Athasand Restaurants Inc. and Blue Inc.

In Receivership

Page last updated: June 15, 2012

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

Status of file as of June 14, 2012

The Receiver has filed an application to be heard on June 25, 2012, in which it seeks the Courts authorization for a number of items including its discharge as Receiver upon the completion of certain items. The Receiver filed its Third and Final Report with the Court and posted this report in the Receiver's Report section of this website. The application material can be found in the Court Order section of this website.

Status of file as of May 3, 2011

On May 3, 2011, the Court granted an Order approving the sale of the Athasand Assets to Crazy Joe Davola Enterprises Inc. (“Crazy Joe”) and the Blue Assets to Poppi’s Restaurant Inc. (“Poppi’s”). The Order also authorizes the Receiver to pay from the net proceeds of the sale any and all claims the Receiver determines has priority over GE Canada Equipment Financing G.P. (“GE”) and an interim distribution from the sale of the Athasand assets to GE of up to $2.0 million.

Status of file as of April 26, 2011

On April 26, 2011, the Receiver prepared its First Report to the Court to inform the Court of (i) the activities of the Receiver since the date of the Receivership Orders; (ii) A review of the Property of the Companies held by the Receiver (iii) a review of the secured and potential priority claims against the Companies; (iv) The Receiver’s statement of receipts and disbursements to April 5, 2011 (v) the results of the Sales Process; and (vi) the proposed interim distribution of a portion of the sale proceeds.

Status of file as of February 8, 2011

On February 8, 2011 PricewaterhouseCoopers Inc. was appointed Receiver and Manager of Athasand Restaurants Inc. and Blue Inc. (collectively referred to as the “Operating Restaurants”)by the Court of Queen’s Bench of Alberta (the "Receivership Order").

The Receivership Order empowers the Receiver, among other things, to take possession and control of the Operating Restaurants and to manage, operate and carry on the business of the Operating Restaurants.

The Receiver has engaged Moxie’s Restaurants Limited Partnership (the “Operator”), as operator and managing agent of the Operating Restaurants. In the performance of its duties as operator and managing agent, the Operator shall act solely on behalf of and as agent for PwC and not on its own behalf.

This Web site will be updated as information becomes available.

For more information, please contact: PricewaterhouseCoopers Inc., Telephone: +1 780 638 6900, Fax: +1 780 441 6776 Attention: Kendal Harazny, Email.

Contact us

PricewaterhouseCoopers Inc.

Tel: +1 780 638 6900

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