Alberta · Receivership (court-appointed)
Receivers Second Report to Court – Dated October 16, 2026
Court officer report · 16 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 filing15 verified
- cash on handnote: Stated as held in trust per the Statement of Receipts and Disbursements for May 7 to September 30, 2026. The Proposed Distribution section separately estimates the amount available for distribution at $919,105. · as at: 2026-09-30 · amount: 919491 · currency: CAD
- closing confirmedscope: Auction Assets sold at the July 15, 2026 auction · outcome: completed · date basis: unstated · approval order date: 2026-06-16
- disbursementssince: May 7, 2026 (Date of Receivership), through September 30, 2026 · amount: 287535 · currency: CAD
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2026-09-30 · kind: interim · quote: for the period of May 1, 2026, to September 30, 2026 · start: 2026-05-01 · approval: state: unstated · averages: rate: 392 · quote: The average blended hourly rate charged by the Receiver in these proceedings for invoices issued to date is $392 per hour. · scope: invoices issued to date · currency: · invoices: · firm text: BDO Canada Limited · firm quote: SECOND REPORT OF BDO CANADA LIMITED IN ITS CAPACITY AS COURT APPOINTED RECEIVER · context quote: SECOND REPORT OF BDO CANADA LIMITED IN ITS CAPACITY AS COURT APPOINTED RECEIVER
- insolvency professionalDavid Lewis
- lawyerBren R. Cargill
- operational summaryNorthern has ceased operating: it was deemed bankrupt on May 28, 2026, its assets were sold at a July 2026 auction for net proceeds of about $1.01 million, and vacant possession of the premises was given to Normac on August 31, 2026. The Receiver is now seeking approval of a distribution and its discharge.
- professional feesnote: Inclusive of GST; estimated further $15,750 (incl. GST) to complete administration. Receiver's legal counsel Witten LLP: $17,950 incl. GST to date, plus an estimated $15,750 incl. GST to close. · party: BDO Canada Limited (Receiver) · amount: 190355 · period: May 7, 2026 to September 30, 2026 · currency: CAD
- purchaserprice: note: gross auction sales $1,014,040; net proceeds to the estate $1,011,924 · basis: cash · amount: 1014040 · sealed: false · currency: CAD · scope: all the assets of Northern (the "Auction Assets") · status: closed · name note: end purchasers of the Auction Assets at the July 15, 2026 auction, unnamed · structure: auction · name source: recital · relationship: unstated
- receipts cumulativesince: May 7, 2026 (Date of Receivership), through September 30, 2026 · amount: 1207026 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The Receiver notes that the Net Auction Proceeds will be insufficient to address the Servus Indebtedness, and accordingly, Normac will incur a shortfall on the acquired Servus Indebtedness. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Servus Indebtedness (Normac as acquirer of the Servus Security) · claims amount: 2894011 · creditor name: Normac · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: After considering the Servus Indebtedness, the Servus Sccurity, and the Net Auction Proceeds, there will be no distribution to Northern's unsecured creditors in this proceeding. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Northern's unsecured creditors · claims amount: 2864425 · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: (a) Payment to Service Canada on account of the WEPPA priority claim of $32,431; and · pct of: unstated · outcome: distribution · class key: weppa · stated by: receiver · amount low: 32431 · amount high: 32431 · class label: Service Canada WEPPA priority claim · claims amount: 32431 · creditor name: Service Canada · interim final: unstated · claims qualifier: unstated · stated on: 2026-10-16 · table missing:
- report date16 October 2026
- report noSecond Report
- sale advisorGD Auctions & Appraisals; Mirterra Corp.; Maynards Industries; McDougall Auctioneers Ltd.
- sale outcometext: The Auction held July 15, 2026 exceeded the Joint Proposal's net minimum guarantee, with gross sales of $1,014,040 and net proceeds to the estate of $1,011,924; all Auction Assets were removed from the Premises before July 31, 2026. · scope: liquidation · status: closed