Bob Sad Enterprises Ltd., which owns 2.58 acres of land in Whitecourt, Alberta and carried on business as an automotive repair business, was assigned into bankruptcy on February 21, on application by Agriculture Financial Services Corporation (“AFSC”), owed approximately $1.6 million.

Bob Sad Enterprises had ceased to carry on operations and the commercial building where the business operated had been left in a state of disrepair. The company had also ceased to meet its liabilities as they came due, including having defaulted on their obligations to AFSC, non-payment of property taxes and failure to pay GST obligations to CRA.

BDO is the bankruptcy trustee. Counsel is Miller Thomson for AFSC, Witten for the trustee and Cameron & Cameron for the company.

By: Dina Milivojevic