Subsection 245(1) and 246(1) of the Bankruptcy and Insolvency Act
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Notice and Statement of the Receiver (Subsection 245(1) and 246(1) of the Bankruptcy and Insolvency Act) IN THE MATTER OF THE RECEIVERSHIP OF SPRAGUE-ROSSER CONTRACTING CO. LTD., SPRAGUE-ROSSER DEVELOPMENTS INC. AND PACIFIC FEDERATION EQUITY GROUP INC. (“SPRAGUE” OR THE “COMPANY”) The receiver gives notice and declares that: 1. On July 31, 2014, the Court of Queen’s Bench of Alberta granted an Order (the “Receivership Order”) appointing Alvarez & Marsal Canada Inc. (“A&M”) as receiver and manager (the “Receiver”), without security, of all of the current and future assets, undertakings and properties of every nature and kind whatsoever, and wherever situated of the Company, including but not limited to the following property estimated as at July 31, 2014: Estimated Book Value Accounts receivable $ 54,728,000 Inventory 149,000 Work in progress 945,000 Prepaid expenses 410,000 Land and buildings 6,000,000 Property and equipment 4,955,000 Total assets $ 67,187,000 Note: Realizable values may materially differ from the above. 2. A copy of the Receivership Order and other court materials are available on the Receiver’s website at: www.alvarezandmarsal.com/sprague. 3. The following information relates to the receivership: Address of insolvent person: 201, 1259 - 91 Street SW, Edmonton, AB T6X 1E9 Principal line of business: Commercial Construction Location(s) of business: Head Office 201, 1259 - 91 Street SW, Edmonton, AB T6X 1E9 Shop Facility 26229 Township Road, 531A, Acheson, AB T7X 5A4 4. Amounts owed by the Company to each creditor, according to the books and records as at July 31, 2014, are shown below: Name Claim Amount Secured creditors $ 28,418,808 Preferred creditors Unknown Unsecured creditors 29,316,208 Total $ 57,735,016 Attached as Appendix “A” is a list of all known creditors as at the date of receivership. 5. For further information, please contact the Receiver at the following address: Alvarez & Marsal Canada Inc. 1680 – 400 Burrard Street Vancouver, BC V6C 3A6 Name: Ms. Jill Strueby Telephone: (403) 538-7522 Facsimile: (403) 538-7551 Email: [email protected] Name: Ms. Marianna Lee Telephone: (604) 639-0845 Facsimile: (604) 638-7441 Email: [email protected] Dated at Edmonton, Alberta this 8th day of August, 2014. ALVAREZ & MARSAL CANADA INC. in its capacity as COURT APPOINTED RECEIVER AND MANAGER OF SPRAGUE-ROSSER CONTRACTING CO. LTD., SPRAGUE-ROSSER DEVELOPMENTS INC. AND PACIFIC FEDERATION EQUITY GROUP INC. Tom Powell Director Appendix A In the Matter of the Receivership of Sprague-Rosser Contracting Co. Ltd., Sprague-Rosser Developments Inc. and Pacific Federation Equity Group Inc. Preliminary List of Creditors as at July 31, 2014, as submitted by the Debtor without Admission as to any Liabilities or Privilege Herein Shown Creditor Address City Province Postal Code Amount Outstanding Secured Creditors 1 Royal Bank of Canada 20 King Street West Toronto ON M5H 1C4 $ 19,094,003.94 2 Business Development Bank 10665 Jasper Avenue, Suite 200 Edmonton AB T5J 3S9 8,486,300.00 3 Canadian Western Bank 5407 Discovery Way Leduc AB T9E8N4 456,155.61 4 Receiver General 875 Heron Road Ottawa ON K1A 1B1 123,491.99 5 Komatsu Finance 1701 Golf Road Suite 300 Rolling Meadows IL 60008-5049 91,284.00 6 CIT Financial 5035 South Service Rd Burlington ON ON L7R4C8 52,425.00 7 Derrick Dodge 6211 104 St NW Edmonton AB T6H 2K8 49,982.00 8 John Deer 1001 Champlain Avenue Suite 401 Burlington ON L7L5Z4 29,422.00 9 National Leasing 1525 Buffalo Place Winnipeg MB R3T 1L9 26,719.00 10 DELL Financial PO Box 8751 Station A Toronto Toronto ON M5W3C2 9,025.00 Total Secured Creditors $ 28,418,808.54 Preferred Creditors Unknown Unsecured Creditors 11 3M TRIMLINE DESIGN OF PARKLAND Box 3700, 25 South Avenue Sprce Grove AB T7X 3A9 $ 8,378.25 12 1063878 Alberta Ltd. 201 1259 - 91 Street SW Edmonton AB T6X 1E9 Unknown 13 1465046 Alberta Ltd. 201 1259 - 91 Street SW Edmonton AB T6X 1E9 Unknown 14 4 Way Equipment 8430 - 24 Street Edmonton AB T6P 1X8 25,468.96 15 49 North Lubricants 6611 - 45 Street Leduc AB T9E 7E3 8,493.03 16 4Refuel Canada Ltd. #215 - 9440 202 Street Langley BC V1M 4A6 7,242.92 17 580025 Saskatchewan Ltd. PO Box 1905 Regina SK S4P 3E1 8,024.63 18 628372 SASKATCHEWAN LTD. 1650 Winnipeg Street Regina SK S4P 1E8 996.10 19 A.H. MCELROY 9310 YELLOWHEAD TRAIL NW Edmonton AB T5G 0W4 87,820.58 20 A.I.M. Services Ltd. 293 Gregoire Crescent Fort McMurray AB T9H 2L6 32,809.35 21 A-1 Portable - Div. of 1169572 Alberta Ltd. 3925-47 AVENUE Camrose AB T4V 2N2 26,945.18 22 A1 Rent-Alls Ltd. 1500 Dewdney Avenue Regina SK S4R 1G6 2,354.00 23 Acden Environment L.P. 220 Taiganova Cresent Fort McMurray AB T9K 0T4 446.12 24 Ace Trucking and Mechanical Service 17405 - 50 Street Edmonton AB T5E 5S7 13,545.17 25 Acklands-Grainger Inc. P.O. Box 2110 Winnipeg MB R3C 3R4 39,198.09 26 Acuren Group Inc. 1411 - 25 Avenue NE Calgary AB T2E 7L6 4,299.75 27 Adams Lumber Ltd 1944 St. George Avenue Saskatoon SK S7M 0K5 1,101.91 28 Aero Glass & Mirror 521 - 45 A Street Saskatoon SK S7K 0W6 1,427.80 29 Affirmed Investments Suite 302-1253, 91 Street SW Edmonton AB T6X 1E9 Unknown 30 Air Liquide Canada Inc. 10020 -56 Ave Edmonton AB T6E 5Z2 2,794.57 31 AIRTEK SYSTEMS INC 14511 - 115 AVE Edmonton AB T5M 3B8 15,961.71 32 Alberta Concrete Pumping Ltd. 824-78 Avenue NW Edmonton AB T6P 1L7 1,524.34 33 Alberta Roadbuilders Construction 201 - 9333 - 45 Ave Edmonton AB T6E 5Z7 420.00 34 AllNorth PO Box 968 Prince George BC V2L 4V1 Unknown 35 Allure PO Box 46 Bashaw AB T0B 0H0 Unknown 36 AMEC Environment & Infrastructure PO Box 2565,Postal Station M Calgary AB T2P 2M7 3,529.67 37 Amex Bank of Canada PO Box 2000 West Hill ON M1E 5H4 38,935.92 38 AMP Works Welding and Fabrication Inc. Unit 108, 3906 82nd Avenue Leduc AB T9E 8M4 42,610.59 39 Apex Distribution Inc. 550, 407 - 2nd Street SW Calgary AB T2P 2Y3 33,827.45 40 Applus+ RTD #205, 405 TaigaNova Crescent Fort McMurray AB T9K 0T4 3,022.30 41 Aramark Refreshment Services 105 The East Mall - Unit 2 Toronto ON M8Z 5X9 2,119.46 42 Astro Towing (1988) Ltd. 3015 Miners Avenue Saskatoon SK S7K 8A1 288.75 43 Atco Electric 190 Mackay Crescent Fort McMurray AB T9H 4W8 47,727.74 44 Atco Gas 16TH Floor Atco Center Edmonton AB T5J 2V6 3,104.36 45 ATCO Structures & Logistics Suite 300, 4838 Richard Rd. SW Calgary AB T3E 6L1 57,070.16 46 BASEMETHOD Inc. 11630 Kingsway Avenue Edmonton AB T5G 0X5 425.25 47 Battery Connection Inc. (Rocky's Battery) 6015 - 86 Street Edmonton AB T6E 2X4 4,536.00 48 BCL Consulting Group Inc. D14, 6115 - 3rd Street SE Calgary AB T2H 2L2 315.00 49 Bear Slashing Inc. Box 7610 Bonnyville AB T9N 2H9 4,470.00 50 Bell Mobility Inc. P.O. Box 5480, Station Terminal Vancouver BC V6B 4B5 75,827.70 51 BHP Mechanical 21111-108 Avenue Edmonton AB T5S 1X3 1,131.36 52 Big Bore Directional Drilling P.O. Box 10796 Lloydminster AB T9V 3A8 13,940.85 53 Big Eagle Services 900, 444 - 5 Avenue SW Calgary AB T2P 2T8 16,865.10 54 Bilsky Contracting Ltd. Box 2384 Athabasca AB T9S 2B9 9,284.63 55 Bluebeam Software Inc. 200 - 766 E. Colorado Blvd. Pasadena CA 91101 876.00 Page 1 of 7 Creditor Address City Province Postal Code Amount Outstanding 56 Bosch Hydraulic Connections Ltd. 18141 - 111 Avenue Edmonton AB T5S 2P2 5,961.95 57 Boxx Modular 2000, 715-5th Avenue SW Calgary AB T2P 2X6 27,949.72 58 Brandt Tractor Ltd. 10630 - 176 Street Edmonton AB T5S 1M2 10,239.78 59 Bruno's Trucking Ltd. 22318 Highway 14 Sherwood Park AB T8C 1H4 48,405.01 60 Buffalo Lake Development Corporation Box 16 Caslan AB T0A 0R0 1,681.11 61 Buffalo Lake Metis Settlement Box 16 Caslan AB T0A 0R0 1,295.69 62 BURSTALL WINGER LLP 1600-333 7 AVENUE SW Calgary AB T2P 2Z1 14,305.28 63 Butler Survey 2180-39th Ave. NE Calgary AB T2E 6P7 3,365.85 64 C.A.T.S ASSET MANAGEMENT PO Box 990 Calmar AB T0C 0V0 49.77 65 C/O Ricco King 140 Gladue Bay Fort Macmurray AB T9K 1T2 2,400.00 66 Camex Equipment Sales & Rentals Inc. 1511 Sparrow Drive Nisku AB T9E 8H9 299,511.58 67 Canada North Environmental Services 211 Wheeler Street Saskatoon SK S7P 0A4 39,568.06 68 Canada Revenue Agency PO Box 14002, Stn Main Winnipeg MB R3C 3P8 Unknown 69 CanadaServco 3962 Landmark PO Box 1546 Culver City CA 90232-1546 3,586.62 70 Canadian Dewatering 8350-1st Street NW Edmonton AB T6P 1X2 36,019.51 71 Canadian Hydrovac Box 3477 Sherwood Park AB T8H 2T3 Unknown 72 Can-Con a Wolseley Company 3780 - 98th Street Edmonton AB T6E 6B4 5,267.43 73 CannAmm Occupational Testing Services Fl. 2, 101 McIntyre Street W North Bay ON P1B 2Y5 13,521.73 74 Cansel - Edmonton 14308 118th Ave Edmonton AB T5L 2M5 15,204.20 75 Can-Tran Intl. Inc. 7127 Sparrow Drive Leduc AB T9E 7L1 112,612.50 76 Cara Dawn Transport Ltd.