Ontario · Receivership (court-appointed)
Affidavit of Daniel Flaro sworn April 8, 2026
Affidavit · 8 April 2026
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: Contingent obligation: Debtor guaranteed approximately $19 million debt owed by Pivot LP to its senior secured creditor (identified elsewhere in loan documents as Cortland Credit Lending Corporation) under separate credit arrangements; approximate figure as stated · page: 5 · as of: early 2026 · amount: 19000000 · debtor: Brightpath Capital Corporation · creditor: Cortland Credit Lending Corporation (as agent for Lenders under Cortland Credit Agreement, senior secured creditor of Pivot LP) · currency: CAD · security: Unlimited full recourse, secured guarantee granted by the Debtor
- secured creditorsnote: Senior Indebtedness under Senior Credit Agreement (revolving Senior Facility, facility limit $60,000,000); plus accruing interest, fees and costs · page: 9 · as of: 2026-03-31 · amount: 9489423.08 · debtor: Brightpath Capital Corporation · creditor: Pivot Financial I Limited Partnership · currency: CAD · security: General security agreement (amended and restated Sept 30, 2021, the 'Senior GSA', amending/restating the Original GSA dated Sept 27, 2018) and blocked account agreement dated April 12, 2022 (effective Sept 30, 2021) with Bank of Montreal; PPR registration first registered April 26, 2018 (assigned to Pivot LP)
- secured creditorsnote: Subordinate Indebtedness under the Subordinate Demand Note; contractually and per Postponement and Subordination Agreement, subordinate in payment priority to Senior Indebtedness though separately secured; plus accruing interest, fees and costs · page: 10 · as of: 2026-03-31 · amount: 6140711.17 · debtor: Brightpath Capital Corporation · creditor: Pivot Financial I Limited Partnership · currency: CAD · security: General security agreement dated August 16, 2018 (originally granted to PFI, assigned to Pivot LP) and the Senior GSA (Subordinate GSAs)