Alberta · Receivership (court-appointed)
Notice of Application returnable August 16, 2021
Application / notice of application · 16 August 2021
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 filing3 verified
- secured creditorsnote: Charge in favour of Receiver for benefit of Infinityre's creditors, subordinate in priority to CWT mortgage; to be discharged/extinguished upon closing of the Infinityre Proposal (status: pending resolution, ultimately discharged). · page: 2 · debtor: Infinityre Inc. · creditor: PricewaterhouseCoopers Inc. (Receiver), for benefit of Infinityre's creditors · currency: CAD · security: Court-granted charge (Infinityre Charge) over the Infinityre Lands per Receivership Order of May 21, 2020, registered June 9, 2020 (Registered Order) and caveat registered July 8, 2020 (Receiver's Caveat); to be extinguished/discharged upon closing of Infinityre Proposal
- secured creditorsnote: Interim distribution of $2,650,000 approved to ATB from receivership proceeds; this is a distribution amount, not a stated outstanding balance owed to ATB. · page: 3 · debtor: Infinity Dental Group (Infinity Dental South, Infinity Dental Ltd., Omar Nsair Professional Corporation, Hussien Nsair Professional Corporation) · creditor: ATB Financial · currency: CAD · security: First ranking security interest on all present and after-acquired personal property (opinion received by Receiver)
- secured creditorsnote: Amounts owed to CWT detailed in correspondence from Infinityre's counsel (Nov 13, 2020) but figures not stated on these pages; details of resolution/estimates are in sealed Confidential Appendices. · page: 3 · debtor: Infinityre Inc. · creditor: Canadian Western Trust Company (CWT) · currency: CAD · security: Mortgage registered against the Infinityre Lands, in priority to the Receiver's registered order and caveat (Infinityre Charge)