Northern Bear Golf Club Inc. and NB Developments Ltd. remain the subject of active insolvency proceedings, with a receiver reporting on the two companies' assets and creditor listings. The receiver's estimate puts Land and Buildings at $5,069,709.00, being net book value as at December 31, 2014, with Equipment at $85,000.00 and Inventory at $88,000.00 taken from the companies' in-house balance sheet as at January 1, 2016; the property total is recorded as unknown because the mortgage amount is not known. Maxium Financial Services Inc. is the largest quantified secured claim at $4,349,093.80, followed by Strathcona County at $37,351.74 for municipal taxes. Bank of Montreal, Golf Lease Inc., Textron Financial Canada Ltd. and the Canada Revenue Agency also hold security interests in the described property. Adidas Canada, at $61,880.77, heads the unsecured list for the golf club; Westar Drilling Ltd. is listed at $51,117.15 against each company.
The officer filed report no. Second Report. The Receiver completed the en-bloc sale of Northern Bear's assets, terminated employees, assigned Northern Bear into bankruptcy, and is now proposing a final distribution and its own discharge. Court file 1602 18117.
Source: Second report of the receiver
Debtor
Northern Bear Golf Club Inc. and NB Developments Ltd.
Receiver
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesSecurity interest in property described — Debt owing for employee source deductions, if any, currently not known; deemed trust class — debtor: Northern Bear Golf Club Inc. & NB Developments Ltd. | — | Notice and statement of the receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
72 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
CRA: a distribution.FinalSecond report of the receiver · 8 Nov 2017
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | CRA | — | Finalper the receiver | Second report of the receiver · 8 Nov 2017 | |
| Secured | Golf Lease Inc. | — | Finalper the receiver | Second report of the receiver · 8 Nov 2017 | |
| Secured | Maxium | — | short by final | Finalper the receiver | Second report of the receiver · 8 Nov 2017 |
| Preferred | Service Canada | — | Finalper the receiver | Second report of the receiver · 8 Nov 2017 |
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.
4 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$4.3M
As at 8 Nov 2017Second report of the receiver
Cash on hand
As at
Professional fees
As at
2 more reported figures, and 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 |
|---|---|---|
Second report of the receiver
| PDF · Subscribers | |
Notice and statement of the receiver
| PDF · Subscribers | |
Information summary
| 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., “Northern Bear Golf Club Inc. and NB Developments Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/northern-bear-golf-club-inc-and-nb-developments-ltd
Sources last checked · summary updated 5 September 2026 · Report a correction · Printed from proceedings.ca/case/northern-bear-golf-club-inc-and-nb-developments-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.