PrimeCARE Health Clinics

PrimeCARE Health Clinics remains in court-appointed receivership under BIA s. 243 and provincial Judicature Act authority, in proceedings commenced 14 January 2020 in the Court of Queen's Bench of Alberta under file number 2001-00607. A Consent Order issued 21 January 2020 fixed Royal Bank of Canada's claim against O.A. Adekeye Professional Corporation at $149,887.45 for unrepaid credit agreement advances, secured by a general security agreement over all present and after-acquired property and confirmed as a first charge by a security opinion dated 5 October 2020. The Canada Revenue Agency has asserted $19,871.09 in unpaid source deductions as of 30 January 2020; the Receiver has requested a proof of claim and is holding the funds back pending determination of priority over RBC's security against litigation settlement proceeds. Against 1787590 Alberta Ltd., ATB Financial holds a first mortgage over Condo Unit 202 and a first charge of approximately $236,476 against the Duplex at 8038 91 ST, Grande Prairie, with 2082137 Alberta Ltd. holding subordinate second and third mortgages of approximately $155,704. ATB supports the sale of Unit 202, and 2082137 Alberta Ltd., a related party, is acquiring the Duplex by credit bid.