SunStream Opportunities LP, an affiliate of SunStream Bancorp Inc., a joint venture sponsored by SNDL Inc. (NASDAQ: SNDL), has submitted the entry of a stipulated order by the Circuit Court for the County of Ingham, Michigan, for the appointment of a receiver in respect of all of the assets of Green Peak Industries, and certain affiliates, doing business as SKYMINT Brands. On March 3, 2023, the Honorable Judge Draganchuk appointed Trust Street Advisors, LLC, through its agent, Gene R. Kohut, as receiver over all of the assets of Skymint.
SunStream, through its affiliate Tropics LP, is the sole senior secured lender to Skymint. The Order follows continuing and uncured events of defaults under certain senior loan agreements in respect of a series of debt financings made by Tropics LP to Skymint. The order was jointly submitted by Skymint and Tropics LP and entered by the …