Proceedings.

One Properties Paramount Limited Partnership

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Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Court
Court of King's Bench of Alberta
Filings held20
Last activity15 Jul 2026
On the record362 days
Secured debt$9.09M
OverviewSummary updated

One Properties Paramount Limited Partnership, through its general partner One Properties Paramount GP Inc., has been in court-appointed receivership under section 243 of the Bankruptcy and Insolvency Act since September 24, 2025. National Bank of Canada, successor to Canadian Western Bank, is owed $9,086,011.57 as at July 31, 2025 under a facility capped at $9,000,000 in principal, with interest running at 6.35% per annum, or $1,572.47 a day, secured by a first mortgage over the Paramount Lands, a general security agreement and an assignment of rents. The City of Edmonton holds a $254,651 property tax claim ranking ahead of the bank, payable from sale proceeds on closing. The Receiver expects National Bank to suffer a shortfall on the contemplated sale, leaving nothing for the subordinate encumbrancers.

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One Properties Paramount Limited Partnership — Receivership filed, Alberta.

AnalysisAll insights⁠

Filing brief

One Properties Paramount: an empty theatre on Jasper Avenue

The Paramount has been dark. Its owner's receiver took possession last September, fielded the City of Edmonton's correspondence about graffiti and loitering, and marketed four addresses unpriced for six months to 777 online viewers. On June 29 it asked the court to approve an unconditional sale — against $9,086,012 owed to National Bank and $254,651 of unpaid property taxes to the city.

Parties

Debtor

One Properties Paramount Limited Partnership

Applicant

National Bank of Canada

Receiver

MNP

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice MarionCourt of King's Bench of Alberta3 orders, Jul 202624 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverMNPMiller Thomson LLP29 Jun 2026Service list · 29 Jun 2026
ApplicantNational Bank of CanadaMcLennan Ross LLP · Swainson Miki Peskett LLP11 Sep 2025Service list · 29 Jun 2026
DebtorOne Properties Paramount Limited PartnershipDla Piper LLP29 Jun 2026Service list · 29 Jun 2026
CreditorATB Financial and Servus Credit Union Ltd. Caveat Registration No. 252 115 747Norton Rose Fulbright Canada LLP29 Jun 2026Service list · 29 Jun 2026
CreditorLuxor Lands Ltd. and Mesa West Capital Corp. Caveat Registration Nos. 192 004 319 and 192 004 320Bryan & Company LLP29 Jun 2026Service list · 29 Jun 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale · 3 named without a figure
Priority classCreditorAmountSource
SecuredNational Bank of Canada (successor in interest to Canadian Western Bank) · in 87 casesFirst ranking mortgage dated December 7, 2018 over the Paramount Lands, principal amount $9,000,000, registered as Alberta Land Titles instrument 192 004 316; general security agreement dated December 7, 2018 over all present and after-acquired personal property, registered at Alberta PPR November 14, 2018; general assignment of rents and leases dated December 7, 2018 (instrument 192 317); environmental agreement and indemnity dated December 18, 2018 — Senior/primary secured lender; National Bank also obtained various guarantees in connection with the lending arrangements (guarantors not named · as of 31 Jul 2025$9.09MReceiver's First Report to Court
SecuredCity of Edmonton · in 27 casesas of 2026-06-30 (property tax due date, projected) — Unpaid municipal property taxes for 2025 and 2026 — Priority claim ranking ahead of National Bank per Receiver's analysis; to be paid from proceeds of sale of the Paramount Lands upon closing. — debtor: One Properties Paramount GP Inc. / One Properties Paramount Limited Partnership$255KReceiver's First Report to Court
SecuredLuxor Land Ltd. and Mesa West Capital Corp.Second-ranking mortgage registered January 8, 2019 (instrument 192 004 318), original principal amount $3,000,000, subject to amending agreements registered 2021, 2022 and 2022 (instruments 212 032 745, 222 074 065, 222 267 853); also holds Caveat: Assignment of Rents and Leases and Caveat: Vendor's Lien (instrument 192 004 319) registered same date — Subordinate ('Additional Paramount Lands Encumbrancer') to National Bank's mortgage; Receiver anticipates no sale proceeds will be available for distribution to this creditor due to National Bank's expected shortfall. Amount shown is original reg—Receiver's First Report to Court
SecuredCanada ICI Capital Corporation · in 8 casesCaveat: Assignment of Interest registered April 3, 2020 (instrument 202 088 243), re-registered January 9, 2025 (instrument 252 006 953) — Subordinate ('Additional Paramount Lands Encumbrancer'); no amount stated; Receiver anticipates no sale proceeds available to this creditor. — debtor: One Properties Paramount GP Inc.—Receiver's First Report to Court
SecuredATB Financial and Servus Credit Union Ltd.Caveat: Assignment of Interest registered May 2, 2025 (instrument 252 115 747) — Subordinate ('Additional Paramount Lands Encumbrancer'); no amount stated; Receiver anticipates no sale proceeds available to this creditor. — debtor: One Properties Paramount GP Inc.—Receiver's First Report to Court

“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

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.

RecoveriesAs stated in the filings

Secured creditors: no distribution. National Bank of Canada short.Application – dated 2026-06-29 · 29 Jun 2026

ClassCreditorClaimsRecoveryBasisSource
Securedother creditors (secured or unsecured) ranking behind National Bank—no distributionper the receiverApplication – dated 2026-06-29 · 29 Jun 2026
SecuredNational Bank of Canada—shortfallper the receiverApplication – dated 2026-06-29 · 29 Jun 2026

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.

Fees and ratesAs stated in the filings

7 engagements · 2 firms — latest: MNP Ltd., 22 Sep 2025 – 31 May 2026, $80,491.95 soughtAffidavit of Kristin Gray · 29 Jun 2026

FirmPeriodHoursFeesRatesSource
MNP Ltd.Receiverperiod 5 of 522 Sep 2025 – 31 May 2026Sought—$80,491.95ex. taxnot statedAffidavit of Kristin Gray · 29 Jun 2026
MNP Ltd.Receiverperiod 5 of 51 May – 31 May 202620.2$6,537.70ex. tax$235 – $7054 peopleAffidavit of Kristin Gray · 29 Jun 2026
4 people — MNP Ltd., 1 May – 31 May 2026
NameTitleHoursRateFees
Kristin GraySenior Vice President2.2$705$1,551.00
Brandon BruceConsultant2.3$384$883.20
Noah JiwaAnalyst13.8$265$3,657.00
Jheanel MontgomeryAdministration1.9$235$446.50
MNP Ltd.Receiverperiod 3 of 51 Mar – 31 Mar 202617.1$5,931.20ex. tax$235 – $7057 peopleAffidavit of Kristin Gray · 29 Jun 2026
7 people — MNP Ltd., 1 Mar – 31 Mar 2026
NameTitleHoursRateFees
Kristin GraySenior Vice President1.9$705$1,339.50
Steven BarlottManager2.8$435$1,218.00
Mark ShtayManager0.2$415$83.00
Brandon BruceConsultant0.9$384$345.60
Comfort UcheSenior Analyst0.2$318$63.60
Noah JiwaAnalyst9.1$265$2,411.50
Jheanel MontgomeryAdministration2$235$470.00
MNP Ltd.Receiverperiod 2 of 51 Jan – 31 Jan 202629.5$10,327.50ex. tax$265 – $7055 peopleAffidavit of Kristin Gray · 29 Jun 2026
5 people — MNP Ltd., 1 Jan – 31 Jan 2026
NameTitleHoursRateFees
Kristin GraySenior Vice President3.2$705$2,256.00
Steven BarlottManager4.6$435$2,001.00
Brandon BruceConsultant2.6$384$998.40
Comfort UcheSenior Analyst0.2$318$63.60
Noah JiwaAnalyst18.9$265$5,008.50
MNP Ltd.Receiverperiod 1 of 522 Sep – 31 Dec 2025108.45$44,419.65ex. tax$235 – $70510 peopleAffidavit of Kristin Gray · 29 Jun 2026
10 people — MNP Ltd., 22 Sep – 31 Dec 2025
NameTitleHoursRateFees
Kristin GraySenior Vice President20$705$14,100.00
Steven BarlottManager36.6$435$15,921.00
Mark ShtayManager2.3$415$954.50
Brandon BruceConsultant0.3$384$115.20
Ryan GnenzConsultant3.5$340$1,190.00
Comfort UcheSenior Analyst0.4$318$127.20
Isobel SmithSenior Administration11.2$265$2,968.00
Megan SchaferSenior Administration0.1$265$26.50
Noah JiwaAnalyst33.85$265$8,970.25
Melora WestmanAdministration0.2$235$47.00
Miller Thomson LLPCounsel to the receiverperiod 2 of 28 Aug 2025 – 31 Mar 2026—$17,773.00ex. taxnot statedAffidavit of Kristin Gray · 29 Jun 2026
Miller Thomson LLPCounsel to the receiverperiod 1 of 2——$5,336.50not statedAffidavit of Kristin Gray · 29 Jun 2026

Top rate $705 · 26th percentile of receiver rates, 2026 · of 55

Documents
20 filings
DateDocumentFile
Distribution, Activity Approval, Fee Approval and Discharge Order
  • Presiding officer Justice M.A. Marion
PDF
Sale Approval and Vesting Order
  • Presiding officer Justice M.A. Marion
PDF
Sealing Order
  • Presiding officer Justice M.A. Marion
PDF
Affidavit of Kristin Gray
  • Fee schedule Engagements: Form: invoice_listing · Rows: · Money: Tax: $4.03K · Label: GST · Quote: 4,025.05 · Fees: $80.5K · Quote: 80,491.95 · Total: $84.5K · Quote: 84,521.40 · includes tax · includes disbursements · Approximate: false · Disbursements: $4 · Quote: 4.40 · Period: End: 2026-05-31 · Kind: cumulative · Label: For the period of September 22, 2025, to May 31, 2026 · Quote: For the period of September 22, 2025, to May 31, 2026 · Start: 2025-09-22 · Approval: Quote: I make this Affidavit in support of the application to approve the fees and GST of $84,521.40 which have been rendered by MNP Ltd. as Receiver · State: sought · Averages: · Currency: · Invoices: Tax: 2221.42 · Date: 2026-01-29 · Fees: 44419.65 · Quote: September 22, 2025 to December 31, 2025 | 01292026 | 44,419.65 | 4.40 | 2,221.42 | 46,645.47 · Total: 46645.47 · Period end: 2025-12-31 · Period start: 2025-09-22 · Disbursements: 4.4; Tax: 516.38 · Date: 2026-02-18 · Fees: 10327.5 · Quote: January 1, 2026 to January 31, 2026 | 02182026 | 10,327.50 | | 516.38 | 10,843.88 · Total: 10843.88 · Period end: 2026-01-31 · Period start: 2026-01-01; Tax: 381.82 · Date: 2026-03-17 · Fees: 7636.4 · Quote: February 1, 2026 to February 28, 2026 | 03172026 | 7,636.40 | | 381.82 | 8,018.22 · Total: 8018.22 · Period end: 2026-02-28 · Period start: 2026-02-01; Tax: 296.56 · Date: 2026-04-15 · Fees: 5931.2 · Quote: March 1, 2026 to March 31, 2026 | 04152026 | 5,931.20 | | 296.56 | 6,227.76 · Total: 6227.76 · Period end: 2026-03-31 · Period start: 2026-03-01; Tax: 281.98 · Date: 2026-05-12 · Fees: 5639.5 · Quote: April 1, 2026 to April 31, 2026 | 05122026 | 5,639.50 | | 281.98 | 5,921.48 · Total: 5921.48 · Period end: 2026-04-31 · Period start: 2026-04-01; Tax: 326.89 · Date: 2026-06-10 · Fees: 6537.7 · Quote: May 1, 2026 to May 31, 2026 | 06102026 | 6,537.70 | | 326.89 | 6,864.59 · Total: 6864.59 · Period end: 2026-05-31 · Period start: 2026-05-01 · Firm text: MNP Ltd. · Firm quote: MNP Ltd. was appointed receiver and manager of One Properties Paramount Limited Partnership · Context quote: I make this Affidavit in support of the application to approve the fees and GST of $84,521.40 which have been rendered by MNP Ltd. as Receiver; Form: time_summary · Rows: Kristin Gray; Steven Barlott; Mark Shtay; Brandon Bruce; Ryan Gnenz; Comfort Uche; Noah Jiwa; Isobel Smith; Megan Schafer; Melora Westman · Money: Tax: $2.22K · Label: GST · Quote: 2,221.20 · Fees: $44.4K · Quote: 44,419.65 · Total: $46.6K · Quote: $46,645.25 · includes tax · includes disbursements · Approximate: false · Disbursements: $4 · Quote: 4.40 · Period: End: 2025-12-31 · Kind: invoice · Quote: The time incurred by members of the staff of MNP Ltd. on this assignment regarding the Company for the period September 22, 2025 to December 31, 2025 was as follows: · Start: 2025-09-22 · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: MNP Ltd. · Firm quote: MNP Ltd. was appointed receiver and manager of One Properties Paramount Limited Partnership · Hours total: Quote: 108.45 · Value: 108.45 · Context quote: The time incurred by members of the staff of MNP Ltd. on this assignment regarding the Company for the period September 22, 2025 to December 31, 2025 was as follows:; Form: time_summary · Rows: Kristin Gray; Steven Barlott; Brandon Bruce; Comfort Uche; Noah Jiwa · Money: Tax: $516 · Label: GST · Quote: 516.38 · Fees: $10.3K · Quote: $10,327.50 · Total: $10.8K · Quote: $10,843.88 · includes tax · Approximate: false · Period: End: 2026-01-31 · Kind: invoice · Quote: The time incurred by members of the staff of MNP Ltd. on this assignment regarding the Company for the period January 1, 2026 to January 31, 2026 was as follows: · Start: 2026-01-01 · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: MNP Ltd. · Firm quote: MNP Ltd. was appointed receiver and manager of One Properties Paramount Limited Partnership · Hours total: Quote: 29.50 · Value: 29.5 · Context quote: The time incurred by members of the staff of MNP Ltd. on this assignment regarding the Company for the period January 1, 2026 to January 31, 2026 was as follows:; Form: time_summary · Rows: Kristin Gray; Steven Barlott; Mark Shtay; Brandon Bruce; Comfort Uche; Noah Jiwa; Jheanel Montgomery · Money: Tax: $297 · Label: GST · Quote: 296.56 · Fees: $5.93K · Quote: $5,931.20 · Total: $6.23K · Quote: $6,227.76 · includes tax · Approximate: false · Period: End: 2026-03-31 · Kind: invoice · Quote: The time incurred by members of the staff of MNP Ltd. on this assignment regarding the Company for the period March 1, 2026 to March 31, 2026 was as follows: · Start: 2026-03-01 · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: MNP Ltd. · Firm quote: MNP Ltd. was appointed receiver and manager of One Properties Paramount Limited Partnership · Hours total: Quote: 17.10 · Value: 17.1 · Context quote: The time incurred by members of the staff of MNP Ltd. on this assignment regarding the Company for the period March 1, 2026 to March 31, 2026 was as follows:; Form: time_summary · Rows: Kristin Gray; Brandon Bruce; Noah Jiwa; Jheanel Montgomery · Money: Tax: $327 · Label: GST · Quote: 326.89 · Fees: $6.54K · Quote: $6,537.70 · Total: $6.86K · Quote: $6,864.59 · includes tax · Approximate: false · Period: End: 2026-05-31 · Kind: invoice · Quote: The time incurred by members of the staff of MNP Ltd. on this assignment regarding the Company for the period May 1, 2026 to May 31, 2026 was as follows: · Start: 2026-05-01 · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: MNP Ltd. · Firm quote: MNP Ltd. was appointed receiver and manager of One Properties Paramount Limited Partnership · Hours total: Quote: 20.20 · Value: 20.2 · Context quote: The time incurred by members of the staff of MNP Ltd. on this assignment regarding the Company for the period May 1, 2026 to May 31, 2026 was as follows:; Form: invoice_listing · Rows: · Money: Tax: $894 · Label: GST · Quote: 894.13 · Fees: $17.8K · Quote: 17,773.00 · Total: $19K · Quote: 19,026.54 · includes tax · includes disbursements · Approximate: false · Disbursements: $359 · Quote: 359.41 · Period: End: 2026-03-31 · Kind: cumulative · Quote: For the period of August 8, 2025, to March 31, 2026 · Start: 2025-08-08 · Approval: Quote: I make this Affidavit in support of the application to approve the fees, disbursements, other charges, and GST of $19,026.54which have been rendered by Miller Thomson LLP, counsel to the Receiver, withinthis Action. · State: unstated · Averages: · Currency: · Invoices: Tax: 272.3 · Date: 2025-09-30 · Fees: 5336.5 · Quote: Miller Thomson LLP | September 30, 2025 | 4175961 | 5,336.50 | 229.41 | 272.30 | 5,838.21 · Total: 5838.21 · Disbursements: 229.41; Tax: 222.6 · Date: 2025-10-31 · Fees: 4452 · Quote: Miller Thomson LLP | October 31, 2025 | 4182805 | 4,452.00 | 130.00 | 222.60 | 4,804.60 · Total: 4804.6 · Disbursements: 130; Tax: 89.65 · Date: 2025-11-30 · Fees: 1793 · Quote: Miller Thomson LLP | November 30, 2025 | 4193676 | 1,793.00 | | 89.65 | 1,882.65 · Total: 1882.65; Tax: 5.3 · Date: 2025-12-31 · Fees: 106 · Quote: Miller Thomson LLP | December 31, 2025 | 4212144 | 106.00 | | 5.30 | 111.30 · Total: 111.3; Tax: 261.23 · Date: 2026-01-31 · Fees: 5224.5 · Quote: Miller Thomson LLP | January 31, 2026 | 4223538 | 5,224.50 | | 261.23 | 5,485.73 · Total: 5485.73; Tax: 43.05 · Date: 2026-03-31 · Fees: 861 · Quote: Miller Thomson LLP | March 31, 2026 | 4241300 | 861.00 17,773.00 | | 43.05 | 904.05 · Total: 904.05 · Firm text: Miller Thomson LLP · Firm quote: Miller Thomson LLP · Context quote: I make this Affidavit in support of the application to approve the fees, disbursements, other charges, and GST of $19,026.54 which have been rendered by Miller Thomson LLP, counsel to the Receiver · Context unverified: true; Form: invoice_listing · Rows: · Money: Fees: $5.34K · Quote: Fees: $5,336.50 · Approximate: false · Disbursements: $229 · Quote: Disbursements: $229.41 · Period: Kind: invoice · Quote: Invoice Number 4175961 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: Miller Thomson LLP · Firm quote: Miller Thomson LLP · Context quote: Invoice Number 4175961
PDF
Application – dated 2026-06-29
  • Recovery outcome Entries: per unstated; per unstated · Table missing:
PDF
Bench Brief – dated 2026-06-29PDF
Discharge Order - BlacklinePDF
Letter to Edmonton Commercial CoordinatorPDF
Letter to Service ListPDF
Receiver's First Report to Court
  • Recovery outcome Entries: per estimated; per estimated · Table missing: A copy of the proposed waterfall distribution
  • Secured creditors $9.09M · Note: Senior/primary secured lender; National Bank also obtained various guarantees in connection with the lending arrangements (guarantors not named - personal guarantees). Amount owing stated as of July 31, 2025, plus interest and costs continuing to accrue. Receiver anticipates National Bank will suffer a shortfall on the contemplated sale, leaving no proceeds for subsequent encumbrancers. · Page: 7 · As of: 2025-07-31 · Debtor: One Properties Paramount Limited Partnership by its general partner One Properties Paramount GP Inc. · Creditor: National Bank of Canada (successor in interest to Canadian Western Bank) · Security: First ranking mortgage dated December 7, 2018 over the Paramount Lands, principal amount $9,000,000, registered as Alberta Land Titles instrument 192 004 316; general security agreement dated December 7, 2018 over all present and after-acquired personal property, registered at Alberta PPR November 14, 2018; general assignment of rents and leases dated December 7, 2018 (instrument 192 317); environmental agreement and indemnity dated December 18, 2018
PDF
Sale Approval and Vesting Order - BlacklinePDF
Service List
  • Counsel Miller Thomson LLP
PDF
Receiver's CertificatePDF
Form 87 - Notice and Statement of the ReceiverPDF
ApplicationPDF
Proposed Receivership OrderPDF
Receivership Order
  • Presiding officer Justice J.J. Gill
PDF
Bench Brief
  • Counsel McLennan Ross LLP
PDF
Book of AuthoritiesPDF
Affidavit of Gabriel Lip
  • Secured creditors $9.09M · Note: Loan facility maximum principal amount $9,000,000.00 (Commitment Letter Oct 29, 2018, as amended six times). Interest accruing at 6.35% per annum, $1,572.47/day as at July 31, 2025. Guaranteed by One Properties Ventures Corp. (Limited Liability Guarantee, capped at $4,500,000.00 principal plus interest) and by One Properties Paramount GP Inc. (Full Liability Guarantee, uncapped) - both related-party guarantors of the Borrower's general partner group. · Page: 5 · As of: 2025-07-31 · Debtor: One Properties Paramount Limited Partnership (by its general partner One Properties Paramount GP Inc.) · Creditor: National Bank of Canada (successor by amalgamation to Canadian Western Bank) · Security: Mortgage (instrument no. 192 004 316) over the Lands securing $9,000,000.00 plus interest; General Security Agreement dated December 7, 2018 over all present and after-acquired real and personal property (PPR Registration No. 18111417434); General Assignment of Rents and Leases (Caveat instrument no. 192 004 317); Beneficial Charge Agreement; Demand Notes dated December 17, 2018 and April 31, 2020; Environmental Agreement and Indemnity dated December 7, 2018
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “One Properties Paramount Limited Partnership” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/one-properties-paramount-limited-partnership

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Sources last checked · summary updated 7 August 2026 · Report a correction · Printed from proceedings.ca/case/one-properties-paramount-limited-partnership

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.