Luxor Land Ltd. and Mesa West Capital Corp.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3
- File
- 2603-15449
- Industry
- Real estate
Luxor Land Ltd. and Mesa West Capital Corp. have been placed in receivership by the Court of King's Bench of Alberta, which pronounced a receivership order on August 14, 2026 under Court File No. 2603-15449. The order appoints AlixPartners Restructuring, Inc. as receiver and manager of the two companies. The application was brought by MCAP Financial Corporation, acting as agent for and on behalf of Computershare Trust Company of Canada, and rests on section 243(1) of the Bankruptcy and Insolvency Act and section 13(2) of Alberta's Judicature Act. The receivership remains active.
Notice of Application for Approval of Sales Process, filed October 6, 2026 — Application / notice of application
First Report of the Receiver dated October 5, 2026 and filed October 6, 2026 — Court officer report
Order pronounced appointing AlixPartners Restructuring, Inc. receiver and manager of Luxor Land and Mesa West Capital on MCAP Financial Corporation's application, commencing the receivership.
Alberta Template Receivership Order and 2026 07 13 - DRAFT Receivership Order — Receivership order
Book of Authorities of the Receiver (Cassels), filed July 17, 2026 — Application / notice of application
Application to Appoint Receiver (Cassels), filed July 14, 2026 was filed. Court file 2603-15449.
Source: Application to Appoint Receiver (Cassels), filed July 14, 2026
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
WSP Place: two years of forbearance, then a receiver
On August 14 an Alberta judge appointed AlixPartners receiver of WSP Place, a 12-storey Edmonton office tower. MCAP, servicer of the tower's $38 million 2018 mortgage loan, puts the debt at $44,643,306.18 and says the owners let lapse an offer it understands topped the appraised value; their principal says MCAP has run the building since 2024.
Debtor
Luxor Land Ltd. and Mesa West Capital Corp.
Receiver
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Burns | Court of King's Bench of Alberta | 2 orders, Aug 2026 | 57 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlixPartners | DLA Piper (Canada) LLP | 6 Oct 2026 | Service list · 6 Oct 2026 |
| Applicant | Cassels Brock & Blackwell LLP | 17 Jul 2026 | Service list · 17 Jul 2026 |
| DebtorLuxor Land Ltd. and Mesa West Capital Corp. | Duncan & Craig LLP | 17 Jul 2026 | Service list · 17 Jul 2026 |
| CreditorChandos Construction | Gowling WLG (Canada) LLP | 6 Oct 2026 | Service list · 6 Oct 2026 |
| CreditorCourier | Ogilvie LLP · Swainson Miki Peskett LLP · Miller Thomson LLP | 17 Jul 2026 | Service list · 17 Jul 2026 |
| CreditorMCAP | Cassels Brock & Blackwell LLP | 17 Jul 2026 | Factum · 17 Jul 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | MCAP Financial Corporation in its capacity as master servicer and special servicer of a mortgage loan held by Computershare Trust Company of Canada as custodian on behalf of Real Estate Asset LiquiditPer Receiver's list of creditors compiled from unaudited books and records and PPR/land title search review; amounts subject to change, which may be material. · as of 24 Aug 2026 | $44.6M | Notice Statement of the Receiver dated August 24, 2026 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
21 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
$9 today, then $99 a month from day 8. Cancel anytime.
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See all plansAs at ·
The total the debtor stated at filing
Each one as the filing states it, with its source.
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Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Letter to Service List dated October 6, 2026
| PDF · Subscribers | |
Notice of Application for Approval of Sales Process, filed October 6, 2026
| PDF · Subscribers | |
First Report of the Receiver dated October 5, 2026 and filed October 6, 2026
| PDF · Subscribers | |
Notice Statement of the Receiver dated August 24, 2026
| PDF · Subscribers | |
Receivership Order dated August 17, 2026
| PDF · Subscribers | |
Sealing Order dated August 17, 2026
| PDF · Subscribers | |
| Affidavit of George Schluessel, sworn August 12, 2026 | PDF · Subscribers | |
Alberta Template Receivership Order and 2026 07 13 - DRAFT Receivership Order
| PDF · Subscribers | |
LT Service List re Adjournment dated July 20, 2026
| PDF · Subscribers | |
Bench Brief of the Receiver (Cassels), filed July 17, 2026
| PDF · Subscribers | |
| Book of Authorities of the Receiver (Cassels), filed July 17, 2026 | PDF · Subscribers | |
LT Service List re Application Materials dated July 17, 2026
| PDF · Subscribers | |
LT Service List re filed Copies of Application Materials dated July 17, 2026
| PDF · Subscribers | |
| Affidavit of Ifti Rashid (Cassels), filed July 14, 2026 | PDF · Subscribers | |
Application to Appoint Receiver (Cassels), filed July 14, 2026
| PDF · Subscribers | |
| Statement of Claim (Cassels), filed July 14, 2026 | 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. and Mesa West Capital Corp.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 16 October 2026, https://proceedings.ca/case/luxor-land-ltd-and-mesa-west-capital-corp