Alberta · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 21 February 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing3 verified
- secured creditorsnote: Priestner and GP (MPRE GP Dev Inc.) applied for and obtained the Receivership Order Dec 13, 2022 after default; Companies had made no payments toward indebtedness since July 20, 2022; certificate of lis pendens registered Sept 27, 2022 against the same title · page: 4 · debtor: 2399430 Alberta Ltd. ("430 Alberta") · creditor: Mike Priestner Real Estate Inc. · currency: CAD · security: Mortgage securing principal sum of $5,218,904, plus interest and costs, registered against Jasper Ave (Plan F, Lot 6), registration #222 105 237, dated May 10, 2022 — figure is the mortgage's registered/original principal amount, not a stated outstanding balance
- secured creditorsnote: Mortgagee address (10220 184 Street NW, Edmonton) is identical to Mike Priestner Real Estate Inc.'s address, indicating an affiliated/related-party lender; Companies had made no payments toward indebtedness since July 20, 2022; certificate of lis pendens registered Sept 27, 2022 against the same titles · page: 4 · debtor: 2399449 Alberta Ltd. ("449 Alberta") · creditor: MPRE GP Dev Inc. · currency: CAD · security: Mortgage securing principal sum of $10,106,096, plus interest and costs, registered against Harvest, Sask Drive and Scona Garage, registration #222 128 556, dated June 6, 2022 — figure is the mortgage's registered/original principal amount, not a stated outstanding balance
- secured creditorsnote: Pre-existing 2008 registration carried on title; not mentioned as a creditor in the Receiver's narrative; a pending 'DISCHARGE' registration (received Dec 1, 2022) appears in the queue for this LINC but the document does not identify which instrument it discharges, so status as active/discharged is not confirmed · page: 16 · debtor: 2399449 Alberta Ltd. (Sask Drive property, Plan I2, Block 103, Lot 6) · creditor: Royal Bank of Canada · currency: CAD · security: Mortgage registered Nov 26, 2008, original principal amount $12,000,000, plus a related caveat re assignment of rents and leases (same date); still appears, undischarged, on the Dec 19, 2022 certified title alongside the 2022 GP mortgage