Alberta · Receivership (court-appointed)
Affidavit
Affidavit · 12 February 2026
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What we verified from this filing4 verified
- secured creditorsnote: A2Z is a related-party guarantor (director/shareholder-controlled corporate guarantor) of the Borrower's Loan; guarantee liability unlimited, capped at 100% of Outstanding Balance of the Loan as of date of demand under the A2Z Guarantee dated Jan 8, 2019; no independent balance stated for A2Z's own obligations. · page: 3 · debtor: A2Z Liquor Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General Security Agreement dated Jan 8, 2019 over all present and after-acquired property; PPSA financing statement Reg. No. 19010224661 (first registration against A2Z)
- secured creditorsnote: AIW is a related-party guarantor (wholly-owned subsidiary of Borrower) of the Borrower's Loan; guarantee liability unlimited, capped at 100% of Outstanding Balance of the Loan as of date of demand under the AIW Guarantee dated Jan 8, 2019; no independent balance stated for AIW's own obligations. · page: 3 · debtor: Alberta Inn Wetaskiwin Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General Security Agreement dated Jan 8, 2019 over all present and after-acquired property; PPSA financing statement Reg. No. 19010224863 (first registration against AIW)
- secured creditorsnote: Regulatory/statutory priority claim; October 3, 2025 demand cited then-outstanding arrears of $81,446.65, later municipal tax search shows current balance of arrears and penalties at $98,819.44 (approximate figure of $98,818.44 also referenced elsewhere in affidavit). · page: 5 · as of: municipal tax search date (undated) · amount: 98819.44 · debtor: Brar Brothers Ltd. · creditor: City of Wetaskiwin (municipal property tax arrears) · currency: CAD · security: Statutory municipal tax lien on the Mortgaged Lands
- secured creditorsnote: Original Loan principal advanced was $3,556,000.00 (Dec 19, 2018 Letter of Offer); outstanding balance stated is exclusive of unbilled costs; interest accruing at 7.25% p.a.; balance statement current to Jan 15, 2026 (Exhibit U); prior arrears demand of $75,604.54 made Oct 3, 2025 superseded by full acceleration; Guarantees obtained from A2Z Liquor Ltd., Alberta Inn Wetaskiwin Ltd. (unlimited, 100% of Outstanding Balance), and personal guarantees from Harkirat Singh Brar and Harpreet Kaur Brar (directors/shareholders), capped at 15% of Outstanding Balance as of date of demand. · page: 6 · as of: 2026-01-16 · amount: 3395570.36 · debtor: Brar Brothers Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General Security Agreement (Jan 8, 2019) over all present/after-acquired property; PPSA financing statement (Reg. No. 19010224357); Collateral Mortgage (Jan 8, 2019, reg'd Jan 18, 2019, Instr. No. 192 015 315) over Mortgaged Lands (Plan 9323102, Block 3, Lot 14A) securing principal sum of $3,556,000.00 plus interest; General Assignment of Rents (caveat Instr. No. 192 015 316)