Alberta · Receivership (court-appointed)
Receiver's First Report to Court dated May 12, 2021
Court officer report · 12 May 2021
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What we verified from this filing3 verified
- secured creditorsnote: Original loan/security amount, not a stated outstanding balance as of any later date; City VTBM subsequently discharged and replaced by BAHS Mortgages assigned to City. Priority dispute with McPherson over interpretation of Inter-Creditor Agreement. · page: 5 · as of: September 30, 2010 · amount: 6300000 · debtor: Bridge Attainable Housing Society · creditor: The City of Calgary · currency: CAD · security: City VTBM (vendor take back mortgage) against Original Lands; Debenture and Promissory Note dated September 30, 2010
- secured creditorsnote: McPherson Loan amount per Participation Agreement dated September 30, 2010 (books and records); related-party/affiliated lender to BAHS via shared equity arrangement; Debenture defines Loan Amount as $7,320,000. Priority dispute with the City. · page: 7 · as of: September 30, 2010 · amount: 7320000 · debtor: Bridge Attainable Housing Society · creditor: McPherson Place Limited Partnership (by its general partner McPherson G.P. Ltd.) · currency: CAD · security: McPherson Debenture dated September 30, 2010 (collateral debenture registered against Original Lands); subsequently discharged and replaced by individual McPherson Mortgages (third mortgages) registered against Attainable Units
- secured creditorsnote: DISCHARGED - Construction Mortgage was fully discharged on or about September 23, 2013 upon sale of Attainable Units; no current balance stated. · page: 11 · debtor: Bridge Attainable Housing Society · creditor: Royal Bank of Canada · currency: CAD · security: Construction Mortgage dated February 17, 2011