Ventures North Financial Group Limited Partnership

Ventures North Financial Group Limited Partnership has been in court-appointed receivership since November 2, 2023, brought under s. 243 of the BIA and provincial Judicature Act authority in the Court of King's Bench of Alberta, file no. 2303 04003. The proceeding remains active, and an order was made in it on June 19, 2024. Prairie Centre Credit Union, Servus Credit Union and Cornerstone Credit Union Financial Group Limited are identified as primary economic stakeholders and secured lenders of the partnership, with no amounts stated. Cornerstone is presently understood to be the first ranking secured creditor with respect to 23 Appleton, and distribution to it is subject to confirming the validity and enforceability of its security. Fredrick North, an applicant and related party, holds security for professional fees and is also the largest unsecured creditor, at approximately 90% of estimated unsecured liabilities.