Alberta · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 29 June 2026
What we verified from this filing6 verified
- secured creditorsnote: Senior/primary secured lender; National Bank also obtained various guarantees in connection with the lending arrangements (guarantors not named - personal guarantees). Amount owing stated as of July 31, 2025, plus interest and costs continuing to accrue. Receiver anticipates National Bank will suffer a shortfall on the contemplated sale, leaving no proceeds for subsequent encumbrancers. · page: 7 · as of: 2025-07-31 · amount: 9086012 · debtor: One Properties Paramount Limited Partnership by its general partner One Properties Paramount GP Inc. · creditor: National Bank of Canada (successor in interest to Canadian Western Bank) · currency: CAD · security: First ranking mortgage dated December 7, 2018 over the Paramount Lands, principal amount $9,000,000, registered as Alberta Land Titles instrument 192 004 316; general security agreement dated December 7, 2018 over all present and after-acquired personal property, registered at Alberta PPR November 14, 2018; general assignment of rents and leases dated December 7, 2018 (instrument 192 317); environmental agreement and indemnity dated December 18, 2018
- secured creditorsnote: Subordinate ('Additional Paramount Lands Encumbrancer') to National Bank's mortgage; Receiver anticipates no sale proceeds will be available for distribution to this creditor due to National Bank's expected shortfall. Amount shown is original registered principal, not a stated outstanding balance. · page: 12 · debtor: One Properties Paramount GP Inc. · creditor: Luxor Land Ltd. and Mesa West Capital Corp. · currency: CAD · security: Second-ranking mortgage registered January 8, 2019 (instrument 192 004 318), original principal amount $3,000,000, subject to amending agreements registered 2021, 2022 and 2022 (instruments 212 032 745, 222 074 065, 222 267 853); also holds Caveat: Assignment of Rents and Leases and Caveat: Vendor's Lien (instrument 192 004 319) registered same date
- secured creditorsnote: Subordinate ('Additional Paramount Lands Encumbrancer'); no amount stated; Receiver anticipates no sale proceeds available to this creditor. · page: 12 · debtor: One Properties Paramount GP Inc. · creditor: Canada ICI Capital Corporation · currency: CAD · security: Caveat: Assignment of Interest registered April 3, 2020 (instrument 202 088 243), re-registered January 9, 2025 (instrument 252 006 953)
- secured creditorsnote: Subordinate ('Additional Paramount Lands Encumbrancer'); no amount stated; Receiver anticipates no sale proceeds available to this creditor. · page: 13 · debtor: One Properties Paramount GP Inc. · creditor: ATB Financial and Servus Credit Union Ltd. · currency: CAD · security: Caveat: Assignment of Interest registered May 2, 2025 (instrument 252 115 747)
- secured creditorsnote: Priority claim ranking ahead of National Bank per Receiver's analysis; to be paid from proceeds of sale of the Paramount Lands upon closing. · page: 13 · as of: 2026-06-30 (property tax due date, projected) · amount: 254651 · debtor: One Properties Paramount GP Inc. / One Properties Paramount Limited Partnership · creditor: City of Edmonton · currency: CAD · security: Unpaid municipal property taxes for 2025 and 2026
- recovery outcomeentries: basis: estimated · quote: Based on the sale price in the contemplated APA we anticipate National Bank will suffer a shortfall on their indebtedness. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: National Bank of Canada · creditor name: National Bank of Canada · interim final: unstated · conditional on: Based on the sale price in the contemplated APA · claims qualifier: unstated; basis: estimated · quote: As a result, there will be no sale proceeds available to be distributed to any of the Additional Paramount Lands Encumbrancers. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: Additional Paramount Lands Encumbrancers · interim final: unstated · claims qualifier: unstated · table missing: A copy of the proposed waterfall distribution