Luxor Land Ltd.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, section 65(1) of the Alberta Personal Property Security Act, section 49(2) of the Law of Property Act, and section 13(2) of the Judicature Act
- File
- 2503 11203
Luxor Land Ltd. is in court-appointed receivership, MNP Ltd. having been appointed receiver over the Azure Lands and Cascadia Lands in Edmonton and related personal property by order of the Court of King's Bench of Alberta dated August 10, 2026, on the application of National Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act (Court File No. 2503 11203). NBC's loan to Luxor and co-borrower Mesa West Capital Corp. matured May 15, 2025 and demand issued May 16, 2025; the bank claims $10,898,181.59 as at July 29, 2026, secured by a January 8, 2019 mortgage and general security agreement, with interest accruing at $1,890.84 per day. City of Edmonton tax arrears of $1,144,565.72 were paid by NBC and added to the debt. The same order approved a sale process, with bids due October 8, 2026.
Same-day order approving a sale process for the Azure and Cascadia Lands, to be run by MNP Ltd. as receiver, with bids due October 8, 2026.
Source: Sales Process Order
Appointed a receiver over the Azure and Cascadia Lands in Edmonton and related personal property on NBC's application under BIA s. 243(1), Judicature Act s. 13(2), Law of Property Act s. 49(2) and PPSA s. 65(7).
Source: Receivership Order - Draft
Filing brief
Luxor Land: the listing that didn't sell
National Bank extended a $12 million land loan on two Edmonton parking lots six times, then demanded. Rather than appoint a receiver in 2025 it agreed to a consensual judicial listing, cut the asking price in April, and got no offer it would accept. It also paid $1,144,565.72 of the borrower's property taxes to stop a tax sale of its own collateral. On August 10 it came back for the receiver.
Debtor
Luxor Land Ltd.
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Burns | Court of King's Bench of Alberta | 2 orders, Aug 2026 | 41 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorNational Bank of Canada | McLennan Ross LLP | 10 Aug 2026 | Factum · 10 Aug 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | National Bank of Canada · in 87 casesMortgage dated Jan 8, 2019 (instrument no. 192 019 916) over the Lands; General Security Agreement dated Jan 8, 2019 over all present and after-acquired real and personal property; General Assignment of Rents and Leases (Caveat instrument no. 192 019 917); Demand Note dated Jan 15, 2019; PPSA financing statement registered June 27, 2018 (Reg. No. 18122708633) covering all present and after-acquired property of the Borrower at the Lands — Under the Loan, $12,236,709.71 owing plus separately a cost account of $36,250.27, both as at July 18, 2025 (Exhibit BB); interest continues to accrue at 7.45 · as of 18 Jul 2025 | $12.2M | Affidavit of Cory Stark |
| Secured | City of Edmonton (municipal property taxes) · in 27 casesMunicipal property tax arrears constituting a charge on the Cascadia Lands — "Cascadia Tax Debt"; Lands scheduled for tax sale by City of Edmonton in October 2025 if unpaid. — debtor: Cascadia Limited Partnership / Cascadia Lands · as of 10 Jul 2025 | $775K | Affidavit of Cory Stark |
| Secured | City of Edmonton (municipal property taxes) · in 27 casesMunicipal property tax arrears constituting a charge on the 107 Street Lands — "107 Street Tax Debt"; Lands scheduled for tax sale by City of Edmonton in October 2025 if unpaid. — debtor: 107 Street Limited Partnership / 107 Street Lands · as of 10 Jul 2025 | $594K | Affidavit of Cory Stark |
| Secured | City of Edmonton (municipal property taxes) · in 27 casesMunicipal property tax arrears constituting a charge on the Azure Lands — "Azure Tax Debt"; Lands scheduled for tax sale by City of Edmonton in October 2025 if unpaid. — debtor: Azure Limited Partnership / Azure Lands · as of 10 Jul 2025 | $325K | Affidavit of Cory Stark |
Sale process approved — Sales Process approved for the Cascadia Lands and Azure LandsSales Process Order · 10 Aug 2026
per The estimated amount owed by the Companies to each creditor who holds security on the assets described above · Luxor Land Ltd. and Mesa West Capital Corp. (the Companies); secured creditors only, as it relates to the assets under receivership — excludes unsecured creditors, which are listed separately — Assets table (Estimated Realization $) lists Cash in bank, Real Property (1) and Real Property (2) all as 'Unknown'. Secured liabilities total is an approximation and includes at least one creditor (WCB - Alberta) whose amount owing is noted as 'Amount owing unknown as at date of Receivership'; that unknown date is tied to the Receivership date of August 10, 2026, while the separately-listed unsecured creditors amounts are as at August 14, 2026.
| Date | Document | File |
|---|---|---|
| Receiver's Certificate - Luxor Land Ltd. | ||
| Receiver's Certificate - Mesa West Capital Corp. | ||
Form 87 - Notice and Statement of the Receiver
| ||
Application
| ||
Bench Brief
| ||
| Book of Authorities | ||
Receivership Order - Draft
| ||
Restricted Court Access
| ||
Sales Process Order
| ||
| Supplemental Affidavit of Cory Stark | ||
Affidavit of Cory Stark
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Luxor Land Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/luxor-land-ltd