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Economy Landscape Contractors Ltd. and Economy Landscape Group Ltd.

Receivership

Page last updated: October 26, 2020

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 October 26, 2020

On October 23, 2020, the Court granted the relief sought by the Receiver as set out in the Third Report. A copy of the order is posted in the Court Orders section of this website.

Status of file as of October 12, 2019

On October 9, 2020, the Receiver filed its Third Report to the Court seeking: 

  • approval of the Shareholder Settlement Agreement; 
  • approval to make a distribution from Contractors to Group in respect of Group’s secured claim as against Contractors; 
  • approval to make a distribution to the unsecured creditors of Group; 
  • approval to make a distribution to the shareholders of Group; 
  • approval of the fees and disbursement of the Receiver and its legal counsel; 
  • approval of the Fee and Cost Provision; 
  • approval to dispose of the Company’s books and records; and 
  • an order discharging the Receiver, subject to completion of the Remaining Duties incidental to the administration of the receivership, and effective upon the filing of the Receiver’s Completion Certificate.

The application is set for October 23, 2020.

Status of file as of August 27, 2019

On August 19, 2019, the Receiver filed its Second Report to the Court seeking, among other things, approval of a sale of the Company’s real estate. On August 26, 2019, the Court granted the various orders sought by the Receiver.

Status of File as March 20, 2019 

On March 20, 2019, the Court granted the orders sought by the Receiver as set out in its First Report to the Court, including, approval of the auction proposal for the Company’s equipment, rolling stock, and other miscellaneous assets, approval to list the Company’s real estate, and approval to make a distribution to The Toronto Dominion Bank.

Status of file as of March 12, 2019: 

On March 11, 2019, the Receiver filed its first court report to advise the Court of the Receiver’s activities since the granting of the Receivership Order, to seek approval of the auction proposal for the Company’s equipment, rolling stock, and other miscellaneous assets, to seek approval to list the Company’s real estate, and to seek approval to make a distribution to The Toronto Dominion Bank. The application will be heard on March 20, 2019.

 

Status of file as of October 26, 2018:

On October 26, 2018, PricewaterhouseCoopers Inc. was appointed Receiver of Economy Landscape Contractors Ltd. and Economy Landscape Group Ltd., (collectively referred herein as the “Economy Landscape” or the “Company”) by the Court of Queen’s Bench of Alberta (“Receivership Order”). A copy of the Receivership Order can be accessed under the Court Orders tab of this website.

 

Contact us

Michael Vaasjo

Senior Associate, PwC Canada

Tel: 780-441-6703

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