BR Capital Inc.

BR Capital Inc. and twelve related entities each filed an NOI on September 14, 2022, listing approximately $2.7 million in liabilities. The companies, based in Calgary, Alberta, had developed various cloud-based software systems for dental/medical clinics and for teaching functions. Due to disruptions caused by the COVID-19 pandemic, demand for new licenses and revenue had declined, resulting in liquidity pressures and resulting in the decision to file the NOIs. KPMG is the proposal trustee, Gowlings WLG is counsel for the companies and Osler is counsel for the proposal trustee. By Dina Milivojevic

Genesis Integration Inc. (“Genesis”)

Genesis Integration Inc. ("Genesis"), an Edmonton, Alberta-based company in the business of designing and integrating audiovisual collaboration systems for both public sector and corporate clients, and its sole shareholder, 965591 Alberta Ltd. ("965"), a holding company, were each placed in receivership on September 14, on application by Cortland Credit Lending Corporation ("Cortland"), owed approximately $9.5 million, plus legal fees, interest and costs. The Cortland debt is guaranteed by Genesis and its wholly-owned subsidiary, Fusion Cine Sales & Rental Inc. ("Fusion”). On the same day that the Receivership Order was granted, a Reverse Vesting Order was granted approving a going concern sale to Sequent AI Exchangeco Limited, a related party, of all of the issued and outstanding shares of Genesis, including Genesis’s ownership interest in Fusion, without any effect on Fusion’s creditor obligations, including in respect of the Cortland debt and amounts it owes to certain critical suppliers. KSV was appointed receiver. Counsel is Dentons for Cortland, McMillan for the receiver and Blakes for the purchaser. By Dina Milivojevic

Universal Mechanical Ltd. (“UniMech”), Movin’ Air Heating & Air Conditioning Ltd. (“Movin’ Air”), and Agincourt Limited (collectively, the “Companies”)

Universal Mechanical Ltd. (“UniMech”), Movin’ Air Heating & Air Conditioning Ltd. (“Movin’ Air”), and Agincourt Limited (collectively, the “Companies”) each filed an NOI on September 6, 2022. UniMech and Movin’ Air respectively operated as mechanical and HVAC contractors in Calgary, Alberta. The Companies collectively listed $9.7 million in liabilities, including approximately $3.3 million to RBC. Due to project delivery delays, customer payments have been withheld or delayed, which resulted in liquidity pressures and the decision to file the NOI. Grant Thornton is the proposal trustee. DLA Piper is counsel for the Companies and Burnet, Duckworth & Palmer is counsel for the proposal trustee. By Dina Milivojevic

Faissal Mouhamad Professional Corporation (“FMPC”)

Faissal Mouhamad Professional Corporation ("FMPC"), which operates dental clinics in Red Deer and Calgary, Alberta, and 52 Dental Corporation and Delta Dental Corp., which manage the Red Deer and Calgary clinics' business operations, were placed in interim receivership on August 23, on application by RBC, owed approximately $3.1 million. RBC has become increasingly concerned that funds have been diverted from and payments have been made by FMPC to other corporations owned by Faissal Mouhamad, the principal of the companies, contrary to the terms of the credit facilities and the security granted to RBC. FMPC is also in default of the credit facilities and the security in that, among other things, it has failed to repay all amounts owing to RBC on demand, is not conducting day-to-day banking at RBC, has changed the ownership structure of the companies without giving RBC prior written notice and has failed to notify RBC of certain litigation against it. MNP was appointed interim receiver. Counsel is Miller Thomson for RBC and McMillan for the interim receiver.

Solvaqua Inc.

Solvaqua Inc., a Calgary, Alberta-based company which provided proprietary wastewater management solutions based on nanopolymerization technology that allows isolated areas to reuse water, was placed in receivership on August 19, on application by Arnaki Ltd., owed approximately USD$6 million. Solvaqua’s business plan was to implement the technology in foreign jurisdictions. Its contracts with overseas buyers were insured by Export Development Canada (“EDC”). The amount owing represents the debt outstanding following EDC's payout of $1,386,000 on an insurance claim filed by the company after a buyer failed to complete the purchase of certain of the company's equipment, with the insurance proceeds having been assigned to Arnaki. MNP was appointed receiver. Counsel is Chitiz Pathak for Arnaki By Dina Milivojevic

1761112 Alberta Ltd.

1761112 Alberta Ltd., whose business consists of leasing commercial and residential units in Edmonton, Alberta, was placed in receivership on August 19, on application by RBC, owed approximately $660,000, plus interest pursuant to a commercial mortgage. The company defaulted on the payment of principal and interest, and RBC demanded payment in full of the indebtedness in January. RBC agreed to forbear until May 18, but no payment was made. EY Parthenon was appointed receiver. Counsel is Dentons for RBC and Witten for the receiver. By Dina Milivojevic

North American Lamb Company (“NALCO”)

North American Lamb Company ("NALCO"), a Manitoba and Alberta-based lamb producer and processor, and various subsidiaries (the "NALCO Group") obtained CCAA protection on August 8, on application by Fresh Canada Meats Ltd. ("FCM"), a creditor and majority shareholder of the NALCO Group. Approximately 70% of the lambs produced in Alberta are processed by the NALCO Group. Notwithstanding this significant market share, the company has incurred ongoing operating losses since its inception in 2018. By May 2022, the NALCO Group faced a severe liquidity challenge and began delaying payments to non-essential creditors to preserve cash. This crisis ultimately culminated in both of the NALCO Group's primary secured creditors, BNS and FCC, serving notices of intention under the Farm Debt Mediation Act and the BIA. EY was appointed monitor. Counsel is North & Company for NALCO, MLT Aikins for FCM, McMillan for BNS, Sharek Logan & van Leenen for FCC, Norton Rose for the monitor and Bennett Jones for 2079468 Alberta Ltd., the NALCO Group's minority shareholder. By Dina Milivojevic

Trebor RX Corp.

Trebor RX Corp., a PPE manufacturer with production facilities in Collingwood, Ontario and Edmonton, Alberta, was placed in receivership on July 15, on application by RBC. The company unsuccessfully opposed the application on the basis of, among other things, a potential transaction with the State Project Development Commission of Ghana. Fuller Landau was appointed receiver. Counsel is Aird & Berlis for RBC and Scott Petrie for the company. By Dina Milivojevic

Radium Scout First Ltd.

Radium Scout First Ltd., which owns and operates a mixed-use multi-family commercial and residential property in Fort McMurray, Alberta, together with Waters Edge Shopping Centre Ltd. and W. De Silva Properties, which own and operate certain condominiums in Fort McMurray, Alberta, were placed in receivership on July 15, on application by Servus Credit Union, owed approximately $12.5 million. The companies have struggled for a number of years to make the properties financially viable. Low oil prices have significantly impacted Fort McMurray's economy and incidentally affected the demand for housing. The companies were further impacted by the COVID-19 pandemic, as well as a flood in the spring of 2020 which caused considerable damage to the Radium Scout property. Servus sought the appointment of a receiver following the expiry of the forbearance period. PwC was appointed receiver. Counsel is Miller Thomson for Servus. By Dina Milivojevic

Home Solutions Corporation

Home Solutions Corporation, a Calgary, Alberta-based manufacturer and supplier of materials for closets and glassware for commercial and residential clients in the construction industry, was placed in receivership on June 28, on application by Private Debt Partners Senior Opportunities Fund GP Inc. carrying on business as Private Debt Partners ("PDP"), owed approximately $9.2 million. The company defaulted on its obligations to PDP within two months of the date that the credit facility was advanced. Grant Thornton was appointed receiver. Counsel is Miller Thomson for PDP. By Dina Milivojevic