Alberta · Receivership (court-appointed)
Application (Appointment of Receiver) - Filed
Application / notice of application · 3 November 2025
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 filing8 verified
- applicant2740805 ALBERTA LTD.
- commencement date3 November 2025
- courtCOURT OF KING’S BENCH OF ALBERTA
- court file no2503 20973
- appointeeErnst & Young Inc.
- appointee rolereceiver and manager
- secured creditorsnote: Debtor is guarantor, not primary borrower (primary debtor is ONE Properties Limited Partnership); guarantee limited to $10,000,000.00 principal (facility limit, not balance); rights assigned from ATB Financial to Applicant by Bare Assignment of Debt and Security dated August 26, 2025 · page: 3 · as of: 2025-10-31 · amount: 1598592.05 · debtor: WAM RED-L Limited Partnership (guarantor of ONE Properties Limited Partnership indebtedness) · creditor: 2740805 Alberta Ltd. (assignee of ATB Financial) · currency: CAD · security: General Security Agreement dated April 28, 2025 over all present and after-acquired personal property; Securities Pledge Agreement dated April 28, 2025 pledging 49.99% partnership units in WAM RED-L Property Holdings Limited Partnership; Guarantee dated April 14, 2025 limited to principal amount of $10,000,000.00 plus interest and costs
- statutory basissection 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3