Alberta West Transport Placed in Receivership Amid $1.73M Debt

Alberta West Transport and two related companies have been placed in receivership due to unpaid debts of $1.73 million owed to Royal Bank of Canada (RBC).

The Court of King’s Bench of Alberta appointed Grant Thornton as receiver and receiver-manager of the three companies on August 20, after they failed to repay their RBC credit facilities.

Court documents show that by July 24, Alberta West Transport owed $336,064.71, Bison Oilfield Services owed $588,696.54, and Ridgeline Forest Contracting owed $800,189.52, totaling $1,724,950.77 in debt, plus continuing interest and fees.

RBC had issued demands for repayment and notices of its intention to enforce its security on April 30, after meeting with the companies' directors in Fort McMurray on April 27 and 28.