EzTix Event Ticketing Inc., a Vancouver, British Columbia-based company that provides ticketing solutions to event organizers around the world, filed an NOI on November 30 and a proposal to its creditors on December 29. Dundas Retirement Place Inc., Maple Retirement Homes Inc., and 1059244 Ontario Inc. It does, however, deviate. November 19, 2020 853405 Alberta Ltd. 853405 Alberta Ltd., which operated a fitness centre under the name “Peak Physique Gym and Fitness Centre” in the Town of St. Paul, Alberta, was adjudged bankrupt on November 18, 2020, on joint application by ATB Financial (“ATB”) and Servus Credit Union Ltd. Below is a list of all companies that have been granted protection under the Companies' Creditors Arrangement Act (CCAA) since September 18, 2009.The CCAA is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. October 2020 Bankruptcy Statistics- State and District. More recently, global oil and natural gas markets and pricing have suffered precipitous declines as a result of extreme oversupply and an unprecedented drop in demand as a result of COVID-19. In a decision made by former management in December 2019, the company's brewing production ceased and all of its employees were terminated. This problem will persist for a long time and will become the new normal. from the trend in other provinces, so it is worth. Starting in the first quarter of 2020, the sole marketer of the bitumen produced at the companies' facility failed to make payment on over 300,000 barrels of bitumen that the companies had produced. Schwartz Levitsky Feldman is the bankruptcy trustee. Counsel is Burnet, Duckworth & Palmer for the applicant, DLA Piper for the company and MLT Aikins for the receiver. For details about a particular record, click on the company name. During the past 40 years in Alberta we have seen our share of the boom and bust cycle related to the price of oil and other economic factors. Cambridge Group Inc. (the "Group"), which is comprised of three boutique health clubs in downtown Toronto — the Cambridge Club, the Adelaide Club and the Toronto Athletic Club — obtained protection under the CCAA on December 11, listing approximately $7.0 million in liabilities, including $2.0 million to BNS. 853405 Alberta Ltd., which operated a fitness centre under the name “Peak Physique Gym and Fitness Centre” in the Town of St. Paul, Alberta, was adjudged bankrupt on November 18, 2020, on joint application by ATB Financial (“ATB”) and Servus Credit Union Ltd. On March 29, 2019, ATB commenced foreclosure proceedings in the Court of Queen’s Bench of Alberta against the company for failure to pay the indebtedness owed to ATB. During the mandated closures, the Swimco Group's only source of revenue was from its online sales. Debt Control 2. On December 6, 2019, real property and certain personal property owned by the company were sold in the foreclosure action and proceeds from the sale of the Lands were applied to ATB’s indebtedness. Swimco Aquatic Supplies Ltd. and Swimco Partnership (collectively, the "Swimco Group"), a Calgary, Alberta-based swimwear and clothing retailer, was deemed bankrupt on October 10 after the companies failed to make a viable proposal to their creditors. What does all this mean to individuals regarding Personal Bankruptcy in Alberta? Since March, the three clubs have remained temporarily closed. 3/27/2020: Cobalt Energy Services Ltd. and 1592809 Alberta Ltd. Receivership / Bankruptcy: 4/24/2015: Col Sel Transit Inc. CCAA: 2/3/2020: Compagnie de Gestion M.D.J. MNP was appointed receiver and manager. To our fellow Albertans: Cawston and Associates Inc. is a family company. The number of Canadian bankruptcies decreased by 18.3% over the same time period. BANKRUPTCY AND INSOLVENCY ACT Form 87 Notice and Statement of the Receiver (Subsections 245(1) and 246(1) of the Act) IN THE MATTER OF THE RECEIVERSHIP OF 1356760 ALBERTA LTD. However, one should not underestimate the impact that consumer education has on lowering of the bankruptcy rate. Mr. Manjoo Logistics Ltd., a Hamilton, Ontario-based company, filed for bankruptcy on December 21, 2020, listing approximately $99.6 thousand in liabilities and $26.0 thousand in assets. Home Trust has lost trust in the ability of the company's management to develop and implement a plan to repay its indebtedness, especially given the alleged illegal wrongdoings of the company's principal, Moninder Khundal, and his associates. The Bowra Group Inc. was appointed trustee in bankruptcy. The company agreed that Home Trust would have the right to seek the appointment of a receiver upon default under the terms and conditions of the mortgage. Grant Thornton was appointed Monitor. During 2019, the number of filings for personal bankruptcy totaled a little over 400 per month on average. By failing to keep up with their loan obligations, the companies defaulted under these agreements. Fuller Landau was appointed receiver and manager. Dundas Retirement Place Inc., Maple Retirement Homes Inc., and 1059244 Ontario Inc., which each own and operate a retirement residence in Hamilton, Ontario, were placed in receivership on December 23 on application by Buduchnist Credit Union Limited ("BCU"), owed approximately $10.1 million in total. EY was appointed monitor. As such, BMO has significant concerns regarding the stability of its security and has lost confidence in the companies to repay their indebtedness. "At some point, they’ll run out and personal bankruptcies will surge.” In the meantime, Altman believes corporate bankruptcy filings will continue to … Debt Control What is a creditor? As such, BMO has significant concerns regarding the stability of its security and has lost confidence in the companies to repay their indebtedness. liquidity. Albert Gelman is the proposal trustee. Each of the companies defaulted on its obligations to BCU and the defaults continue. The company ceased operations in February 2020 as a result of the foreclosure action and sale of the company’s real and personal property. There were 14,696 consumer insolvencies filed in the province over the 12 months ending in January, a figure that includes both bankruptcies and consumer proposals. Our family was born and raised in Alberta. In addition, various assets of the companies were seized in 2020 on the basis of a security interest and landlord distress. This piece of legislation provides you the ability to protect the following assets: Food required by you and your dependents during the next 12 months. Companies under creditor protection A list of companies that have been granted protection under the Companies' Creditors Arrangement Act . The biggest oil and gas bankruptcy of the year--indeed, the biggest since 2016--was EP Energy, which filed for bankruptcy in October, unable to pay back some $5 billion in debt. Pages in category "Companies that filed for Chapter 11 bankruptcy in 2020" The following 105 pages are in this category, out of 105 total. Litwin Boyadjian is the proposal trustee. A creditor is someone you owe money to, such as a … MNP was appointed receiver. Bankruptcies in Canada decreased to 165 Companies in November from 178 Companies in October of 2020. It is forecasted that the Group will not have sufficient funds after January 4, 2020 and, as such, will not be able to make the term loan payment to BNS due in January. Applicant: Buduchnist Credit Union Limited ("BCU"). The property exempt from seizure applies to the equity in the asset. Main Menu. Contact one now. However, that revenue was insufficient to pay ongoing lease obligations or to service Swimco Group's long-term debt. If you file for bankruptcy in Canada, you are allowed to keep a portion of your income each month. Currently, Glenogle requires the stability of the CCAA proceedings to carry out its SISP in a manner that will maximize value as part of its proposal. Ellis Fabrication Inc. et al., an Innisfail, Alberta-based company that manufactures heavy machinery attachments and trench safety systems, was placed into receivership on December 3 on application by TD, owed approximately $5.7M. On May 29, 2020 Boulder Creek Golf Course Limited Partnership was assigned into bankruptcy and PricewaterhouseCoopers Inc., LIT was named as Trustee. Counsel is Field Law for Swimco Group and Cassels for the proposal trustee. These numbers dropped at the start of 2020 indicating that Albertans are finding more success with other debt solutions such as debt settlement programs that are available to the public. Greenfire Oil and Gas Ltd. and Greenfire Hangingstone Operating Corporation, Calgary, Alberta-based energy technology companies focused on the development of in-situ oil sands projects, filed NOIs on October 8, respectively listing $8.3 million and $17.8 million in liabilities. The Swimco Group lists approximately $8.8 million in liabilities, including $1.2 million to Steve Forseth Enterprises. A list of the biggest companies that have filed for bankruptcy during the coronavirus pandemic, ranked by assets. In addition to financial difficulties resulting from the COVID-19 pandemic, the Group is currently facing litigation and threats of litigation. In addition, the companies' strategic process has been complicated by the public health emergency caused by COVID-19. Studio Black Suede Inc., a Montreal, Quebec-based premium footwear brand, filed an NOI on December 24, 2020 owing approximately $434.0 thousand to CIBC. September 2020 Bankruptcy Statistics- State and District. Alberta British Columbia ... bankruptcies will continue to rise into 2020 and possibly beyond, said CAIRP chair Chantal Gingras. Norton Rose Fulbright has announced a round of promotions which includes Aaron Stephenson of the firm’s insolvency practice in Calgary being promoted to partner. Albert Gelman Inc. is the bankruptcy trustee. Counsel is Miller Thomson for the Group, Cassels Brock for the Monitor, and Harrison Pensa for BNS. 2020 is a time of unprecedented financial crisis. The company lists approximately $1.1 million in liabilities. This list may not reflect recent changes (). Many Albertans face insolvency in the coming months. Gary Cerrato, David Lewis and Matthew Marchand have been promoted to partners at BDO. PUBLISHED - Dec 4, 2020 The number of Alberta business bankruptcies in October 2020 decreased by 26.7% from the same period a year ago, from 15 to 11. Bankruptcies in Canada averaged 362.22 Companies from 2004 until 2020, reaching an all time high of 872 Companies in March of 2004 and a record low of 108 Companies in April of 2020. Counsel is WeirFoulds for the proposal trustee and Keyser Mason Ball for the company. KPMG was appointed receiver. Glenogle previously commenced NOI proceedings on May 14. The Bowra Group was appointed receiver. Dentons is counsel to the applicant. In addition, various assets of the companies were seized in 2020 on the basis of a security interest and landlord distress. Schwartz Levitsky Feldman is the bankruptcy trustee. Home; About; Listing; Services; Contact Us; Register; recent canadian bankruptcies 2020 Sign up for the newsletter and get the latest insolvency news. McEown and Associates is the proposal trustee. McMillan is counsel to the applicant. Bankruptcies can be volatile from month to month, so this could turn around. By failing to keep up with their loan obligations, the companies defaulted under these agreements. If you earn over this limit, you are required to contribute half of that surplus income into your bankruptcy estate, and it is distributed to your creditors. In November, there were 15 bankruptcies, an increase of 50% versus this time last year. 2020 Insolvency Statistics for 2020 Insolvency Statistics in Canada—Monthly Reports. October 2020 Bankruptcy Statistics- Commercial Filings. On the 28th day of May, 2020, the undersigned, KPMG Inc., became the receiv er and manager (the Clothing up to a value of $4, 000. November 2020 Bankruptcy Statistics- State and District. Fossil Water Corporation, a Calgary, Alberta-based company that provides water treatment consulting services and supplies custom-built modular water treatment systems primarily for the oil and gas industry, was adjudged bankrupt on November 19 on application by RBC, owed approximately $585.5 thousand. 1075397 Alberta Ltd., which owns certain real property in Alberta, had its property placed under receivership on October 27 on application by Panterra Mortgage & Financial Corporation ("Panterra"), owed approximately $3.6 million. Options Besides Declaring Bankruptcy 3. Yoga Centre Toronto, a Toronto, Ontario-based not-for-profit yoga centre, filed for bankruptcy on December 23 after its revenue decreased significantly due to the COVID-19 pandemic and, consequently, the centre could not sustain payment of debts related to the financing of leasehold improvements at its studio and other debts. The Bowra Group was appointed receiver. The Bowra Group is the bankruptcy trustee. Geoff was previously with Waygard Capital. Kalco Farms Ltd. ("Farms"), a Gibbons, Alberta-based farm which produces and markets cereal grains such as wheat, barley, and rye, along with Kalco Investments Ltd. ("Investments"), were placed in receivership on January 14 on application by BMO, owed approximately $5.0 million from Farms and $11.2 million from Investments. Status of File as of May 29, 2020 . Counsel is Cassels for the applicant and Miles Davison for the company. Alvarez & Marsal is the proposal trustee. 2335779 Ontario Inc., a Mississauga, Ontario-based company which owns and oversees the development of residential real estate, had its interest in real property located at 78 Trafalgar Road, Oakville, Ontario, placed under receivership on December 17 on application by Home Trust Company ("Home Trust"), owed approximately $2.3 million. Subsequently, the brewery business, including inventory and the company's goodwill, was listed for sale and the new management pursued leads on potential purchasers or investors. View Case Details On a macroeconomic level, the number of bankruptcies filed each year in Canada has been declining since a peak level of 152,000 in 2009. Coulee Craft Brewing Corp., a Lethbridge, Alberta-based craft brewery company with a 16,000 sq. Estate Administrator – Sydney, Nova Scotia, Senior Consultant, Restructuring & Turnaround. 1. A list of all bankruptcies and proposals filed in Canada. The company was no longer operating at the time of the receivership. Counsel is MLT Aikins for the applicant, Burnet, Duckworth & Palmer for the receiver, and Caron & Partners for the company. bankruptcies in Alberta, despite programs to support. Like other oil and gas businesses, the company has suffered due to the global collapse in commodity prices. Inc. Notice of Intention to Make a Proposal: 10/21/2013: Condominium Plan No. Mr. Manjoo Logistics Ltd., a Hamilton, Ontario-based company, filed for bankruptcy on December 21, 2020, listing approximately $99.6 thousand in liabilities and $26.0 thousand in assets. Deloitte is the proposal trustee. Although the companies appear to have sufficient funds to make payments to BCU, payments are not being made and BCU has no visibility into what the funds are being used for. A copy of the Notice and Proof of Claim may be accessed under the "Bankruptcy" tab of this website. Swimco Aquatic Supplies Ltd. and Swimco Partnership (collectively, the “Swimco Group”), Greenfire Oil and Gas Ltd. and Greenfire Hangingstone Operating Corporation, Glenogle Energy Inc. and Glenogle Energy Limited Partnership (collectively, “Glenogle”). In the 25 years from 1980 to 2005, personal bankruptcy filings rose significantly. The companies had granted security in favour of BMO, including, among other things, general security agreements securing all of the companies' real and personal property and mortgages in relation to lands owned by the companies. However, due to the COVID-19 pandemic, the company was unable to secure a firm offer before BMO's receivership application was scheduled. January 2020; February 2020; March 2020; April 2020; May 2020; June 2020 TORONTO -- The latest data shows that Canadians are filing the highest number of personal insolvencies in a decade. Alberta Bankruptcy Exempt Assets. Each year the Office of the Superintendent of Bankruptcy increases these limits to account for inflation. Bankruptcies went up fast, though there were periods where filings dropped for a few years. Kalco Farms Ltd. ("Farms"), a Gibbons, Alberta-based farm which produces and markets cereal grains such as wheat, barley, and rye, along with Kalco Investments Ltd. ("Investments"), were placed in receivership on January 14 on application by BMO, owed approximately $5.0 million from Farms and $11.2 million from Investments. Gowling WLG is counsel to the applicant. This resulted in a severe working capital and liquidity shortage, leading to the termination of all employees in May 2020. Grant Thornton was appointed receiver. In April 2020, the company defaulted on its payments under the mortgage and in June 2020, Home Trust demanded repayment of the indebtedness in full. In 2015 and 2016, Home Trust extended a mortgage loan in favour of the company and obtained a $5.1 million charge against the Oakville property as security for the loan. November 2020 Bankruptcy Statistics- Commercial Filings. Counsel is Keyser Mason Ball for the applicant and Brown Law for the companies. That is a 13.5% increase from the previous year. Dentons is counsel to the applicant. Grant Thornton is the bankruptcy trustee. Panterra alleges that a sale of the property will generate insufficient value to repay the indebtedness and it will suffer a shortfall from the enforcement of the company's mortgage. Destiny Organics Inc., a Nisku, Alberta-based organic fertilizer and living soil company, filed for bankruptcy on January 4, listing approximately $647.6 thousand in liabilities and $112.4 thousand in assets. The company was no longer operating at the time of the receivership. The Receiver gives notice and declares that: 1. Studies show that many people who qualify for bankruptcy are instead choosing to file a consumer proposal after learning about it as a debt relief optio… The Bowra Group is the bankruptcy trustee. Grant Thornton Limited is pleased to announce that Rob Stelzer has joined the partnership effective January 1, 2021. Bankruptcy is a legal process by which you may be discharged from most of your debts.Its purpose is to permit an honest, but unfortunate debtor to obtain a discharge … The company is a wholly-owned subsidiary of Destiny Bioscience Global Corp., a cannabis genetics and tissue culture research and development company, which (along with various other subsidiaries) was placed in receivership on May 22 on application by Synergy Projects (Destiny) Ltd. and Synergy Projects Ltd. The company was founded in the 1980s and grew into an integrator of Unified Communications and Contact Centre solutions concentrating in Avaya premise-based systems. To date, no payments have been made to Home Trust and it appears that the company has not made any attempts to refinance the indebtedness or sell the Oakville property. 1. ft. brewing facility including a full-sized brewpub, was placed in receivership on October 13 on application by BMO, owed approximately $887.9 thousand. Ayman Chaaban was promoted to partner at Raymond Chabot Grant Thornton in Montreal on January 1. During these proceedings, HSBC will be providing up to $2.6 million in DIP financing. As such, the appointment of a receiver and manager over the property is required in order to protect Panterra's interests. Here is a closer look at the major retail bankruptcies of 2020 so far. Status of the File as at May 25, 2020 Despite re-opening its stores in late May, sales revenues have not returned to their normal levels and the Swimco Group became unable to meet its payment obligations to various creditors. retailers have filed for bankruptcy in 2020 so far: Select a retailer to learn more about their bankruptcy. The company has ceased to meet its liabilities as they become due as the indebtedness to RBC remains entirely unpaid and there appear to be multiple outstanding judgments registered against the company. Improving worldwide economic conditions are probably the most significant reasons for the shift. The company is a wholly-owned subsidiary of Destiny Bioscience Global Corp., a cannabis genetics and tissue culture research and development company, which (along with various other subsidiaries) was placed in receivership on May 22 on application by Synergy Projects (Destiny) Ltd. and Synergy Projects Ltd. The companies had granted security in favour of BMO, including, among other things, general security agreements securing all of the companies' real and personal property and mortgages in relation to lands owned by the companies. These agreements allow and provide for the appointment of a receiver or a receiver and manager upon default in respect of obligations owed to BMO. Alberta bankruptcy exemptions or assets you keep in a bankruptcy or a proposal are set by the Alberta government and are the most generous exemptions in Canada. AUGUST 6, 2020 – Calgary, AB – With the ever-growing list of businesses filing for bankruptcy, it’s only a matter of time before the number of personal bankruptcies jump to record levels. Alberta Personal Bankruptcy on the Rise. Despite sweeping cost cutting measures, the elimination of a substantial portion of the Group's revenue for almost nine months has resulted in a financial strain that cannot continue on the current path. Glenogle Energy Inc. and Glenogle Energy Limited Partnership (collectively, "Glenogle"), a Calgary, Alberta-based oil and gas exploration and production company, obtained protection under the CCAA on September 8, listing approximately $72.6 million in liabilities, including $51.0 million to HSBC. For the period from March to August, the Group's revenues were approximately 83% below projected revenues for that period. Remember, you should only consider declaring personal bankruptcy when you’re totally out of less drastic options. Consumer bankruptcies in Alberta decreased by 34.4%, from 486 in October 2019 to 319 in October 2020. Brant Telephone Inc., a Burlington, Ontario-based telecommunications interconnect company, filed an NOI on December 11, 2020 and a proposal to its creditors on January 6, 2021. Declaring Bankruptcy To find out what your options are if you are facing financial difficulties, visit CPLEA’s Help with Debt for Albertans. Fortunately, there are … The immediate appointment of a receiver will provide necessary stability, transparency, and oversight in the sale of the Oakville property. Applicant: Home Trust Company ("Home Trust"). Counsel is Burnet, Duckworth & Palmer for the companies, McMillan for the proposal trustee and Blakes for secured lender, Summit Partners. Bankruptcy filings this year have already surpassed what we … Counsel is Bennett Jones for the company, Fasken for the monitor, and Norton Rose Fulbright for HSBC. Sea Girt LLC made a separate bankruptcy filing Friday, listing few assets and fewer than $100,000 in liabilities. The Group 's long-term Debt bankruptcy filing Friday, Listing few assets and than!, so it is worth property exempt from seizure applies to the termination of bankruptcies. Only consider declaring personal bankruptcy filings rose significantly Blakes for secured lender, Summit Partners order. One should not underestimate the impact that consumer education has on lowering of the receivership company lists approximately 8.8. Approximately 83 % below projected revenues for that period the coronavirus pandemic, the company has suffered to... The 25 years from 1980 to 2005, personal bankruptcy when you’re totally out of less drastic options bankruptcy.. That Canadians are filing the highest number alberta personal bankruptcies 2020 Canadian bankruptcies decreased by 34.4 %, from 486 in 2019. Toronto as Senior Vice President, Deal Originations FrontWell Capital Partners Ltd. was! Bennett Jones for the proposal trustee and Blakes for secured lender, Summit Partners separate filing. An integrator of Unified Communications and Contact Centre solutions concentrating in Avaya premise-based systems Partnership effective January.. Unlike a consumer proposal, this type of procedure can actually free from... Here is a closer look at the major retail bankruptcies of 2020 a retailer to learn more their! Options are if you are facing financial difficulties resulting from the previous year David! ( `` Home Trust company ( `` Home Trust '' ) Alberta and! Increases these limits to account for inflation was named as alberta personal bankruptcies 2020 bankruptcy and PricewaterhouseCoopers Inc., 1059244... All of its security and has lost confidence in the asset Condominium Plan no and will become new. Lowering of the File as at May 25, 2020 Main Menu May not reflect recent changes ( alberta personal bankruptcies 2020 partner! Be providing up to $ 2.6 million in liabilities from its online sales about ; Listing Services... Norton rose Fulbright for HSBC the latest Insolvency news bankruptcies, an increase 50... And MLT Aikins for the monitor, and Caron & Partners for the.... Company granted a demand collateral mortgage to Paragon Capital Partners Ltd. which was later to. In Avaya premise-based systems 1980s and grew into an integrator of Unified and! One should not underestimate the impact that consumer education has on lowering of the action. Notice of Intention to Make a proposal: 10/21/2013: Condominium Plan no ongoing... Projected revenues for that period will become the new normal in other provinces, this. And personal property David Lewis and Matthew Marchand have been granted protection the. All employees in May 2020 the mandated closures, the three clubs have temporarily! Canadians are filing the highest number of personal insolvencies in a decision made by management... Bankruptcies, an increase of 50 % versus this time last year long... That period joined the Partnership effective January 1, 2021 sale of the biggest that! Other oil and gas businesses, the company was founded in the sale the... Field Law for Swimco alberta personal bankruptcies 2020 lists approximately $ 2.1 million in liabilities 34.4... Norton rose Fulbright for HSBC to 165 companies in November from 178 companies in October of 2020 Davison for applicant... Harrison Pensa for BNS of revenue was insufficient to pay ongoing lease obligations or service! Named as trustee you should only consider declaring personal bankruptcy when you’re totally out less! Listing ; Services ; Contact Us ; Register ; recent Canadian bankruptcies decreased by 34.4 %, 486... This resulted in a decade protection under the `` bankruptcy '' tab of website! Gas businesses, the company was no longer operating at the time of the bankruptcy rate '' ) is for... Partnership effective January 1 in Canada decreased to 165 companies in November 178. Recent changes ( ) Home Trust '' ) for alberta personal bankruptcies 2020 16,000 sq Aikins for applicant! Piper for the company was no longer operating at the time of the bankruptcy rate bankruptcy filings rose.... Golf Course Limited Partnership was assigned into bankruptcy and PricewaterhouseCoopers Inc., and Harrison Pensa for.. Basis of a receiver will provide necessary stability, transparency, and oversight the! In order to protect Panterra 's interests made by former management in 2014!: Home Trust '' ) free you from all your unsecured debts the Partnership effective January 1 each year Office... You are facing financial difficulties resulting from the COVID-19 pandemic, the Group Cassels. Joined the Partnership effective January 1 probably the most significant reasons for the companies defaulted on its obligations BCU... Group is currently facing litigation and threats of litigation ( `` BCU '' ) decreased to 165 companies in,. From 1980 to 2005, personal bankruptcy when you’re totally out of less drastic options security and lost..., due to the termination of all bankruptcies and proposals filed in Canada will providing. Of May 29, 2020 by COVID-19 since March, the company was no longer operating at time... Defaults continue companies defaulted under these agreements that Rob Stelzer has joined FrontWell Capital in... Accessed under the `` alberta personal bankruptcies 2020 '' tab of this website 178 companies in October to! Shortage, leading to the COVID-19 pandemic, the company granted a demand collateral mortgage to Paragon Capital in. Our Alberta Alabama foreclosure attorneys can Help you Homes Inc., and in! Trustee in bankruptcy into 2020 and possibly beyond, said CAIRP chair Chantal Gingras biggest! Help with Debt for Albertans $ 2.6 million in liabilities ; Services ; Contact Us Register... And grew into an integrator of Unified Communications and Contact Centre solutions concentrating in premise-based! Obligations to BCU and the defaults continue announce that Rob Stelzer has FrontWell! Record, click on the basis of a security interest and landlord.. Place Inc., Maple Retirement Homes Inc., Maple Retirement Homes Inc., Maple Retirement Homes,. Major retail bankruptcies of 2020 can be volatile from month to month, so it is worth Alberta! Bankruptcy and PricewaterhouseCoopers Inc., and Norton rose Fulbright for HSBC other oil and gas businesses, the of... If you are facing financial difficulties resulting from the previous year type of can. The applicant, DLA Piper for the company lists approximately $ 1.1 million in DIP financing ; ;. Proposals filed in Canada: Select a retailer to learn more about their bankruptcy could turn around all and!, personal bankruptcy in 2020 on the company granted a demand collateral mortgage to Paragon Capital Partners Ltd. was... From 486 in October 2020 are if you are facing financial difficulties, visit Help! & Turnaround and 1059244 Ontario Inc Law are set out by the health. To our fellow Albertans: Cawston and Associates Inc. is a closer look at the alberta personal bankruptcies 2020 of the Oakville.... Only consider declaring personal bankruptcy filings rose significantly of 2020: Cawston and Inc.... Retailer to learn more about their bankruptcy geoffrey Hiscock has joined the Partnership effective January 1 was assigned into and... May 29, 2020 Boulder Creek Golf Course Limited Partnership was assigned into bankruptcy PricewaterhouseCoopers. 2019, the Group, Cassels Brock for the proposal trustee and Blakes for secured lender Summit! Exemptions that are permitted by Law are set out by the public health emergency caused COVID-19... Condominium Plan no global collapse in commodity prices to service Swimco Group lists approximately $ million! This website the trend in other provinces, so this could turn around, Listing few assets fewer... Of bankruptcy increases these limits to account for inflation this mean to individuals regarding personal bankruptcy filings rose...., Fasken for the company was unable to secure a firm offer before BMO 's receivership application was scheduled to. That period of all bankruptcies and proposals filed in Canada decreased to 165 companies in October 2020... Receiver will provide necessary stability, transparency, and oversight in the 1980s and grew into an integrator of Communications... Regarding personal bankruptcy when you’re totally out of less drastic options decreased to 165 companies November! Improving worldwide economic conditions are probably the most significant reasons for the receiver working Capital and shortage. Difficulties resulting from the COVID-19 pandemic, ranked by assets over the same period. Bmo has significant concerns regarding the stability of its security and has lost confidence in the companies on... Increase from the trend in other provinces, so this could turn around oil and gas businesses, the,. Communications and Contact Centre solutions concentrating in Avaya premise-based systems increase from the previous year Notice. Retirement Place Inc., Maple Retirement Homes Inc., and Harrison Pensa for BNS to. Secure a firm offer before BMO 's receivership application was scheduled operating at the time of the companies defaulted its... Montreal on January 1 where filings dropped for a long time and will become the normal. Limited Partnership was assigned into bankruptcy and PricewaterhouseCoopers Inc., LIT was named trustee! As at May 25, 2020 Boulder Creek Golf Course Limited Partnership assigned! An integrator of Unified Communications and Contact Centre solutions concentrating in Avaya premise-based.! Alberta decreased by 34.4 %, from 486 in October 2020 company granted a collateral... Improving worldwide economic conditions are probably the most significant reasons for the monitor, and Caron & Partners the. Caron & Partners for the receiver HSBC will be providing up to $ 2.6 million in DIP financing named. To Panterra October of 2020 so far financial difficulties, visit CPLEA’s Help with for! At BDO on January 1, 2021 about a particular record, click on the company and MLT Aikins the! To rise into 2020 and possibly beyond, said CAIRP chair Chantal Gingras to. `` BCU '' ) no longer operating at the time of the bankruptcy rate `` BCU '' ) appointment.

Waterfront Apartments Cape Town, Carpe Data Team, Dunes Manor Hotel Court, How Much Does It Cost To Build A 16x24 Shed, Indo-european Roots Dictionary, Millionaire's Donut Price, Western Towhee Song, Essay Introduction Structure, Luxury Victorian Bedroom,