Personal Property Security Act (Canada)

The Province of Tierra del Fuego Announces Commencement of Consent Solicitation

Retrieved on: 
Friday, October 27, 2023
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In accordance with the terms of the Indenture, the Province requires the Requisite Consents to successfully consummate the Consent Solicitation.

Key Points: 
  • In accordance with the terms of the Indenture, the Province requires the Requisite Consents to successfully consummate the Consent Solicitation.
  • The Province also reserves the right in its sole discretion to shorten the Consent Solicitation, as described above.
  • The Consent Solicitation is only being made pursuant to the Consent Solicitation Statement.
  • If a jurisdiction requires that the Consent Solicitation be made by a licensed broker or agent and the Consent Solicitation Agents or any affiliate of the Consent Solicitation Agents is a licensed broker or agent in that jurisdiction, the Consent Solicitation shall be deemed to be made by the Consent Solicitation Agents or such affiliate on behalf of the Province in that jurisdiction.

Atlas Global Provides Update on Liquidation of Subsidiaries Pursuant to Organizational Restructure to Accelerate Growth

Retrieved on: 
Tuesday, June 27, 2023
Bankruptcy and Insolvency Act, Personal Property Security Act (Canada), Bankruptcy, CSE, Atlas, AFSC, ATL, O'Gorman & Young, Inc. v. Hartford Fire Insurance Co., ABL, Court, News, Personal property, Holding company

The Atlas Subsidiaries’ senior lender, the Agriculture Financial Services Corporation (the “AFSC”), obtained the receivership order from the Court of King’s Bench of Alberta (the “Court”) with the consent of the Atlas Subsidiaries.

Key Points: 
  • The Atlas Subsidiaries’ senior lender, the Agriculture Financial Services Corporation (the “AFSC”), obtained the receivership order from the Court of King’s Bench of Alberta (the “Court”) with the consent of the Atlas Subsidiaries.
  • The order follows on the Company’s decision to cease operations at its facility in Gunn, Alberta and liquidate the assets of the Atlas Subsidiaries in an orderly manner as it focuses on cost reductions, savings and production efficiencies across its operations and the cannabis value chain.
  • A copy of the order is or soon will be available on the Receiver’s website which can be accessed at https://documentcentre.ey.com/ .
  • The Company and the AFSC are in discussions concerning payment plan of the parental guarantee in the event the proceeds from the liquidation of the Atlas Subsidiaries’ assets are not sufficient to satisfy amounts due to the AFSC.

SQI Diagnostics Announces Receipt of Intention to Enforce Security from Pivot Financial and Anticipated Voluntary Bankruptcy Filing

Retrieved on: 
Friday, June 16, 2023
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TORONTO, June 16, 2023 /PRNewswire/ - SQI Diagnostics Inc. ("SQI" or the "Company") (TSXV: SQD) (OTCQB: SQIDF) today announced that the Company's board of directors (the "Board") has received a notice of intention (the "Notice") to enforce security issued by its senior secured creditor, Pivot Financial I Limited Partnership ("Pivot"), under Section 244(1) of the Bankruptcy and Insolvency Act (the "Act").

Key Points: 
  • TORONTO, June 16, 2023 /PRNewswire/ - SQI Diagnostics Inc. ("SQI" or the "Company") (TSXV: SQD) (OTCQB: SQIDF) today announced that the Company's board of directors (the "Board") has received a notice of intention (the "Notice") to enforce security issued by its senior secured creditor, Pivot Financial I Limited Partnership ("Pivot"), under Section 244(1) of the Bankruptcy and Insolvency Act (the "Act").
  • As previously announced, there has been significant doubt about the Company's ability to continue as a going concern for several months.
  • As such, while the enforcement of the Notice is subject to a 10-day notice period, the Board has made the decision to consent to the early enforcement of security by Pivot.
  • The Company will proceed with a voluntary assignment in bankruptcy pursuant to the provisions of the Act and upon completion of the filing will announce that such filing is complete and that a trustee has been formally retained.

Gaming and Leisure Properties to Acquire Real Property Assets of Bally’s Two Rhode Island Assets for $1.0 Billion

Retrieved on: 
Tuesday, June 28, 2022
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WYOMISSING, Pa., June 28, 2022 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or “the Company”) announced today that it has entered into a binding term sheet with Bally’s Corporation (NYSE: BALY) (“Bally’s”) to acquire the real property assets of Bally’s two Rhode Island casino properties – Bally’s Twin River Lincoln Casino Resort (“Lincoln”) and Bally’s Tiverton Casino & Hotel – subject to customary regulatory approvals with Bally’s Twin River Lincoln Casino Resort also subject to lender consent. Pursuant to the terms of the transaction, Bally’s will immediately lease back both properties and continue to own, control, and manage all the gaming operations of the facilities on an uninterrupted basis. Total consideration for the acquisition is $1.0 billion and GLPI expects the transaction to be accretive to earnings upon closing in late 2022. GLPI intends to fund the transaction through a mix of debt, equity, and OP units.

Key Points: 
  • Both properties are expected to be added to the existing Ballys Master Lease (the Master Lease) between GLPI and Ballys, with incremental rent of $76.3 million.
  • Normalized rent coverage on the Master Lease which includes Ballys Dover Casino Resort, Ballys Evansville Casino & Hotel, Ballys Quad Cities Casino & Hotel and Ballys Black Hawk Casinos is expected to be 2.0x in the first calendar year following the completion of the acquisition of the real property assets of Ballys Rhode Island properties.
  • Ballys Rhode Island assets have delivered exceptionally strong performance over their lifetime thanks to their attractive location near Providence while planned capital investments at Lincoln offer healthy upside potential.
  • Ballys properties are currently the only two gaming facilities in Rhode Island and the transaction again diversifies our portfolio as the state becomes our 18th U.S. jurisdiction.

New to the Street TV Broadcasting the Interview with Pavan Agarwal, CEO of Sun West Mortgage Company, Inc. on the Fox Business Network

Retrieved on: 
Tuesday, June 21, 2022
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A New to The Street TV host sit down with Mr. Agarwal, who explains Sun West Mortgage Company Inc.'s business as one of the largest privately-owned mortgage-backed originators and servicers.

Key Points: 
  • A New to The Street TV host sit down with Mr. Agarwal, who explains Sun West Mortgage Company Inc.'s business as one of the largest privately-owned mortgage-backed originators and servicers.
  • I feel my interview on the show gives the TV audience a snapshot of why Sun West Mortgage Company, Inc., since 1980, successfully helped many in mortgage transactions."
  • New to The Street TV will air the upcoming Mr. Pavan Agarwal, CEO, Sun West Mortgage Company, Inc. interview on the Fox Business Network , Wednesday, June 22, 2022, at 10:30 PM PT.
  • About Sun West Mortgage Company, Inc.:
    Sun West Mortgage Company, Inc. dedicates itself to offering its customers the best service.

BRT Apartments Corp. Acquires Remaining JV Interests in Two Communities for a Purchase Price of $12.8 Million; Additional Agreements in Place to Acquire Remaining Interests in Nine Communities for a Purchase Price of $89.3 Million

Retrieved on: 
Tuesday, April 12, 2022
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In aggregate, these two properties contributed approximately $150,000 of equity in loss of unconsolidated joint ventures in 2021.

Key Points: 
  • In aggregate, these two properties contributed approximately $150,000 of equity in loss of unconsolidated joint ventures in 2021.
  • In addition, the Company entered into agreements to purchase the remaining minority interests in joint ventures that own six multi-family properties with an aggregate of 1,780 units.
  • In aggregate, the Company now has outstanding agreements to purchase the remaining minority interests in joint ventures that own nine multi-family properties with an aggregate of 2,382 units.
  • Additional financial and descriptive information on BRT, its operations and its portfolio, is available at BRTs website at: http://BRTapartments.com .

National MI Integrates with Mortgage Coach

Retrieved on: 
Tuesday, August 24, 2021
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EMERYVILLE, Calif., Aug. 24, 2021 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI) , the primary operating subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is now integrated with the Mortgage Coach platform, which enables mortgage lenders to create accurate, digital home loan comparison scenarios for borrowers.

Key Points: 
  • EMERYVILLE, Calif., Aug. 24, 2021 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI) , the primary operating subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is now integrated with the Mortgage Coach platform, which enables mortgage lenders to create accurate, digital home loan comparison scenarios for borrowers.
  • The integration enhances and simplifies the process for obtaining MI rate quotes for National MI and Mortgage Coach customers by allowing them to receive the personalized rate quote instantly within the TCA presentation.
  • Mortgage lenders can now access National MIs real-time, risk-based mortgage insurance pricing through its Rate GPS tool without ever leaving the Mortgage Coach platform.
  • National MI is very pleased to integrate with Mortgage Coach, which helps millions of consumers make educated and informed decisions about home loans based on their individual financial goals, said Norm Fitzgerald, chief sales officer with National MI.