North Calgary Land Ltd (Receivership)
Follow- Proceeding
- Receivership (court-appointed)section 243 of the Bankruptcy and Insolvency Act
- File
- 500-11-041305-117
- Industry
- Real estate · Land holdings
North Calgary Land Ltd has been under court-appointed receivership since May 23, 2017, when the Superior Court of Québec (Commercial Division) appointed PricewaterhouseCoopers Inc. as receiver on the application of HSBC Bank Canada. The appointment was made under section 243 of the Bankruptcy and Insolvency Act and carries court file number 500-11-041305-117. The proceeding remains active.
The court granted an approval and vesting order for the sale to Balzac-Points North JV Inc. Closing terms, as extracted: Title vests in the Purchaser upon issuance of the Receiver's certificate; the Receiver's certificate follows execution and delivery of the Purchase Agreement, payment of the Purchase Price and satisfaction or waiver of all closing conditions. Sealed: The Purchase Agreement (Irrevocable Offer to Purchase) is kept confidential and under seal until the earlier of closing of the Transaction or further court order. Court file 500-11-041305-117.
Source: Approval and Vesting Order
On HSBC Bank Canada's application under section 243 of the BIA, the Superior Court of Québec appointed PricewaterhouseCoopers Inc. receiver, commencing the proceeding.
Source: Receivership Order
Debtor
North Calgary Land Ltd (Receivership)
Receiver
PwC
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Receiver's attorneys and other advisors (Administration Charge)as of Effective Time: 12:01 a.m. (Montreal time) on the day of the Order (2017-05-23) — Administration Charge over NCLL's Properties, present and future; ranks ahead of all other Encumbrances — Court-ordered priority charge for professional fees of the Receiver, its attorneys and advisors; stated as a maximum ('to the extent of the aggregate amount of $80,000'), not an outstanding balance. — debtor: North Calgary Land Ltd. | $80K | Receivership Order |
| Secured | |||
| Secured |
2 more claims in 1 class The stack holds Secured claims.
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See all plansThis 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.
Sale approved — Alberta consent order implementing the Quebec approval and vesting order for the sale of North Calgary Land Ltd.'s Alberta real property to Balzac-Points North JV Inc.; closing awaits the Receiver's Certificate.Consent Order to Implement Aproval and Vesting Order · 8 Jun 2018
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Balzac-Points North JV Inc.the Purchased Assets, including the Lands (Alberta real property of North Calgary Land Ltd.) · real property | Subscribers | Approved23 May 2017 | Approval and Vesting Order |
| Date | Document | File |
|---|---|---|
Consent Order to Implement Aproval and Vesting Order
| PDF · Subscribers | |
245 246 Notice
| PDF · Subscribers | |
Approval and Vesting Order
| 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., “North Calgary Land Ltd (Receivership)” (Receivership (court-appointed)), Superior Court of Québec. Retrieved 16 October 2026, https://proceedings.ca/case/north-calgary-land-ltd