Saskatchewan · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 10 July 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 filing6 verified
- secured creditorsnote: Disputed by Goshen; ongoing builder's lien litigation (pre-trial date Feb 14, 2024). Not listed in the Receiver's January 2024 Notice and Statement of security holders; disclosed in the First Report (page 8). · page: 8 · as of: 2019-05-14 · amount: 416128.65 · debtor: Goshen Professional Care Inc. · creditor: Westridge Construction Ltd. · currency: CAD · security: Builder's lien registered against the Care Home on May 14, 2019 ("Westridge Lien")
- financial positionnote: The Notice and Statement of the Receiver (Schedule 2) explicitly states both the asset total and the secured-creditor liability total as '$unknown' rather than providing a computed total. Components disclosed: Real Property, Chattels & Equipment $14,621,413 (NBV, Feb 28, 2023 draft financials); Inventory - unknown; Accounts Receivable - unknown; secured creditors - CWB $12,560,578 (est., Sept 30, 2023 payout statement), CRA $1.00 (unknown), SHA $1.00 (unknown), RM of Edenwold No. 158 $101,737.31; other unsecured creditors per attached Exhibit 'A' (not reviewed in provided pages). · page: 17 · basis: Real Property, Chattels and Equipment value based on net book value from February 28, 2023 draft (unaudited) year-end financial statements; Inventory and Accounts Receivable values unknown (debtor did not provide information); secured creditor amounts are Receiver's estimates as of the Notice and Statement date (January 18, 2024), with CWB based on a September 30, 2023 payout statement and CRA/SHA reflected at a nominal $1.00 placeholder where unknown · scope: Goshen Professional Care Inc. (single entity) · currency: CAD
- secured creditorsnote: Amount unknown; Notice and Statement of Receiver (Jan 18, 2024) used a $1.00 placeholder for unknown amounts. First Report (page 9) states there does not appear to be any material amounts owing to CRA and Receiver is not aware of any significant CRA balances as of June 26, 2024 (CRA has not completed a payroll source deduction trust exam). · page: 17 · debtor: Goshen Professional Care Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Listed by Receiver as a creditor holding a security interest in the property (nature of registration not otherwise specified in reviewed pages); likely deemed-trust class (payroll source deductions)
- secured creditorsnote: Amount per Receiver's Notice and Statement (Jan 18, 2024), based on September 30, 2023 payout statement — pre-filing balance. A later, post-filing balance of $12,951,346.23 as of June 26, 2024 (inclusive of accrued interest and costs) is stated in the First Report (page 8); Receiver's counsel opines CWB holds a valid and enforceable first charge over Goshen's assets (page 8). · page: 17 · as of: 2023-09-30 · amount: 12560578 · debtor: Goshen Professional Care Inc. · creditor: Canadian Western Bank (CWB) · currency: CAD · security: General Security Agreement (GSA) registered May 31, 2017 on the Personal Property Registry; mortgage security registered against the Care Home (77 Aspen Village Drive) May 29, 2017
- secured creditorsnote: Amount per Receiver's Notice and Statement (Jan 18, 2024) — pre-filing estimate. A later property tax statement as at July 2, 2024 shows a much lower balance of $8,828.59 (post-filing, First Report page 8), suggesting partial payment/reassessment during receivership. · page: 17 · as of: NOI/receivership commencement estimate (Notice and Statement dated January 18, 2024) · amount: 101737.31 · debtor: Goshen Professional Care Inc. · creditor: RM of Edenwold No. 158 · currency: CAD · security: Municipal property tax lien
- secured creditorsnote: Balance owed to SHA is unknown; Notice and Statement of Receiver (Jan 18, 2024) used a $1.00 placeholder for the unknown amount; First Report (page 8) states the Receiver 'is not aware of any balances owed to the SHA.' SHA is also the successful bidder to purchase the Care Home in the receivership sale process — Goshen's counsel alleges a conflict of interest (pages 6-8). · page: 17 · debtor: Goshen Professional Care Inc. · creditor: Saskatchewan Health Authority (SHA) · currency: CAD · security: Secured interest registered on PPR December 20, 2022 over certain equipment including hospital beds and related equipment