Mayfield Investments Ltd. remains under court-appointed receivership commenced September 6, 2024 in the Court of King's Bench of Alberta under BIA s. 243 and provincial Judicature Act authority, court file 2403-12343. ATB Financial, the senior secured creditor, served demands for payment and Notices of Intention to Enforce Security under s. 244 of the BIA; its indebtedness stood at $38,902,672.68 as of September 3, 2024, and at approximately $38,800,000 as of the Appointment Date of October 24, 2024, supported by credit facility, general and additional security and a guarantee from Howard Pechet. Other registrations include a $2,896,339.73 builder's lien filed by ServiceMaster against the Medicine Hat Lodge title and a $1,500,000 original-principal mortgage held by Camrose Regional Exhibition & Agricultural Society over the Camrose Casino and Excess Lands. Orders were granted January 14 and February 21, 2025; the claims bar date was April 7, 2025, with a first-phase deadline of March 31, 2025 and a bid deadline of May 30, 2025.
Claims processIf you are owed money
The claims bar date has passed — claims were due by
The court granted an approval and vesting order for the sale to Salt & Pepper Farms Ltd. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser confirming payment of the Purchase Price and satisfaction/waiver of Article 8 closing conditions. Sealed: Confidential Appendix to the Tenth Report containing the unredacted Sale Agreement disclosing the deposit and purchase price.
The court granted an approval and vesting order for the sale to Salt & Pepper Farms Ltd. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.
ATB Financial's receivership of the Alberta hotel and casino company sold the Camrose Casino business for $5.5 million, the Camrose hotel for $6.1 million and the Medicine Hat Lodge package for $19.0 million; on August 21, 2026, Justice Dunlop approved the sale of 79.74 acres of excess land to Salt & Pepper Farms Ltd. at a sealed price, with ATB still owed about $19.2 million.
Parties
Debtor
Mayfield Investments Ltd.
Receiver
EY
Bench and counselPer the orders and service lists on the record
ATB Financial · in 56 casesCommitment Letter Credit Facilities (Medicine Hat Lodge Operating Loan, Medicine Hat Lodge Loan, Cooper Coulee Casino Loan, Camrose Operating Loan, Camrose Resort Casino Loan, Camrose Hotel & Banquet Loan, Letters of Guarantee Facility, EDC-BCAP Operating Loan); General Security Agreement (all present/after-acquired personal property, floating charge on lands and real property); Additional Security Agreements (Assignment of Deposit, Assignment of Insurance, assignment/postponement from Mayfield Shareholding Partnership); Guarantee of Howard Pechet — Indebtedness stated 'plus any and all accrui · as of 3 Sep 2024
$38.9M
2343-Filed-2024-09-05-Second Supplemental Affidavit of Muhammad Ashraf
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This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
unnamed non-binding LOI bidder for MHL and Vanshaw sharesan expression of interest to purchase MHL and 100% of the shares of Vanshaw, operating as the Copper Coulee Casino at MHL · assets and shares
purchaser under the Withdrawing Purchase Notice for Mayfield's 50% interest in 1995 / indirect interest in Vanshawthe offer to purchase Mayfield's 50% ownership in 1995 contained in the Withdrawing Purchase Notice · share sale
Capital City Casinos Ltd.the Debtors' right, title and interest in and to the 'Purchased Assets' (as defined in the APA) · asset sale · nominee/assignee: its nominee · agreement 13 Feb 2025
AdvisorsAvison Young (listing broker); Ernst & Young Inc. (financial advisor); MNP Ltd. (listing broker)Third Report of the Receiver
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.Approval and Vesting Order (Camrose Lands)
Sealed materialsConfidential Supplement to the Sixth Report; Confidential Supplement to the Seventh Report; Confidential Appendix to the Tenth Report containing the unredacted Sale Agreement disclosing the deposit and purchase priceApplication for AVO, Approval for Fees and Activities, and Sealing Order
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
Application (Approval and Vesting Order, Distribution Order, and Sealing Order)
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser confirming payment of the Purchase Price and satisfaction/waiver of Article 8 closing conditions.
Order date21 August 2026
PurchaserSalt & Pepper Farms Ltd. · the Debtor's right, title and interest in and to the Purchased Property · real property · approved
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.
Order date21 August 2026
PurchaserSalt & Pepper Farms Ltd. · the Debtor's right, title and interest in and to the Purchased Property · real property · approved
Sale outcomeSale approved — The Transaction is approved and vesting authorized pending closing certificate
Operational summaryThe Receiver operated the Medicine Hat Lodge until the closing of its sale (1004 Transaction) in February 2026, and has since focused on transition matters, evaluating the residual Chalmers/777 AB equity interest, pursuing insurance litigation matters, and completing distributions to ATB and creditors.
Cash on hand · Disbursements · Financial positionSubscribers
Application for Approval and Vesting Order, Distribution, and Sealing Order
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price, satisfaction/waiver of conditions to Closing, and completion of the Transaction.
Order date19 December 2025
Purchaser10042123 Manitoba Ltd. · the Medicine Hat Lodge (the 'MHL'), Mayfield's shares (the '1995 Shares') in 1995472 Alberta Ltd. and Mayfield's shares (the '205 Shares') in 2056986 Alberta Ltd. · assets and shares · approved
Closing confirmedClosed · 31 Mar 2025 · Capital City Casinos Ltd.; Closed · 31 Jul 2025 · Rose Country Investments Ltd.
Process results9 LOIs
Purchaser10042123 Manitoba Ltd. · the Medicine Hat Lodge (the 'MHL'), Mayfield's 50% interest in the shares of 2056986 Alberta Ltd. (the '205 Shares') and Mayfield's 50% interest in the shares of 1995472 Alberta Ltd. (the '1995 Shares') · assets and shares · proposed; Capital City Casinos Ltd. · the Camrose Casino · asset sale · closed; Rose Country Investments Ltd. · the Camrose Resort Casino Hotel (the 'CRC') · real property · closed
Recovery outcomeEntries: per unstated; per unstated; per unstated · Stated on: 2025-12-08 · Table missing:
Application for AVO, Approval for Fees and Activities, and Sealing Order
Closing termsVesting occurs upon delivery of a Receiver's Closing Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.
Order date14 July 2025
PurchaserRose Country Investments Ltd. · the Debtor's right, title and interest in and to the Purchased Assets · asset sale · approved
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price and satisfaction of closing conditions
Order date14 July 2025
PurchaserRose Country Investments Ltd. · the Debtor's right, title and interest in and to the Purchased Assets · asset sale · approved
Sale outcomeSale approved — The Transaction is approved
Court Order - Approval and Vesting Order (Sale by Receiver)
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price, satisfaction/waiver of conditions to Closing, and completion of the Transaction.
Order date21 February 2025
PurchaserCapital City Casinos Ltd. · nominee/assignee its nominee · the Debtors' right, title and interest in and to the 'Purchased Assets' (as defined in the APA) · asset sale · approved
Process results1 LOIs · 0 qualified bids · as of 31 May 2024
Purchaserunnamed non-binding LOI bidder for MHL and Vanshaw shares · an expression of interest to purchase MHL and 100% of the shares of Vanshaw, operating as the Copper Coulee Casino at MHL · assets and shares · not completed; purchaser under the Withdrawing Purchase Notice for Mayfield's 50% interest in 1995 / indirect interest in Vanshaw · the offer to purchase Mayfield's 50% ownership in 1995 contained in the Withdrawing Purchase Notice · share sale · not completed
Sale advisorErnst & Young Inc. (financial advisor); MNP LLP (listing broker); Avison Young (listing broker)
Sources last checked · summary updated 9 August 2026 · Report a correction · Printed from proceedings.ca/case/mayfield-investments-ltd
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.