Luxor Land Ltd.
- 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
- Industry
- Real estate · Land holdings
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
Guide
Power of sale vs foreclosure vs receivership in Canada
When a Canadian borrower stops paying a mortgage, the lender can sell the property itself, ask a court to foreclose, or have a receiver take control. How the routes differ by province, what each means for owners and tenants, and how long a receivership takes, drawn from the court record.
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 | 3 orders, Aug 2026 | 59 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 101 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 | |||
| Secured | |||
| Secured |
3 more claims in 1 class The stack holds Secured claims.
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See all plansSale process approved — Sales Process approved for the Cascadia Lands and Azure LandsSales Process Order · 10 Aug 2026
As at ·
The total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Receiver's Certificate - Luxor Land Ltd. | PDF · Subscribers | |
| Receiver's Certificate - Mesa West Capital Corp. | PDF · Subscribers | |
Form 87 - Notice and Statement of the Receiver
| PDF · Subscribers | |
Application
| PDF · Subscribers | |
Bench Brief
| PDF · Subscribers | |
| Book of Authorities | PDF · Subscribers | |
Limited Receivership Order
| PDF · Subscribers | |
Receivership Order - Draft
| PDF · Subscribers | |
Restricted Court Access
| PDF · Subscribers | |
Sales Process Order
| PDF · Subscribers | |
| Supplemental Affidavit of Cory Stark | PDF · Subscribers | |
Affidavit of Cory Stark
| 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., “Luxor Land Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/luxor-land-ltd