Alberta · Receivership (court-appointed)
Receivership Application returnable March 6, 2026
Application / notice of application · 6 March 2026
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What we verified from this filing9 verified
- applicantSpire Pacific Capital Corporation
- commencement date5 March 2026
- courtCOURT OF KING'S BENCH OF ALBERTA
- court file no2603-04944
- appointeeKSV Restructuring Inc.
- appointee rolereceiver and manager
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, and section 13(2) of the Judicature Act, R.S.A. 2000, c. J-2
- secured creditorsnote: Amount is outstanding indebtedness of the Obligors (Borrower and Guarantors) as of March 4, 2026, plus accruing interest, fees, and costs; personal guarantees dated Jan 22, 2025 granted by guarantors Ali Hassan and Mujtaba Syed (individuals, not companies) securing the debt; Syed also granted a Hypothecation of Shares as related-party/director security. · page: 3 · as of: 2026-03-04 · amount: 4208217.63 · debtor: 2597427 Alberta Ltd. · creditor: Spire Pacific Capital Corporation and Computershare Trust Company of Canada (collectively, the Lender) · currency: CAD · security: First mortgage loan facility (maximum amount $4,125,000); Land Titles Act Mortgage and General Assignment of Rents and Leases; Specific Security Agreement (general security interest incl. PMSI); General Assignment of Material Contracts; Assignment of Interest Reserve; Assignment of Insurance; Indemnity Agreement; Hypothecation of Shares (Syed); PPSA financing statements registered against Obligors; Mortgage/GARL registered against Certificates of Title
- secured creditorsnote: Personal guarantor/individual filed a construction lien claim against the debtor's property, constituting a separate default under the Commitment Letter; disputed status not stated but lien claim amount reported as filed. · page: 6 · as of: registration date of Construction Lien (not specified) · amount: 1107750 · debtor: 2597427 Alberta Ltd. · creditor: Ali Hassan (Guarantor) · currency: CAD · security: Construction lien registered against title to the Lands