Eaglesmed Group Inc.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, section 13(2) of the Judicature Act, R.S.A. 2000, c.J-2, and section 65(7) of the Personal Property Security Act, R.S.A. 2000, c.P-7
- File
- 2101-01130
- Industry
- Health care · Clinics & medical practices
Eaglesmed Group Inc. remains in a court-appointed receivership before the Court of King's Bench of Alberta under Court File No. 2101-01130, commenced May 4, 2021 under section 243(1) of the Bankruptcy and Insolvency Act, section 13(2) of the Judicature Act and section 65(7) of the Personal Property Security Act, with Deloitte Restructuring Inc. as Receiver. The Receiver's summary of primary liabilities puts secured debt across Eaglesmed and Chris Musah Professional Corporation at $2,575,502 as at the February 12, 2021 date of receivership, led by Bank of Montreal at $2,501,760 under general security agreements and mortgages, with RCAP Leasing Inc. at $46,123 and CWB National Leasing Inc. at $27,619. Canada Revenue Agency asserts deemed trust claims estimated at $47,000 in source deductions and $9,800 in GST; property taxes of $4,400 and employee claims of $3,000 rank as preferred. Roughly 37 unsecured trade creditors have been identified.
Application re Discharge of Receiver, returnable October 31, 2023 — Application / notice of application
The officer filed report no. Fifth and Final Report. The Receiver has sold all remaining properties, is winding down the receivership, and is seeking court approval to finalize distributions to BMO, resolve the alleged trust claim, and obtain its discharge.
Source: Fifth and Final Report of the Court Appointed Receiver
The court granted an approval and vesting order for the sale to Simeon Joannes Dewit. Closing terms, as extracted: Vesting of the Purchased Assets occurs upon delivery of the Receiver's Closing Certificate.
The officer filed report no. Fourth Report. Eaglesmed ceased operations before the receivership; the Receiver is selling CMPC's remaining Canadian investment properties (proposed sale of the Pine Lake Property under an APA dated June 15, 2022) and expects no funds to be available for unsecured creditors.
The court granted an approval and vesting order for the sale to Ashley Young. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser (or its nominee). Sealed: Confidential Supplement to the Third Report containing the unredacted APA.
Source: Approval and Vesting Order
The court granted an approval and vesting order for the sale to Ashley Young. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price and satisfaction of closing conditions. Sealed: Confidential Supplement to the Third Report.
Source: Approval and Vesting Order (Sale by Receiver - Unit 61), filed June 16, 2022
The officer filed report no. Third Report. Eaglesmed ceased operations before the receivership; the Receiver is continuing to market and sell the remaining CMPC Canadian investment properties (Unit 702 under contract, Pine Lake and Peace River listed) while the Debtors' Alleged Trust Claim over the REMAX properties remains unresolved and delays distributions.
The court granted an approval and vesting order for the sale to Kirk Farron. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate. Sealed: Confidential Supplement to the Second Report containing unredacted APA.
Source: Approval and Vesting Order (Sale by Receiver - Unit 62), filed June 16, 2022
The officer filed report no. Second Report. Eaglesmed ceased operations before the receivership. The Receiver closed the sale of Eaglesmed's assets and is now running a sales process for CMPC's Canadian investment properties, seeking approval of the sale of Unit 703 and an increase in the Borrowing Facility from $100,000 to $200,000.
The court granted an approval and vesting order for the sale to Ayman Tadros Professional Corporation. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Closing Certificate confirming payment, satisfaction/waiver of conditions, and completion of Transaction. Sealed: Sale Agreement (unredacted).
Order Approving Sales Process, Actions of Receiver, Etc was filed.
Source: Order Approving Sales Process, Actions of Receiver, Etc.
Receivership order pronounced May 4, 2021 by the Alberta court, placing Eaglesmed Group Inc. into court-appointed receivership and commencing the proceeding on file 2101-01130.
Debtor
Eaglesmed Group Inc.
Receiver
Deloitte
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Horner | Court of King's Bench of Alberta | 2 orders, Feb 2022 – Jun 2022 | 78 cases on record |
| Justice Romaine | Court of King's Bench of Alberta | 2 orders, May 2022 – Jun 2022 | 91 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDeloitte | Cassels Brock & Blackwell LLP | 26 Apr 2021 | Service list · 26 Apr 2021 |
| CreditorBMO | Dentons Canada LLP | 26 Apr 2021 | Service list · 26 Apr 2021 |
| CreditorColliers REMS | Swainson Miki Peskett LLP | 16 Feb 2022 | Application · 16 Feb 2022 |
| CreditorD0032J3 (Pending Registration Number) | Miles Davison LLP | 28 Jun 2022 | Order · 28 Jun 2022 |
| CreditorIntermediary to Control Agreement | Borden Ladner Gervais LLP | 26 Apr 2021 | Service list · 26 Apr 2021 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesas of approximate, as at date of First Report — Deemed trust claim; additional liabilities may be assessed as CRA audit not yet conducted. — debtor: Eaglesmed Group Inc. | $47K | First Report of the Court Appointed Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
11 more claims in 3 classes The stack holds Deemed trusts (CRA and other), Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans8 transactions · 5 closed · 3 approved — sale of the last remaining Canadian Property, the Peace River Property, has closedFifth and Final Report of the Court Appointed Receiver · 23 Oct 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Ayman Tadros Professional Corporationthe Debtor's right, title and interest in and to the assets described in the Sale Agreement (the ' Purchased Assets ') · asset sale · agreement 16 Apr 2021 | Subscribers | Approved4 May 2021 | Approval and Vesting Order ( Sale by Receiver) |
| Kirk Farronthe Debtors' right, title and interest in and to the property described in the APA (the "Property") · real property · agreement 6 Feb 2022 | Subscribers | Closeddate not stated | Third Report of the Court Appointed Receiver |
| Ashley Youngthe Debtors' right, title and interest in and to the property described in the APA (the "Property") · real property · nominee/assignee: or its nominee · agreement 17 Mar 2022 | Subscribers | Approved12 May 2022 | Approval and Vesting Order |
| Simeon Joannes Dewitthe Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · real property · nominee/assignee: its nominee · agreement 15 Jun 2022 | Subscribers | Approved28 Jun 2022 | Approval and Vesting Order (Sale by Receiver) |
| purchaser of the Peace River Property, unnamedthe Peace River Property · real property | not stated | Closeddate not stated | Fifth and Final Report of the Court Appointed… |
| unnamedUnit 703 | not stated | Closed1 Mar 2022 | Fifth and Final Report of the Court Appointed… |
| unnamedUnit 702 | not stated | Closed17 Jun 2022 | Fifth and Final Report of the Court Appointed… |
| unnamedthe Pine Lake Property | not stated | Closed2 Aug 2022 | Fifth and Final Report of the Court Appointed… |
Unsecured creditors: not yet estimated. Canada Revenue Agency not yet estimated · BMO a distribution · Bank of Montreal a distribution.EstimatedFourth Report of the Court Appointed Receiver · 20 Jun 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trustCRA's priority claim | Canada Revenue Agency | — | not yet estimatedconditional | Estimatedper the receiver | Second Report of the Court Appointed Receiver · 7 Feb 2022 |
| Secured | secured creditors of Eaglesmed | — | shortfall | Estimatedper the receiver | Second Report of the Court Appointed Receiver · 7 Feb 2022 |
| Secured | BMO | — | interim | Finalper the receiver | Fifth and Final Report of the Court Appointed Receiver · 23 Oct 2023 |
| Secured | Bank of Montreal | — | interim | Finalper the receiver | Application re Discharge of Receiver · 31 Oct 2023 |
| Unsecured | — | — | not yet estimated | Estimatedper the receiver | Fourth Report of the Court Appointed Receiver · 20 Jun 2022 |
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 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans1 engagement · 1 firm — Deloitte Restructuring Inc., to 16 Oct 2023, in feesFifth and Final Report of the Court Appointed Receiver · 23 Oct 2023
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Deloitte Restructuring Inc.Receiver | to 16 Oct 2023 | — | not stated | Fifth and Final Report of the Court Appointed Receiver · 23 Oct 2023 |
1 blurred figure above
What the firm billed — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$1.28M
As at 13 Oct 2023Fifth and Final Report of the Court Appointed Receiver
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and 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 |
|---|---|---|
| Receiver's Certificate | PDF · Subscribers | |
Application re Discharge of Receiver, returnable October 31, 2023
| PDF · Subscribers | |
Fifth and Final Report of the Court Appointed Receiver
| PDF · Subscribers | |
| Application, returnable June 28, 2022 | PDF · Subscribers | |
Approval and Vesting Order (Sale by Receiver)
| PDF · Subscribers | |
Fourth Report of the Court Appointed Receiver
| PDF · Subscribers | |
Approval and Vesting Order (Sale by Receiver - Unit 61), filed June 16, 2022
| PDF · Subscribers | |
Approval and Vesting Order (Sale by Receiver - Unit 62), filed June 16, 2022
| PDF · Subscribers | |
| Application, returnable May 12, 2022 | PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Third Report of the Court Appointed Receiver
| PDF · Subscribers | |
Application, returnable February 16, 2022
| PDF · Subscribers | |
Order Approving Actions of Receiver, Professional fees etc.
| PDF · Subscribers | |
Second Report of the Court Appointed Receiver
| PDF · Subscribers | |
Application, returnable May 4, 2021
| PDF · Subscribers | |
Approval and Vesting Order ( Sale by Receiver)
| PDF · Subscribers | |
Order Amending Receivership Order
| PDF · Subscribers | |
Order Approving Sales Process, Actions of Receiver, Etc.
| PDF · Subscribers | |
| Sealing Order | PDF · Subscribers | |
First Report of the Court Appointed Receiver
| PDF · Subscribers | |
Service List
| 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., “Eaglesmed Group Inc.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/eaglesmed-group-inc