Paradigm Holdings Inc. and Obasa-Premier Suites Inc. placed into receivership

Paradigm Holdings Inc. and Obasa-Premier Suites Inc. were placed into receivership on September 23, on application by National Bank of Canada (“NBC”), owed approximately $8.43 million.

The companies are headquartered in Saskatoon and are in the business of leasing short and long-term furnished condominium rentals primarily in Saskatoon and Regina. The companies also hold commercial property which is leased to commercial tenants in Saskatoon. 

Grant Thornton is the receiver.

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