What we verified from this filing22 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- courtIN THE COURT OF KING'S BENCH OF ALBERTA
- court file no24-3396408
- commencement date9 July 2026
- financial positionnote: Table 2 (p.3) does not present a single labelled 'total liabilities' figure; components shown are current liabilities of $4,825,000 and a promissory note due of $801,000, offset by a shareholder deficit of $(3,142,000), reconciling to total assets of $2,484,000. A separate Statement of Affairs as at the date of bankruptcy (July 9, 2026) is presented in Table 5 (p.7) showing estimated realizable asset values (cash $28,000, accounts receivable $700,000 book value with $250,000-$500,000 estimated realizable, machinery/equipment $79,000 book with $30,000-$60,000 estimated, vehicles $51,000 book with $20,000-$40,000 estimated), with Trustee estimating nil recovery to both secured and unsecured creditors after distribution to the CRA deemed trust property claim of $981,856. · page: 3 · as at: 2025-10-31 · basis: Compiled financial statements prepared by an independent, external accountant (book value); no stub-period statements prepared for period ending on date of bankruptcy, July 9, 2026 · scope: Entity level - L.C. Greenough Construction Ltd. (non-consolidated) · currency: CAD · total assets: 2484000
- secured creditorsnote: Security opinion not yet obtained on validity/enforceability given prevailing CRA deemed trust claim; also a claimant in prior litigation against the Company (p.8). · page: 5 · as of: as filed with Trustee · amount: 46462 · debtor: L.C. Greenough Construction Ltd. · creditor: Amrize Canada Inc. · currency: CAD · security: PPR registration - text states interest in all present and after-acquired property; Table 3 (p.5) describes it as 'specific serial number registration'
- secured creditorsnote: Has registered interest at PPR but had not filed a proof of claim as at the date of this report; amount shown ($1,000) is the Trustee's estimated claim per Table 3, not a filed claim amount. · page: 5 · as of: as of Trustee's Report to Creditors, July 30, 2026 · amount: 1000 · debtor: L.C. Greenough Construction Ltd. · creditor: 1358648 Alberta Ltd. · currency: CAD · security: PPR registration - all present and after-acquired property
- secured creditorsnote: Security opinion not yet obtained by Trustee. · page: 5 · as of: as filed with Trustee · amount: 12488 · debtor: L.C. Greenough Construction Ltd. · creditor: Ford Credit Canada Limited · currency: CAD · security: Secured - specific serial number registration (lease of 2024 Ford F350 S/D)
- secured creditorsnote: Deemed trust class, priority over all other claims; Table 3 (p.5) rounds to $982,000; claim may change following completion of a trust audit. · page: 5 · as of: as filed with Trustee · amount: 981856 · debtor: L.C. Greenough Construction Ltd. · creditor: Canada Revenue Agency · currency: CAD · security: Deemed trust property claim - all present and after-acquired property (payroll source deductions)
- unsecured creditorsnote: Trustee identified 151 potential unsecured creditors owed approximately $2.2 million in total per Company's books and records; unsecured claims filed to date total approximately $1.4 million; a complete listing is included in the First Meeting of Creditors package posted to the Case Website (not part of these pages). · page: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4); Table 4 lists only the top ten of 151 identified unsecured creditors · amount: 46000 · debtor: L.C. Greenough Construction Ltd. · creditor: Lehmann Plumbing Ltd. · currency: CAD
- unsecured creditorspage: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 67000 · debtor: L.C. Greenough Construction Ltd. · creditor: BlackStone Mechanical · currency: CAD
- unsecured creditorsnote: Table 4 (p.6) rounds to $991,000. · page: 6 · as of: as filed with Trustee · basis: Listed in Table 4 (highest ten unsecured creditors based on the Company's records and claims filed to date); exact figure stated in text (p.5) as an unsecured claim filed by CRA, separate from its deemed trust secured claim · amount: 991221 · debtor: L.C. Greenough Construction Ltd. · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorspage: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 362000 · debtor: L.C. Greenough Construction Ltd. · creditor: Sustainable Development · currency: CAD
- unsecured creditorspage: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 99000 · debtor: L.C. Greenough Construction Ltd. · creditor: Hydro-Flo Plumbing and Heating Ltd. · currency: CAD
- unsecured creditorsnote: Company's bank; listed as unsecured creditor despite banking relationship - Trustee separately froze/collected ~$28,000 in Company's bank account with Scotia (p.4). · page: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 95000 · debtor: L.C. Greenough Construction Ltd. · creditor: Scotiabank · currency: CAD
- unsecured creditorspage: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 87000 · debtor: L.C. Greenough Construction Ltd. · creditor: Waiward Construction Management Inc. · currency: CAD
- unsecured creditorspage: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 78000 · debtor: L.C. Greenough Construction Ltd. · creditor: Antex Western Ltd. · currency: CAD
- unsecured creditorspage: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 71000 · debtor: L.C. Greenough Construction Ltd. · creditor: Nordic Managing Building Systems · currency: CAD
- unsecured creditorspage: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 55000 · debtor: L.C. Greenough Construction Ltd. · creditor: Commander Warehouse Equipment Ltd. · currency: CAD
- unsecured creditorspage: 6 · as of: claims filed to date, per Trustee's Report to Creditors dated July 30, 2026 · basis: Highest ten unsecured creditors per Company's records and claims filed to date (Table 4) · amount: 48000 · debtor: L.C. Greenough Construction Ltd. · creditor: Advanced Foundations Inc. · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Based on our review of the Company's assets and liabilities and the quantum of the CRA's deemed trust claim ($981,856), we estimate there will be a nil recovery to both secured and unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: secured and unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As such, we do not anticipate a recovery to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-07-30 · table missing: