Terra Nova Construction Ltd.

Terra Nova Construction Ltd. is in a court-appointed receivership arising from an application filed May 10, 2019, by Royal Bank of Canada under section 243 of the Bankruptcy and Insolvency Act and section 13(2) of the Judicature Act, in the Court of Queen's Bench of Alberta. Grant Thornton Limited was appointed receiver and manager. As of the date of receivership, May 17, 2019, Royal Bank of Canada, described as the primary secured creditor, was owed approximately $5,472,982, plus interest. The receiver reported it had not been given access to the company's books, records or asset locations, leaving asset values and other creditors unconfirmed. Terra Nova Construction Ltd. was later placed into bankruptcy on October 30, 2019, at 15:57, with Grant Thornton Limited acting as trustee.