Penhold Crossing Plaza Ltd

Penhold Crossing Plaza Ltd. remains in a court-appointed receivership under s. 243 of the BIA and provincial Judicature Act authority, with Ernst & Young Inc. acting as Receiver of the company and 1963843 Alberta Ltd. ATB Financial is the primary secured lender to the debtors, holding a first charge security interest over the Penhold Crossing property confirmed by Alberta Personal Property Registry and Land Titles Office searches and supported by a security opinion confirming valid and enforceable security; $2,199,374 was owing as at February 23, 2022, before accrued interest and fees. Receiver's certificate borrowings of $325,000 by 1963843 Alberta Ltd., secured by the Receiver's Borrowings Charge, were fully utilized to fund operating losses at the gas station. A purchase price allocation analysis estimated fees and costs secured by the Administrative Charge at $181,500 for the Receiver and $32,000 for its counsel, Dentons Canada LLP, as at April 20, 2022.