What is a Receivership?
This page is for information purposes only and you should consult your professional adviser.
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Page last updated: September 15, 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.
On February 21, 2020 the Receiver filed its Second and Final Report to the Court in support of a final distribution to the Trust and the Receiver's discharge. On March 6, 2020, the Court granted the orders sought by the Receiver. A copy of the Receiver's final report and the discharge order are posted in the applicable sections of this website.
On November 27, 2018, the Court granted an Approval and Vesting Order in respect of the sale of the assets of Weslease to the Trust. A copy of this order is posted in the Court Orders section of this website.
On November 19, 2018 the Receiver filed its First Report to the Court in support of an order approving a sale of the assets of Weslease to the Trust. The application is scheduled to be heard on November 27, 2018 at 2pm.
On July 26, 2018, PricewaterhouseCoopers Inc. was appointed Receiver of Weslease Income Growth Fund GP Ltd. and Weslease Income Growth Fund Limited Partnership (collectively referred to herein as “Weslease” 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 June 26, 2018, the Court of Queen’s Bench of Alberta granted an order transferring Weslease’s proceedings under section 50.4 of the Bankruptcy and Insolvency Act to proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”). In addition, on June 26, 2018 the Court granted an initial order (the “Initial Order”) under the CCAA. Pursuant to the Initial Order, PricewaterhouseCoopers Inc. was appointed monitor of the Company.