Alberta · Receivership (court-appointed)

Application, returnable Oct 31 - Filed October 20, 2025

Application / notice of application · 20 October 2025

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What we verified from this filing1 verified

secured creditorsnote: Original loan principal was $1,650,000.00 under Financing Agreement dated March 7, 2025; full accelerated indebtedness pleaded in Amended Statement of Claim was $1,720,000.68 as of September 23, 2025, with interest continuing to accrue at 18.00% per annum default rate. NOI to Enforce Security served September 12, 2025. · page: 3 · as of: 2025-09-23 · amount: 1720000.68 · debtor: Sweetpal Singh Chauhan, 2435421 Alberta Ltd., 2622775 Alberta Ltd., and 0788197 B.C. Ltd. (Borrower Group) · creditor: Syndicate of seven lenders (1843838 Alberta Ltd., Germain Business Investments Inc., Global Network Solutions Inc., Kasam Investments Ltd., Laurel Erickson, Steben Investments Ltd., and Ty Wilson Professional Corporation) · currency: CAD · security: First-ranking collateral Mortgage against Lands at 73 Superior Street, Devon, Alberta; General Security Agreement from all members of the Borrower Group; pre-signed Consent Judgment; pre-signed Consent Redemption Order