DL Pharmacy et al., Receivership

DL Pharmacy Inc. (“DLP”), DL Land Holdings Ltd. (“DLLH”) and Erbach Holdings Ltd (“EHL”) (collectively the “Companies”) were placed in receivership on May 17 on application by RBC.

DLP operates a full-service pharmacy located in North Battleford, Saskatchewan, which operates under the name Fishers Drug Store, while DLLH owns a portfolio of residential and commercial real estate in the North Battleford and Saskatoon. EHL owns and operates a flower shop and gift store located in North Battleford.

The Companies have defaulted on various debts owed to RBC, including mortgages.

Grant Thornton was appointed receiver.

Counsel is MLT Aikins for the receiver and McDougall Gauley for RBC.

By: Dina Milivojevic