Alberta · Receivership (court-appointed)
Application
Application / notice of application · 23 October 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing14 verified
- applicantROYAL BANK OF CANADA
- commencement date23 October 2026
- courtCOURT OF KING'S BENCH OF ALBERTA
- court file no2601-12610
- appointeeMNP Ltd.
- appointee rolereceiver and manager
- proceeding typereceivership_court
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, section 13(2) of the Judicature Act, section 99(a) of the Business Corporations Act, and section 65(7) of the Personal Property Security Act
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, RSC 1985, c B-3 (the “BIA”), section 13(2) of the Judicature Act, RSA 2000, c J-2
- secured creditorsnote: Balance as at May 8, 2026, with interest then accruing at approx. $60.12/day on Demand Facility and Term Facilities, plus legal fees and costs. A later payout statement as at October 16, 2026 is exhibited to the Blahun Affidavit (figure not stated here). Facilities: $650,000 revolving demand facility; two term facilities of $162,995.25 and $116,219.20 maturing Nov 30, 2026; four credit cards with combined maximum $50,000 (limits, not balances). Collateral mortgage amounts are registered principal, not balances. RBC holds security over all or substantially all of the Property. Personal guarantees exist from four individual respondents (directors/principals). · page: 4 · as of: 2026-05-08 · amount: 963104.36 · debtor: 1291748 Alberta Ltd. o/a Red Deer Windows & Doors · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated November 8, 2021 over all present and after-acquired personal and real property; collateral mortgage (registered principal $170,000) on 1-4676 61 Street, Red Deer; collateral mortgage (registered principal $255,000) on 3-4676 61 Street, Red Deer; guarantees and postponements of claim from four individual guarantors
- financial positionnote: No asset or liability totals are stated; figures are described only in the Blahun Affidavit (not included). · page: 5 · basis: Qualitative description in RBC's application: "RDWD's financial information disclosed material deterioration in liquidity and capitalization, including negative working capital, a retained earnings deficit, negative shareholders' equity, increased debt and significant shareholder dividends during 2023 and 2024." · scope: 1291748 Alberta Ltd. o/a Red Deer Windows & Doors (single entity); lender-side application, no balance sheet totals stated · currency: CAD
- secured creditorsnote: Listed on the service list only as a "Secured Party"; amount and collateral not stated. · page: 11 · debtor: 1291748 Alberta Ltd. o/a Red Deer Windows & Doors · creditor: Ford Credit Canada Company · currency: CAD
- secured creditorsnote: Listed on the service list only as a "Secured Party"; amount and collateral not stated. · page: 11 · debtor: 1291748 Alberta Ltd. o/a Red Deer Windows & Doors · creditor: The Bank of Nova Scotia · currency: CAD
- secured creditorsnote: Listed on the service list only as a "Secured Party"; amount and collateral not stated. · page: 11 · debtor: 1291748 Alberta Ltd. o/a Red Deer Windows & Doors · creditor: Meridian OneCap Credit Corp. · currency: CAD