Local First
- Proceeding
- Receivership (court-appointed)section 243 of the Bankruptcy and Insolvency Act (Canada), section 13 of the Judicature Act (Alberta) and section 65(7) of the Personal Property Security Act (Alberta)
- File
- 2501-01744
Local First is the subject of proceedings under the Bankruptcy and Insolvency Act in the Court of King's Bench of Alberta, court file 2501-01744, commenced February 21, 2025. A court officer report bearing the same date records the appointment of FTI Consulting Canada Inc. as receiver. The proceeding remains active. Beyond that appointment, the record before us contains no further filings, reports or hearings.
The court granted an approval and vesting order for the sale to Alaska First Media Inc. Closing terms, as extracted: Closing to occur on the Closing Date, with vesting effective upon delivery of the Receiver's Closing Certificate.
Brief in support of the Stalking Horse Sale and Approval order — Application / notice of application
The officer filed report no. Second Report. The Debtors' radio station operations continue on a going-concern basis under management supervision while the Receiver conducts a Sale Process; a Stalking Horse APA for the Alaska Assets has been accepted as the successful bid, and the Receiver is working with the highest bidder toward a separate sale of the Texas Assets.
Source: Second Report of the Receiver
Form 401 Petition re: Alaska Broadcast Communications, Inc. (Case No. 25-50052, Docket No. 1) — Application / notice of application
Form 401 Petition re: BTC USA Holdings Management Inc. (Case No. 25-50050, Docket No. 1) — Application / notice of application
Form 401 Petition re: Broadcast 2 Podcast, Inc. (Case No. 25-50053, Docket No. 1) — Application / notice of application
Form 401 Petition re: Local First Media Group Inc. (Case 25-41368 Docket No. 1) — Application / notice of application
Form 401 Petition re: Local First Properties Inc. (Case No. 25-41369, Docket No. 1) — Application / notice of application
Form 401 Petition re: Local First Properties USA Inc. (Case No. 25-50051, Docket No. 1) — Application / notice of application
Letter to Parties in Interest re Chapter 15 Bankruptcy Case Filings — Stakeholder communication
Motion For an Order Directing Joint Administration of Cases Under Chapter 15 of the Bankruptcy Code (Case 25-41368 Docket No. 3) — Application / notice of application
Verified Petition with Proposed Order (Case 25-41368 Docket No. 4) — Application / notice of application
The court appointed FTI Canada Consulting Inc. as Receiver, on the application of ATB FINANCIAL. Court file 2501-01744.
Source: Receivership Order
Debtor
Local First
Receiver
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dunlop | Court of King's Bench of Alberta | 2 orders, Oct 2025 – Jan 2026 | 56 cases on record |
| Justice Johnston | Court of King's Bench of Alberta | 2 orders, Jan 2026 | 55 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFTI | Norton Rose Fulbright Canada LLP | 16 Oct 2025 | Service list · 16 Oct 2025 |
| DebtorLocal First | Miller Thomson LLP | 21 Feb 2025 | Application · 21 Feb 2025 |
| Secured creditorATB Financial | Burnet Duckworth & Palmer LLP | 21 Feb 2025 | Service list · 16 Oct 2025 |
| CreditorNoel Webb | Osler, Hoskin & Harcourt LLP | 16 Oct 2025 | Service list · 16 Oct 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | ATB Financial · in 59 casesGeneral Security Agreements dated April 26, 2023 (all present and after-acquired personal property, plus floating charge on real property) granted by Local First Media and Local First Properties; Pledge Agreement dated April 26, 2023 granted by Local First Media over shares of BTC USA Holdings Management Inc. and Local First Properties USA Inc.; registered against Borrowers via Alberta PPR (Exhibits 12-13) — Indebtedness under commitment letter dated April 10, 2023, secured jointly and severally; also guaranteed and secured by Guarantors BTC USA Holdings Management Inc., Local First Properties · as of 5 Feb 2025 | $8.21M USD | Affidavit of Greg Steidl, sworn on February 10, 2025 |
2 transactions · 1 proposed · 1 closed — Approval and Vesting Order recognized and enforced; no competing offers exceeded stalking horse priceRecognition Order (Approval and Vesting Order) · 20 Feb 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| highest bidder among Texas Assets Bidders, unnamedthe Texas Assets · asset sale | not stated | Proposed | Second Report of the Receiver |
| Alaska First Media Inc.Stalking horsethe Debtors' right, title, and interest in and to the Alaska Assets · asset sale · nominee/assignee: its nominee · agreement 16 Oct 2025 | Subscribers | Closed2 Jun 2026 | Receiver's Certificate |
As at ·
Cumulative receipts
$96.2K
As at 12 Jan 2026Second Report of the 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.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Receiver's Certificate
| PDF · Subscribers | |
Recognition Order (Approval and Vesting Order)
| PDF · Subscribers | |
| Assumption Notice | PDF · Subscribers | |
| Declaration | PDF · Subscribers | |
| Notice of Hearing | PDF · Subscribers | |
| Sale Motion | PDF · Subscribers | |
Application (Stalking Horse Sale and Approval Order)
| PDF · Subscribers | |
Brief in support of the Stalking Horse Sale and Approval order
| PDF · Subscribers | |
Order (Sale Approval and Vesting Order)
| PDF · Subscribers | |
Second Report of the Receiver
| PDF · Subscribers | |
Form of NDA
| PDF · Subscribers | |
Local First - Teaser
| PDF · Subscribers | |
Sale Process Procedures
| PDF · Subscribers | |
| Application (Sale Process) | PDF · Subscribers | |
Brief (Sale Process)
| PDF · Subscribers | |
Order (Sale Process)
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
Notice and Statement of Receiver with Creditor Listing
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Recognition Order | PDF · Subscribers | |
| Application of Michael Berthiaume for Admission Pro Hac Vice to Represent FTI Consulting Canada Inc., Solely in its Capacity as Court-Appointed Receiver of the Debtors (Docket No. 9) | PDF · Subscribers | |
| Application of Steve A. Peirce for Admission Pro Hac Vice to Represent FTI Consulting Canada Inc., Solely in its Capacity as Court-Appointed Receiver of the Debtors (Docket No. 8) | PDF · Subscribers | |
| Certificate of Service (Docket No. 10) | PDF · Subscribers | |
| Certificate of Service (Docket No. 14) | PDF · Subscribers | |
| Form 401 Petition re: Alaska Broadcast Communications, Inc. (Case No. 25-50052, Docket No. 1) | PDF · Subscribers | |
| Form 401 Petition re: BTC USA Holdings Management Inc. (Case No. 25-50050, Docket No. 1) | PDF · Subscribers | |
| Form 401 Petition re: Broadcast 2 Podcast, Inc. (Case No. 25-50053, Docket No. 1) | PDF · Subscribers | |
| Form 401 Petition re: Local First Media Group Inc. (Case 25-41368 Docket No. 1) | PDF · Subscribers | |
| Form 401 Petition re: Local First Properties Inc. (Case No. 25-41369, Docket No. 1) | PDF · Subscribers | |
| Form 401 Petition re: Local First Properties USA Inc. (Case No. 25-50051, Docket No. 1) | PDF · Subscribers | |
| Letter to Parties in Interest re Chapter 15 Bankruptcy Case Filings | PDF · Subscribers | |
| Motion For an Order Directing Joint Administration of Cases Under Chapter 15 of the Bankruptcy Code (Case 25-41368 Docket No. 3) | PDF · Subscribers | |
| Notice of Filing of Petitions Pursuant to Chapter 15 of the Bankruptcy Code (Docket No. 12) | PDF · Subscribers | |
Receiver's List Filed Pursuant to Bankruptcy Rule 1007(A)(4) (Case 25-41368 Docket No. 2)
| PDF · Subscribers | |
| Supporting Declaration of Deryck Helkaa (Case 25-41368 Docket No. 5) | PDF · Subscribers | |
| Supporting Declaration of Howard Gorman (Case 25-41368 Docket No. 6) | PDF · Subscribers | |
| Verified Petition with Proposed Order (Case 25-41368 Docket No. 4) | PDF · Subscribers | |
Affidavit of Greg Steidl, sworn on February 10, 2025
| PDF · Subscribers | |
Brief in Support of Receivership Application
| PDF · Subscribers | |
| Consent to Act as Receiver | PDF · Subscribers | |
Receivership Application
| PDF · Subscribers | |
Receivership Order
| 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., “Local First” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/local-first