Saskatchewan · Receivership (court-appointed)
Originating Application dated September 16, 2026
Application / notice of application · 16 September 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 filing11 verified
- applicantNATIONAL BANK OF CANADA
- courtCOURT OF KING'S BENCH FOR SASKATCHEWAN IN BANKRUPTCY AND INSOLVENCY
- court file noKBG-SA-1177-2026
- appointeeGrant Thornton Limited
- appointee rolereceiver
- proceeding typereceivership_court
- statutory basissection 243 of the Bankruptcy and Insolvency Act, section 10-15 of The King's Bench Act, and section 64(8) of The Personal Property Security Act, 1993
- statutory basissection 243 of the Bankruptcy and Insolvency Act, RSC 1985, c B-3 (the "BIA"), section 10-15 of The King's Bench Act, SS 2023, c 28
- secured creditorsnote: Guarantor security; no separate balance stated for Obasa. Exposure is the same indebtedness owed by Paradigm (see Paradigm entry), with interest and costs. · page: 5 · debtor: Obasa-Premier Suites Inc. · creditor: National Bank of Canada (successor to Canadian Western Bank) · currency: CAD · security: Obasa GSA: general security agreement dated June 12, 2017 granting a security interest in all present and after-acquired personal property, securing Obasa's full liability guarantee of Paradigm's indebtedness
- secured creditorsnote: Total owing under the Loans as stated by the applicant. Components: Credit Facility #353276 principal $8,026,997.61 + interest $367,882.06 = $8,394,879.67; Credit Facility #353277 principal $0.00 + interest $971.09; costs $41,954.41; forbearance fee $200,000.00. Guaranteed in full by Obasa-Premier Suites Inc. (guarantee June 12, 2017) and by the sole shareholder/director (personal guarantee June 12, 2017). Term loan matured March 2, 2026 and was not repaid. Applicant NBC's own statement, not independently verified. · page: 6 · as of: 2026-08-21 · amount: 8437805.17 · debtor: Paradigm Holdings Inc. · creditor: National Bank of Canada (successor to Canadian Western Bank) · currency: CAD · security: Paradigm Security: specific security agreements (Apr 5 and May 9, 2010) over personal property on the Lands; demand debenture (May 24, 2013) giving first-priority mortgage charge against the Lands; assignment of rents and leases (June 12, 2017); assignment of parking interests (Mar 7, 2023); general security agreement over all present and after-acquired personal property (Mar 7, 2023)
- counselMcDOUGALL GAULEY LLP