Alberta · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 5 January 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 filing4 verified
- secured creditorsnote: Approximate figure stated in prose ('approximately $15.5 million'), plus interest and costs continuing to accrue; four term loans under various Loan Agreements · page: 6 · as of: Receivership Date (December 8, 2025) · amount: 15500000 · debtor: Light Speed Holdings Inc. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: First-in-time mortgages against the Facility and lands (dated February 7, 2018 and August 28, 2018); General Security Agreements over all present and after-acquired personal property of LSH (LSH GSA, dated February 7, 2018) and LSL (LSL GSA, dated February 7, 2018)
- secured creditorsnote: Referenced as holder of separate receivership order (CIBC Receivership Order); GT is receiver; amount not stated in this document · page: 10 · debtor: Light Speed Logistics Inc. · creditor: Canadian Imperial Bank of Commerce (CIBC) · currency: CAD
- secured creditorsnote: Referenced as holder of separate receivership order with Ernst & Young Inc. appointed as receiver; amount not stated in this document · page: 10 · debtor: Light Speed Logistics Inc. · creditor: National Bank of Canada · currency: CAD
- secured creditorsnote: Part of total $500,000 authorized borrowing under the BDC Receivership Order; interest at BMO Prime Rate plus 3.00% · page: 14 · as of: 2025-12-09 · amount: 100000 · debtor: Light Speed Logistics Inc. and Light Speed Holdings Inc. · creditor: Business Development Bank of Canada (BDC) - as Receiver's Certificate holder · currency: CAD · security: Receiver's Certificate No. 1 - fixed and specific charge over the Property, in priority to all security interests, trusts, liens, charges and encumbrances, statutory or otherwise, but subordinate to the Receiver's Borrowing Charge and BIA sections 14.06(7), 81.4(4) and 81.6(2)