October 13, 2022

Filing Type:

Trustee: MNP

Applicant: Cobra Mortgage Services Ltd.

Applicant Counsel: Warren Sinclair



Wolf Creek Golf Resort Ltd., which operated a 36-hole golf course and RV Park located in Ponoka, Alberta, was placed in receivership on October 13, on application by Cobra Mortgage Services Ltd., owed over $2.9 million. The company defaulted on payment of the credit facilities owed to Cobra, and also permitted the registration of a subordinate mortgage against title to mortgaged lands. The company has also defaulted on the terms of the forbearance with Cobra, including by defaulting on its payment obligations and obtaining a Western Economic Diversification loan in the amount of $340,000. NU Edge Construction Ltd. has also obtained a judgment against the company in the approximate amount of $564,000. MNP was appointed receiver. Counsel is Warren Sinclair for Cobra.

By Dina Milivojevic