The Lenaco Group of Companies

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Receivership

Page last updated: April 5, 2018

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 on April 4, 2018

On March 28, 2018, orders were granted by the Court approving the sale of the Fort McMurray Project (“210 Alberta Approval and Vesting Order”), approving the Receiver’s activities since its Third Report, granting the authority to the Receiver to make distributions to ATB, approving the release of certain holdbacks, and sealing certain confidential appendices in the Receivers Fourth Report (“Approval of Receiver’s Actions, Interim Distribution, and Sealing Order”).

Status of file on March 19, 2018

On March 19, 2018, the Receiver filed is Fourth Report to inform the Court of the Receiver’s activities since its Third Report, to seek approval of the sale of the Fort McMurray Project, to seek approval to make a distribution to ATB from the proceeds of the Fort McMurray Project and to seek approval to release certain holdbacks as set out in the Approval of Receiver’s Actions, Interim Distribution and Sealing Order and distribute these funds to ATB. The application will be heard on March 28, 2018.

Status of file on January 29, 2018

On January 29, 2018, orders were granted by the Court approving the sale of the Duplex Inventory (“Nelson Lumber Sale Approval and Vesting Order”), the sale of the Eaux Claires Project (“LeCerf Sale Approval and Vesting Order”), the sale of a residential property approved for redevelopment (“171 Sale Approval and Vesting Order”), the sale of an industrial condominium building located in west Edmonton (“Rocker Sale Approval and Vesting Order”) and approving the Receiver’s activities since its Second Report, granting the authority to the Receiver to make distributions to ATB and sealing certain confidential appendices in the Receiver’s Third Report (“Approval of Receiver’s Actions, Interim Distribution, and Sealing Order”).

Status of file on January 22, 2018

On January 22, 2018, the Receiver filed its Third Report to inform the Court of the Receiver’s activities since its Second Report, to advise the Court of the results of the Court approved marketing and sales process conducted by the Receiver for certain real estate projects under construction and to seek approval of the sale of several of these projects, as well as seek approval of the sale of an industrial condominium building located in west Edmonton and a residential property approved for redevelopment and seek approval to make distributions to ATB.  The application will be heard on January 29, 2018.

Status of file on November 10, 2017

On November 10, 2017, orders were granted by the Court approving the marketing and sales process implemented by the Receiver for certain real estate projects under construction (“Marketing and Sales Process Order”), approving the sale of Lenaco’s head office (“Head Office Vesting Order”) and approving the Receiver’s activities to date and sealing certain confidential appendices in the Receiver’s Second Report (“Service, Sealing and Conduct Approval Order”).

Status of file on October 30, 2017

On October 30, 2017, the Receiver filed its Second Report to inform the Court of the Receiver’s activities since its appointment, to seek approval of the marketing and sales process implemented by the Receiver for certain real estate projects under construction and to seek approval of the sale of Lenaco’s head office.  The application will be heard on November 10, 2017.

Status of file on October 6, 2017

On October 6, 2017, an order was granted by the Court approving the sale of the Carlton Property (“Carlton Sale Approval and Vesting Order”).

Status of file as of October 4, 2017

On October 3, 2017, the Receiver filed its First Report to seek the approval of the sale of a residential property owned by Lenaco Homes Masterbuilder Inc.  The application will be heard on October 6, 2017.

Status of file as of September 19, 2017

The Trustee presented its Preliminary Report at the first meeting of creditors. Copies of the report can be accessed under the Trustee’s Reports tab of this website.

Status of file as of August 28, 2017

On August 28, 2017, PricewaterhouseCoopers Inc. was appointed Receiver of Lenaco Homes Masterbuilder Inc., Lenaco Properties Inc., 1847443 Alberta Ltd., 1909479 Alberta Ltd., and 1860808 Alberta Ltd, collectively referred herein as the “Lenaco Group of Companies” (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.

On August 28, 2017, PricewaterhouseCoopers Inc. was appointed Trustee in Bankruptcy of Lenaco Homes Masterbuilder Inc., Lenaco Properties Inc., 1847443 Alberta Ltd., 1909479 Alberta Ltd., 1860808 Alberta Ltd., 1901902 Alberta Ltd., Angelo’s Building Supplies 2015 Inc., Conte Holdings Inc. and I&G Holdings Ltd.  by the Court of Queen’s Bench of Alberta.  Copies of the relevant court orders can be accessed under the Court Orders tab of this website.

The first meeting of creditors of the bankrupt will be held on September 19, 2017, at the Centennial Meeting Room, 1102 Oxford Tower, 10025-102A Ave Edmonton T5J 2Z2, for each company as follows:           

Lenaco Homes Masterbuilder Inc.         1:00 PM
Lenaco Properties Inc.                            1:30 PM
Angelo's Building Supplies 2015 Inc.    2:00 PM
1847443 Alberta Ltd.                              2:30 PM
1860808 Alberta Ltd.                              3:00 PM
1901902 Alberta Ltd.                              3:15 PM
1909479 Alberta Ltd.                              3:30 PM
Conte Holdings Inc.                                 3:45 PM
I&G Holdings Ltd.                                    4:00 PM

Copies of Notice of the Bankruptcy, First Meeting of Creditors,  Statements of Affairs and  Proofs of Claims may be accessed under the Notices to Creditors tab of this website.
 



This Web site will be updated as information becomes available.

For more information, please contact: Sumeet Saroya, Telephone:+1 780 441 6701 ext 3313, or via Email
Clearly address all faxes as “Re: Lenaco Receivership”.
 

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Contact us

Sumeet Saroya
Senior Associate
Tel: +1 780 441 6701 ext 3313
Email