Proceedings.

Safeguard Real Estate Investment Fund IV Limited Partnership and CEP LP Investment Corp.

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Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Court
Court of King's Bench of Alberta
File
1801-06804
Filings held32
Last activity2 Mar 2026
On the record2,117 days
Secured debt$15.5M
OverviewSummary updated

Safeguard Real Estate Investment Fund IV Limited Partnership and CEP LP Investment Corp. are the subject of a court-appointed receivership in the Court of King's Bench of Alberta, commenced 4 December 2020 under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, in court file 1801-06804. A court officer report was filed on the commencement date. The proceeding remains active. No further steps have been recorded on this file, and no stage beyond commencement has been reported.

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Case updates32 dated entries
Parties

Debtor

Safeguard Real Estate Investment Fund IV Limited Partnership and CEP LP Investment Corp.

Receiver

BDO

Capital structureAs asserted in the filings
stated amounts, drawn to scale
Priority classCreditorAmountSource
SecuredConnect First Credit Union Ltd. (successor to First Calgary Financial Credit Union Limited) · in 8 casesFirst Mortgage (registration 131 096 960, original principal $19,200,000) over Condominium Plan 0811241 Units 1-31, 43, 60, 73, 92-100, 103, 105, 107, 111-128; Assignment of Rents and Leases (registration 131 096 961); General Security Agreements against CEP and Safeguard (PPR registrations 13042505809, 13042506279); Guarantee and Postponement of Claim by CEP up to $19,200,000 — Loan matured April 30, 2018 and was not renewed; per diem interest thereafter $1,442.63; an earlier balance of $16,643,409.29 was stated as owing as at October 12, 2018 (Consent Redemption Order - Listing). — debtor: S · as of 11 Nov 2020$15.5MAffidavit of Olakunle Popoola, sworn November 13, 2020
SecuredCity of Calgary · in 10 casesStatutory real property tax arrears/lien against the mortgaged Units — Defendants had not remitted property tax payments for three years; total matches roll-by-roll breakdown in Exhibit "V". — debtor: Safeguard Real Estate Investment Fund IV Limited Partnership and CEP LP Investment Corp. · as of 13 Nov 2020$1.28MAffidavit of Olakunle Popoola, sworn November 13, 2020
SecuredCondominium Corporation of Condominium Plan 0811241 (unpaid condominium fees)Condominium fee arrears constituting a charge/lien against the mortgaged Units under the Condominium Property Act (Alberta) — debtor: Safeguard Real Estate Investment Fund IV Limited Partnership and CEP LP Investment Corp. · as of 23 Jul 2020$274KAffidavit of Olakunle Popoola, sworn November 13, 2020

This 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.

RecoveriesAs stated in the filings

Servus Credit Union Ltd.: a distribution.EstimatedFifth Report of the Receiver, February 23, 2026 · 23 Feb 2026

ClassCreditorClaimsRecoveryBasisSource
SecuredServus Credit Union Ltd.—a distributionEstimatedper the receiverFifth Report of the Receiver, February 23, 2026 · 23 Feb 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.

Documents
32 filings
DateDocumentFile
Order (Approval of Receiver's Activities and Fees, Distribution and Discharge), March 2, 2026PDF
Order (Sale Approval and Vesting - Second Tailwind), March 2, 2026PDF
Order (Sale Approval and Vesting - Tailwind), March 2, 2026PDF
Sealing Order (Confidential Supplement to the Fifth Report), March 2, 2026
  • Presiding officer Justice M.H. Bourque
PDF
Application re: Sale Approval , Approval of Activities and Sealing Order, February 23, 2026PDF
Fifth Report of the Receiver, February 23, 2026
  • Recovery outcome Entries: per estimated · Stated on: 2026-02-23 · Table missing: The Receiver has appended to the Confidential Supplement to the Fifth Report a forecast statement of receipts of disbursements reflecting the forecast proceeds from the Tailwind APA and Tailwind 2 nd APA (on the respectful assumption the Court grants such requested relief), together with payment of forecast operational costs and the Professional Fees Holdback arriving at the residual proceeds of the receivership estate (the ' Distributable Proceeds ').
PDF
Order (Approval of Receiver's Activities and Fees), December 12, 2024
  • Presiding officer Justice G.A. Campbell
PDF
Order (Sale Approval and Vesting - SO), December 12, 2024PDF
Order (Sale Approval and Vesting - TDT), December 12, 2024PDF
Order (Sale Approval and Vesting- CAKO), December 12, 2024PDF
Sealing Order (Confidential Supplement to the Fourth Report), December 12, 2024
  • Presiding officer Justice G.A. Campbell
PDF
Application (re Approval of Sales, Approval of Activities, Sealing Order), December 10, 2024
  • Presiding officer Justice G.A. Campbell
PDF
Supplement to the Fourth Report of Receiver, December 10, 2024PDF
Fourth Report of the Receiver, December 3, 2024
  • Commencement date 4 December 2020
  • Court COURT OF KING'S BENCH OF ALBERTA
  • Court file no 1801-06804
PDF
Amending Order (Approval and Vesting Order), October 27, 2022
  • Presiding officer Justice E.J. Sidnell
PDF
Order (Sale Approval and Vesting), April 7, 2022PDF
Application re: Sale Approval, Receiver Activities and Sealing, March 25, 2022PDF
Third Report of the Receiver, March 25, 2022PDF
Application re: Sale Approval and Vesting Order, January 20, 2022
  • Presiding officer Justice K.M. Horner
PDF
Order (Sale Approval and Vesting Amended), January 20, 2022
  • Presiding officer Justice K.M. Horner
PDF
Sealing Order (Confidential Supplement to Second Report), January 20, 2022
  • Presiding officer Justice K.M. Horner
PDF
Second Report of the Receiver, January 10, 2022PDF
Order (Sales process, receivers borrowings, etc.), June 22, 2021PDF
Sealing Order (Confidential Supplement to the First Report), June 22, 2021
  • Presiding officer Justice G.S. Dunlop
PDF
Amendment to Property, Receiver Borrowings, Sales Process, June 21, 2021PDF
Application materials (Sales process, receiver’s borrowings, etc.)PDF
First Report of the Receiver, June 14, 2021
  • Secured creditors $370K · Note: Initial Affidavit stated $274,069 outstanding as of July 23, 2020 (prose/earlier figure); updated to approximately $369,847 as of the date of this report (June 14, 2021) after accounting for further accrued monthly fees of ~$45,678 less payments of ~$41,257. · Page: 8 · As of: 2021-06-14 · Debtor: Safeguard Real Estate Investment Fund IV Limited Partnership / CEP LP Investment Corp. · Creditor: Condominium Corporation Plan No. 0811241 · Security: Condominium corporation lien/claim for unpaid common expense (condo) contributions; Receiver understands this represents a priority amount ranking ahead of CFCU
PDF
Receivership Order, December 4, 2020
  • Presiding officer Justice B. Romaine
PDF
Affidavit of Ryan Murphy, sworn November 27, 2020PDF
Affidavit of Steven Patrick Butt, sworn November 26, 2020PDF
Application materials (Appointment of a Receiver)PDF
Affidavit of Olakunle Popoola, sworn November 13, 2020
  • Secured creditors $15.5M · Note: Loan matured April 30, 2018 and was not renewed; per diem interest thereafter $1,442.63; an earlier balance of $16,643,409.29 was stated as owing as at October 12, 2018 (Consent Redemption Order - Listing). · Page: 6 · As of: 2020-11-11 · Debtor: Safeguard Real Estate Investment Fund IV Limited Partnership (borrower) and CEP LP Investment Corp. (registered owner/mortgagor and guarantor) · Creditor: Connect First Credit Union Ltd. (successor to First Calgary Financial Credit Union Limited) · Security: First Mortgage (registration 131 096 960, original principal $19,200,000) over Condominium Plan 0811241 Units 1-31, 43, 60, 73, 92-100, 103, 105, 107, 111-128; Assignment of Rents and Leases (registration 131 096 961); General Security Agreements against CEP and Safeguard (PPR registrations 13042505809, 13042506279); Guarantee and Postponement of Claim by CEP up to $19,200,000
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Safeguard Real Estate Investment Fund IV Limited Partnership and CEP LP Investment Corp.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/safeguard-real-estate-investment-fund-iv-limited-partnership-and-cep-lp-investme

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Sources last checked · summary updated 9 August 2026 · Report a correction · Printed from proceedings.ca/case/safeguard-real-estate-investment-fund-iv-limited-partnership-and-cep-lp-investme

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.