February 12, 2021
Eaglesmed Group Inc. ("Eaglesmed") and Chris Musah Professional Corporation ("CMPC"), which operate a Calgary, Alberta-based health and wellness clinic, were placed in receivership on February 12 on application by BMO, owed approximately $1.1 million by Eaglesmed and $1.4 million by CMPC. Both Eaglesmed and CMPC are in default of their respective loan agreements and guarantees as they incurred excesses in borrowing on operating lines, failed to pay amounts owing to BMO, and failed to provide the required reporting. Deloitte was appointed receiver and manager. Counsel is Dentons for BMO, Cassels for the receiver, and Robertson for the companies.