Alberta · Receivership (court-appointed)
First Report of the Receiver - Westmount Projects Inc.
Court officer report · 29 June 2023
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 filing4 verified
- secured creditorsnote: Approximate figure; described as primary secured lender/creditor of the Mortgaged Property and Serial Number Property · page: 4 · as of: Date of Receivership (May 15, 2023) · amount: 2700000 · debtor: Westmount Projects Inc. · creditor: Bank of Montreal (BMO) · currency: CAD · security: Various registered security over the Mortgaged Property and Serial Number Property
- secured creditorsnote: Amount not stated in document · page: 5 · debtor: Westmount Projects Inc. · creditor: Horizon Capital Corporation · currency: CAD · security: Registered security over the Mortgaged Property
- secured creditorsnote: Related party: entity associated with Gordon Anderson, sole owner of Westmount Projects Inc., and is also a named co-defendant in these proceedings; amount not stated · page: 5 · debtor: Westmount Projects Inc. · creditor: Anderson & Associates Financial Corp. · currency: CAD · security: Registered security over the Mortgaged Property
- secured creditorsnote: Deemed trust class (CRA Debts); comprises unremitted source deduction arrears of approximately $13,000 and outstanding GST of approximately $266,000 (do not sum per component reporting); CRA advised all payroll and GST audits will be scheduled directly with the Debtor and additional liabilities may be assessed; reflects operations of all 17 Westmount properties, not solely the Mortgaged Property; Receiver unable to allocate portion to Mortgaged Property · page: 8 · debtor: Westmount Projects Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD