Alberta · Receivership (court-appointed)
Application (Appoint Receiver)
Application / notice of application · 4 November 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 filing3 verified
- secured creditorsnote: The application states each loan balance individually but does NOT state a total 1436 Indebtedness figure; amount left null per no-computation rule. Application heading says indebtedness 'as of October 21, 2026' while each balance is stated 'as at October 23, 2026'. Demand and BIA s.244 notice served September 17, 2026; 1436 in default. Equipment seized by bailiff Oct 2, 2026. Grant Kergen has agreed to subordinate and postpone all his security interests in 1436 to RBC (Subordination Agreement, April 27, 2023). Floating-rate interest continues to accrue. · page: 3 · as of: 2026-10-23 · debtor: 1436019 Alberta Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement over all present and after-acquired personal property, perfected by Alberta PPR registration. Indebtedness comprises numerous term loans (#38125986-004 at $943,766.92 at Prime+1.25%; and some 45 further loans numbered -291 through -381 at Prime+1.40%, each stated individually with balances as at Oct 23, 2026, e.g. -360 at $546,125.98, -344 at $426,954.67, -343 at $407,230.08) plus a VISA facility of $85,323.44 at 19.99%, plus any further advances after Oct 23, 2026 and solicitor-and-own-client costs.
- secured creditorsnote: Individual guarantor; not a debtor in the receivership appointment sought. Stated 'Grant Indebtedness' principal $7,691,589.27 plus interest from Oct 23, 2026 at 5.00% above Prime plus legal costs. Demand served Sept 17, 2026. This guarantee exposure is a personal guarantee claim, not security over the Debtors' property. · page: 5 · as of: 2026-10-23 · amount: 7691589.27 · debtor: Grant Kergen (individual guarantor of 1436019 Alberta Ltd.) · creditor: Royal Bank of Canada · currency: CAD · security: Personal guarantee (Guarantee for Indebtedness of an Incorporated Company, April 27, 2023) limited to principal $10,900,000.00 plus interest from demand at Prime + 5.00% and costs.
- secured creditorsnote: 1496 is a guarantor of 1436's debt. Stated principal exposure under the First 1496 Guarantee (Nov 25, 2016, limited to $500,000) and Second 1496 Guarantee (Apr 27, 2023, limited to $1,500,000) is $2,000,000.00 plus interest from Sept 17, 2026 at 5.00% above Prime plus legal costs; this equals the sum of the two guarantee limits and is stated as such in the application ('together with any direct indebtedness of 1496 to RBC'). Related-party guarantor. Demand and s.244 notice served Sept 17, 2026. · page: 6 · as of: 2026-09-17 · amount: 2000000 · debtor: 1496200 Alberta Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement over all present and after-acquired personal and real property (perfected by Alberta PPR registration); floating charge on real property registered by Caveat dated September 16, 2026 against the 1496 Lands (Lot 48, Block 12, Plan 1633078, 0.918 ha, Leduc, Alberta) (the 'Equitable Mortgage').