Proceedings.

Alvaro Developers Inc. and Alvaro Limited Partnership

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Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Filings held18
Last activity10 May 2023
On the record1,399 days
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Case updates18 dated entries
Parties

Debtor

Alvaro Developers Inc. and Alvaro Limited Partnership

Receiver

Alvarez & Marsal

RecoveriesAs stated in the filings

Bancorp: a distribution.EstimatedReceiver's Second Report (May 2, 2023) · 2 May 2023

ClassCreditorClaimsRecoveryBasisSource
SecuredBancorpa distributionfinalconditionalEstimatedper the receiverReceiver's Second Report (May 2, 2023) · 2 May 2023

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

Fees and ratesAs stated in the filings

4 engagements · 2 firmslatest: Alvarez & Marsal Canada Inc., 2 Dec 2022 – 31 Mar 2023, $166,144.50 soughtReceiver's Second Report (May 2, 2023) · 2 May 2023

FirmPeriodHoursFeesRatesSource
Alvarez & Marsal Canada Inc.Receiverperiod 2 of 22 Dec 2022 – 31 Mar 2023Sought$166,144.50not statedReceiver's Second Report (May 2, 2023) · 2 May 2023
Alvarez & Marsal Canada Inc.Receiverperiod 1 of 22 Dec 2022 – 28 Feb 2023Sought$122,362.50ex. taxnot statedFirst Report of the Receiver (March 21, 2023) · 21 Mar 2023
Torys LLPCounsel to the receiverperiod 2 of 22 Dec 2022 – 31 Mar 2023Sought$145,483.00not statedReceiver's Second Report (May 2, 2023) · 2 May 2023
Torys LLPCounsel to the receiverperiod 1 of 22 Dec 2022 – 28 Feb 2023Sought$83,158.50ex. taxnot statedFirst Report of the Receiver (March 21, 2023) · 21 Mar 2023
Documents
18 filings
DateDocumentFile
Approval and Vesting Order (May 10, 2023)PDF
Discharge Order (May 10, 2023)PDF
Restricted Court Access Order (May 10, 2023)PDF
Receiver's Second Report (May 2, 2023)
  • Fee schedule Engagements: Form: invoice_listing · Rows: · Money: Fees: $166K · Quote: TOTAL | | 166,144.50 $ · Approximate: false · Period: End: 2023-03-31 · Kind: interim · Label: Interim Period Billings · Quote: Summary of Receiver's Fees and Disbursements ("Interim Period Billings") December 2, 2022 to March 31, 2023 · Start: 2022-12-02 · Approval: Quote: Invoices Subject to Court Approval · State: sought · Averages: · Currency: · Invoices: Tax: 2212.42 · Fees: 43782 · Quote: #4 | March 1, 2023 to March 31, 2023 | 43,782.00 | 466.37 | 44,248.37 | 2,212.42 | 46,460.79 · Total: 46460.79 · Period end: 2023-03-31 · Period start: 2023-03-01 · Disbursements: 466.37; Tax: 1693.23 · Fees: 33835 · Quote: #1 | December 2, 2022 - December 31, 2022 | 33,835.00 | 29.56 | 33,864.56 | 1,693.23 | 35,557.79 · Total: 35557.79 · Period end: 2022-12-31 · Period start: 2022-12-02 · Disbursements: 29.56; Tax: 2241.17 · Fees: 44639 · Quote: #2 | January 1, 2023 - January 31, 2023 | 44,639.00 | 184.32 | 44,823.32 | 2,241.17 | 47,064.49 · Total: 47064.49 · Period end: 2023-01-31 · Period start: 2023-01-01 · Disbursements: 184.32; Tax: 2196.47 · Fees: 43888.5 · Quote: #3 | Febuary 1, 2023 to February 28, 2023 | 43,888.50 | 40.88 | 43,929.38 | 2,196.47 | 46,125.85 · Total: 46125.85 · Period end: 2023-02-28 · Period start: 2023-02-01 · Disbursements: 40.88 · Firm text: Alvarez & Marsal Canada Inc. · Firm quote: ALVAREZ & MARSAL CANADA INC. in its capacity as Court-appointed Receiver and Manager of the assets, undertakings and properties of ALVARO DEVELOPERS INC. and ALVARO LIMITED PARTNERSHIP. · Context quote: in its capacity as Court-appointed Receiver and Manager of the assets, undertakings and properties of ALVARO DEVELOPERS INC. and ALVARO LIMITED PARTNERSHIP; Form: invoice_listing · Rows: · Money: Fees: $145K · Quote: TOTAL | | 145,483.00 $ · Approximate: false · Period: End: 2023-03-31 · Kind: interim · Label: Interim Period Billings · Quote: Summary of Receiver's Counsel's Fees and Disbursements ("Interim Period Billings") December 2, 2022 to March 31, 2023 · Start: 2022-12-02 · Approval: Quote: Invoices Subject to Court Approval · State: sought · Averages: · Currency: · Invoices: Tax: 3116.23 · Fees: 62324.5 · Quote: 1603321 | March 1, 2023 to March 31, 2023 | 62,324.50 | 85.00 | 62,409.50 | 3,116.23 | 65,525.73 · Total: 65525.73 · Period end: 2023-03-31 · Period start: 2023-03-01 · Disbursements: 85; Tax: 2023.29 · Fees: 40325 · Quote: 1595288 | December 2, 2022 to December 31, 2022 | 40,325.00 | 507.40 | 40,832.40 | 2,023.29 | 42,855.69 · Total: 42855.69 · Period end: 2022-12-31 · Period start: 2022-12-02 · Disbursements: 507.4; Tax: 1282.85 · Fees: 25569.5 · Quote: 1597511 | January 1, 2023 to January 31, 2023 | 25,569.50 | 87.50 | 25,657.00 | 1,282.85 | 26,939.85 · Total: 26939.85 · Period end: 2023-01-31 · Period start: 2023-01-01 · Disbursements: 87.5; Tax: 863.2 · Fees: 17264 · Quote: 1599984 | Febuary 1, 2023 to February 28, 2023 | 17,264.00 | - | 17,264.00 | 863.20 | 18,127.20 · Total: 18127.2 · Period end: 2023-02-28 · Period start: 2023-02-01 · Disbursements: 0 · Firm text: Torys LLP · Firm quote: TORYS LLP · Context quote: COUNSEL TO RECEIVER
  • Recovery outcome Entries: per estimated · Stated on: 2023-05-02 · Table missing: The unredacted Forecast Receipts and Disbursements can be found in the Confidential Appendices.
PDF
Application of the Receiver (May 1, 2023)PDF
Service List (April 27, 2023)PDF
Order re: Approval of SISP and other matters (March 29, 2023)PDF
Restricted Court Access Order (March 29, 2023)PDF
Affidavit of Service (March 28, 2023)PDF
Application of the Receiver (March 21, 2023)PDF
First Report of the Receiver (March 21, 2023)
  • Fee schedule Engagements: Form: invoice_listing · Rows: · Money: Tax: $6.13K · Label: GST · Quote: 6,130.87 $ · Fees: $122K · Quote: 122,362.50 $ · Total: $129K · Quote: 128,748.13 $ · includes tax · includes disbursements · Approximate: false · Disbursements: $255 · Quote: 254.76 $ · Period: End: 2023-02-28 · Kind: interim · Label: Interim Period Billings · Quote: Summary of Receiver's Fees and Disbursements ("Interim Period Billings") December 2, 2022 to February 28, 2023 · Start: 2022-12-02 · Approval: Quote: Invoices subject to Court Approval · State: sought · Averages: · Currency: · Invoices: Tax: 1693.23 · Fees: 33835 · Quote: #1 | December 2, 2022 - December 31, 2022 | 33,835.00 | 29.56 | 33,864.56 | 1,693.23 | 35,557.79 · Total: 35557.79 · Period end: 2022-12-31 · Period start: 2022-12-02 · Disbursements: 29.56; Tax: 2241.17 · Fees: 44639 · Quote: #2 | January 1, 2023 - January 31, 2023 | 44,639.00 | 184.32 | 44,823.32 | 2,241.17 | 47,064.49 · Total: 47064.49 · Period end: 2023-01-31 · Period start: 2023-01-01 · Disbursements: 184.32; Tax: 2196.47 · Fees: 43888.5 · Quote: #3 | Febuary 1, 2023 to February 28, 2023 | 43,888.50 | 40.88 | 43,929.38 | 2,196.47 | 46,125.85 · Total: 46125.85 · Period end: 2023-02-28 · Period start: 2023-02-01 · Disbursements: 40.88 · Firm text: Alvarez & Marsal Canada Inc. · Firm quote: APPLICANT ALVAREZ & MARSAL CANADA INC. in its · Context quote: capacity as Court-appointed Receiver and Manager of the assets, undertakings and properties of ALVARO DEVELOPERS INC. and ALVARO LIMITED PARTNERSHIP.; Form: invoice_listing · Rows: · Money: Tax: $4.17K · Label: GST · Quote: 4,169.34 $ · Fees: $83.2K · Quote: 83,158.50 $ · Total: $87.9K · Quote: 87,922.74 $ · includes tax · includes disbursements · Approximate: false · Disbursements: $595 · Quote: 594.90 $ · Period: End: 2023-02-28 · Kind: interim · Label: Interim Period Billings · Quote: Summary of Receiver's Counsel's Fees and Disbursements ("Interim Period Billings") December 2, 2022 to February 28, 2023 · Start: 2022-12-02 · Approval: Quote: Invoices subject to Court Approval · State: sought · Averages: · Currency: · Invoices: Tax: 2023.29 · Fees: 40325 · Quote: 698083260 | December 2, 2022 to December 31, 2022 | 40,325.00 | 507.40 | 40,832.40 | 2,023.29 | 42,855.69 · Total: 42855.69 · Period end: 2022-12-31 · Period start: 2022-12-02 · Disbursements: 507.4; Tax: 1282.85 · Fees: 25569.5 · Quote: 698088804 | January 1, 2023 to January 31, 2023 | 25,569.50 | 87.50 | 25,657.00 | 1,282.85 | 26,939.85 · Total: 26939.85 · Period end: 2023-01-31 · Period start: 2023-01-01 · Disbursements: 87.5; Tax: 863.2 · Fees: 17264 · Quote: 698100283 | Febuary 1, 2023 to February 28, 2023 | 17,264.00 | - | 17,264.00 | 863.20 | 18,127.20 · Total: 18127.2 · Period end: 2023-02-28 · Period start: 2023-02-01 · Firm text: Torys LLP · Firm quote: TORYS LLP · Context quote: COUNSEL TO RECEIVER
PDF
Alvaro – Notice of Statement of Receiver (December 12, 2022)PDF
Receivership Order (December 6, 2022)PDF
Affidavit of Service (November 28, 2022)PDF
Second Affidavit of Michael Saba (November 28, 2022)PDF
Affidavit of Michael Saba (November 22, 2022)PDF
Application for Receivership Order and Sealing Order (November 22, 2022)
  • Applicant Bancorp Financial Services Inc., Bancorp Balanced Mortgage Fund II Ltd., and Bancorp Growth Mortgage Fund II Ltd.
  • Appointee Alvarez & Marsal Canada Inc.
  • Appointee role receiver-manager
  • Court Court of King’s Bench of Alberta
PDF
Statement of Claim (November 22, 2022)PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Alvaro Developers Inc. and Alvaro Limited Partnership” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/alvaro-developers-inc-and-alvaro-limited-partnership

Sources last checked · record updated 31 August 2026 · Report a correction · Printed from proceedings.ca/case/alvaro-developers-inc-and-alvaro-limited-partnership

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.