Station Point Developments Ltd.
Follow- Proceeding
- Receivership (court-appointed)s. 13(2) of the Judicature Act, RSA 2000 c. J-2 and s. 243 of the Bankruptcy and Insolvency Act, RSC 1985 c B-3
- File
- 1903-08169
Station Point Developments Ltd. has been under court-appointed receivership in Alberta since June 18, 2019, when KSV Kofman Inc. was appointed trustee and receiver and manager on the application of KingSett Mortgage Corporation, its construction lender. The order was made by the Court of King's Bench of Alberta under s. 13(2) of the Judicature Act and s. 243 of the Bankruptcy and Insolvency Act, in court file 1903-08169. At commencement, KingSett was owed approximately $12.1 million under a construction loan facility with a maximum amount of $17 million, secured by mortgage on the Real Property and guaranteed by principal Beniamino Raimondi, BCM Developments Ltd. and Fortis LGS Structures Inc. The City of Edmonton held a vendor-take-back mortgage with roughly $2.4 million owing and HMT Holding Ltd. a mortgage of about $1.2 million. Nine builders' liens totalling $3,112,877 were registered against title, the largest being Fortis L.G.S. Structures Inc.'s $2,672,255 lien. The receivership remains active.
18 earlier updates, back to 18 June 2019 — subscribers.
Debtor
Station Point Developments Ltd.
Receiver
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dunlop | Court of King's Bench of Alberta | 1 order, Jun 2022 | 44 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorStation Point Developments Ltd. | Ogilvie LLP | 27 Sep 2019 | Order · 27 Sep 2019 |
| CreditorFOliis LGS Structures Inc | Ogilvie LLP | 27 Sep 2019 | Order · 27 Sep 2019 |
| CreditorFortis LGS Structures Inc | Field Law | 27 Sep 2019 | Order · 27 Sep 2019 |
| CreditorKSV Restructuring Inc | Bennett Jones LLP | 14 Dec 2021 | Factum · 14 Dec 2021 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | KingSett Mortgage Corporation · in 28 casesas of commencement of these proceedings — Mortgage registered on title to the Real Property; construction loan facility, maximum amount $17 million — Guaranteed by Beniamino Raimondi (principal of the Company), BCM Developments Ltd. and Fortis LGS Structures Inc.; approximate amount per land title search — debtor: Station Point Developments Ltd. | $12.1M | First Report of the Trustee and Receiver and Manager dated September 11, 2019 |
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.
Sale approved — The Transaction is hereby approvedApproval and Vesting Order dated December 14, 2021 · 14 Dec 2021
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Arris Homes Ltd.assets described in the Sale Agreement (the "Purchased Assets") · real property · nominee/assignee: its nominee · agreement 24 Sep 2021 | Subscribers | Approved14 Dec 2021 | Approval and Vesting Order dated December 14,… |
KingSett: shortfall.Fourth Report of the Trustee and Receiver and Manager · 6 Dec 2021
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | KingSett | — | shortfallconditional | per the receiver | Fourth Report of the Trustee and Receiver and Manager · 6 Dec 2021 |
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.
Cumulative receipts
$2.97M
As at 19 Jun 2020Second Report of the Trustee and Receiver and Manager dated June 19, 2020
| Date | Document | File |
|---|---|---|
Court Order dated June 1, 2022
| PDF · Subscribers | |
| Affidavit of Shelly Bilinsky sworn May 9, 2022 | PDF · Subscribers | |
| Application Record dated May 9, 2022 | PDF · Subscribers | |
| Application Record re Motion returnable December 14, 2021 | PDF · Subscribers | |
Approval and Vesting Order dated December 14, 2021
| PDF · Subscribers | |
| Book of Authorities of the Receiver re Motion returnable December 14, 2021 | PDF · Subscribers | |
Brief of Law and Argument of the Receiver re Motion returnable December 14, 2021
| PDF · Subscribers | |
Court Restricting Access dated December 14, 2021
| PDF · Subscribers | |
Fourth Report of the Trustee and Receiver and Manager dated December 6, 2021
| PDF · Subscribers | |
| Motion Record returnable February 4, 2021 | PDF · Subscribers | |
Third Report of the Trustee and Receiver and Manager dated January 25, 2021
| PDF · Subscribers | |
Court Order dated June 26, 2020
| PDF · Subscribers | |
| Application Record dated June 19, 2020 | PDF · Subscribers | |
Second Report of the Trustee and Receiver and Manager dated June 19, 2020
| PDF · Subscribers | |
Court Order dated September 27, 2019
| PDF · Subscribers | |
Motion Record returnable September 19, 2019
| PDF · Subscribers | |
First Report of the Trustee and Receiver and Manager dated September 11, 2019
| PDF · Subscribers | |
Receivership Order dated June 18, 2019
| PDF · Subscribers | |
Application Record dated June 16, 2019
| PDF · Subscribers | |
| Consent to Act as Receiver dated June 14, 2019 | PDF · Subscribers | |
| Affidavit of Daniel Pollack sworn June 10, 2019 | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Station Point Developments Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/station-point-developments-ltd