Pictou Lodge Resort (4374339 Canada Inc.)

Pictou Lodge Resort, operated by 4374339 Canada Inc., has been under court-appointed receivership in the Supreme Court of Nova Scotia since 27 January 2013, when Grant Thornton Limited was appointed receiver and manager on the application of Royal Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and Civil Procedure Rule 73. The proceeding carries court file no. 412415. As at 8 February 2013, the receiver reported estimated book value assets of $7,580,943 at the entity level, prepared without audit from the company's files. RBC Royal Bank, which holds the security under which the receiver was appointed, was owed $4,300,000; the Nova Scotia Department of Economic & Rural Development was listed at $450,000, and Grupo Pan America Ltd. at an unknown amount. The largest unsecured claim listed is $416,195 owed to the Atlantic Canada Opportunities Agency.