St. Albert Limited Partnership by and through its general partner St. Albert Real Estate Syndicate GP Ltd.

St. Albert Limited Partnership, by and through its general partner St. Albert Real Estate Syndicate GP Ltd., is in a court-appointed receivership in the Court of King's Bench of Alberta, with BDO Canada Ltd. as receiver and manager. The application was brought by ATB Financial 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. ATB claimed $7,737,946.67 as of March 11, 2024 under a commitment letter dated April 9, 2020, plus accruing interest and legal costs, secured by general security agreements from the borrower and the general partner dated April 20, 2020, a $9,000,000 collateral mortgage, an assignment of leases and rents, an unlimited corporate guarantee from St. Albert GP and a personal guarantee from John Torode capped at $2,250,000, registered at the Alberta Personal Property Registry and Land Titles Office. The receivership remains active.