Kitimat Development Group Inc. and Hotels and Resorts of Kitimat

Kitimat Development Group Inc., together with Hotels and Resorts of Kitimat, was placed in court-appointed receivership under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, with the Receiver taking possession of the company's property on June 16, 2015. As at that date, the property over which the Receiver was appointed carried a net book value per company records of CAD 4,711,463, including investments in and amounts due from the related entities Hotels and Resorts of Kitimat (AB/BC) Inc. and Albatross/Stonebridge Holdings (AB/ON) Inc.; no liabilities figure was stated. Secured claims registered in the Alberta Personal Property Registry comprise CAD 4,252,443 owing to Backstop Holdings Corp. and an amount recorded as unknown owing to related party Stonebridge Holdings (AB/ON) Inc. Company accounting records list CAD 388,434 owing to Aberfeld Inc. on an unsecured basis. The proceeding is closed.