Alberta Bankruptcy - bankruptcy trustees - Calgary, Edmonton bankruptcy

Kendax Investments Inc. vs. Donald Carmichael and 658051 Ontario Limited and Kingscroft Investments Limited

Alger & Associates Inc. was appointed Judicial Trustee of the property known as Bonaventure Court (municipally known as 205 Heritage Drive, Calgary, AB and registered as Condo Plan 8811686, Units 1 - 195) in accordance with Orders of the Court of Queen's Bench of Alberta ("Court") as posted below. On November 29, 2011, the Court approved the replacement of the Judicial Trustee from Alger & Associates Inc.. to Grant Thornton Limited, following Grant Thornton�s purchase of Alger & Associates Inc.�s practice, earlier in 2011. As Judicial Trustee, we are a neutral party whose duties are outlined in the Judicial Trustee's First Report (February 20, 2003) as posted below. The purpose of this web site is to provide access to Orders, reports and documents to various interested parties.

Recent Events

PLEASE DO NOT SEND ANY CORRESPONDENCE TO MADAM JUSTICE HORNER DIRECTLY - At the July 28, 2005 Court Application (continued)

On October 28, 2011, the Judicial Trustee issued its Sixteenth Report to Beneficial Owners. On November 17, 2011 this Report and the related Application to be heard November 29, 2011 were filed. The Order arising from the November 29, 2011 Application, along with the Report and Application are posted below.

The matters heard at the May 12, 2011 Court Application as outlined below, were adjourned to July 28, 2011 as noted within the letters contained in the Notices/Application section below. The related briefs for this application are posted below. Justice Horner's decision regarding the July 28, 2011 Court application outlined below was reserved (i.e. the decision was not determined at the application and will be rendered at a later date). At the November 29, 2011 Application Justice Horner conveyed that the decision on this matter would be rendered within the next two weeks. This decision will be posted when received. An interim distribution to Beneficial Owners subsequent to this decision will be addressed in 2012 (i.e. there will be no further interim distributions issued in 2011).

On October 17, 2011, the Judicial Trustee filed its Fifth Special Report, issued on October 13, 2011, regarding the 29 units that were excluded from the Judicial Trustee's Fourth Special Report. A copy of the report is posted below.

On March 24, 2011, the Court granted an Order approving all items outlined in the Judicial Trustee's December 15, 2010 Notice of Application with the exception of the application of set-off to retain approximately $1.7 million against Respondents and the interim distribution, which matters were adjourned sine die. A copy of the Order is posted below. The application on the adjourned matters is to be heard on May 12, 2011 at 10AM. The brief and affidavit filed by Glenmount Management Ltd. and the brief filed by the Judicial Trustee are all posted below.

On July 23, 2010 Kendax Investments Inc. ("Kendax") filed a Statement of Defence to the Judicial Trustee's June 17, 2010 Statement of Claim against them, along with the related Demand for Particulars. On August 16, 2010, the Judicial Trustee filed its Reply to Demand for Particulars. On September 7, 2010 the Court added Bonaventure Small Investors Group ("BSIG") as an Intervener to this action. On September 30, 2010 the Judicial Trustee executed its Affidavit of Records. On May 3, 2011 Kendax executed its Affidavit of Records. On May 9, 2011 Kendax filed an application and affidavit in support of seeking an Order for security for costs against BSIG, with the matter to be heard in conjunction with the May 12, 2011 application referred to above. All of the aforementioned documents are posted below under "Statement of Claim & Defence - Kendax litigation" tab.