Alberta · Receivership (court-appointed)
Trustee's First Report to the Court
Court officer report · 19 October 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 filing8 verified
- unsecured creditorsnote: Claim stated as of the date of bankruptcy (the Form refers to indebtedness as of 19 Feb 2025; the assignment into bankruptcy was March 5, 2025). Trustee PARTIALLY DISALLOWED the claim by Form 77 dated May 19, 2026: $1,189,575.26 disallowed, $660,005.74 allowed (loans per agreements dated Jan 12 and Jan 20, 2023, with interest to date of bankruptcy). Disallowed portion relates to the Dec 13, 2022 Loan Agreement under which monies were advanced to Judy Chen (sole shareholder) for personal use; Bankrupt not a party. Claimant has appealed under s. 135(4) BIA; claim is DISPUTED. Proof of claim is an assertion, not an adjudicated amount. · page: 6 · as of: 2025-03-05 · basis: Proof of Claim (Form 31) dated May 10, 2025, claimed as unsecured; creditor's own asserted claim per Schedule A (8% nominal annual rate, monthly compounding; loans of $1,000,015.00 on 12/15/2022, $110,790.00 on 01/12/2023, $447,936.95 on 01/20/2023, with a $1,678,575.04 payment entry dated 07/20/2025) · amount: 1849581 · debtor: Jasper Summerlea Shopping Center Ltd. · creditor: Ao Mio Leong · currency: CAD
- secured creditorsnote: Per title certificate dated 2024-04-10; outstanding balance not stated in these pages. Subordination (postponement) recorded. · page: 179 · debtor: Jasper Summerlea Shopping Center Ltd. · creditor: 1756282 Alberta Ltd. and West Edmonton Truckland Ltd. (joint mortgagees) · currency: CAD · security: Mortgage 222 121 335 registered 28/05/2022, original principal amount $5,700,000 (registered principal, not a balance). Postponed to KV Capital mortgage 232 022 511 by postponement 232 121 494 (18/04/2023).
- secured creditorsnote: Per title certificate dated 2024-04-10; outstanding balance not stated. Company ledger records a 'Construction Loan - KV Capital' account. · page: 179 · debtor: Jasper Summerlea Shopping Center Ltd. · creditor: KV Capital Inc. · currency: CAD · security: Mortgage 232 022 511 registered 20/01/2023, original principal amount $6,500,000 (registered principal, not a balance); with caveat 232 022 512 re assignment of rents and leases. Ranks ahead of mortgages 222 121 335 and 222 201 087 by postponement.
- secured creditorsnote: Per title certificate dated 2024-04-10; outstanding balance not stated. Subordination (postponement) recorded. · page: 179 · debtor: Jasper Summerlea Shopping Center Ltd. · creditor: West Edmonton Truckland Ltd. · currency: CAD · security: Mortgage 222 201 087 registered 10/09/2022, original principal amount $1,500,000 (registered principal, not a balance). Postponed to KV Capital mortgage 232 022 511 by postponement 232 121 493 (18/04/2023).
- secured creditorsnote: Ao Mio Leong filed her proof of claim as UNSECURED ($1,849,581.00), not as a secured claim. The Trustee partially disallowed the claim ($1,189,575.26 disallowed; $660,005.74 allowed), reasoning the Bankrupt received no consideration for its covenant under the Mortgage for the amounts advanced to Judy Chen. The validity of the Mortgage as security for the disallowed portion is therefore in dispute (appeal under s. 135(4) BIA). · page: 183 · debtor: Jasper Summerlea Shopping Center Ltd. · creditor: Ao Mio Leong · currency: CAD · security: Mortgage, Instrument No. 232 287 272, registered 21/09/2023; original principal amount $1,500,000 (a registered principal, not a balance)
- operational summaryThe report does not describe the debtor's operations; it sets out the record on which the Trustee partially disallowed Ao Mio Leong's proof of claim (the disallowed amount was advanced to the sole shareholder personally, not to the bankrupt), which Ms. Ao has appealed under s. 135(4) of the BIA.
- report date19 October 2026
- report noFirst Report