Westmount Group of Companies
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act
- File
- 2301-04941
- Industry
- Real estate · Rental & income property
Westmount Group of Companies is the subject of bankruptcy proceedings under the Bankruptcy and Insolvency Act before the Court of King's Bench of Alberta in Bankruptcy and Insolvency, under court file number 2301-04941. The proceedings commenced on June 17, 2026, the same day the Court pronounced an interim order. The matter remains active, and the record to date consists of that single order.
The court granted an approval and vesting order for the sale to Papelen Consumer Products Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser. Sealed: Confidential Supplement to the Third Report containing unredacted Sale Agreement.
Source: Sale Approval and Vesting Order - 2218923 Alberta Ltd.
Interim order pronounced by the Court of King's Bench of Alberta in Bankruptcy and Insolvency on June 17, 2026, commencing the proceedings under file 2301-04941.
Source: Order For Activity and Fee Approval, Approval of Distribution and Discharge - 2218923 Alberta Ltd.
The officer filed report no. Supplemental Report to the Third Report of the Receiver.
Source: Supplemental Report to the Third Report of the Court-Appointed Receiver of 2218923 Alberta Ltd.
The court granted an approval and vesting order for the sale to Harmani Calgary Inc.
Source: Order - Approving Sale and Vesting Title - Harmani Calgary Inc.
The court granted an approval and vesting order for the sale to Mainstreet Equity Corp. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Closing Certificate.
Source: Order - Approving Sale and Vesting Title - Mainstreet Equity Corp.
The officer filed report no. Third Report. The receivership concerns three residential properties (18 units, fully tenanted at receivership) and certain serial-number equipment. The Receiver ran a marketing and sale process and recommends court approval of two condition-free asset purchase agreements, with Mainstreet Equity Corp. and Harmani Calgary Inc. The Debtor has not complied with the Compliance Order on equipment delivery, security deposits, and books and records.
Source: Third Report of the Receiver - Westmount Projects Inc.
The court approved a sale and investment solicitation process. A bid deadline of 2023-09-11.
Source: Order - Calgary Property
Supplement to the Second Report of the Receiver - 1975847 Alberta Ltd. — Court officer report
Supplement to the Second Report of the Receiver - 2218923 Alberta Ltd. — Court officer report
Supplement to the Second Report of the Receiver - Westmount Projects Inc. — Court officer report
Written Submissions of Deloitte Restructuring Inc. - returnable August 4, 2023 — Response / objection pleading
Application (re Sales Process) - returnable July 21, 2023 — Application / notice of application
Notice and Statement of the Receiver - Westmount Projects Inc. — Notice of receiver (s. 245 / Form 87)
The court appointed Deloitte Restructuring Inc. as Receiver, on the application of Bank of Montreal. Court file 2301-04941.
Guide
Power of sale vs foreclosure vs receivership in Canada
When a Canadian borrower stops paying a mortgage, the lender can sell the property itself, ask a court to foreclose, or have a receiver take control. How the routes differ by province, what each means for owners and tenants, and how long a receivership takes, drawn from the court record.
Debtor
Westmount Group of Companies
Receiver
Deloitte
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Lema | Court of King's Bench of Alberta | 4 orders, Nov 2023 – Apr 2024 | 19 cases on record |
| Justice Yamauchi | Court of King's Bench of Alberta | 4 orders, Aug 2023 | 37 cases on record |
| Justice Armstrong | Court of King's Bench of Alberta | 3 orders, Jun 2026 | 30 cases on record |
| Justice Lema | Court of King's Bench of Alberta | 2 orders, May 2023 | 46 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDeloitte | Dentons Canada LLP | 10 May 2023 | Service list · 10 May 2023 |
| CreditorBank of Montreal | MLT Aikins LLP | 10 May 2023 | Service list · 10 May 2023 |
| CreditorGordan D | Gordan D. Anderson Wolff Leia | 10 May 2023 | Service list · 10 May 2023 |
| CreditorGordon D. Anderson and Anderson & Associates Financial Corp | Dentons Canada LLP | 17 Jul 2023 | Order · 17 Jul 2023 |
| CreditorQuadrum Mortgage Corp | WBA Law LLP | 10 May 2023 | Service list · 10 May 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Bank of Montreal (BMO) · in 297 casesas of Date of Receivership (May 15, 2023) — Security over all present and after-acquired personal property of 197; registered security against the 197 Property (1496 Brier Park, Medicine Hat) — Described as 'approximately $7.1 million'; primary secured lender of 197 — debtor: 1975847 Alberta Ltd. | $7.1M | First Report of the Receiver - 1975847 Alberta Ltd. |
| 4 | Secured | |||
| 8 | Unsecured |
2 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans5 transactions · 2 approved · 2 proposed · 1 not completed — The 197 Property has been marketed for approximately three years without a viable offer. The Receiver seeks approval of an online auction sale process run by LFC, with any winning bid subject to further Court approval.Third Report of the Receiver - 1975847 Alberta Ltd. · 2 Nov 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Harmani Calgary Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 6 Nov 2023 | Subscribers | Approved22 Nov 2023 | Order - Approving Sale and Vesting Title -… |
| Mainstreet Equity Corp.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 13 Nov 2023 | Sealed | Approved22 Nov 2023 | Order - Approving Sale and Vesting Title -… |
| 2785373 Alberta Inc.all of the Vendor's right, title and interest in and to the Purchased Assets · asset sale · nominee/assignee: Papelen Consumer Products Inc. · agreement 6 Feb 2026 | not stated | Proposed | Supplemental Report to the Third Report of the… |
| Papelen Consumer Products Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · asset sale · agreement 6 Feb 2026 | Subscribers | Not completeddate not stated | Fourth Report of the Receiver - 2218923 Alberta… |
| Revived transaction under the Revival and Amending Agreement; the report states 278 (the numbered company) is now the sole purchaser after Papelen reassigned its rights, but the full corporate name is not given.all right, title and interest in and to the 221 Property · asset sale | Subscribers | Proposedoutside 30 Nov 2023 | Fourth Report of the Receiver - 2218923 Alberta… |
Unsecured creditors: no distribution. BMO a distribution · Horizon short.EstimatedFourth Report of the Receiver - 2218923 Alberta Ltd. · 2 Nov 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | BMO | — | Estimatedper the receiver | Fourth and Final Report of the Receiver - Westmount Projects Inc. · 15 Apr 2024 | |
| Secured | Horizon | — | short by | Estimatedper the receiver | Fourth and Final Report of the Receiver - Westmount Projects Inc. · 15 Apr 2024 |
| Unsecured | subordinate creditors | — | no distribution | Estimatedper the receiver | Fourth Report of the Receiver - 2218923 Alberta Ltd. · 2 Nov 2026 |
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.
2 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans2 engagements · 2 firms — latest: Deloitte Restructuring Inc., 15 May 2023 – 12 Apr 2024, in feesFourth and Final Report of the Receiver - Westmount Projects Inc. · 15 Apr 2024
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Deloitte Restructuring Inc.Receiver | 15 May 2023 – 12 Apr 2024 | — | not stated | Fourth and Final Report of the Receiver - Westmount Projects Inc. · 15 Apr 2024 | |
| Dentons Canada LLPCounsel to the receiver | from 25 Jun 2023Sought | — | not stated | Fourth and Final Report of the Receiver - Westmount Projects Inc. · 15 Apr 2024 |
2 blurred figures above
What each firm billed — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansAs at ·
Cumulative receipts
$341K
As at 28 Oct 2026Fourth Report of the Receiver - 2218923 Alberta Ltd.
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
| A pplication - returnable November 13, 2026 | PDF · Subscribers | |
| Application - returnable November 13, 2026 | PDF · Subscribers | |
Fourth Report of the Receiver - 2218923 Alberta Ltd.
| PDF · Subscribers | |
Third Report of the Receiver - 1975847 Alberta Ltd.
| PDF · Subscribers | |
Order For Activity and Fee Approval, Approval of Distribution and Discharge - 2218923 Alberta Ltd.
| PDF · Subscribers | |
Sale Approval and Vesting Order - 2218923 Alberta Ltd.
| PDF · Subscribers | |
Sealing Order - Confidential Supplement to the Third Report of the Court-Appointed Receiver of 2218923 Alberta Ltd.
| PDF · Subscribers | |
Supplemental Report to the Third Report of the Court-Appointed Receiver of 2218923 Alberta Ltd.
| PDF · Subscribers | |
| Service Letter to Service List | PDF · Subscribers | |
| Receiver's Completion Certificate - Westmount Projects Inc. | PDF · Subscribers | |
| Application - returnable April 23, 2024 | PDF · Subscribers | |
Order- For Activity and Fee Approval, Approval of Distribution and Discharge
| PDF · Subscribers | |
Fourth and Final Report of the Receiver - Westmount Projects Inc.
| PDF · Subscribers | |
Trustee's Preliminary Report
| PDF · Subscribers | |
| Application - returnable November 22, 2023 | PDF · Subscribers | |
Order - Approving Sale and Vesting Title - Harmani Calgary Inc.
| PDF · Subscribers | |
Order - Approving Sale and Vesting Title - Mainstreet Equity Corp.
| PDF · Subscribers | |
Restricted Access Order - Confidential Supplement to Third Report of Receiver Regarding Westmount Projects Inc.
| PDF · Subscribers | |
Third Report of the Receiver - Westmount Projects Inc.
| PDF · Subscribers | |
Notice of Bankruptcy and First Meeting of Creditors
| PDF · Subscribers | |
| Certificate of Appointment | PDF · Subscribers | |
Reasons for Decision of the Honourable Justice Colin C.J. Feasby
| PDF · Subscribers | |
Order - Anderson Applications
| PDF · Subscribers | |
Order - 2218923 Alberta Ltd. and 1975847 Alberta Ltd. - Approval and Restricted Court Access
| PDF · Subscribers | |
Order - Calgary Property
| PDF · Subscribers | |
Order - Medicine Hat Property
| PDF · Subscribers | |
Order - Westmount Projects Inc. - Approval and Restricted Court Access
| PDF · Subscribers | |
Supplement to the Second Report of the Receiver - 1975847 Alberta Ltd.
| PDF · Subscribers | |
Supplement to the Second Report of the Receiver - 2218923 Alberta Ltd.
| PDF · Subscribers | |
Supplement to the Second Report of the Receiver - Westmount Projects Inc.
| PDF · Subscribers | |
| Written Submissions of Deloitte Restructuring Inc. - returnable August 4, 2023 | PDF · Subscribers | |
| Application (re Sales Process) - returnable July 21, 2023 | PDF · Subscribers | |
Order
| PDF · Subscribers | |
| Second Report of the Receiver - 1975847 Alberta Ltd. | PDF · Subscribers | |
| Second Report of the Receiver - 2218923 Alberta Ltd. | PDF · Subscribers | |
| Second Report of the Receiver - Westmount Projects Inc. | PDF · Subscribers | |
Application (re Compliance) - returnable July 5, 2023
| PDF · Subscribers | |
First Report of the Receiver - 1975847 Alberta Ltd.
| PDF · Subscribers | |
| First Report of the Receiver - 2218923 Alberta Ltd. | PDF · Subscribers | |
First Report of the Receiver - Westmount Projects Inc.
| PDF · Subscribers | |
| Service Letter | PDF · Subscribers | |
| Notice and Statement of the Receiver - Westmount Projects Inc. | PDF · Subscribers | |
Receivership Order - 2218923 Alberta Ltd.
| PDF · Subscribers | |
Receivership Order - Westmount Projects Inc.
| PDF · Subscribers | |
Service Letter - May 10,2023
| 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., “Westmount Group of Companies” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/westmount-group-of-companies