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Invitation for real estate proposals

CALGARY, AB, Oct. 14, 2020 /CNW/ - Ernst & Young Inc., in its capacity as Court-appointed receiver (the "Receiver") of Willow Park Capital Corp., Willow Park LP, Wesley Church Building Inc., Wesley Church Building LP, Paramount Building Ltd. and Paramount Building LP (collectively, the "Companies"), is seeking proposals for the purchase of some or all of the assets of the Companies, comprised of commercial real estate properties (the "Properties"), pursuant to a sales process (the "Sales Process") approved by the Court of Queen's Bench of Alberta on October 6, 2020.

Key milestones of the Sales Process are as follows:

  • Phase 1 LOI Deadline: November 23, 2020
  • Phase 2 Binding Bid Deadline: December 14, 2020
  • Targeted Closing Date: January 11, 2021, subject to Court approval

A confidential information memorandum has been prepared by the Receiver and is available to parties that have expressed an interest in the Sales Process and have delivered a non-disclosure agreement ("NDA") to the Receiver.

Additional information on the Sales Process, including a downloadable version of the NDA and a teaser letter outlining key details of the Properties, are available on the Receiver's websites for the Companies:

Ernst & Young Inc., in its capacity as Court-appointed Receiver of the Companies and not in its personal or corporate capacity
2200, 215 – 2nd Street SW
Calgary, AB  T2P 1M4
Fax:        (403) 206-5075

SOURCE EY Canada

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2020/14/c2062.html

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