New Brunswick · Receivership (court-appointed)
Affidavit of Joel Robbins
Affidavit · 15 November 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing3 verified
- secured creditorsnote: Figures are facility/credit limits, not stated outstanding balances - no balance figure stated in these pages. Guaranteed by D&P Gooder Holding Ltd. and IBC Food Equipment, Inc., each to a maximum of $1,250,000.00 plus interest from demand (related-party guarantors, affiliated companies under common ownership/David Flanagan). Demand letters re facility, credit card and GSA issued Nov 27, 2023. · page: 2 · debtor: Ifoodequipment.com Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated June 16, 2021 over all present and after-acquired personal property (first-ranking), registered under PPSA; Revolving demand credit facility, facility limit $1,200,000.00 (Exhibit D); Avion Visa Business credit card, limit $50,000.00 (Exhibit E)
- secured creditorsnote: Figures are facility/credit limits, not stated outstanding balances. Guaranteed by D&P Gooder Holding Ltd. and Ifoodequipment.com Inc., each to $310,000.00 plus interest from demand (related-party guarantors, affiliated companies). Demand letters re facility, credit card and GSA issued Nov 27, 2023. · page: 4 · debtor: IBC Food Equipment, Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated June 16, 2021 over all present and after-acquired personal property (first-ranking), registered under PPSA; Revolving demand credit facility, facility limit $300,000.00 (Exhibit J); Avion Visa Business credit card, limit $10,000.00 (Exhibit K)
- secured creditorsnote: Figures are facility limits/mortgage registration amounts, not stated outstanding balances. Guaranteed by Ifoodequipment.com Inc. and IBC Food Equipment, Inc., each to $1,222,000.00 plus interest from demand (related-party guarantors, affiliated companies). Demand letters re facility, credit card and GSA issued Nov 27, 2023. · page: 5 · debtor: D & P Gooder Holding Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated June 16, 2021 over all present and after-acquired personal property, registered under PPSA; Two non-revolving demand facilities, limits $1,000,000.00 and $222,000.00 (Exhibit P); Avion Visa Business credit card, limit $10,000.00 (Exhibit Q); Collateral mortgage and assignment of rents dated August 4, 2021 over 170 Millennium Drive, Moncton, NB (PID No. 729129), registered amount $1,222,000.00 (Exhibit U); further collateral mortgage to maximum $1,000,000.00 executed pursuant to April 26, 2024 Forbearance Agreement extension