March 19, 2019
Surface Pro Surfaces, a Calgary, Alberta-based landscape contractor, as well as two related companies, were placed in receivership on March 19 on application by RBC, owed approximately $3.3MM. Since early March, the companies have been unable to fund their payroll obligations. In the same month, RBC discovered that Atkins, one of the companies' directors, attempted to deposit personal cheques totaling $50.0M into Surface Pro Surfaces' bank account drawn from the RBC account of his deceased father. The cheques were returned because RBC had no record of Atkins having any executorship or authority over this account. It was also discovered that an employee had attempted to negotiate cheques payable to Surface Pro Surfaces in the accounts of other related companies over which RBC does not have security. The companies have also not been forthcoming with RBC about the status of any priority obligations owing to CRA. Deloitte was appointed receiver. Counsel is BLG for the applicant and Torys for the receiver.