Alberta · Receivership (court-appointed)
Grace - Receiver's Third Report (ASSEMBLED) - SEPTEMBER 8, 2025
Court officer report · 8 September 2025
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What we verified from this filing14 verified
- report date8 September 2025
- report noThird Report
- operational summaryThe Receiver's third report covers completion of the GRL Fleet auction (total sale proceeds $5,445,315 against an NMG of $5,600,000), listing of the Bone Yard with Avison Young, the proposed Conrich Settlement and subdivision with Longair, WEPP claims processing, insurance claims with Intact, and the Estimated Interim Statement of Receipts and Disbursements as of September 4, 2025.
- cash on handamount: 1969005 · currency: CAD
- professional feesamount: 302327 · currency: CAD
- cash on handnote: Consists of $1,490,573 CAD and $478,432 CAD-equivalent in USD cash held in trust, based on a conversion rate of 1.38 CAD per USD; anticipated retained balance after fee payments of $1,482,759. · as at: 2025-09-04 · amount: 1969005 · currency: CAD
- closing confirmedscope: the GRL Fleet / Auction Assets at auction · outcome: completed · effective: 2025-08-18 · date basis: stated · approval order date: 2025-06-30
- operational summaryThe Receiver completed a Ritchie Bros. auction of GRL's fleet and equipment at the GRL Premises, is marketing the Bone Yard property for sale through Avison Young, and is negotiating a settlement and subdivision of the Conrich Lands with Longair to resolve pre-receivership litigation, while winding down remaining aspects of the business including insurance, sublease termination, and accounts receivable collection.
- professional feesnote: Comprised of fees $181,311, disbursements $1,288, and GST $9,129. Receiver's legal counsel (BLG) fees for the same period were $98,752 plus disbursements of $6,590 plus GST of $816, for a total of $110,597. · party: Receiver (Grant Thornton Limited) · amount: 191730 · period: April 1, 2025 to July 31, 2025 · currency: CAD
- purchaserprice: note: total sale proceeds, lower than the net minimum guarantee of $5,600,000 · basis: cash · amount: 5445315 · sealed: false · currency: CAD · scope: the Auction Assets · status: closed · name note: end purchasers of GRL Fleet/assets at Ritchie Bros. auction, unnamed · structure: auction · name source: recital · relationship: unstated; price: note: proposed listing price under the AY listing agreement · amount: 4750000 · sealed: false · currency: CAD · scope: the Bone Yard · status: proposed · name note: proposed purchaser of the Bone Yard, not yet identified; listed with Avison Young · structure: real_property · name source: recital · relationship: unstated
- report date8 September 2025
- report noThird Report
- sale advisorRitchie Bros. Auctioneers (Canada) Ltd.
- sale outcometext: The auction of the GRL Fleet and other assets was completed, with total sale proceeds lower than the net minimum guarantee under the Auction Agreement · scope: ancillary · status: closed