Alberta · Bankruptcy
Application (Bankruptcy)
Application / notice of application · 2 January 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 filing9 verified · 1 withheld
- applicant10600294 ALBERTA LTD.
- courtCOURT OF KING'S BENCH OF ALBERTA
- court file noBK01-095588
- appointeeMNP Ltd.
- appointee roleTrustee in Bankruptcy
- statutory basissections 42 and 43 of the Bankruptcy and Insolvency Act
- financial positionnote: No quantified totals given. The Applicant asserts the Bankrupt 'has limited or no remaining exigible assets over which the Applicant can levy execution' (para 26) and that Undertaking Response No. 1 confirms the Bankrupt 'does not have any assets after the sale of the Condominium 546, 230 New Brighton Way SE, Calgary' (para 22). Draft Order (unsigned, no pronouncement date) would adjudge 1052954 Alberta Ltd. bankrupt and appoint MNP Ltd. as Trustee. · page: 5 · basis: Creditor-side bankruptcy application; no debtor balance sheet stated. Qualitative asset statements only, as admitted by the Bankrupt / per Undertaking Response No. 1 · scope: 1052954 Alberta Ltd. (single corporate entity) · currency: CAD
- secured creditorsnote: NOT a current secured claim - recorded for completeness only. Applicant states that, as far as it is aware, the debt owing to RBC was repaid in full and the Receivership Proceedings have been discontinued (para 19). Amount not stated. · page: 5 · debtor: 1052954 Alberta Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Receivership sought over the Bankrupt and Premsteel Fabricators Inc. (Court of King's Bench Action No. 2501-06344, commenced on or about April 23, 2025)
- unsecured creditorsnote: Excludes legal costs. Arises from the $450,000 'Redemption Price' under a July 18, 2024 Settlement Agreement / Share Repurchase Agreement (the $450,000 is the original obligation; $305,947.50 is the stated remaining Outstanding Indebtedness). Judgment obtained on or about April 7, 2025 in the Related Action (Action No. 2501-05204) for the Redemption Price plus interest and costs. Applicant is a related party - previously held 24% of the Bankrupt's issued and outstanding voting common shares. Unsecured judgment creditor (para 26: the Bankrupt has limited or no remaining exigible assets over which the Applicant can levy execution). Naming inconsistency in the document: the body calls the Applicant '1600294 Alberta Ltd.' / '294 Ltd.' while the cover page and draft Order name it '10600294 Alberta Ltd.'; as-of taken as the application date (dated 2025-11-18, issued 2025-11-28, filed 2026-01-02). · page: 5 · as of: 2025-11-18 · basis: Applicant's bankruptcy application (ss. 42 and 43 BIA); 'Outstanding Indebtedness' pursuant to the Settlement Agreement, excluding legal costs (para 23) · amount: 305947.5 · debtor: 1052954 Alberta Ltd. · creditor: 10600294 Alberta Ltd. (Applicant / judgment creditor) · currency: CAD
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.