March 14, 2022
Rbee Aggregate Consulting Ltd., a Gibbons, Alberta-based company specializing in mining and processing aggregate into various products, was placed in receivership on March 11, on application by Crown Capital Partner Funding, LP (formerly, Crown Capital Fund IV, LP), by its manager, Crown Private Credit Partners Inc. (collectively, "Crown Capital"). In November 2017, in connection with the company's purchase of certain assets out of the receivership of Petrowest Corporation, the company assumed indebtedness in the principal amount of $17,255 million owing to Crown Capital. As of March 7, the outstanding indebtedness is $22,734,432.15, exclusive of fees and expenses. In 2017, the company and Crown Capital agreed to postpone the company's debt to Crown Capital to the company's obligations under a loan with Canadian Western Bank ("CWB"). CWB consented to the receivership application. FTI was appointed receiver. Counsel is MLT Aikins for Crown Capital and McLennan Ross for CWB.
By Dina Milivojevic