One Properties Paramount Limited Partnership
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
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.
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.
Debtor
One Properties Paramount Limited Partnership
Applicant
National Bank of Canada
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Marion | Court of King's Bench of Alberta | 3 orders, Jul 2026 | 28 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Miller Thomson LLP | 29 Jun 2026 | Service list · 29 Jun 2026 |
| ApplicantNational Bank of Canada | McLennan Ross LLP · Swainson Miki Peskett LLP | 11 Sep 2025 | Service list · 29 Jun 2026 |
| DebtorOne Properties Paramount Limited Partnership | DLA Piper (Canada) LLP | 29 Jun 2026 | Service list · 29 Jun 2026 |
| CreditorATB Financial and Servus Credit Union Ltd. Caveat Registration No. 252 115 747 | Norton Rose Fulbright Canada LLP | 29 Jun 2026 | Service list · 29 Jun 2026 |
| CreditorLuxor Lands Ltd. and Mesa West Capital Corp. Caveat Registration Nos. 192 004 319 and 192 004 320 | Bryan & Company LLP | 29 Jun 2026 | Service list · 29 Jun 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | National Bank of Canada (successor in interest to Canadian Western Bank) · in 101 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 | $9.09M | Receiver's First Report to Court |
| Secured | |||
| Secured | |||
| Secured | |||
| Secured |
4 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
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.
Secured creditors: no distribution. National Bank of Canada short.Application – dated 2026-06-29 · 29 Jun 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | other creditors (secured or unsecured) ranking behind National Bank | — | no distribution | per the receiver | Application – dated 2026-06-29 · 29 Jun 2026 |
| Secured | National Bank of Canada | — | shortfall | per the receiver | Application – 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.
7 engagements · 2 firms — latest: MNP Ltd., 22 Sep 2025 – 31 May 2026, soughtAffidavit of Kristin Gray · 29 Jun 2026
| Firm | Period | Hours | Fees | Rates | Source | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MNP Ltd.Receiverperiod 5 of 5 | 22 Sep 2025 – 31 May 2026Sought | — | not stated | Affidavit of Kristin Gray · 29 Jun 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MNP Ltd.Receiverperiod 5 of 5 | 1 May – 31 May 2026 | 4 people | Affidavit of Kristin Gray · 29 Jun 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4 people — MNP Ltd., 1 May – 31 May 2026 · 12 blurred figures
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MNP Ltd.Receiverperiod 3 of 5 | 1 Mar – 31 Mar 2026 | 7 people | Affidavit of Kristin Gray · 29 Jun 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7 people — MNP Ltd., 1 Mar – 31 Mar 2026 · 21 blurred figures
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MNP Ltd.Receiverperiod 2 of 5 | 1 Jan – 31 Jan 2026 | 5 people | Affidavit of Kristin Gray · 29 Jun 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5 people — MNP Ltd., 1 Jan – 31 Jan 2026 · 15 blurred figures
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MNP Ltd.Receiverperiod 1 of 5 | 22 Sep – 31 Dec 2025 | 10 people | Affidavit of Kristin Gray · 29 Jun 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 people — MNP Ltd., 22 Sep – 31 Dec 2025 · 30 blurred figures
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Miller Thomson LLPCounsel to the receiverperiod 2 of 2 | 8 Aug 2025 – 31 Mar 2026 | — | not stated | Affidavit of Kristin Gray · 29 Jun 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Miller Thomson LLPCounsel to the receiverperiod 1 of 2 | — | — | not stated | Affidavit of Kristin Gray · 29 Jun 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
93 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Distribution, Activity Approval, Fee Approval and Discharge Order
| PDF · Subscribers | |
Sale Approval and Vesting Order
| PDF · Subscribers | |
Sealing Order
| PDF · Subscribers | |
Affidavit of Kristin Gray
| PDF · Subscribers | |
Application – dated 2026-06-29
| PDF · Subscribers | |
| Bench Brief – dated 2026-06-29 | PDF · Subscribers | |
| Discharge Order - Blackline | PDF · Subscribers | |
| Letter to Edmonton Commercial Coordinator | PDF · Subscribers | |
| Letter to Service List | PDF · Subscribers | |
Receiver's First Report to Court
| PDF · Subscribers | |
| Sale Approval and Vesting Order - Blackline | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Receiver's Certificate | PDF · Subscribers | |
| Form 87 - Notice and Statement of the Receiver | PDF · Subscribers | |
Application
| PDF · Subscribers | |
| Proposed Receivership Order | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Bench Brief
| PDF · Subscribers | |
| Book of Authorities | PDF · Subscribers | |
Affidavit of Gabriel Lip
| 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., “One Properties Paramount Limited Partnership” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/one-properties-paramount-limited-partnership