Life Plaza - In Receivership
Filing Date: June 09, 2026
MNP Ltd. was appointed as the Receiver and Manager (the “Receiver”) of selected property (the “Property”) of SCREO I Gill Inc. and SCREO I Gill L.P. by its general partner SCREO I Gill GP Inc. pursuant to a Receivership Order (the “Order”) pronounced by the Court of King’s Bench of Alberta on June 9, 2026. The Property includes the commercial building known as Life Plaza located at 734 – 7th Avenue SW in Calgary, Alberta and all personal property located on or used in conjunction with Life Plaza.
The receivership proceedings were initiated upon the application of Timbercreek Mortgage Servicing Inc. (“Timbercreek”), and Computershare Trust Company of Canada, solely in its capacity as bare trustee for Timbercreek, who were owed approximately $27.3 million as at May 26, 2026.
On June 9, 2026, the Court approved an Agreement of Purchase and Sale between the Receiver and Timbercreek or its assignee and issued a Sale Approval and Vesting Order (the “SAVO”) authorizing the Receiver to take all necessary actions to complete the transaction contemplated therein (the “Life Plaza Sale”). The Life Plaza Sale is set to close 45 days following the Court granting the SAVO.
Publicly available information regarding this receivership can be found below: