Alberta · Receivership (court-appointed)
First Report of the Receiver, December 1, 2021
Court officer report · 1 December 2021
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: First-ranking secured creditor; independent legal opinion (Caron & Partners LLP) confirms security valid and enforceable, subject to customary qualifications; Receiver not seeking interim distribution at this time · page: 6 · as of: 2021-05-13 · amount: 6993687 · debtor: P7 Construction Ltd. and 1619904 Alberta Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: PPR registration (Jan 6, 2012) over all present and after-acquired personal property of the Companies; registered mortgage (Dec 20, 2011) over real property of P7
- secured creditorsnote: The $700,000 is the registered mortgage amount, not a stated outstanding balance · page: 6 · debtor: P7 Construction Ltd. and 1619904 Alberta Ltd. · creditor: Agriculture Financial Services Corporation · currency: CAD · security: PPR registration (Jan 5, 2012) over all present and after-acquired personal property; second mortgage on title of the Hotel registered Dec 20, 2011 (registered mortgage amount of $700,000)
- secured creditorsnote: Statutory deemed trust claim over assets of 161 for employee source deductions (portion of total ~$12,820 owed for source deductions) · page: 7 · amount: 9840 · debtor: 1619904 Alberta Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Deemed trust claim absent a concurrent bankruptcy, in respect of GST owed · page: 7 · amount: 4458 · debtor: 1619904 Alberta Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD