Pheasantback Golf & Country Club Ltd. and Rise Resources Corp.
Follow- Proceeding
- Receivership (court-appointed)Subsection 245(1) and 246(1) of the Bankruptcy and Insolvency Act
- File
- 1203 12953
Pheasantback Golf & Country Club Ltd. and Rise Resources Corp. have been under court-appointed receivership in Alberta since September 12, 2012, when MNP Ltd. was appointed receiver on the application of Royal Bank of Canada under section 243 of the Bankruptcy and Insolvency Act, section 13(2) of the Judicature Act and section 65(7) of the Personal Property Security Act, court file 1203 12953. RBC holds a first secured interest in the golf course assets by agreement with Canadian Western Bank, which ranks first on the assets outside the receivership, and is owed $1,462,216.58 exclusive of accrued interest and costs. Other secured claims include the County of Stettler for $24,231.25 in municipal taxes and CRA for approximately $17,000, with Golf Lease Inc. and Kubota Canada Ltd. also asserting security. Golf course assets were valued at $2,028,988 as at December 31, 2011, on an approximate basis. The receivership remains active.
Court appointed MNP Ltd. receiver over the golf course assets on RBC's application, opening the receivership under the BIA, Judicature Act and PPSA.
Source: Appointing Order
Interim order granted, marking commencement of the receivership over Pheasantback Golf & Country Club Ltd. and Rise Resources Corp. under court file 1203 12953.
Source: Appointing Order
Debtor
Pheasantback Golf & Country Club Ltd. and Rise Resources Corp.
Receiver
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency ("CRA") · in 926 casesas of September 12, 2012 — Secured interest in property described — Approximation provided by directors of the Company; deemed trust class — debtor: Pheasantback Golf & Country Club Ltd. / Rise Resources Corp. | $17K | Notice and Statement of Receiver |
| 4 | Secured | Royal Bank of Canada · in 556 casesas of September 12, 2012 — First secured interest in the golf course assets (per agreement with CWB) — Dollar value does not include accrued interest and costs — debtor: Pheasantback Golf & Country Club Ltd. / Rise Resources Corp. | $1.46M | Notice and Statement of Receiver |
| 4 | Secured | County of Stettler · in 2 casesas of September 12, 2012 — Secured interest in property described — Municipal taxes — debtor: Pheasantback Golf & Country Club Ltd. / Rise Resources Corp. | $24.2K | Notice and Statement of Receiver |
| 4 | Secured | Kubota Canada Ltd. · in 16 casesas of September 12, 2012 — Secured interest in property described — Amount unknown as stated — debtor: Pheasantback Golf & Country Club Ltd. / Rise Resources Corp. | — | Notice and Statement of Receiver |
| 4 | Secured | Golf Lease Inc. · in 2 casesas of September 12, 2012 — Secured interest in property described — Amount unknown as stated — debtor: Pheasantback Golf & Country Club Ltd. / Rise Resources Corp. | — | Notice and Statement of Receiver |
| 4 | Secured | Canadian Western Bank ("CWB") · in 80 casesas of September 12, 2012 — First secured interest in the Company's other assets not included in the receivership proceedings (per agreement with RBC) — Amount unknown as stated — debtor: Pheasantback Golf & Country Club Ltd. / Rise Resources Corp. | — | Notice and Statement of Receiver |
| 8 | Unsecured | Pratts Food Service Albertadebtor: Pheasantback Golf & Country Club Ltd. | $2.56K | Notice and Statement of Receiver |
| 8 | Unsecured | Jamie DevnichIndividual creditor named — debtor: Pheasantback Golf & Country Club Ltd. | $1.69K | Notice and Statement of Receiver |
| 8 | Unsecured | AltaGas Utilitiesdebtor: Pheasantback Golf & Country Club Ltd. | $333 | Notice and Statement of Receiver |
| 8 | Unsecured | Wet Water Industriesdebtor: Pheasantback Golf & Country Club Ltd. | $105 | Notice and Statement of Receiver |
| 8 | Unsecured | Alberta Energy · in 5 casesdebtor: Pheasantback Golf & Country Club Ltd. | $1 | Notice and Statement of Receiver |
| 8 | Unsecured | Telus · in 115 casesdebtor: Pheasantback Golf & Country Club Ltd. | $1 | Notice and Statement of Receiver |
| 8 | Unsecured | Telus Mobility · in 67 casesdebtor: Pheasantback Golf & Country Club Ltd. | $1 | Notice and Statement of Receiver |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
As at 31 Dec 2011 · per Values as stated in the Company's 2011 accountant prepared financial statements; described as an approximation · Pheasantback Golf & Country Club Ltd. and Rise Resources Corp. (golf course assets only, receivership scope) — Asset total is land & building, equipment, and inventory as per 2011 accountant-prepared financials, labelled 'Total (approximation)'; total secured liabilities also unknown/approximate per receiver
| Date | Document | File |
|---|---|---|
Notice and Statement of Receiver
| ||
Appointing Order
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Pheasantback Golf & Country Club Ltd. and Rise Resources Corp.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/pheasantback-golf