Alberta · Receivership (court-appointed)
Application of National Bank of Canada, March 25, 2026
Application / notice of application · 25 March 2026
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What we verified from this filing8 verified
- courtCOURT OF KING'S BENCH OF ALBERTA
- court file no2601-01599
- applicantNational Bank of Canada
- appointeeBDO Canada Limited
- appointee rolereceiver and manager
- 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)
- secured creditorsnote: Underlying Loan Agreements (commitment letters dated August 31, 2021 and November 12, 2019) were between the Debtors and Canadian Western Bank ('CWB') as lender, with Security granted in favour of NBC; relationship between CWB and NBC not further explained in these pages. Notices of default/demand and s.244 BIA notices issued July 7, 2025. No outstanding balance/indebtedness figure is stated anywhere in this application. Personal Full Liability Guarantees dated February 9, 2017 (PLC) and November 5, 2015 (640 Holdings) were provided by individual guarantors Luc Bériault and Jean Bériault (shareholders of the Debtors). · page: 3 · debtor: 640 Holdings Ltd. and Positive Life Concepts Inc. · creditor: National Bank of Canada · currency: CAD · security: General security agreement granted by PLC dated February 9, 2017; general security agreement granted by 640 Holdings dated November 5, 2015; demand note granted by 640 Holdings dated September 7, 2021 in the principal sum of $1,580,000.00 (principal advance, not a stated balance); mortgage registered in the Alberta Land Titles Office as instrument no. 151 302 669 against the Lands; assignment of leases registered as instrument no. 151 302 670
- unsecured creditorsnote: Deemed-trust class claim; no amount is stated in this document. · page: 6 · basis: Referenced only as 'CRA Arrears' in the Proposed Forbearance Terms, which required repayment before or concurrently with the Indebtedness · debtor: 640 Holdings Ltd. and/or Positive Life Concepts Inc. · creditor: Canada Revenue Agency · currency: CAD