Alberta · Interim receivership
Receiver's Fourth Report to Court
Court officer report · 13 October 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing16 verified
- secured creditorsnote: Servus Debt is stated jointly for Allstar and 239 Alberta (loans/credit to both); the $3,737,941 figure is stated as Allstar's indebtedness at December 3, 2025. No separate balance is stated for 239 Alberta. 239 Alberta owns 100% of Allstar's voting shares and, to the Receiver's knowledge, has no other assets. · page: 5 · debtor: 2390850 Alberta Inc. · creditor: Servus Credit Union Ltd. · currency: CAD · security: Security interest in all present and after-acquired personal property and proceeds, granted by 2390850 Alberta Inc.
- secured creditorsnote: No amounts stated. Receiver states no surplus proceeds have been identified from equipment creditor realizations to date; sale information from certain creditors remains outstanding. · page: 6 · debtor: Allstar Trenching & Excavating Inc. · creditor: Equipment creditors / lessors (PPSA, serial-numbered equipment; PMSI class) · currency: CAD · security: Ownership, true lease or prior-ranking security interests in specific serial-numbered vehicles and equipment; Receiver released its interest and permitted creditors to realize.
- secured creditorsnote: Receiver states Servus holds first-ranking security subject to priority claims (receiver's borrowings, CRA deemed trust). Amount is the aggregate stated at December 3, 2025, plus accrued and accruing interest and legal fees. Earlier figure: 'in excess of $3,700,000' as of October 29, 2025 (the 'Servus Debt'); demand made on or around October 31, 2025. Independent legal security opinion obtained confirming security valid and enforceable, subject to customary assumptions and qualifications. Receiver states funds available will not repay Servus in full and nothing will be available for junior secured or unsecured creditors; proposed distribution to Servus is $240,000 as partial repayment. · page: 9 · as of: 2025-12-03 · amount: 3737941 · debtor: Allstar Trenching & Excavating Inc. · creditor: Servus Credit Union Ltd. · currency: CAD · security: General security agreement over all present and after-acquired personal property and proceeds, granted by both Allstar and 2390850 Alberta Inc.; registered in Alberta April 29, 2024 and subsequently in Saskatchewan and Ontario; further secured by various guarantees from Sajid Mohamad Ali (personal guarantor).
- unsecured creditorsnote: Deemed trust (quasi-governmental) claim that the Receiver believes ranks in priority to Servus; Receiver proposes to pay it in full ($360,915) from receivership proceeds. Receiver assisted CRA with a trust audit and consulted counsel regarding the deemed trust claim. · page: 9 · basis: Deemed trust claim for unpaid pre-filing payroll source deductions; CRA has submitted a property claim to the Receiver; stated as 'approximate amount' · amount: 360915 · debtor: Allstar Trenching & Excavating Inc. · creditor: Canada Revenue Agency (unpaid pre-filing payroll source deductions) · currency: CAD
- unsecured creditorsnote: Court-ordered charge ranking in priority to Servus (subordinate to the Receiver's Charge and BIA-listed charges); not an ordinary unsecured claim. Proposed to be repaid with accrued interest. · page: 9 · basis: Funds borrowed by the Receiver, principal $50,000.00 plus interest, under the borrowing charge in the Receivership Order (authorized maximum $250,000) · amount: 50000 · debtor: Allstar Trenching & Excavating Inc.; 2390850 Alberta Inc. · creditor: Receiver's borrowings (MNP Ltd., Receiver's Borrowings Charge) · currency: CAD
- cash on handnote: Held in the Receiver's trust account. · as at: 2026-10-07 · amount: 705838 · currency: CAD
- disbursementssince: November 24, 2025 (period to October 7, 2026) · amount: 232815 · currency: CAD
- operational summaryAllstar had generally ceased operations before the interim receiver's appointment and all employees were terminated before the receivership. The Receiver has realized on all of the Companies' assets and finalized the administration of the estate, and now seeks approval of distributions and its discharge.
- professional feesnote: Receiver fees exclude disbursements of $278 and GST of $6,558 (total $137,708). Receiver's legal counsel McLennan Ross LLP fees of $44,787 to April 15, 2026, plus disbursements $1,680 and GST $2,312 (total $48,778). Further fees sought of up to $20,000 (Receiver) and $18,000 (counsel) to complete the administration. · party: MNP Ltd. (the Receiver) · amount: 130872 · period: November 13, 2025 to August 31, 2026 · currency: CAD
- purchaserprice: note: net auction proceeds received by the Receiver; amount not stated in the visible text · sealed: false · scope: vehicles, heavy equipment, trailers, attachments, inventory, tools and other miscellaneous personal property · status: closed · name note: end purchasers at unreserved auctions run by GDAA (Alberta) and McBids (Saskatchewan); unnamed · structure: auction · name source: operative · relationship: unstated
- receipts cumulativenote: Includes receiver's borrowings of $50,000 per the statement of receipts and disbursements. · since: November 24, 2025 (period to October 7, 2026) · amount: 938653 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Accordingly, there will be no funds available for distribution to junior-ranking secured or unsecured creditors. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: junior-ranking secured or unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The funds available for distribution will not be sufficient to repay the Servus Debt in full. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Servus Credit Union Ltd. · claims amount: 3737941 · creditor name: Servus Credit Union Ltd. · interim final: unstated · claims qualifier: unstated · table missing:
- report date13 October 2026
- report noFourth Report
- sale advisorG.D. Auctions & Appraisals Inc.; McBids Auctioneers & Appraisers Inc.
- sale outcometext: Personal property of the Companies was liquidated by unreserved auctions conducted by GDAA (Edmonton, February 2026) and McBids (Saskatchewan); net proceeds received by the Receiver. · scope: liquidation · status: liquidation_in_progress