Alberta · Receivership (court-appointed)
Brief of National Bank, filed June 10, 2025
Application / notice of application · 10 June 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 filing7 verified
- applicantNATIONAL BANK OF CANADA
- courtCOURT OF KING’S BENCH OF ALBERTA
- court file no2401-00953
- appointeeBDO Canada Limited
- appointee rolereceiver and manager
- secured creditorsnote: Aggregate indebtedness as at Oct 22, 2024 (Redemption Order date), plus accruing interest, costs, fees (solicitor-client full indemnity basis), and expenses; guaranteed by Zulfikar Boga, sole director of the Debtor, pursuant to a $4,000,000 Limited Liability Guarantee dated Sept 22, 2016 (personal guarantee, related party) · page: 3 · as of: 2024-10-22 · amount: 4843428.14 · debtor: Sunridge Landing Inc. · creditor: National Bank of Canada · currency: CAD · security: General Security Agreement dated Sept 22, 2016 (registered AB PPR Oct 26, 2016, reg. no. 16102612331); Land Mortgage dated Sept 22, 2016, principal amount $6,500,000 (registered against title to the Lands Oct 21, 2016, instrument no. 161 251 006); General Assignment of Rents and Certain Lease Rights dated Sept 22, 2016 (registered Oct 21, 2016, instrument no. 161 251 007); Credit Facilities comprised demand non-revolving loan facility (max $5,006,642.45), CEBA loan facility (max $60,000), and Business Visa Credit Card (max $30,000)
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 and section 13(2) of the Judicature Act, R.S.A. 2000, c. J-2