Alberta · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 12 February 2024
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 filing10 verified
- applicantFREDRICK NORTH, FRED NORTH TRUST, TEMOR HOLDINGS LIMITED PARTNERSHIP by its general partner TEMOR HOLDINGS LTD., and TEMOR HOLDINGS LTD.
- appointeeErnst & Young Inc.
- courtCOURT OF KING’S BENCH OF ALBERTA
- court file no2303 04003
- appointee roleReceiver
- commencement date3 March 2023
- statutory basissection 243 of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3
- secured creditorsnote: Individual/applicant in the proceeding, described as a primary economic stakeholder of OMEI along with Cornerstone and PCCU; North is also separately the largest unsecured creditor of OMEI, holding nearly 100% of total estimated unsecured liabilities; no amount stated for the secured advances · page: 5 · debtor: Osoyoos Mountain Estates Inc. · creditor: Fredrick North · currency: CAD · security: Security obtained with respect to advances made by North to fund payment of the professional fees of the Receiver and its legal counsel
- secured creditorsnote: No amount stated; Receiver has not reviewed validity of security as no distribution to PCCU is contemplated from real property sale proceeds · page: 6 · debtor: Osoyoos Mountain Estates Inc. · creditor: Prairie Centre Credit Union (PCCU) · currency: CAD · security: Registered security over seven of the OMEI Properties ("PCCU Property"), described in Schedule 'C' of the OMEI Receivership Order
- secured creditorsnote: No amount stated; Receiver has not reviewed validity of security as no distribution to Cornerstone is contemplated from real property sale proceeds · page: 6 · debtor: Osoyoos Mountain Estates Inc. · creditor: Cornerstone Credit Union · currency: CAD · security: Registered security over two of the OMEI Properties ("Cornerstone Property"), described in Schedule 'C' of the OMEI Receivership Order