Alberta · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 16 October 2025
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What we verified from this filing4 verified · 1 withheld
- financial positionnote: Total assets approx US$1.0M comprised of Cash US$46,400, Trade/other receivables US$752,500, PP&E US$208,100; book values do NOT account for value of Real Estate Properties owned by Local First USA (separate entity), which had a management-provided valuation of US$6.7 million as of October 22, 2024. Unsecured creditors reported at approximately US$5.6 million as at Appointment Date (page 9) but not stated as part of a formal balance sheet. · page: 8 · as at: 2024-12-31 · basis: unaudited Frontier Media financial statements (book value) · scope: entity-level - Frontier Media LLC only (operational entity) · currency: USD · total assets: 1006900
- secured creditorsnote: Approximate amount stated as 'approximately US $8.2 million plus accrued interest and legal costs'; Receiver's Counsel conducting independent review of validity and enforceability of ATB's security · page: 9 · as of: Appointment Date (February 21, 2025) · amount: 8200000 · debtor: Local First Media Group Inc., Local First Properties Inc., BTC USA Holdings Management Inc., Local First Properties USA Inc., Alaska Broadcast Communications, Inc., Frontier Media LLC, Broadcast 2 Podcast, Inc. · creditor: ATB Financial · currency: USD · security: Security over the Debtors' Property (fulcrum secured creditor); Local First Media and Local First Properties are main borrowers; BTC USA, Frontier Media, and Alaska Broadcast Communications are Guarantors
- sale outcometext: The Receiver is requesting the this Honourable Court approve the Sale Process and Stalking Horse APA. · scope: parcel · status: pending_approval
- stalking horseAlaska First Media Inc.
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.