Croft Aggregates Limited, Receivership

Croft Aggregates Limited, a Lumsden, Saskatchewan-based aggregates business, was placed into receivership on September 27 on application by Conexus Credit Union 2006, owed approximately $9 million. The company had not made a payment to Conexus since October 2019 and also owed substantial municipal, provincial and federal taxes. Fearing that its security was in jeopardy, Conexus applied for a receiver to be appointed to take control of the company’s assets. Deloitte was appointed receiver. Counsel is Miller Thomson for the receiver, MLT Aikins for Conexus, McDougall Gauley for KF Aggregates and Recycling Inc. and Robertson Stromberg for the company.

By: Dina Milivojevic