Alberta · CCAA
Affidavit of Cory Stary (1 of 4)
Affidavit · 9 December 2025
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 filing4 verified
- secured creditorsnote: Referred to as the 'Indebtedness'; amount continues to accrue interest, fees, legal and other costs; fresh demand and NITES issued December 1, 2025 · page: 25 · as of: 2025-11-27 · amount: 28618077.68 · debtor: Green Impact Partners Inc. (borrower) and Guarantors (Green Impact Partners Holdings Ltd., Transition Energy Inc., 2302922 Alberta Ltd., Green Impact Operating Corp., Akira Infra I Ltd., Green Impact Partners U.S., Inc., Akira Infrastructure LLC) · creditor: National Bank of Canada (NBC), successor in interest to Canadian Western Bank (CWB) · currency: CAD · security: General Security Agreements (all present and after-acquired personal and real property) from each Debtor dated January 11, 2022; full liability continuing Guarantees dated January 11, 2022; PPSA registrations in Alberta, BC, Saskatchewan and UCC filings in Colorado over all present and after-acquired personal property; revolving credit Facility up to $30,000,000 principal (includes LC up to $2,000,000, hedging up to $2,000,000, VISA up to $250,000)
- financial positionnote: Total assets include approximately $86 million attributed to three not-yet-cash-flow-positive RNG Projects; total liabilities include the NBC Indebtedness and approximately $15.6 million of accounts payable/accrued unsecured liabilities; more recent unaudited interim statements (as at August 27, 2025, for six months ended June 30, 2025) show net losses of ~$10.4 million but do not restate a full balance sheet total · page: 27 · as at: 2024-12-31 · basis: audited consolidated financial statements (contain Going Concern Note); negative working capital of $33.7 million and net loss of $22.1 million for the year ended December 31, 2024 also noted by auditor · scope: consolidated - all Debtors (Green Impact Partners Inc. and its subsidiaries/Guarantors) · currency: CAD · total assets: 170000000 · total liabilities: 72300000
- secured creditorsnote: NBC states secured liabilities as at September 2025 are limited to the NBC Indebtedness, amounts owing to '158' under the Grid Note, and certain equipment leasehold obligations; amount owing not quantified in the affidavit; '158' also referenced as providing a 'Cash Injection' to the Debtors, suggesting a related/insider financing arrangement · page: 27 · debtor: Debtors (Green Impact Partners Inc. and Guarantors) · creditor: "158" (numbered entity) under Grid Note · currency: CAD · security: Grid Note
- secured creditorsnote: Registrations against specific serial-numbered goods financed by third parties, distinct from NBC's blanket security registrations · page: 27 · as of: 2025-09-29 · debtor: Debtors (collectively) · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Purchase-money/serialized-goods security interests (including motor vehicles) registered under PPSA (Alberta, B.C., Saskatchewan) and UCC filings (Colorado)