receiverships in alberta

5 "Ontario Template Order"2), along with current or past commentary developed in respect of those model orders. Bankruptcy - agric.gov.ab.ca Insolvencies in Alberta. For reasons of commonality, practicality and efficiency, BCMIOC considered it appropriate to use the Ontario Order as a starting point for the B.C. We are sad to report that several Alberta properties that have gone into receivership. 1001 Broadview Ave. 10268054 Canada Corp. 1645494 Ontario Limited, 8320373 Canada Ltd., and 2120 Dundas Holdings Inc. 1652563 ALBERTA LTD. 1985301 Alberta Ltd. 2139911 Ontario … Receivership This has resulted in many resource companies becoming insolvent, forced into receivership, or ultimately claiming bankruptcy; 7. What is a Receivership? | PwC Canada FTI Consulting has offices in Alberta and other parts of Canada. Receivership A receiver is responsible for taking possession of and selling the assets on behalf of all stakeholders. CCAA records list - Office of the Superintendent of ... Bumat v Magnum Energy Inc, 2018 ABSRB 115. His practice focusses on security enforcement, bankruptcy, receivership, and restructuring law, and acting as counsel to debtor companies, creditors, purchasers, interim lenders, monitors, receivers and trustees in bankruptcy, receivership and restructuring proceedings. EDMONTON -- An Edmonton dental clinic chain has unexpectedly gone into receivership after it apparently failed to make loan payments. Kourtney Rylands - McMillan LLP in Alberta Edmonton dental clinic chain goes into receivership after ... Calgary 01/12/2021. Abandonments, receiverships, engineering, decommissioning. Roderick J Wood A court has ordered prominent Alberta pulse buyer and processor W.A. What is Receivership? What Does Going into Receivership ... Getting help with filing bankruptcy and achieving debt relief in Calgary is as easy as calling Hudson & Company. A judge has ordered dozens of commercial and residential buildings owned by the Calgary-based company into receivership, rejecting the company’s plan to reorganize under creditor protection. Capital Corp. 2018-07-10: EY Representative: Peter Chisolm 403-206-5061 www.ey.com/ca/OpsMobil www.ey.com/ca/ranchenergy: Kolsy Homes Ltd. And Rivairo Capital … Grantech Engineering International Inc. Favourite. The unpaid employee is a creditor. With expertise in security enforcement, receiverships, reorganizations, bankruptcies and liquidations, Kourtney advises banks, financial institutions, borrowers, court appointed receivers and trustees in bankruptcy in domestic and cross-border security enforcement and restructuring proceedings. Receivership Sale: BDO Canada Limited – Bow River Energy Ltd. On October 29, 2020 BDO Canada Limited was appointed as the receiver and manager (the “Receiver”) of Bow River Energy Ltd. (“Bow River” or the “Company”) pursuant to an Order of the Court of Queen’s Bench of Alberta. Find your closest location and contact us with your business advisory needs. Pulse Solutions placed in receivership In some cases, a receiver may be privately appointed to act on the behalf of one secured creditor. Alberta has run the mall since its purchase in 2014 but has now agreed to place it in receivership with Cordes & Co LLP of Greenwood Village, according to the lawsuit. Sayer Energy Advisors has been engaged to assist PricewaterhouseCoopers Inc., LIT (“PwC”) in its capacity as Court-appointed receiver (the “Receiver”) of SanLing Energy Ltd. (“SanLing” or the “Company”) with the sale of all of the Company’s oil and natural gas properties located in Alberta and British Columbia (the “Properties”). Red Deer’s Black Knight Inn has gone into receivership. Strategic Oil and Gas Ltd., based in Alberta, has wells in the Northwest Territories and has gone into receivership. HUGHSON TRUCKING INC. RECEIVERSHIP AUCTION & TRI-AG IMPLEMENTS SPRING CLEARANCE AUCTION 0. A Receiver may also be appointed in a shareholder dispute to complete a project, liquidate assets or sell a business. Receivership Order"), Alberta (the "Alberta Template Order") and Ontario (the . Receivership Order with the Land Titles Office in Alberta, or in another province or territory as the case may be, notwithstanding certain provincial or territorial statutory requirements. In a move that could mean the end for a construction company behind some of Edmonton’s most iconic projects, Sprague Rosser has gone into receivership in … Private Sale South of Bragg Creek 18 acres Land only, at 762 and east on 162 ave rural Foothills start building your house now ! The Writ authorizes you to collect on your debt by garnishment, seizure of property, or any other method permitted by law. Grain & Pulse Solutions entered receivership as of April 26, 2021. Roderick J Wood is the F.R. A2A RAIL FILES FOR PROTECTION FROM CREDITORS AFTER . Increasingly, court appointed receivers came to be used. Receivership. We are sad to report that several Alberta properties that have gone into receivership. This web page only includes receivership actions that the AHLA is aware of and should not be considered an exhaustive list. If your hotel has gone into receivership, please notify us at 780.436.6112. Situated ideally in some of the most productive farmland in the province. 24, 2020 (the “Fourth Report”), and vesting in the Alberta Purchasers all of the Receiver’s right, title and interest, and all legal and beneficial right, title and interest, in and to the Alberta Subject Assets (as defined below) as set forth herein; AND UPON HAVING READ the Amended and Restated Receivership Order dated February 19, Prior to receivership, the Company had sold and conveyed 20 lots. The territory's oil and … UNRESERVED TIMED ONLINE RECEIVERSHIP AUCTION As authorized by The Bowra Group Inc., Receiver. The Bowra Group Inc. was appointed Receiver Manager (“Receiver”) of Shamrock Valley Enterprises Ltd. (“Shamrock Valley”) pursuant to an Order granted by the Court of Queen’s Bench of Alberta dated July 30, 2021 and stayed until August 27, 2021. Every security agreement spells out how the secured creditor will go about getting his or her money in the case of a default or Business Receiverships and Bankruptcy. Following the administration of the Receivership, the secured creditor sought judgment for the shortfall against the Defendant Daniel Pinder, purs… Once the Writ is filed with the Court of Queen’s Bench, the Writ may then be enforced anywhere in Alberta. Show less. Central Alberta land has been a hot commodity for sometime now. The Receiver completed construction of the development and renamed the development to Westpointe of Windermere (“Westpointe”). 1679775 Alberta Ltd, Reid Worldwide Corporation, Builder's Direct Supply Ltd, Reid Built Homes Calgary Ltd, Reid Investments Ltd, and Reid Capital Corp. Appellants ... Reid-Built was placed in receivership and the Receiver appointed under the BIA by court order on November 2, 2017. Receivership is a form of liquidation governed by Court Orders, the Bankruptcy & Insolvency Act, and Security Agreements with a view to distributing the sale proceeds to the secured creditor. Airdrie: HomeStay Express (July 22, 2020) Airdrie Hampton Inn & Suites (June 16, 2020) Bonnyville: Holiday Inn Express & … all receiverships registered with our office since January 1993 all petitions recorded at our office; and all companies that have been granted protection under the Companies´ Creditors Arrangement Act (CCAA) since September 18, 2009. What is Receivership? When receivership is associated with a consumer bankruptcy, the receiver takes possession of (“receives”) the debtor’s assets, and liquidates/distributes them to the creditors according to rules contained in Canada’s Bankruptcy and Insolvency Act. of Alberta, a copy of which is attached to this Notice as Schedule “A”. Grain owns handling and processing facilities at Bashaw and Bowden, Alta., as well as at Pambrun, Ponteix, and Vanguard in southwest Saskatchewan. The town is situated near the communities of Calgary, Airdrie, Ghost Lake, and Redwood Meadows, and is close to the tourist areas of Banff and Canmore. Posted on April 18, 2019 April 26, 2019 / Brittany Steele — Current. The company also operates a processing plant at Slemon Park, … The Britnell Dental Clinic was one of several to close down after the Core Dental Group went into receivership. The Writ of Enforcement (Writ) is separate from the Court Order. Lana Michelin. EDMONTON -- An Edmonton dental clinic chain has unexpectedly gone into receivership after it apparently failed to make loan payments. Bidding Starts to Close: Monday, March 22, 2021 at 10:00am (MDT) All En Bloc Offers MUST BE Received by March 19, 2021 at 3:00 p.m. (MDT) * Qualified Bidders ONLY. Despite the receivership decision, the real estate developer maintains the end goal remains the same. Notice of Application seeking an Order to Extend Filing a Proposal – August 16, 2019 Information about specific insolvencies, including contact information and materials for court applications, is posted on the following receivers’ websites: BDO Canada; Deloitte; Ernst & Young; Grant Thornton; Hudson & Co; MNP; PwC; Please note that this is not complete listing of every receiver in Alberta. Receivership: 3/5/2018: 101142701 Saskatchewan Ltd. and Cava Secreta Wines and Spirits Limited: Interim Receivership: 5/8/2012: 1320642 Alberta Ltd. Receivership: 3/6/2014: 1721027 Ontario Inc. (o/a Becker Cogeneration Plant) CCAA: 2/2/2016: 1749049 Alberta Ltd. Notice of Intention to Make a Proposal: 2/17/2015: 1905393 Alberta Ltd. Receivership: … Alaska – Alberta Railway Development Corporation Office 833.249.2419 www.a2arail.com. A notice taped to the locked front door of the Black … The RMRF Difference. MNP assists creditors in protecting or liquidating the assets they hold as collateral or operating and selling the business as an ongoing concern vis-à-vis a private or court-appointed receiver. $775,000.00. If you have a question about accessible employment at KPMG, or to begin a confidential conversation about your individual accessibility or accommodation needs through the recruitment process, we encourage you to contact us at cafmcdnhrsthotline@kpmg.ca or phone 416-777-8002 or toll free 1-888-466-4778. Commercial. The receiver also handles such tasks as submitting tax returns on behalf of the debtor. Strategic Oil and Gas Ltd., based in Alberta, has wells in the Northwest Territories and has gone into receivership. Before determining the optimal form of appointment, there are a variety of issues, mechanisms and legislation to consider. The majority of receiverships in Alberta are Court appointed. The Canadian Coyote Company Ltd. New! Abstract. Veracity Energy Services Ltd. is an experienced oil and gas consulting company founded in 1979. In that scenario, materials would be filed in both actions. The Commercial List was established to hear actions, application and motions in Calgary and Edmonton involving issue of commercial insolvency law. administration of the within receivership proceedings. A Receivership is a remedy available to secured creditors to recover amounts outstanding under a secured loan in the event the company defaults on its loan payments. Alaska to Alberta Railway, an Alberta corporation, has obtained creditor protection under a Canadian insolvency statute so that the Company can The use of the receivership has dramatically changed over time. Whereas the bankruptcy and restructuring regimes are legislatively created, receivership law emerged out of English common law. OVER 1,123 Acres of Prime Farmland in Sturgeon County, AB. The Alberta Energy Regulator expects another 6,014 of them in 2021. Alvarez”), where the unanimous Alberta Court of Appeal (the “Alberta CA”) (per curiam) stated: “23 The policy behind receiverships is that collective action is preferable to unilateral action. Justice Douglas Mah of the Court of Queen’s Bench issued the order on April 26 at the request of ATB Financial and appointed BDO Canada as the receiver. The next step for the employee depends on whether he or she is represented by a union. Our intention is to never sit still whilst our product can yet be improved! 2127712 Alberta Ltd., a Cochrane, Alberta-based company, was placed in receivership on August 20 on application by Roynat Inc., owed approximately $2.4 million pursuant to a loan agreement wherein Roynat Inc. agreed to loan $2.6 million to the company for, among other things, the purchase of 590 Griffin Road East, Cochrane, Alberta. An Edmonton judge granted a consent order that will allow a receiver — Alvarez & Marsal Canada — to take control of the assets of several companies associated with ReidBuilt … June 23, 2021 . Veracity Energy is seeking a dynamic and energetic individual to fulfill the responsibilities of a Full time, Intermediate Engineering Technologist, based in Calgary, Alberta. Our "Inception to Retirement" model offers a tailored solution to every client at each stage of the lifecycle. practice or legislation diverged from that in Ontario, and identifying other LLR Program. The hotel has ceased operations after four decades. A receiver means a person who: under the authority of a debenture, bond or other debt security, of a court order or of an act of parliament or of the legislature of a province, is empowered to operate or manage a business or a property of another person. Maybe your looking to increase your current farming operation, looking to sell or just looking for a place you and your family can build on, there is sure to be the right parcel out there for you. WEED ISSUES ON OIL AND GAS SITES IN RURAL ALBERTA WHEREAS: the Province of Alberta has experienced an extended period of economic challenge in the oil and gas industry. Cole v Terra Energy Corp, 2018 ABSRB 114. The Receiver has engaged Sayer Energy Advisors to assist with a sale of all … The Receiver took possession and control of the Pr operty described above on June 24, 2020 and are in the process of working with the Debtor to obtain the books and records of the HomeStay Express. A2A Rail, the corporation pledging to build a $22-billion freight railway connecting Alaska and Alberta, has filed for creditor protection. is appointed by a trustee under a trust deed for a debt security to exercise the authority of the trustee to manage or operate a … UNRESERVED TIMED ONLINE RECEIVERSHIP AUCTION As authorized by The Bowra Group Inc., Receiver. Grain & Pulse Solutions into receivership. The private receivership originally provided the primary vehicle through which a going concern sale of an insolvent commercial entity was undertaken. “The McCoshen-Bridging relationship was one of the alleged problems cited by the Ontario Securities Commission when it asked the court to place Bridging under the control of a receiver. 972482 Alberta Ltd v Topanga Resources Ltd, 2018 ABSRB 112. PRIVATE BANK GOES INTO RECEIVERSHIP. Order Your Customized Alberta Powersnares Online! We routinely deal with all aspects of consumer and commercial insolvencies, including applications for the appointment of receivers and receiver/managers and bankruptcy orders. Gabriel Construction Ltd, Gabriel Construction (Alberta) Ltd and Saskalta Environmental Solutions Inc; Gaddess Industrial Inc. Gamet Resources Ltd; Golden Dragon Ho 10 Inc. and Golden Dragon Ho 11 Inc. Grabhers Last Stand Bison Ranch Ltd; Gradek Energy; Graham Brothers Construction Group Ltd; Grande Cache Coal et al. While not binding, the template order provides important guidance to the judiciary. We Have handled some of the largest insolvencies in Alberta.. Our Team Includes leading practitioners in the area of bankruptcy and insolvency, including recognition from the Best Lawyers in Canada and the Canadian Legal Lexpert Directory.. We Understand the positions and perspectives of creditors, trustees, and insolvent organizations. 18 acres south of Bragg Creek Rural 162 ave & 762. The current economic crisis is challenging all hotels. The following information relates to the receivership: (a) Registered office/address/place of business: 1309497 Alberta Ltd. o/a W.A. Hansen v Rockbridge Energy Alberta Inc, 2018 ABSRB 113. Alberta-based grain and pulse crop buyer W.A. The territory's oil and … Bankruptcy / receivership. One of Alberta's largest homebuilders lost its battle to restructure its debt Thursday and fell into receivership after the Royal Bank of Canada sought to collect more than $64.6 million. Model Receivership Order, making changes where the B.C. 101 Water Street Yarmouth Investments Incorporated. Home Services Bankruptcy, Insolvency and Receiverships We have experience in acting for trustees, receivers and debtors in consumer and commercial insolvency matters. Date Written: October 7, 2010. 5. Receivership sale: Strategic Oil & Gas Ltd. August 24, 2021 7:47 AM BOE Report Staff. Aug. 19, 2020 5:00 p.m. Local News. The Receivership Sale Agreement entitles the AER to certain sale proceeds in exchange for its consent to the transfer of Spyglass’ licensed assets in certain circumstances. W.A. The commercial reality is that without a superpriority for fees and disbursements, receivers will be reluctant to accept future engagements which has adverse consequences. Bankruptcy / receivership. Horvath v PetroGlobe Inc, 2018 ABSRB 117. Typically, the process begins with the appointment of a Receiver either by the secured creditor … Receivership law is different from bankruptcy law and commercial restructuring law in that it is not a creature of statute. Later, restructuring proceedings were employed to conduct going concern sales. On January 28, 2020, the Alberta Court of Queen’s Bench (the “Court”) made an order (the “Receivership Order”) appointing Alvarez & Marsal Canada Inc. (“A&M”) as receiver and manager (“the Receiver”) over all of Strategic Oil & Gas Ltd. ’s and Strategic Transmission Ltd. ’s … There are certain funds remaining in the receivership estate, which the Receiver intends on using to pay outstanding obligations of the receivership estate in the province of Alberta and the estimated costs to complete the administration of the estate. The Company was a real estate developer, developing the 173-lot subdivision in the Windermere area of south-west Edmonton, known as Riverpointe. Please call us today at 403-265-HELP (4357) to schedule a consultation with one of our Licensed Insolvency Trustees. 3. As is typical, the Receivership Order stayed the exercise of “all rights and remedies” against Scollard. OVER 1,123 Acres of Prime Farmland in Sturgeon County, AB. Alberta Tourism Industry Dashboard (Travel Alberta) This dashboard is a comprehensive summary of the most current visitation statistics, trends in the accommodation sector, status of tourism businesses, park attendance, consumer demand, resident sentiment. 8. He is the author of a treatise on Canadian bankruptcy and insolvency law, has co-authored books on secured transactions law in Canada and New Zealand. The Application will be heard on Monday, August 19, 2019 at 2:00 pm at the Law Courts Building in Edmonton, Alberta. In order to best understand how receivership could work for you, it needs to be defined. One way to do this is by appointing a receiver. Grain & Pulse Solutions – Head office 5041-50th Street Innisfail, AB T4G 1T1 (b) Principal line of business: Processor and wholesaler of pulse crops for human and pet food consumption. With its head office at Innisfail, Alta., W.A. When businesses or consumers cannot pay their debts, they may file for bankruptcy or make a proposal (a payment arrangement with their creditors for a percentage of their debts value). 1 The Alberta Template Receivership Order is drafted with a dual style of cause including a Court of Queen’s Bench of Alberta civil action and an associated bankruptcy action to reflect the commonly sought dual appointment under the BIA and the JA. Business Receiverships and Bankruptcy. In a statement released by the Alberta Energy Regulator President and CEO Jim Ellis said "“Lexin and Mr. Smith’s cooperation in the receivership process is a positive development. Kourtney Rylands practises restructuring and insolvency law. If the employer has gone bankrupt, and the employee has a wage claim, the federally legislated BIA dictates how the debts are paid out to its creditors. Simply put, a Receivership is a remedy that is available to secured creditors with the aim of recovering an outstanding sum under a secured loan should a company default on loan payments. Placed under Receivership on 11/19/2019 On 11/19/2019, the Court of Queen's Bench of Alberta placed Eagle Energy Inc. under Receivership pursuant to a Notice of Intention to Enforce Security under subsection 244(1) of the Bankruptcy and Insolvency Act (Canada) filed by the Company's secured lenders. A judge has ordered dozens of commercial and residential buildings owned by the Calgary-based company into receivership, rejecting the company’s plan to reorganize under creditor protection. The Company has filed an Application seeking an Order extending the time in which R.D.E is to file a proposal to their creditors. Strategic Group said 56 of its properties in Alberta are affected. Calgary, Alberta T2P 4B9 Attn: Neil Honess / Joe Sitholé Tel: (403) 691-8014 / (403) 691-8070 neilhoness@kpmg.ca / jsithole@kpmg.ca TORYS LLP 525 - 8th Avenue SW 46th Floor - Eighth Avenue Place East Calgary, Alberta T2P 1G1 Kyle Kashuba Tel: (403) 776-3744 kkashuba@torys.com COM Nov. 12, 2020 Justice Eidsvik 110906 Bridging Finance, which lent McCoshen about $160 million in U.S. dollars for the Alberta to Alaska Railroad, is in receivership and trying to get its money back. The Alberta Court of Appeal dismissed the appeal of three Alberta municipalities in Northern Sunrise County v Virginia Hills Oil Corp, 2019 ABCA 61 (Virginia Hills). (Dick) Matthews Q.C. The receiver maximizes the returns for the benefit of all creditors and streamlines the process of liquidation. Deloitte became the Receiver by virtue of being appointed by Order of the Court of Queen’s Bench of Alberta, a copy of which is attached to this Notice as Schedule “A”. 3. There have been 366 new COVID-19 cases identified in Alberta over the past 24 hours, according to a pandemic update on the provincial … “AFPL” or the “Debtor” – In Receivership On May 17, 2021, FTI Consulting Canada Inc. was appointed as receiver and manager (the “Receiver”) of all the assets, undertakings and properties of the Debtors pursuant to the Order of the Court of Queen’s Bench of Alberta (the “Receivership Order”). 4. Heisler, Alberta, Canada Description: Established in 1925 and renovated in 2015, this 75 seat Pub with seperate 30 seat cafe in front of the commercial kitchen is … Cochrane is located in the southwestern region of the province, close to the Alberta/British Columbia border. Unreserved Timed Online Auction Hughson Trucking Inc. Receivership Auction & Tri-Ag Implements Spring Clearance Auction. On October 29, 2020 BDO Canada Limited was appointed as the receiver and manager (the “Receiver”) of Bow River Energy Ltd. (“Bow River” or the “Company”) pursuant to an Order of the Court of Queen’s Bench of Alberta. 1/16, 5/64, and 3/32 shock locks now available! Supermagnum Release Date. University of Alberta - Faculty of Law. 1 The Alberta Template Receivership Order is drafted with a dual style of cause including a Court of Queen’s Bench of Alberta civil action and an associated bankruptcy action to reflect the commonly sought dual appointment under the BIA and the JA. Employees' rights bankruptcies and receiverships. Bidding Starts to Close: Monday, March 22, 2021 at 10:00am (MDT) All En Bloc Offers MUST BE Received by March 19, 2021 at 3:00 p.m. (MDT) * Qualified Bidders ONLY. Ranch Energy Corporation, OpsMobil Inc., 173163 Alberta Inc., 1859821 Alberta Inc., Air Dallaire Ltd., OpsMobil Group Inc., OpsMobil Construction Inc.,OpsMobil Energy Services Inc., K.L. So, what is Receivership? Primary responsibilities include but are not limited to: Provide operational support for well repairs, abandonments (including SRP), recompletions, pipeline & facility work. - 6 - Laws for Landlords and Tenants in Alberta is a website of the Centre for Public Legal Education Alberta (CPLEA).The site provided information on topics of interest to both landlords and tenants, including statutes, bylaws, personal information, and privacy. Licensed Insolvency Trustees For Bankruptcy In Calgary. The AER is responsible for granting and administering licenses for oil and gas wells, pipelines, and related facilities in Alberta. In that scenario, materials would be filed in both actions. We bring you the #3 … The court order, filed on Thursday, says the receivership process "shall not include any oil or gas wells, pipelines or facilities located within the Province of … Professor of Business Law at the Faculty of Law, University of Alberta. When businesses or consumers cannot pay their debts, they may file for bankruptcy or make a proposal (a payment arrangement with their creditors for a percentage of their debts value). News. Sam is licensed to practice law in Alberta, Saskatchewan and Manitoba. The Alberta template receivership order grants a super-priority to receivers' charges. New! 1717868 Alberta Inc v Fair West Energy Corporation, 2018 ABSRB 116. What is Receivership? The Alberta Court of Queen’s Bench Tuesday approved the addition, which mean the receiver can proceed with the sale of Lexin-licensed assets. Edmonton, Alberta. The following information relates to the receivership: When receivership is associated with a consumer bankruptcy, the receiver takes possession of (“receives”) the debtor’s assets, and liquidates/distributes them to the creditors according to rules contained in Canada’s Bankruptcy and Insolvency Act. developed in Alberta, Saskatchewan, Manitoba and Quebec. The Calgary-based company said the protection will allow it to pursue a court-supervised sale or refinancing of the development stage of the project, after its main lender, Bridging Finance, was placed in receivership in April. The business can be shuttered wherein all, or a portion, of the business’s assets are sold or a business can keep operating and be sold as a going-concern. Dana Nowak and Mandi Deren-Dubéacted as counsel to the secured creditor, who appointed a Receiver over the assets of Twisted Pair in 2016. Red Deer’s Black Knight Inn has shut its doors after 40 years of operation, going into receivership six months into the COVID-19 pandemic. If your wages are a claim provable in bankruptcy or there is a court-appointed receivership and the court has issued a stay of proceedings, the Ministry of Labour, Training and Skills Development is limited in the action it can take under the Employment Standards Act, 2000 (ESA),

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