Proceedings.

Elaborate Homes Ltd. and Elaborate Developments Inc

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Proceeding
Receivership (court-appointed)sections 243(1) of the Bankruptcy and Insolvency Act, 13(2) of the Judicature Act, 99(a) of the Business Corporations Act, and 65(7) of the Personal Property Security Act
File
1103-02937
Filings held22
Last activity16 Dec 2011
On the record5,689 days
Secured debt$3.95M
OverviewSummary updated

Elaborate Homes Ltd. and Elaborate Developments Inc have been in court-appointed receivership since February 23, 2011, on the application of Alberta Treasury Branches under BIA s. 243 and provincial Judicature Act authority. ATB holds security granted April 22, 1997 and is owed $3,950,655. Elaborate Homes' own books put the net book value of realizable assets at $11,643,585 as at January 31, 2011, with accounts receivable stated exclusive of intercompany and related party amounts. Other creditors holding security as at February 22, 2011 include the Canada Revenue Agency at $446,508 on a deemed trust basis, Royal Bank of Canada, The Bank of Nova Scotia, Pan Canadian Mortgage Group III Inc. and Workers' Compensation Board Alberta. The creditors list as at February 23, 2011 shows unsecured claims led by Peter Lane Concrete at $752,227.50, the Receiver General at $451,702.02 and Rona Home & Garden Centre at $255,593.70. The receivership remains active.

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Case updates22 dated entries
#Report

The officer filed report no. Fourth Report. The Receiver is winding down the receivership estates of Homes and Developments, having completed major asset sales, negotiated a settlement with CRA, and is now seeking court approval of a cost allocation and further distributions to secured creditors including ATB, Servus, and Alco.

Source: Fourth Report to the Court

#Sale

The court granted an approval and vesting order for the sale to 1601812 Alberta Ltd. Closing terms, as extracted: Vesting of Lands and Personal Property upon closing of the Transaction.

Source: Filed Sale Approval and Vesting Order

#Report

The officer filed report no. Second Report. The Receiver maintained minimal operations of Elaborate Homes and Developments while marketing all assets for sale, and after conducting a competitive bid process is recommending court approval of an en bloc sale to the Successful Offeror, 1601812 Alberta Ltd.

Source: Elaborate Second Report

#Report

The officer filed report no. First Report. The Receiver is winding down operations, has determined it is not viable to complete unfinished houses or sell lots piecemeal, and is instead marketing the land and house assets for sale as a package to maximize realizations.

Source: Elaborate Developments First Report

#Report

The officer filed report no. First Report. The Receiver terminated Homes' employees and ceased new home construction, maintaining only limited operations to complete a small number of pre-existing house sale agreements while marketing the remaining house, land, and fixed assets for sale through a tender process.

Source: Elaborate Homes First Report

Parties

Debtor

Elaborate Homes Ltd. and Elaborate Developments Inc

Receiver

PwC

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice GillCourt of King's Bench of Alberta1 order, Feb 201137 cases on record

Counsel of record

PartyCounselFirst seenSource
CreditorPricewaterhouse Coopers Inc., of each of Elaborate Homes LtdLovatt LLP20 May 2011Service list · 20 May 2011
Capital structureAs asserted in the filings
stated amounts, drawn to scale · 9 named without a figure
#Priority classCreditorAmountSource
3Deemed trusts (CRA and other)Canada Revenue Agency · in 926 casesListed among creditors holding security on the property; deemed trust class — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011$447KNotice to Creditors - Elaborate Homes
4SecuredAlberta Treasury Branches · in 14 casesSecurity granted April 22, 1997; applicant for receivership order — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011$3.95MNotice to Creditors - Elaborate Homes
4SecuredThe Alberta New Home Warranty Program · in 2 casesListed as secured creditor holding security on the property as at receivership date — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011$9.2KNotice to Creditors - Elaborate Homes
4SecuredDe Lage Landen Financial Services Canada Inc. · in 73 casesdebtor: Elaborate Homes Ltd. · as of 22 Feb 2011$3.3KNotice to Creditors - Elaborate Homes
4SecuredThe Bank of Nova Scotia · in 110 casesAmount to be determined — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011Notice to Creditors - Elaborate Homes
4SecuredRoyal Bank of Canada · in 556 casesAmount to be determined — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011Notice to Creditors - Elaborate Homes
4SecuredThe Driving Force Inc. · in 6 casesAmount to be determined — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011Notice to Creditors - Elaborate Homes
4SecuredWorkers' Compensation Board Alberta · in 4 casesAmount to be determined; regulatory — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011Notice to Creditors - Elaborate Homes
4SecuredHammer Equipment Ltd.Amount to be determined — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011Notice to Creditors - Elaborate Homes
4SecuredAlco Industrial Inc.Amount to be determined — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011Notice to Creditors - Elaborate Homes
4SecuredPan Canadian Mortgage Group III Inc.Amount to be determined — debtor: Elaborate Homes Ltd. · as of 22 Feb 2011Notice to Creditors - Elaborate Homes
7Preferred (BIA s. 136)Employees - Various · in 10 casesPreferred creditors; amount to be determined — debtor: Elaborate Homes Ltd. · as of 23 Feb 2011Notice to Creditors - Elaborate Homes
8UnsecuredPeter Lane Concretedebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$752KNotice to Creditors - Elaborate Homes
8UnsecuredReceiver General · in 75 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$452KNotice to Creditors - Elaborate Homes
8UnsecuredRona Home & Garden Centredebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$256KNotice to Creditors - Elaborate Homes
8UnsecuredJ Double Electric Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$126KNotice to Creditors - Elaborate Homes
8UnsecuredP & G Kitchensdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$109KNotice to Creditors - Elaborate Homes
8UnsecuredQuality Floorsdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$96.4KNotice to Creditors - Elaborate Homes
8UnsecuredTriton Plumbing & Heatingdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$91.1KNotice to Creditors - Elaborate Homes
8UnsecuredCarter Lock Horrigandebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$79.8KNotice to Creditors - Elaborate Homes
8UnsecuredCity of Grande Prairie · in 3 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$79.8KNotice to Creditors - Elaborate Homes
8UnsecuredTrend Home Improvementsdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$41.9KNotice to Creditors - Elaborate Homes
8UnsecuredIdeal Ceramicsdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$29.9KNotice to Creditors - Elaborate Homes
8UnsecuredDirect Energy Regulated Services · in 58 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$24.6KNotice to Creditors - Elaborate Homes
8UnsecuredTriton Sheet Metaldebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$23.3KNotice to Creditors - Elaborate Homes
8UnsecuredThe Cooperators · in 3 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$22.8KNotice to Creditors - Elaborate Homes
8UnsecuredMeyers Norris Pennydebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$21.1KNotice to Creditors - Elaborate Homes
8UnsecuredRoger Knottdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$19.9KNotice to Creditors - Elaborate Homes
8UnsecuredPrairie Disposal Ltd. · in 4 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$18.1KNotice to Creditors - Elaborate Homes
8UnsecuredNew Horizon Co-Operative Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$16KNotice to Creditors - Elaborate Homes
8UnsecuredCity Furnituredebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$13.2KNotice to Creditors - Elaborate Homes
8UnsecuredB W Berch Concretedebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$12.7KNotice to Creditors - Elaborate Homes
8UnsecuredCase Credit · in 2 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$11.3KNotice to Creditors - Elaborate Homes
8UnsecuredCutline Paintingdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$11.2KNotice to Creditors - Elaborate Homes
8UnsecuredWapiti Gravel Suppliersdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$10.3KNotice to Creditors - Elaborate Homes
8UnsecuredHamel Excavdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$10.3KNotice to Creditors - Elaborate Homes
8UnsecuredFacelift Reno'sdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$10KNotice to Creditors - Elaborate Homes
8UnsecuredJet Gas & Heatingdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$9.5KNotice to Creditors - Elaborate Homes
8UnsecuredVokey Bros. Contracting Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$9.2KNotice to Creditors - Elaborate Homes
8UnsecuredThe Alberta New Home Warranty Prog.Also listed as a secured creditor at $9,200 as at receivership date; distinct unsecured balance listed here — debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$9.16KNotice to Creditors - Elaborate Homes
8UnsecuredA-1 Trusses Ltd. · in 2 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$9.03KNotice to Creditors - Elaborate Homes
8Unsecured1327527 AB Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$8.8KNotice to Creditors - Elaborate Homes
8UnsecuredBeairsto Lehners Ketchumdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$7.27KNotice to Creditors - Elaborate Homes
8UnsecuredBell Mobility · in 83 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$5.94KNotice to Creditors - Elaborate Homes
8UnsecuredA Wizard's Touch Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$5.52KNotice to Creditors - Elaborate Homes
8UnsecuredCutting Edge Concrete Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$5.41KNotice to Creditors - Elaborate Homes
8UnsecuredIbex Landscape Companydebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$4.89KNotice to Creditors - Elaborate Homes
8UnsecuredIndustrial Alliance · in 6 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$4.51KNotice to Creditors - Elaborate Homes
8UnsecuredCrystal Glass · in 5 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$4.16KNotice to Creditors - Elaborate Homes
8UnsecuredHigham Contracting Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$4.03KNotice to Creditors - Elaborate Homes
8UnsecuredWoodland Do It Centerdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$3.81KNotice to Creditors - Elaborate Homes
8UnsecuredCaron & Partners LLP · in 6 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$3.55KNotice to Creditors - Elaborate Homes
8UnsecuredThe Licence Centre · in 2 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$3.52KNotice to Creditors - Elaborate Homes
8UnsecuredJay Dee Eavestroughingdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$3.22KNotice to Creditors - Elaborate Homes
8Unsecured1210260 AB Ltd. c/o Duane Hostetlerdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$3.12KNotice to Creditors - Elaborate Homes
8UnsecuredHislop Home Builders Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$3.12KNotice to Creditors - Elaborate Homes
8UnsecuredBiegel & Perra Appraisalsdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$2.68KNotice to Creditors - Elaborate Homes
8UnsecuredPeace Country Concrete Pumpingdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$2.57KNotice to Creditors - Elaborate Homes
8UnsecuredR & R Power Vacdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$2.55KNotice to Creditors - Elaborate Homes
8UnsecuredMerit Cont. Assoc. Benefit Trustdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$2.51KNotice to Creditors - Elaborate Homes
8UnsecuredUDI Grande Prairie Chapterdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$2.1KNotice to Creditors - Elaborate Homes
8UnsecuredTelus · in 115 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.98KNotice to Creditors - Elaborate Homes
8UnsecuredSun Media Corporation · in 4 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.94KNotice to Creditors - Elaborate Homes
8UnsecuredCost-It Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.89KNotice to Creditors - Elaborate Homes
8UnsecuredTotemdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.76KNotice to Creditors - Elaborate Homes
8UnsecuredCHBA - Grande Prairie Regiondebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.61KNotice to Creditors - Elaborate Homes
8UnsecuredHomes and Land of Grande Prairie Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.57KNotice to Creditors - Elaborate Homes
8UnsecuredEHS Stairs & Woodworkingdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.3KNotice to Creditors - Elaborate Homes
8UnsecuredRentcodebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.24KNotice to Creditors - Elaborate Homes
8UnsecuredPeace Country Stor Moredebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.23KNotice to Creditors - Elaborate Homes
8UnsecuredCountry Pump-Outdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.16KNotice to Creditors - Elaborate Homes
8UnsecuredRailtown Phase 2 Condo Associationdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.08KNotice to Creditors - Elaborate Homes
8UnsecuredGregg Distributors Ltd. · in 5 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$1.04KNotice to Creditors - Elaborate Homes
8UnsecuredThe Original Basket Boutiquedebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$903Notice to Creditors - Elaborate Homes
8UnsecuredA Lift Picker Servicedebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$895Notice to Creditors - Elaborate Homes
8UnsecuredAquatera Utilities Inc. · in 5 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$829Notice to Creditors - Elaborate Homes
8UnsecuredDirect Energy · in 38 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$806Notice to Creditors - Elaborate Homes
8UnsecuredConcrete Plusdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$795Notice to Creditors - Elaborate Homes
8UnsecuredGlobal Design Studiodebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$714Notice to Creditors - Elaborate Homes
8UnsecuredOK Tire & Auto Servicedebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$553Notice to Creditors - Elaborate Homes
8UnsecuredChamber of Commerce · in 4 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$525Notice to Creditors - Elaborate Homes
8UnsecuredAlberta Wholesale Fireplaces Ltd.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$410Notice to Creditors - Elaborate Homes
8UnsecuredHouse Dressing Inc.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$407Notice to Creditors - Elaborate Homes
8UnsecuredConnectionsdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$315Notice to Creditors - Elaborate Homes
8UnsecuredMinister of Finance - GPdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$287Notice to Creditors - Elaborate Homes
8UnsecuredDigital Bluesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$236Notice to Creditors - Elaborate Homes
8UnsecuredJ.R. Paine & Associates Ltd. · in 4 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$215Notice to Creditors - Elaborate Homes
8UnsecuredThe Tub Doctordebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$194Notice to Creditors - Elaborate Homes
8UnsecuredShamrock Flooringdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$128Notice to Creditors - Elaborate Homes
8UnsecuredAlpine Water Storedebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$117Notice to Creditors - Elaborate Homes
8UnsecuredCanadian Wastedebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$75Notice to Creditors - Elaborate Homes
8UnsecuredSuds N Tubsdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$62Notice to Creditors - Elaborate Homes
8UnsecuredSpring Fresh Mat & Linen Rentalsdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$57Notice to Creditors - Elaborate Homes
8UnsecuredES Williams & Associates Inc.debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$53Notice to Creditors - Elaborate Homes
8UnsecuredCloverdale Paint · in 4 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$50Notice to Creditors - Elaborate Homes
8UnsecuredMike's Lube N' Cleandebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$49Notice to Creditors - Elaborate Homes
8UnsecuredHertz Equipment Rental · in 12 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$45Notice to Creditors - Elaborate Homes
8UnsecuredPurolator Courier Ltd. · in 53 casesdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$23Notice to Creditors - Elaborate Homes
8UnsecuredGrande Prairie Airportdebtor: Elaborate Homes Ltd. · as of 23 Feb 2011$16Notice to Creditors - Elaborate Homes
8UnsecuredReceiver General - GST · in 3 casesNegative balance/credit as reported — debtor: Elaborate Homes Ltd. · as of 23 Feb 2011$-51.9KNotice to Creditors - Elaborate Homes

“not stated” means the record names the claim without a figure; “” means not in the extracted record.

Sale processAs stated in the filings

3 transactions · 1 closed · 1 approved · 1 proposedthe majority of assets of Elaborate have been sold pursuant to the Vesting OrderFourth Report to the Court · 16 Dec 2011

Parties solicited

160

Elaborate Second Report

PurchaserPriceStatusSource
1601812 Alberta Ltd.the Lands and Personal Property · asset sale · agreement 6 May 2011SealedSale proceeds of $9,775,850.19 deposited; summary of offers was sealed but this document does not say the price itself is sealed.Closed21 Jun 2011Fourth Report to the Court
Grant H. Althenthe Farm Lands · real propertyDebt assumedconveyance of title in full and final satisfaction of the indebtedness owing by Elaborate Developments to Grant H. Althen pursuant to the MortgageApproved28 Jul 2011Filed Vesting Order
Great West Truck Lease and Rentals Ltd.four Kenworth trucks which were subject to lease contracts between GWT and Developments · asset sale$45Kestimated recoveriesProposedFourth Report to the Court
Closing termsVesting of Lands and Personal Property upon closing of the TransactionFiled Sale Approval and Vesting Order
Sealed materialsConfidential Supplement, Secretarial Affidavit, and correspondence from the Receiver's counsel; Bid SummaryTab H - J
RecoveriesAs stated in the filings

Secured creditors: no distribution. Canada Revenue Agency $168K · Alco Industries Inc. $90.6K · Servus short by $352K.EstimatedFourth Report to the Court · 16 Dec 2011

ClassCreditorClaimsRecoveryBasisSource
Deemed trustCRA (Homes personal property deemed trust)Canada Revenue Agency$168Kconditionalper the receiverFourth Report to the Court · 16 Dec 2011
Securedremaining secured creditors (Homes)no distributionconditionalEstimatedper the receiverFourth Report to the Court · 16 Dec 2011
SecuredAlco Industries Inc.$90.6KconditionalEstimatedper the receiverFourth Report to the Court · 16 Dec 2011
SecuredServus$3.12Mestimatedshort by $352KconditionalEstimatedper the receiverFourth Report to the Court · 16 Dec 2011

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.

Estate financialsReported figures — never derived
Total assets at filing$11.6M

As at 31 Jan 2011 · per Net Book Value of Realizable Assets as reflected in the Company's books and records; automotive and building figures from unaudited financial statements prepared by Meyers Norris Penny for year ending September 30, 2010 · Elaborate Homes Ltd. (entity level) — Accounts receivable excludes intercompany/related party receivables; total liabilities not stated in this document (secured creditor amount to be determined for several creditors)

Cumulative receipts

$1.58M

As at 26 May 2011Elaborate Second Report

Cumulative disbursements

$1.21M

As at 26 May 2011Elaborate Second Report

Cash on hand

$161K

As at 20 Apr 2011Elaborate Homes First Report

Documents
22 filings
DateDocumentFile
Fourth Report to the Court
  • Closing confirmed Closed · 21 Jun 2011 · 1601812 Alberta Ltd.
  • Operational summary The Receiver is winding down the receivership estates of Homes and Developments, having completed major asset sales, negotiated a settlement with CRA, and is now seeking court approval of a cost allocation and further distributions to secured creditors including ATB, Servus, and Alco.
  • Purchaser 1601812 Alberta Ltd. · a majority of the land andpersonal property of Elaborate · asset sale · closed; Great West Truck Lease and Rentals Ltd. · four Kenworth trucks which were subject to lease contracts between GWT and Developments · asset sale · $45K · proposed
  • Recovery outcome Entries: per estimated; per estimated; per unstated; per unstated; per estimated · Table missing: For the Great West Settlement, we have estimated the recoverable amount under the Settlement Agreement reached between the Receiver and Great West Truck Lease & Rentals Ltd. for the sale of certain equipment. No funds have been provided to the Receiver to date.
  • + 3 more extracted facts
PDF
Amending Order for Interim Distribution OrderPDF
Filed Interim Distribution OrderPDF
Filed Vesting Order
  • Order date 28 July 2011
  • Purchaser Grant H. Althen · the Farm Lands · real property · approved
  • Sale outcome Sale approved — The Receiver is hereby authorized to accept the proposal of Grant H. Althen, a mortgagee of lands
PDF
Filed Sale Approval and Vesting Order
  • Closing terms Vesting of Lands and Personal Property upon closing of the Transaction
  • Order date 3 June 2011
  • Purchaser 1601812 Alberta Ltd. · the Lands and Personal Property · asset sale · approved
PDF
Brief of the applicantPDF
Tab A - CPDF
Tab D - GPDF
Tab H - J
  • Order date 14 January 2011
  • Sealed items Confidential Supplement, Secretarial Affidavit, and correspondence from the Receiver's counsel
PDF
Tab K - NPDF
Application for an Order approving Sale and Vesting Order
  • Closing terms Vesting of Lands and Personal Property upon closing of the Transaction
  • Purchaser 1601812 Alberta Ltd. · the Lands described in Schedule "A" hereto (the "Lands") and personal property described in Schedule "B" hereto (the "Personal Property") · assets and shares · price sealed · approved
  • Sale outcome Sale approved — the sale of the Lands and Personal Property to 1601812 Alberta Ltd. is approved
  • Sealed items Bid Summary
PDF
Application letter
  • Applicant Alberta Treasury Branches
  • Appointee PricewaterhouseCoopers Inc.
  • Appointee role Receiver
  • Commencement date 22 February 2011
  • + 2 more extracted facts
PDF
Confidentiality agreementPDF
Elaborate Second Report
  • Disbursements $1.21M · Note: Combined disbursements for Homes and Developments per Statement of Receipts and Disbursements for the period February 22, 2011 to May 20, 2011 · Since: February 22, 2011
  • Operational summary The Receiver maintained minimal operations of Elaborate Homes and Developments while marketing all assets for sale, and after conducting a competitive bid process is recommending court approval of an en bloc sale to the Successful Offeror, 1601812 Alberta Ltd.
  • Process results 160 solicited · 27 bids · as of 6 May 2011
  • Purchaser 1601812 Alberta Ltd. · the sale of the assets of each of Homes and Developments to the Successful Offeror · asset sale · price sealed · approved
  • + 4 more extracted facts
PDF
Service List
  • Counsel Lovatt LLP
PDF
Elaborate Developments First Report
  • Cash on hand $11K · Note: Balance in ATB bank account at date of appointment. · As at: 2011-02-22
  • Disbursements $337K · Note: Total disbursements for the period February 22, 2011 to March 16, 2011 per Statement of Receipts and Disbursements. · Since: February 22, 2011
  • Operational summary The Receiver is winding down operations, has determined it is not viable to complete unfinished houses or sell lots piecemeal, and is instead marketing the land and house assets for sale as a package to maximize realizations.
  • Receipts cumulative $404K · Note: Total receipts for the period February 22, 2011 to March 16, 2011 per Statement of Receipts and Disbursements. · Since: February 22, 2011
  • + 2 more extracted facts
PDF
Elaborate Homes First Report
  • Cash on hand $161K · Note: Represents excess of receipts over disbursements held in the Receiver's trust account as at the end of the reporting period. · As at: 2011-03-16
  • Financial position as at 22 Feb 2011 · per unaudited financial information, Homes records and discussions with previous management; Receiver has not performed an audit, review or other verification · Elaborate Homes Ltd. only (receivership estate); not consolidated with Elaborate Developments Inc. — No total assets/liabilities stated; components reported: Cash $2,353.41 (Feb 22, 2011); Accounts receivable $123,669 (expected to reduce to nil after contra claims/write-offs); House inventory net book value $8,515,543 across 38 houses (secured by ATB ~$3.2 million and Servus ~$2.7 million mortgages); Land inventory net book value ~$377,000; Deposits on land ~$444,000 (Receiver anticipates this may be overstated); Fixed assets net book value ~$414,000 (estimated liquidation value $50,000-$100,000); Corporate office appraised at $785,000, subject to mortgages of ~$1.36 million. Liability items noted: CRA source deductions claim $404,139.59 (of which $294,559.81 claimed as trust funds); GST claim $17,271.09 with anticipated additional liability of ~$122,000; builder's liens of $86,408 pre-receivership plus $139,580 filed since receivership.
  • Operational summary The Receiver terminated Homes' employees and ceased new home construction, maintaining only limited operations to complete a small number of pre-existing house sale agreements while marketing the remaining house, land, and fixed assets for sale through a tender process.
  • Report date 21 March 2011
  • + 1 more extracted fact
PDF
Elaborate Fact SheetPDF
Receivership Order - Developments
  • Applicant ALBERTA TREASURY BRANCHES
  • Appointee PricewaterhouseCoopers Inc.
  • Appointee role Receiver
  • Commencement date 22 February 2011
  • + 3 more extracted facts
PDF
Receivership Order - Homes
  • Applicant ALBERTA TREASURY BRANCHES
  • Appointee PricewaterhouseCoopers Inc.
  • Appointee role Receiver
  • Commencement date 22 February 2011
  • + 4 more extracted facts
PDF
Notice to Creditors - Elaborate Developments
  • Financial position Assets $10.9M · as at 31 Jan 2011 · per as reflected in the Company's books and records · entity - Elaborate Developments Inc. — Components: Accounts Receivable (excludes intercompany/related party receivables) $1,754,030; Land Inventory $9,122,511; total realizable assets $10,876,541. Secured creditor amounts as at Feb 23, 2011: several 'To be determined', stated totals ATB $2,863,405, Servus Credit Union $3,022,995, Great West Truck Lease & Rentals $300,000, sum shown $5,889,400. Unsecured creditors list total $615,320.79.
PDF
Notice to Creditors - Elaborate Homes
  • Financial position Assets $11.6M · as at 31 Jan 2011 · per Net Book Value of Realizable Assets as reflected in the Company's books and records; automotive and building figures from unaudited financial statements prepared by Meyers Norris Penny for year ending September 30, 2010 · Elaborate Homes Ltd. (entity level) — Accounts receivable excludes intercompany/related party receivables; total liabilities not stated in this document (secured creditor amount to be determined for several creditors)
  • Secured creditors Note: Amount to be determined; regulatory · Page: 3 · As of: 2011-02-22 · Debtor: Elaborate Homes Ltd. · Creditor: Workers' Compensation Board Alberta · Currency: CAD
  • Unsecured creditors $2.1K · Page: 6 · As of: 2011-02-23 · Basis: Creditors List as at February 23, 2011 · Debtor: Elaborate Homes Ltd. · Creditor: UDI Grande Prairie Chapter
PDF

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

CiteProceedings., “Elaborate Homes Ltd. and Elaborate Developments Inc” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/elaborate-homes-ltd-and-elaborate-developments-inc

Sources last checked · summary updated 5 September 2026 · Report a correction · Printed from proceedings.ca/case/elaborate-homes-ltd-and-elaborate-developments-inc

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.