Standard West Steel Ltd.

Standard West Steel Ltd. made an assignment in bankruptcy in Alberta on February 10, 2023 under section 49 of the Bankruptcy and Insolvency Act, with Grant Thornton Limited as trustee under court file 24-2910544. The sworn Statement of Affairs at February 6, 2023 shows assets of $6,453,947 consisting entirely of accounts receivable the trustee treats as doubtful, much of it estimated as at February 21, 2022. Servus Credit Union Ltd., secured by a general security agreement over all assets, submitted an adjusted net secured claim of $299,201 on February 14, 2023 after pre-bankruptcy seizure and sale of assets and collection of receivables. Liberty Mutual Insurance Company claims $1,000,000 under a material and labour bond on the Red Deer Justice Centre project, and the Canada Revenue Agency asserts a $546,338 payroll deemed trust. Approximately 92 unsecured creditors are owed approximately $2,231,599. The estate remains active.