Inara

Inara Investments Inc. has been under court-appointed receivership since May 3, 2019, when ATB Financial obtained the appointment of Hardie & Kelly Inc. as receiver and manager in the Court of King's Bench of Alberta, file 1903 04598, under section 243(1) of the Bankruptcy and Insolvency Act together with provisions of the Judicature Act, the Business Corporations Act and the Personal Property Security Act. ATB ranks as first secured creditor on a general security agreement registered September 8, 1998 and was owed $1,145,901 as of April 10, 2019, with the receiver's counsel yet to opine on the validity of that security; ATB has since advanced an incremental $300,000 to the receiver under two Receiver's Certificates secured by a Receiver's Borrowing's Charge. Also claimed are $530,642.56 by Heritage Contracting and Interiors Ltd., disputed and unsecured, and $269,904 in Town of Whitecourt property taxes. The receivership remains active.