Nova Scotia · Receivership (court-appointed)

Brief - Receivership Application

Application / notice of application · 25 April 2024

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 filing1 verified

secured creditorsnote: Daily interest of $386.97 continuing to accrue on the April 1, 2024 balance. Demand for repayment and NOI under s.244 BIA issued Sept 27, 2023, at which date the balance was $1,584,148.86. Personal security/guarantees also executed by the Company's principals (Prince Raj Chahal and Uma Pujari) in relation to the Loan. · page: 1 · as of: 2024-04-01 · amount: 1655920.9 · debtor: 2299994 Alberta Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: Real property security over 850 Portland Street, Dartmouth, NS (PID 41058173); Assignment of Rents dated June 30, 2020; General Security Agreement dated June 30, 2020 over all present and after-acquired personal property of the Company