New Brunswick · CCAA
Affidavit of Andrea Jamnisek
Affidavit · 18 September 2023
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 filing10 verified
- secured creditorsnote: Revolving Loans outstanding principal as of date hereof; includes $2.5 million Overadvance; excludes interest and fees · page: 6 · as of: 2023-09-18 · amount: 12725516.67 · debtor: SSSL, CCSI, BTW, Can-Am (Borrowers); SSSI, Bridge, AFM (Guarantors) · creditor: The Toronto-Dominion Bank · currency: CAD · security: Blanket senior security over all property, assets and undertaking of the Debtors: Guarantee, General Security Agreement, U.S. Security Agreement, limited recourse guarantees and share pledges (102446/102447), collateral mortgages, Bank Act s.427 security
- secured creditorsnote: Term Loan outstanding principal as of date hereof; equals stated maximum facility amount of $13 million · page: 6 · as of: 2023-09-18 · amount: 13000000 · debtor: SSSL, CCSI, BTW, Can-Am (Borrowers); SSSI, Bridge, AFM (Guarantors) · creditor: The Toronto-Dominion Bank · currency: CAD · security: Same blanket security as Revolving Loans (GSA, guarantees, mortgages, Bank Act security)
- secured creditorsnote: VISA facility outstanding balance as of date hereof · page: 6 · as of: 2023-09-18 · amount: 28081.04 · debtor: SSSL, CCSI, BTW, Can-Am (Borrowers); SSSI, Bridge, AFM (Guarantors) · creditor: The Toronto-Dominion Bank · currency: CAD · security: Same blanket security as other TD facilities
- secured creditorsnote: Amounts are facility ceilings, not outstanding balances; senior to Applicant on specified equipment only · page: 8 · debtor: SSSL (letter offer July 3, 2020); CCSI and BTW as borrowers, Can-Am, Bridge, SSSL and SSSI as guarantors (letter offer December 18, 2020) · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: BDC Equipment Loans - maximum principal amounts of $2 million and $1 million (facility limits, not stated balances); priority over TD on specified equipment (BDC Priority Equipment Collateral) per BDC Equipment Loan Priority Agreement
- secured creditorsnote: Amount is facility ceiling, not stated balance; part of BDC Priority Loans senior to Applicant on this collateral · page: 9 · debtor: CCSI and BTW · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: BDC Mortgage Loan - maximum principal amount of $863,000 secured by mortgages on 181 Milton Ave., Summerside, PEI and 1368 Route 112, Searletown, PEI
- secured creditorsnote: Amount is facility ceiling, not stated balance; postponed and subordinated to Applicant per BDC Term Loan Priority Agreement · page: 9 · debtor: Debtors (unspecified) · creditor: BDC Capital Inc. · currency: CAD · security: BDC Capital Loan - maximum principal amount of $3 million per letter offer dated January 6, 2021
- secured creditorsnote: Subordinated and postponed in all respects to obligations owing to the Applicant; possible related party (surname matches debtor Arsenault's Fish Mart Inc.) · page: 10 · amount: 3500000 · debtor: SSSL and AFM · creditor: Robert Arsenault · currency: CAD · security: Promissory note subject to Arsenault VTB Priority Agreement
- secured creditorsnote: Subordinated and postponed in all respects to obligations owing to the Applicant; possible related party (Cooke surname matches original founder Dewis Cooke) · page: 10 · amount: 3000000 · debtor: CCSI, BTW and SSSI · creditor: Dewis Cooke, Randy Cooke, Murphy's Limited Liability Company and BTW Holdings Inc. · currency: CAD · security: Vendor take-back note (VTB Note) subject to VTB Priority Agreement
- secured creditorsnote: Demand notice received by Debtors around September 9, 2023 · page: 10 · as of: 2023-09-09 · amount: 375000 · debtor: SSSL (Buchanan Road Properties) · creditor: Thunder Cove Investments Inc. and Maplewood Trust (by its trustee) · currency: CAD · security: Mortgage loan on Buchanan Road Properties
- secured creditorsnote: Aggregated serialized-equipment financiers per PPSA search results; amounts not stated · page: 10 · debtor: One or more of the Debtors · creditor: PPSA equipment financiers (PMSI class): Toyota Industries Commercial Finance Canada Inc.; De Lage Landen Financial Services Canada Inc.; The Bank of Nova Scotia · currency: CAD · security: Various vehicle/equipment loans registered under PPSA in PEI, Nova Scotia and New Brunswick