Alberta · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 4 May 2015
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What we verified from this filing10 verified
- applicantERNST & YOUNG INC., IN ITS CAPACITY AS RECEIVER AND MANAGER OF WESTERN ROCK PRODUCTS LTD.
- courtCOURT OF QUEEN'S BENCH OF ALBERTA
- court file no1501-01117
- statutory basisthe Bankruptcy and Insolvency Act, RSC 1985, c B-3
- appointeeErnst & Young Inc.
- appointee rolereceiver and manager
- commencement date2 February 2015
- secured creditorsnote: Dentons concluded leasing companies have valid first ranking security; Receiver released its interest as value of Leased Equipment was less than buyout value; aggregate financiers grouped as PPSA equipment financiers (PMSI class) · page: 9 · as of: Appointment Date (February 2, 2015) · debtor: Western Rock Products Ltd. · creditor: Leasing companies (equipment lessors) · currency: CAD · security: Valid first ranking security against the Leased Equipment (four pieces of Construction Equipment)
- secured creditorsnote: Validity and enforceability opinion from Dentons pending as of report date · page: 9 · debtor: Western Rock Products Ltd. · creditor: Garage keeper's lien holder (unnamed) · currency: CAD · security: Garage keeper's lien registered against a WRP-owned piece of Construction Equipment
- secured creditorsnote: Receiver understands RBC is WRP's primary secured creditor; Dentons confirmed valid and first priority security interest in the Property; no balance stated · page: 10 · as of: Appointment Date (February 2, 2015) · debtor: Western Rock Products Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement (GSA) against the Property