Alberta · Receivership (court-appointed)
First Report of the Receiver dated July 24, 2026
Court officer report · 24 July 2026
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What we verified from this filing9 verified
- secured creditorsnote: Debt figure ('Otéra Debt') is the stated outstanding balance plus accrued and accruing interest, costs and other expenses, per Affidavit of Roy Lall sworn July 2, 2025; $155,500,000 is registered original mortgage principal, not the outstanding balance; underlying facilities per Aug 30, 2019 Commitment Letter were a $128,500,000 term loan (funded Nov 7, 2019) and up to $27,000,000 multiple advance loan facility (net $7,985,600 advanced Oct 26, 2021); ECC in default from Dec 1, 2024; forbearance agreement Feb 21, 2025; demand and NOI issued June 16, 2025 · page: 6 · as of: 2025-06-01 · amount: 139508037.26 · debtor: Edmonton City Centre Inc. · creditor: Otéra Capital Inc. · currency: CAD · security: All present and after-acquired goods, chattel paper, instruments, documents of title, money, investment property and intangibles located at/about ECC lands and premises, plus proceeds (PPR registration); separate PPR 'Land Charge' registration; registered Mortgage dated November 26, 2019 with Original Principal of $155,500,000 (Land Titles)
- secured creditorsnote: Serialized-equipment financiers aggregated per PPR search results; no dollar amounts stated in PPR summary · page: 9 · debtor: Edmonton City Centre Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Konica Minolta Business Solutions (Canada) Ltd. - photocopiers with attachments/accessories/proceeds; Xpedite Leasing Inc. - fitness equipment per Apple Fitness Store/Lin North invoice dated Nov 30, 2022, lease agreement no. 302769, plus proceeds
- secured creditorsnote: Subcontractor lien registered in connection with Parkade Project · page: 9 · as of: 2024-11-15 · amount: 68731 · debtor: Edmonton City Centre Inc. · creditor: United Rentals of Canada, Inc. · currency: CAD · security: Construction Lien registered against ECC lands (Instrument #242 286 266)
- secured creditorsnote: Disputed claim: underlying Statement of Claim filed Aug 5, 2025 seeks judgment of $585,059.47 for unpaid invoices/unjust enrichment/quantum meruit; ECC's Statement of Defence and Counterclaim asserts overpayment/set-off entitling ECC to $149,960.46; a later Lien Fund Application/Order exhibit lists the four lien registrations at $355,093.00 each rather than $366,376 as stated here; Receiver's preliminary position is that the lien is subordinate to the Otéra mortgage · page: 9 · as of: 2025-02-14 · amount: 366376 · debtor: Edmonton City Centre Inc. · creditor: Chancelot Concrete Restoration Ltd. · currency: CAD · security: Construction Liens registered against ECC lands (Instruments #252 042 286, #252 042 287, #252 042 288, #252 042 289)
- secured creditorsnote: Receiver notes two liens filed in different amounts against different titles relate to the same Chancelot project; amount actually claimed per Clay's Statement of Claim filed July 25, 2025 is $214,161.68 · page: 9 · as of: Statement of Claim filed July 25, 2025 · amount: 214161.68 · debtor: Edmonton City Centre Inc. · creditor: Clay Consulting and Construction Management Inc. · currency: CAD · security: Construction Liens registered against ECC lands (Instrument #252 028 265 - $214,870 registered Jan 29, 2025; Instrument #252 059 475 - $214,161.68 registered March 5, 2025), relating to same Chancelot project
- unsecured creditorsnote: ECC has no employees; Receiver is of the view there are no amounts owing for unremitted source deductions/payroll amounts · page: 10 · basis: Receiver's review of ECC's books and records, confirmed by Canderel and NADG · amount: 0 · debtor: Edmonton City Centre Inc. · creditor: Canada Revenue Agency (payroll remittances) · currency: CAD
- unsecured creditorsnote: GST account was registered under business name LaSalle Canada Core Real Property, L.P. rather than ECC's; CRA cannot yet confirm any pre-receivership liability; new GST account requested effective Receivership date · page: 10 · basis: Potential pre-receivership GST liability; status unresolved as CRA has not scheduled requested audit · debtor: Edmonton City Centre Inc. · creditor: Canada Revenue Agency (GST) · currency: CAD
- unsecured creditorsnote: Claims $60,000 for pain and suffering/loss of enjoyment of life and $5,000 for loss of income (components as stated, not summed); arises from alleged slip and fall March 24, 2023; plaintiff has not sought to lift stay of proceedings · page: 14 · basis: Civil Claim filed March 11, 2025 (Amended Amended Amended Civil Claim filed April 15, 2026, naming ECC as a defendant); Receiver's stated position that any claim is an unsecured claim against the ECC estate · debtor: Edmonton City Centre Inc. · creditor: Derrick Kreger-Smith · currency: CAD
- unsecured creditorsnote: General damages of $300,000 sought, plus unquantified special damages, past/future loss of income, past/future medical costs, past/future transportation costs, and past/future loss of capacity to perform housekeeping duties, arising from an alleged elevator incident October 14, 2024; plaintiff has not sought to lift stay of proceedings · page: 15 · basis: Statement of Claim filed May 27, 2026; Receiver's stated position that any claim is an unsecured claim against the ECC estate · amount: 300000 · debtor: Edmonton City Centre Inc. · creditor: Brian Murnaghan · currency: CAD