Alberta · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 5 January 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 filing4 verified
- secured creditorsnote: Original loan advanced was $10,500,000; balance of $8,246,007 plus interest and costs continuing to accrue as at June 16, 2025 (demand for payment delivered March 19, 2025 after loan matured Aug 1, 2024). Secured also by personal guarantees: Harsharan Chahal (director) limited guarantee of $2,625,000, and Harnirjodh Sing Chahal (shareholder) limited guarantee of $2,625,000 - guarantors are individuals, not corporate secured creditors. · page: 12 · as of: 2025-06-16 · amount: 8246007 · debtor: 1923846 Alberta Ltd. · creditor: Servus Credit Union Ltd. · currency: CAD · security: First ranking conventional mortgage (dated June 20, 2018) over Franklin Atrium; General Assignment of Leases and Rents (dated June 20, 2018); General Security Agreement (dated June 20, 2018) registered at Alberta PPR (June 27, 2018) over all present and after-acquired personal property and proceeds
- secured creditorsnote: Deemed trust class claim - unpaid pre-filing payroll source deductions, approximate amount; ranks in priority to Servus per Receiver; CRA finalizing trust audit and property claim · page: 13 · as of: 2025-11-12 · amount: 7000 · debtor: 1923846 Alberta Ltd. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Deemed trust class claim - unpaid GST for pre-receivership period July 1-30, 2025, approximate amount; ranks in priority to Servus per Receiver; CRA finalizing trust audit and property claim · page: 13 · as of: 2025-07-30 · amount: 7600 · debtor: 1923846 Alberta Ltd. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Unpaid property taxes ranking in priority to Servus per Receiver; to be paid from sale proceeds upon closing · page: 13 · as of: 2025-11-21 · amount: 85919 · debtor: 1923846 Alberta Ltd. · creditor: City of Calgary · currency: CAD · security: Statutory property tax lien