1905393 Alberta Ltd.

Receivership

^{Page last updated: July 31, 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 at July 20, 2020

On July 20, 2020, the Receiver filed its Second and Final Report to inform the Court of the Receiver’s activities since its First Report and seek approval of the following:

• Receiver’s activities, including fees and disbursements of the Receiver and its legal counsel;
• The distribution of remaining funds held in its accounts; and,
• Discharging the Receiver. 

The application will be heard on July 28, 2020.

Status of file on December 24, 2019 

On December 6, 2019 the Notice of Appeal filed on May 27, 2019 by 1905393 Alberta Ltd., Mr. David Podollan, and Stellar One Holdings Ltd. (the "Appeal") in respect of in respect of the Alberta Court of Queen's Bench Sale Approval Order was dismissed in its entirety. A copy of the Judgment Roll can be accessed under the Court Orders tab of this website. 

With the dismissal of the Appeal, the sale of the property closed on November 29, 2019.

Status of file on June 26, 2019 

On May 27, 2019, 1905393 Alberta Ltd., Mr. David Podollan, and Stellar One Holdings Ltd. (collectively the "Appellants") filed a Notice of Appeal at the Alberta Court of Appeal in respect of the ABQB Sale Approval Order (the "Appeal"). 

On June 6, 2019, the Alberta Court of Appeal heard submissions by, inter alios, the Appellants, the Purchaser, the Receiver regarding the issues surrounding leave to appeal and a stay of proceedings in respect of the Appeal and directed, inter alia, that Appeal be heard at earliest date available without lifting the automatic stay of proceedings imposed pursuant to s.95 of the Bankruptcy and Insolvency Act. The Appellants and Respondents to the Appeal have secured September 3, 2019 for the Appeal to be heard by the Alberta Court of Appeal.

Status of file at May 22, 2019

On May 21, 2019, orders were granted by the Court approving the sale of the hotels (“Approval and Vesting Order”) and sealing certain confidential appendices to the Receiver’s First Report and the Affidavit of Value (“Sealing Order and Publication Ban”).

Status of file at May 9, 2019

On May 9, 2019, the Receiver filed its First Report to inform the Court of the Receiver’s activities since its appointment and to seek approval of the sale of the Company’s real property.  The application will be heard on May 21, 2019.

Status of file as of July 20, 2018:

On July 20, 2018, PricewaterhouseCoopers Inc. was appointed Receiver of 1905393 Alberta Ltd., (the “Company”) by the Court of Queen’s Bench of Alberta (“Receivership Order”).  The assets of the Company include an extended stay hotel operating as the Podollan Rez-idence Grande Prairie and a new hotel currently under construction.  A copy of the Receivership Order can be accessed under the Court Orders tab of this website.

This Web site will be updated as further information becomes available.

For more information, please contact:

Name: Sumeet Saroya
Telephone: +1 780 441 6701 Ext. 3313
Fax: +1 780 441 6776
Email: sumeet.saroya@ca.pwc.com

Clearly address all faxes as “Re: 1905393 Alberta Ltd. Receivership”