Alberta · Receivership (court-appointed)
Affidavit of John Hermann
Affidavit · 28 February 2025
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 filing4 verified
- secured creditorsnote: 'Feeders Direct Indebtedness' comprises multiple facilities with balances stated as at Feb 26, 2025, no total given in document: Loan 0634-1996-392 $8,038,307.93; Loan 0525-6976-966 $155,578.91; Loan 0525-6977-395 $225,839.90; Loan 0525-6977-416 $376,400.13; Loan 0525-6979-278 $95,475.64; Loan 0525-6979-665 $2,649,854.79; Lease 38051 $56,241.73; Lease 39389 $223,036.24; Loan 5264****0452 $1,167.87 (each plus accruing interest). Security also secures Feeders' guarantees of Group's and Thrive's debts (First/Second Feeders Indirect Indebtedness), amounts equal to Group/Thrive direct debt entries below and not separately stated. Principal/director John Jeffrey Ball personally guaranteed this indebtedness limited to $2,500,000 plus interest from Dec 13, 2024 (Ball-Feeders Guarantee) - personal guarantee, individual not a corporate creditor. Default declared; demand and NOI/FDMA notices issued Dec 13, 2024; subject to General Priority Agreement with Farm Credit Canada dated Sept 15, 2020. · page: 2 · as of: 2025-02-26 · debtor: Ballco Feeders Inc. · creditor: Bank of Montreal · currency: CAD · security: Feeders Mortgage (land, principal limit $7,600,000 plus interest/costs, registered Sept 29, 2020, reg #201189909); Feeders GSA (all present/after-acquired personal & real property, Sept 29, 2020); Feeders Equitable Mortgage (floating charge caveat registered Dec 4, 2024, registered amount $4,000,000); First & Second Feeders Bank Act Security (s.427 Bank Act, effective Oct 8-9, 2020, reg #01328534); PPSA/Land Charge registrations (Sept 16, 2020 personal property; Dec 2, 2024 real property)
- secured creditorsnote: 'Group Direct Indebtedness' single loan #0634-1996-384. Group also indirectly liable via cross-guarantees for Feeders' full debt (First Group Indirect Indebtedness, Group-Feeders Guarantee Oct 4, 2023) and Thrive's debt (Second Group Indirect Indebtedness, Group-Thrive Guarantee Sept 29, 2020 granted by amalgamation predecessor 1231121 Alberta Inc.) - amounts equal already-stated Feeders/Thrive balances, not separately quantified. Default declared; demand and NOI/FDMA notices issued Dec 13, 2024. · page: 3 · as of: 2025-02-26 · amount: 63402.57 · debtor: Ballco Group Corp. · creditor: Bank of Montreal · currency: CAD · security: Group Mortgage (land, principal limit $7,600,000 plus interest/costs, reg #201189959); Group GSA (all present/after-acquired personal & real property, Nov 30, 2021); Group Equitable Mortgage (floating charge caveat registered Dec 4, 2024, registered amount $4,000,000); PPSA/Land Charge registrations (Aug 20, 2020 personal property; Dec 2, 2024 real property)
- secured creditorsnote: 'Thrive Direct Indebtedness' single loan #5264****0445. Thrive also indirectly liable via cross-guarantees for Feeders' full debt (First Thrive Indirect Indebtedness, Thrive-Feeders Guarantee Oct 4, 2023) and Group's debt (Second Thrive Indirect Indebtedness, Thrive-Group Guarantee Oct 4, 2023) - amounts equal already-stated Feeders/Group balances, not separately quantified. Principal/director John Jeffrey Ball personally guaranteed this indebtedness limited to $70,000 plus interest from Dec 13, 2024 (Ball-Thrive Guarantee) - personal guarantee, individual not a corporate creditor. Default declared; demand and NOI/FDMA notices issued Dec 13, 2024. · page: 3 · as of: 2025-02-26 · amount: 1599.86 · debtor: Thrive Provisions Inc. · creditor: Bank of Montreal · currency: CAD · security: Thrive GSA (all present/after-acquired personal & real property, Sept 29, 2020); PPSA/Land Charge registrations (Aug 20, 2020 personal property; Dec 2, 2024 real property)
- secured creditorsnote: Priority/subordination arrangement with BMO referenced but not detailed; FCC's claim amount not stated in this filing. · page: 7 · debtor: Ballco Feeders Inc. · creditor: Farm Credit Canada · currency: CAD · security: Referenced in a General Priority Agreement among Feeders, BMO and Farm Credit Canada dated September 15, 2020; terms/amounts of FCC's security not disclosed in this excerpt