Edmonton Oilers owner Peter Pocklington, who shocked...

Edmonton Oilers owner Peter Pocklington, who shocked the hockey world when he traded Wayne Gretzky to the Kings last year, lost much of his business empire when he defaulted on a government loan.

The Alberta government announced it has taken over the Gainers Inc. meat-packing plants and other holdings of Pocklington after the company failed to make interest payments on a $5.1-million loan, part of a much larger government-aid package.