Alberta · Receivership (court-appointed)
Receivership Application
Application / notice of application · 21 February 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing9 verified
- commencement date10 February 2025
- courtCOURT OF KING'S BENCH OF ALBERTA
- court file no2501-01744
- applicantATB Financial
- appointeeFTI Consulting Canada Inc.
- appointee rolereceiver and manager
- secured creditorsnote: Debtors in default under Loan Agreement and Security; notice of default and demand issued January 16, 2025 along with s.244 BIA notice; consent receivership order agreed under 2024 Forbearance Agreement · page: 2 · as of: 2025-01-14 · amount: 8155974.17 · debtor: Local First Media Group Inc. and Local First Properties Inc. (Borrowers), with guarantees from BTC USA Holdings Management Inc., Local First Properties USA Inc., Alaska Broadcast Communications, Inc., and Broadcast 2 Podcast, Inc. · creditor: ATB Financial · currency: USD · security: General security agreements dated April 26, 2023 (Local First Media, Local First Properties); pledge agreement dated April 26, 2023 (Local First Media); guarantor security including Pledge Agreement (Broadcast 2 Podcast), Security Agreements (Alaska Broadcast, BTC USA, Local First Properties USA), and Deed of Trust (Local First Properties USA)
- statutory basissection 243 of the Bankruptcy and Insolvency Act (Canada), section 13 of the Judicature Act (Alberta) and section 65(7) of the Personal Property Security Act (Alberta)
- counselConsented To By Miller Thomson LLP