Proceedings.

Carling

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Proceeding
Receivership (court-appointed)section 232 and Part 18 of the Business Corporations Act, R.S.A. 2000, c.B-9, as amended
Court
Court of King's Bench of Alberta
File
0801 02799
Industry
Real estate
Filings held44
Last activity1 Sep 2011
On the record7,106 days
Secured debtSubscribers
OverviewSummary updated

Carling is the subject of a court-appointed receivership before the Court of King's Bench of Alberta under section 232 and Part 18 of the Business Corporations Act (Alberta), on the application of Carling Development Inc. Ernst & Young Inc. was appointed receiver and manager. The proceeding commenced on May 23, 2007 under court file numbers 0601-09869 and 0801 02799, and remains active.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Claims Process Order dated 4 October 2007.

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Case updates45 dated entries
#Report

The officer filed report no. Fourth Report. The report covers a general meeting of Carling Investors at which a motion empowering the Investors' Committee to pursue a joint venture arrangement to continue the Fort McMurray condominium development was passed; Carling lacked sufficient cash to continue development on its own and its first mortgage on the lands was in default.

Source: 4. Fourth Report of the Inspector

#Report

The officer filed report no. Third Report. CDI has been attempting to obtain development and building permits from the Regional Municipality of Wood Buffalo for the Fort McMurray Project, has exhausted funds from the Airdrie Land sale, discontinued servicing the Sterling Mortgage, and is now considering a joint venture arrangement with other developers to finance and develop the project.

Source: 3. Third Report of the Inspector

#Report

The officer filed report no. Seventh Report. The report addresses a proposed settlement between the Receiver and the Carling Group resolving litigation over the Airdrie and Fort McMurray lands, with the lands to be transferred back to Carling Development for sale/development, rather than describing ongoing debtor business operations.

Source: Seventh Report of the Receiver

#Report

The officer filed report no. Second Report. The report updates the Court on the Fort McMurray investor vote favouring a pooled build-out approach, the Settlement Agreement between the Integra Receiver and Carling Group, estimated liquidation and build-out recoveries, and the claims process, recommending an amended and restated Inspector mandate.

Source: 2. Second Report of the Inspector

#Report

The officer filed report no. Second Report. The report describes the Carling Inspector's ongoing work overseeing the Carling Group projects, including holding an investor meeting, managing a claims process, negotiating a settlement with the Integra Receiver, and proposing an amended, enhanced inspector mandate to oversee the build-out of the Fort McMurray project.

Source: Second Report of the Inspector

Parties

Debtor

Carling

Receiver

EY

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice KentCourt of King's Bench of Alberta5 orders, May 2007 – Mar 200815 cases on record

Counsel of record

PartyCounselFirst seenSource
DebtorCarlingMcLEOD & COMPANY LLP2 Sep 2011Order · 2 Sep 2011
CreditorCarling Inspector and the IntegraDavid LeGey Fraser Milner Caßgrain LLP · Fraser Milner Casgrain LLP (now Dentons Canada LLP)2 Sep 2011Order · 2 Sep 2011
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredSSN (Sterling Mortgage Investment/Sage Funding Inc./New City Financial Corporation)as of current land titles certificate — First charge mortgage registered against the Fort McMurray Lands — Purchased the Integra/OTC mortgage originally registered at $1,424,000; accruing interest at 11% per year — debtor: CFC / Aurora River Towers Inc. (Fort McMurray Lands)$1.5M1. First Report of the Inspector with Appendices
4Secured
4Secured
4Secured
8Unsecured
8Unsecured
8Unsecured
8Unsecured
8Unsecured

8 more claims in 2 classes The stack holds Secured and Unsecured claims.

Every creditor and every amount, drawn to scale.

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This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.

Sale processAs stated in the filings

3 transactions · 2 proposed · 1 approved — Purchase Agreement approved and Applicant at liberty to convey title to the LandsOrder - Approving Sale of Land · 1 Sep 2011

PurchaserPriceStatusSource
Carling Development Inc.the Fort McMurray Lands · real property · agreement 6 Feb 2008not statedProposedSeventh Report of the Receiver
Sun Valley Springs Inc.Related partythe Airdrie Lands · real property · agreement 6 Feb 2008SubscribersProposedSeventh Report of the Receiver
Morris Kadylo, MK Groupthe following lands to the Purchaser: PLAN 9121064 BLOCK1 LOT4 EXCEPTING THEREOUT ALL MINES AND MINERALS AREA: 0.74 HECTARES (1.83 ACRES) MORE OR LESS · real property · nominee/assignee: Nomineenot statedApproved1 Sep 2011Order - Approving Sale of Land
Closing termsPayment of amounts under the Purchase Agreement and discharge of encumbrances upon paymentOrder - Approving Sale of Land
Estate financialsReported figures — never derived

Cumulative receipts

$2.17M

As at 2 Jun 20103. Third Report of the Inspector

Cash on hand

As at

Professional fees

As at

2 more reported figures

Each one as the filing states it, with its source.

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Documents
44 filings
DateDocumentFile
Order - Approving Sale of Land
  • Closing terms Payment of amounts under the Purchase Agreement and discharge of encumbrances upon payment
  • Counsel V. Philippe Lalonde McLeod & Company LLP
  • Order date 1 September 2011
  • Presiding officer Justice T.F. McMahon
  • + 3 more extracted facts
PDF · Subscribers
Draft OrderPDF · Subscribers
Notice of Application
  • Applicant Carling Development Inc.
  • Commencement date 29 August 2011
  • Court COURT OF QUEEN'S BENCH OF ALBERTA
  • Court file no 0801 02799
  • + 1 more extracted fact
PDF · Subscribers
Affidavit of Danny Cheng, swornPDF · Subscribers
Affidavit of Danny Cheng, sworn - exhibit APDF · Subscribers
Affidavit of Danny Cheng, sworn - exhibit BPDF · Subscribers
Affidavit of Danny Cheng, sworn - exhibit CPDF · Subscribers
Affidavit of Danny Cheng, sworn - exhibit DPDF · Subscribers
Affidavit of Danny Cheng, sworn - exhibit EPDF · Subscribers
Affidavit of DefaultPDF · Subscribers
Affidavit of Value, swornPDF · Subscribers
Fifth Report of the Inspector
  • Cash on hand · Disbursements · Financial position · Professional fees Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Service ListPDF · Subscribers
4. Fourth Report of the Inspector
  • Operational summary The report covers a general meeting of Carling Investors at which a motion empowering the Investors' Committee to pursue a joint venture arrangement to continue the Fort McMurray condominium development was passed; Carling lacked sufficient cash to continue development on its own and its first mortgage on the lands was in default.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Meeting Package
PDF · Subscribers
Letter to Carling InvestorsPDF · Subscribers
3. Third Report of the Inspector
  • Operational summary CDI has been attempting to obtain development and building permits from the Regional Municipality of Wood Buffalo for the Fort McMurray Project, has exhausted funds from the Airdrie Land sale, discontinued servicing the Sterling Mortgage, and is now considering a joint venture arrangement with other developers to finance and develop the project.
  • Cash on hand · Financial position · Professional fees Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Investor Meeting Package
PDF · Subscribers
July 8, 2008 Letter re: Meeting of the Carling Investors, heldPDF · Subscribers
Letter to Service List, Investors & Creditors re SA Mar 25-08PDF · Subscribers
Approval Order - Dated
  • Presiding officer Justice C.A. Kent
PDF · Subscribers
Brief of Arguments and AuthoritiesPDF · Subscribers
Letter to Investors and CreditorsPDF · Subscribers
Notice of Motion
  • Applicant Ernst & Young Inc.
  • Appointee Ernst & Young Inc.
  • Appointee role Receiver and Manager
  • Court IN THE COURT OF QUEEN'S BENCH OF ALBERTA
  • + 2 more extracted facts
PDF · Subscribers
Second Report of the Inspector
  • Operational summary The report describes the Carling Inspector's ongoing work overseeing the Carling Group projects, including holding an investor meeting, managing a claims process, negotiating a settlement with the Integra Receiver, and proposing an amended, enhanced inspector mandate to oversee the build-out of the Fort McMurray project.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Seventh Report of the Receiver
  • Operational summary The report addresses a proposed settlement between the Receiver and the Carling Group resolving litigation over the Airdrie and Fort McMurray lands, with the lands to be transferred back to Carling Development for sale/development, rather than describing ongoing debtor business operations.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
Analysis of Build-out ScenarioPDF · Subscribers
Build-out Scenario Potential Cash FlowPDF · Subscribers
Notice of Meeting - Fort McMurray Investors
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Presentation to Aurora River Tower Private InvestorsPDF · Subscribers
Summary of Votes
PDF · Subscribers
Letter - Fort McMurray InvestorsPDF · Subscribers
Proxy - Meeting of Fort McMurray Investors
PDF · Subscribers
Justice Kent's DecisionPDF · Subscribers
Proof of Claim FormPDF · Subscribers
Proof of Claim InstructionsPDF · Subscribers
Proof of Investment Form and InstructionsPDF · Subscribers
Claims Process Order
  • Presiding officer Justice C.A. Kent
PDF · Subscribers
Order
  • Presiding officer Justice C.A. Kent
PDF · Subscribers
Order, Fort McMurray Investors
  • Presiding officer Justice C.A. Kent
  • Stalking horse Subscribers
PDF · Subscribers
1. First Report of the Inspector with Appendices
  • Appointee Ernst & Young Inc.
  • Commencement date 23 May 2007
  • Court IN THE COURT OF QUEEN'S BENCH OF ALBERTA
  • Court file no 0601-09869
  • + 4 more extracted facts
PDF · Subscribers
Letter to Lalonde, McDougall & PricePDF · Subscribers
Letter to InvestorsPDF · Subscribers
Consent Order
  • Presiding officer Justice C. A. Kent
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., “Carling” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/carling

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Sources last checked · summary updated 24 August 2026 · Report a correction · Printed from proceedings.ca/case/carling

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.