations for equipment, motor vehicle, or office equipment/supply financing/leasing
- secured creditorsnote: Senior-secured creditor of the CCAA Parties; also acting as proposed Interim Lender/stalking horse credit bidder in the CCAA proceeding. Balance is the acknowledged indebtedness in the Forbearance Agreement dated October 3, 2025 (as at Sept 16, 2025); $56 million referenced elsewhere in affidavit is the original facility principal advanced, not the current balance. Additional Obligors (A.P.E. Ventures No. 7 Ltd., Hillcore MTE Investments LP, Hillcore Industrial Ltd. (100% shareholder of MLG GP - related party), 1139604 Alberta Ltd.) each provided limited recourse guarantees/share pledges as further collateral security but are not CCAA applicants/parties. · as of: 2025-09-16 · amount: 46166666.72 · debtor: MTE Logistix Limited Partnership (Borrower), by its general partner MLG GP Ltd. · creditor: Fiera Private Debt Fund VI LP (by its general partner Fiera Private Debt Fund GP Inc.) · currency: CAD · security: General Security Agreement (Borrower and Guarantors other than MLG GP); Unlimited Guarantees and General Security Agreements from Active Warehousing, Hydrive, MTE Calgary, MTE Edmonton, MTE Management, Porter Warehousing; Limited Recourse Guarantee and Securities Pledge from MLG GP (pledge of MLG GP's units in MTE Logistix); Assignments of insurance; original Credit Agreement (Aug 17, 2021) facility limit $56,000,000 (principal advanced on closing)
- secured creditorsnote: Components (not summed): Letters of Credit outstanding ~$567,722; Credit Card Obligations $30,000 (to be reduced to $0 by June 29, 2026, borrower seeking to retain $30,000 usage during CCAA); Line of Credit balance nominal or $0 (managed to $0 in connection with filing). ATB holds first-priority/inventory-and-receivables priority over Fiera Lender pursuant to Priority Agreement (intercreditor agreement) dated July 22, 2022. · as of: 2026-06-25 · debtor: MTE Logistix Limited Partnership (Borrower) · creditor: ATB Financial · currency: CAD · security: Secured revolving line of credit, letters of credit facility, and corporate credit card facility; maximum facility amount $3,000,000 (2021 ATB Commitment dated Aug 12, 2021, replaced by 2026 ATB Commitment dated March 10, 2026)