BlackSquare Inc.
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3 and section 13(2) of the Judicature Act, RSA 2000, c.J-2
- File
- 2601-04642
BlackSquare Inc. has been in court-appointed receivership since March 23, 2026, when the Court of King's Bench of Alberta pronounced a receivership order on the application of BDC Capital Inc. under section 243(1) of the Bankruptcy and Insolvency Act and section 13(2) of Alberta's Judicature Act. Grant Thornton Limited was appointed Receiver, and a stay was granted. The order created a Receiver's Charge of up to $250,000 over the Property, securing the professional fees and disbursements of the Receiver and its counsel in first priority subject to sections 14.06(7), 81.4(4) and 81.6(2) of the BIA, and a Receiver's Borrowings Charge for principal of up to $250,000, ranking behind the Receiver's Charge. The proceeding, court file 2601-04642, remains active.
Notice and Statement of Receiver dated March 26, 2026 — Notice of receiver (s. 245 / Form 87)
Order pronounced appointing Grant Thornton Limited as Receiver of BlackSquare Inc. on BDC Capital Inc.'s application, staying proceedings and granting two $250,000 priority charges.
Outcome brief
BlackSquare: the stake the receiver was ready to abandon
On July 20 the receiver of a Calgary wine-software company filed a First and Final Report, attached a notice abandoning the estate's primary asset — 356,990 shares of a Delaware company — and asked to be discharged. The estate held $2,131 against $116,779 of unpaid professional fees. Five weeks later the court approved a sale of those shares to the company that had issued them — for USD $32,000 — and discharged the receiver in the same attendance.
Debtor
BlackSquare Inc.
Applicant
BDC Capital
Receiver
Doane Grant Thornton
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| Court-ordered charges | ||||
| 1 | Court-ordered charges | Receiver's Borrowings Charge — in priority to all security interests, trusts, deemed trusts, liens, charges and encumbrances, statutory or otherwise, in favour of any Person, but subordinate in priority to the Receiver's Charge and the charges set out | $250K | Receivership Order - March 23, 2026 |
| 1 | Court-ordered charges | |||
| Pre-filing debt | ||||
| 3 | Deemed trusts (CRA and other) | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
14 more claims in 4 classes The stack holds Court-ordered charges, Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: no distribution. CRA no distribution.EstimatedSupplement to Receiver's First and Final Report · 17 Aug 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | CRA | — | no distribution | per the receiver | Receiver's First and Final Report to Court · 20 Jul 2026 |
| Unsecured | unsecured creditors or other stakeholders | — | no distribution | Estimatedper the receiver | Supplement to Receiver's First and Final Report · 17 Aug 2026 |
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.
2 engagements · 2 firms — latest: Grant Thornton Limited, 23 Feb – 7 Jul 2026, incl. GST+PSTSupplement to Receiver's First and Final Report · 17 Aug 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Grant Thornton LimitedReceiver | 23 Feb – 7 Jul 2026 | — | not stated | Supplement to Receiver's First and Final Report · 17 Aug 2026 | |
| Lawson LundellCounsel | 3 Mar – 30 Jun 2026 | — | not stated | Supplement to Receiver's First and Final Report · 17 Aug 2026 |
2 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plansAs at ·
The total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Approval and Vesting Order dated August 26, 2026
| PDF · Subscribers | |
Discharge Order dated August 26, 2026
| PDF · Subscribers | |
Supplement to Receiver's First and Final Report dated August 17, 2026
| PDF · Subscribers | |
Receiver's First and Final Report to Court dated July 20, 2026
| PDF · Subscribers | |
Notice and Statement of Receiver dated March 26, 2026
| PDF · Subscribers | |
Receivership Order - March 23, 2026
| PDF · Subscribers | |
Affidavit of Louis-David Julien sworn March 12, 2026
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “BlackSquare Inc.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/blacksquare-inc