Alberta · Receivership (court-appointed)
First Report of Proposed Receiver – Filed July 6, 2026
Court officer report · 6 July 2026
Also filed as: First Report of Proposed Receiver – Filed July 6, 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 filing9 verified
- applicantCARLA TREMBLAY in her capacity as executrix of the estate of EDITH GREENE, deceased, and GISELE LEBLANC, and SUSAN VAN ESSEN and TEUNIS (aka TONY) VAN ESSEN and LIFE LEASE HOLDERS and LENDERS UNDER RELATED LOAN AGREEMENTS
- appointeeBDO Canada Limited
- appointee rolePROPOSED RECEIVER
- courtCOURT OF KING’S BENCH OF ALBERTA
- financial positionnote: Liabilities have exceeded assets for the previous five fiscal years, resulting in a negative equity position (approx. -$10.6M at June 30, 2025). Land and buildings are reported at netbook value (~$22.1M); the City of Edmonton's 2026 property tax assessment values the same properties at approximately $33.3M. No independent appraisal was made available to the Proposed Receiver. Annual returns including audited financial statements have not been filed for FYE June 30, 2024 and June 30, 2025 as required under s.26 of the Societies Act. · page: 7 · as at: 2025-06-30 · basis: Unaudited CRA T3010 charity filing data (via CharityData.ca) for FYE June 30, 2025; underlying comparative figures partly drawn from audited financial statements for FYE June 30, 2023 (last audited year available) · scope: Lions Village of Greater Edmonton Society (entity-level, not consolidated) · currency: CAD · total assets: 22045089 · total liabilities: 32693784
- secured creditorsnote: Outstanding balance is an estimate per Note 13 of the Audited Statements; original principal of the two Castledowns mortgages was approximately $1.9 million per the March 30, 2026 Railtown tenant/Board meeting (approximation, not an exact balance). · page: 8 · as of: Note 13, Audited Financial Statements FYE June 30, 2023 · amount: 1100000 · debtor: Lions Village of Greater Edmonton Society · creditor: Addenda Capital Inc. · currency: CAD · security: First-in-time mortgages registered against Castledowns Phase I and Castledowns Phase II
- secured creditorsnote: Amount is the registered mortgage amount per land title search, shown in the Proposed Receiver's table as 'Secured Debt'; not confirmed as an audited outstanding balance. Per Note 12 of the Audited Statements, tenant Life Lease deposits are secured by these mortgages, making the underlying Life Lease tenants the true secured creditors, with UMC as trustee/mortgagee (terminated as trustee January 2026). · page: 8 · amount: 30000000 · debtor: Lions Village of Greater Edmonton Society · creditor: UMC Financial Management Inc. (as trustee/mortgagee for Life Lease holders/tenants) · currency: CAD · security: Second-in-time mortgage registered against Castledowns securing Life Lease deposits
- secured creditorsnote: Amount is the registered mortgage amount per land title search, shown in the Proposed Receiver's table as 'Secured Debt'; not confirmed as an audited outstanding balance. Life Lease tenants are the underlying secured creditors per Note 12 of Audited Statements; UMC held mortgage as trustee (terminated January 2026). · page: 9 · amount: 28000000 · debtor: Lions Village of Greater Edmonton Society · creditor: UMC Financial Management Inc. (as trustee/mortgagee for Life Lease holders/tenants) · currency: CAD · security: Second-in-time mortgage registered against Riverside securing Life Lease deposits
- secured creditorsnote: Amount is the registered mortgage amount per land title search, shown in the Proposed Receiver's table as 'Secured Debt'; not confirmed as an audited outstanding balance. Life Lease tenants are the underlying secured creditors per Note 12 of Audited Statements; UMC held mortgage as trustee (terminated January 2026). · page: 9 · amount: 13000000 · debtor: Lions Village of Greater Edmonton Society · creditor: UMC Financial Management Inc. (as trustee/mortgagee for Life Lease holders/tenants) · currency: CAD · security: Second-in-time mortgage registered against Railtown securing Life Lease deposits