Alberta · Receivership (court-appointed)
First Report of the Receiver, dated October 7, 2026
Court officer report · 7 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 filing11 verified
- secured creditorsnote: Document states this charge has also been fully drawn. · page: 10 · amount: 200000 · debtor: Regent Aircraft Services Inc. · creditor: Receiver's Borrowings Charge · currency: CAD · security: Court-ordered charge, maximum $200,000
- secured creditorsnote: Approximately $179,000 remains outstanding for professional fees and disbursements of the Interim Receiver. Approximate figure; document gives no precise as-of date for the outstanding amount. · page: 10 · as of: 2025-12-10 · amount: 179000 · debtor: Regent Aircraft Services Inc. · creditor: Interim Receiver's Charge (BDO Canada Limited) · currency: CAD · security: Court-ordered charge, maximum $200,000 (as increased by the IR Extension Order from $100,000)
- secured creditorsnote: Professional fees and disbursements of the Receiver and its counsel materially exceed the $200,000 maximum. Fees incurred to Sept 30, 2026: Receiver approx. $391,228; Receiver's counsel approx. $98,000 plus GST. · page: 10 · debtor: Regent Aircraft Services Inc. · creditor: Receiver's Charge (BDO Canada Limited) · currency: CAD · security: Court-ordered charge, maximum $200,000
- secured creditorsnote: Document states this charge has been fully drawn. · page: 10 · amount: 300000 · debtor: Regent Aircraft Services Inc. · creditor: Interim Receiver's Borrowings Charge · currency: CAD · security: Court-ordered charge, maximum $300,000 (increased from $250,000 per the Third IR Report relief sought)
- secured creditorsnote: Approximate amount per Kakkar Affidavit, plus continuing interest and costs. Receiver reports a significant loss to ATB: net sales proceeds are estimated not to cover even the Court Ordered Charges. ATB has also advanced additional funds on an unsecured basis over and above the Court Ordered Charges to pay licensors for October 2026 (amount not stated). · page: 11 · as of: 2025-11-12 · amount: 2882926 · debtor: Regent Aircraft Services Inc. · creditor: ATB Financial · currency: CAD · security: General Security Agreement over all present and after-acquired personal property, perfected by registration in the Alberta Personal Property Registry
- secured creditorsnote: Quasi-governmental/statutory priority claim, not consensual security. Ranks in priority to any distribution to ATB. Receiver anticipates no distribution will be available to it. · page: 11 · amount: 55986 · debtor: Regent Aircraft Services Inc. · creditor: Service Canada (WEPPA) · currency: CAD · security: Statutory super-priority claim under WEPPA
- secured creditorsnote: Deemed trust class; CRA advances a total claim of $507,898. Unremitted GST priority claim (estimated $210,643) has been reversed as a result of Regent's bankruptcy. Receiver anticipates no distribution to CRA's deemed trust claim. · page: 11 · amount: 364405 · debtor: Regent Aircraft Services Inc. · creditor: Canada Revenue Agency (employee source deductions - deemed trust) · currency: CAD · security: Statutory deemed trust / super-priority claim for employee source deductions, based on CRA audits
- secured creditorsnote: Receiver issued release letters for various Leased Assets; a number of Leased Assets could not be located and the lessors were instructed to contact Mr. Gratto directly. Some releases were made where lessor ownership was adequately established and no apparent equity existed. No amounts stated. · page: 11 · debtor: Regent Aircraft Services Inc. · creditor: Meridian Onecap Credit Corp., Bodkin/Bennington Financial Corp., Royal Bank of Canada, Polaris Leasing Ltd., Vault Credit Corporation, National Bank Equipment Finance (formerly CWB National Leasing Inc.) · currency: CAD · security: Lessors/financiers of the Leased Assets (equipment financiers, PMSI-type class)
- unsecured creditorsnote: Disputed; this is a competing ownership/entitlement claim to funds held in trust, not a stated debt of the Company. The same funds are described elsewhere in the report as approximately $368,000. Receiver has taken no position on entitlement. Mr. Hades' affidavit also asserts a purchase of the Wings for USD $500,000; the Receiver found an unsigned draft loan agreement for USD $500,000 and a USD $25,000 payment to Mr. Hades. · page: 15 · basis: Disputed entitlement to trust funds arising from sale of the Aircraft Wings; counsel to Mr. Hades holds approximately USD $316,456 in trust pending determination of the parties' entitlements · amount: 316456 · debtor: Regent Aircraft Services Inc. · creditor: Barry Hades (disputed claim to funds held in trust) · currency: USD
- unsecured creditorsnote: Disputed. Gravitas asserts ownership of the MSN 106 Fuselage via the bill of sale dated June 25, 2025; an email of August 8, 2025 states that if the advance is not returned it is to be credited to Gravitas invoices. Gravitas owes Regent $935,725 in accounts receivable (the Gravitas AR), which Gravitas disputes or counterclaims against. The Trustee intends to accept Gravitas's final property proof of claim. Possible transfer-at-undervalue challenge under s. 96 BIA if treated as an outright transfer (USD $750,000 value in the MSN 106 Fuselage Quote). · page: 15 · as of: 2025-06-25 · basis: Advance of CDN$100,000 by Gravitas, said to be secured by the MSN 106 Bill of Sale; Receiver's understanding is the bill of sale was security for the advance only, not an outright transfer · amount: 100000 · debtor: Regent Aircraft Services Inc. · creditor: Gravitas Aviation Ltd. (and SEFT Holdings Ltd.) · currency: CAD
- secured creditorsnote: Approximately USD $54,618 plus accrued interest. Lien is asserted, not confirmed; BLKBOX also seeks statutory set-off of mutual debts. · page: 18 · amount: 54618 · debtor: Regent Aircraft Services Inc. · creditor: BLKBOX Innovations Inc. · currency: USD · security: Asserted possessory lien under the Possessory Liens Act (Alberta) over the BLKBOX Claimed Assets: C6W1001-25 SN 449L22 Wing Box and C6FS1200-5 SM 072 Cockpit Structural Assembly