Alberta · Receivership (court-appointed)
Receiver's Second Report
Court officer report · 4 September 2026
What we verified from this filing7 verified
- secured creditorsnote: Deemed trust class; per legal opinion, subordinate to Roynat's mortgage on the Lands but would have priority over personal property (of which there was none); no assets for this claim to attach to. · page: 6 · as of: 2026-05-22 · amount: 34815.28 · debtor: 1901467 Alberta Ltd. · creditor: Canada Revenue Agency (Deemed Trust Claim - GST/HST) · currency: CAD · security: Deemed trust under subsection 222(3) of the Excise Tax Act
- secured creditorsnote: Approximate liabilities figure per report; described as plus applicable interest and costs. Legal opinion confirms valid and enforceable mortgage. Receiver anticipates Roynat will suffer a shortfall. · page: 6 · as of: 2025-07-05 · amount: 2761866 · debtor: 1901467 Alberta Ltd. · creditor: Roynat Inc. · currency: CAD · security: Registered mortgage against the Lands (registration #192 028 681, original principal $3,422,000) and general security interest in all personal property of 190 AB; also caveat re assignment of rents and leases
- unsecured creditorsnote: Remainder of GST/HST claim after deducting the deemed trust portion; CRA asked when this balance would be paid. · page: 6 · as of: 2026-05-22 · basis: CRA demand letter stating remaining balance of GST/HST owing of $82,985.04 less $34,815.28 deemed trust portion · amount: 48169.76 · debtor: 1901467 Alberta Ltd. · creditor: Canada Revenue Agency (GST/HST - unsecured portion) · currency: CAD
- unsecured creditorsnote: Unsecured claim per Proof of Claim; Principal $1,339.00 plus penalty and interest $637.64. · page: 12 · as of: 2025-10-02 · basis: Proof of Claim (Form 31) filed by CRA · amount: 1976.64 · debtor: 1901467 Alberta Ltd. · creditor: Canada Revenue Agency (Income Tax Act - corporate tax) · currency: CAD
- secured creditorsnote: Registered mortgage on title; not discussed as an active claimant in the report narrative (Roynat identified as the primary secured creditor); original principal amount, not a stated balance. · page: 18 · debtor: 1901467 Alberta Ltd. · creditor: The Bank of Nova Scotia · currency: CAD · security: Registered mortgage against the Lands, registration #222 076 592, dated 01/04/2022, original principal amount $2,000,000
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST 5% · quote: GST 5 % | 2,392.86 · amount: 2392.86 · fees: quote: Receiver Fees: | | 47,830.00 · amount: 47830 · total: quote: Total: | | 47,857.14 | GST 5 % | 2,392.86 | 50,250.00 · amount: 50250 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Expenses: | | 27.14 · amount: 27.14 · period: end: 2026-08-06 · kind: interim · label: Fee Period · quote: the approval of fees and disbursements of the Receiver for the period of July 18, 2025, to August 6, 2026 (collectively, the "Fee Period"). · start: 2025-07-18 · approval: quote: This Affidavit is made in support of an application by the Receiver for an Order for, among other things, the approval of fees and disbursements of the Receiver · state: sought · averages: · currency: code: CAD · quote: CAD Total · invoices: · firm text: Ernst & Young Inc. · firm quote: Ernst & Young Inc. ("EYI" or the "Receiver") · context quote: an Order for, among other things, the approval of fees and disbursements of the Receiver for the period of July 18, 2025, to August 6, 2026 (collectively, the "Fee Period").; form: prose · rows: · money: total: quote: Copies of MLT's invoices, totalling $21,142.33 (including GST) are attached as Exhibit "B". · amount: 21142.33 · includes tax: true · approximate: false · period: end: 2026-07-31 · kind: cumulative · quote: I have reviewed the invoices of MLT rendered from the inception of these Receivership Proceedings to July 31, 2026 · approval: quote: This Affidavit is made in support of an application by the Receiver for an Order for, among other things, the approval of fees and disbursements of the Receiver · state: sought · averages: · currency: · invoices: · firm text: MLT Aikins LLP · firm quote: EYI retained MLT Aikins LLP ("MLT") as counsel to the Receiver · context quote: I have reviewed the invoices of MLT rendered from the inception of these Receivership Proceedings to July 31, 2026, and I am satisfied that the services have been undertaken by MLT at the request of the Receiver and that the fees and disbursements of MLT are reasonable.
- recovery outcomeentries: basis: estimated · quote: After considering the Roynat Indebtedness, the Roynat Security and the Net Lands Proceeds, the Receiver anticipates that Roynat will suffer a shortfall. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Roynat · creditor name: Roynat · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, the Receiver does not anticipate a distribution to creditors other than Roynat (save only for the Lands Expenses, as outlined and defined below). · pct of: unstated · outcome: nil · stated by: receiver · class label: creditors other than Roynat · interim final: unstated · conditional on: save only for the Lands Expenses · claims qualifier: unstated · stated on: 2026-09-03 · table missing: