An Alberta court has ordered the company that owns Camrose Casino into receivership.
“We’re all a little flummoxed by this,” said Howard Pechet, president of Mayfield Investments Ltd., the casino’s owner.
The decision was made on Thursday morning by Court of King’s Bench Justice M. T. Lema, for debts unpaid to ATB Financial. Following two previous forbearance agreements in July and August, the verdict was handed out after the debtors met several of the forbearance’s default criteria listed in the court documents.
The decision could have implications for recent efforts to relocate the Camrose Casino, as a receiver will take control of the business dealings.
