1255261 Alberta Ltd., formerly known as On Site Project Ltd.
- Proceeding
- Proposalsubsection 50.4(1) of the Bankruptcy and Insolvency Act (Canada)
- File
- 24-3278321
- Industry
- Energy · Oilfield services
1255261 Alberta Ltd., formerly known as On Site Projects Ltd., filed a Notice of Intention to Make a Proposal on September 25, 2025, commencing a Division I proposal proceeding under the Bankruptcy and Insolvency Act. The proceeding carries court file no. 24-3278321 and remains active. The record to date consists of the commencement filing itself; no proposal terms, creditor meeting or further steps have been recorded.
Auction Approval and Vesting Order - Filed Nov 24, 2025 was filed.
Source: Auction Approval and Vesting Order - Filed Nov 24, 2025
Debtor
1255261 Alberta Ltd., formerly known as On Site Project Ltd.
Proposal trustee
BDO
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | True Works Inc.General Security Agreement (blanket, all-property) dated March 14, 2023, registered in the Personal Property Registry March 17, 2023 — Sole secured creditor; non-arm's-length/related party (True Works Inc. owns 100% of the Debtor's shares). Per the Debtor's sworn Statement of Affairs (Oct 22, 2025), the $842,841.28 total claim is bifurcated by security value: $685,000.00 recorded as secured (value of assets securing the claim) and $157,841.28 as unsecured deficiency. Trustee's Form 40 report and Report to Creditors both show the full $842,841.28 as the secured claim balance; Report states aggr · as of 22 Oct 2025 | $843K | Report of Trustee on Proposal - Filed Nov 7, 2025 |
2 transactions · 1 proposed · 1 approved — Auction proposal approved and marketing/sale of assets authorizedAuction Approval and Vesting Order - Filed Nov 24, 2025 · 19 Nov 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| McDougall Auctioneers Ltd.the property of the Insolvent Person · auction | Subscribers | Proposed | Report of Trustee on Proposal - Filed Nov 7,… |
| end purchaser(s) at auction of the Auction Assets, unnamedthe Debtor's right, title and interest in and to the assets described in Schedule 'A' to this Order (the 'Auction Assets') · auction · nominee/assignee: its nominee · agreement 21 Oct 2025 | not stated | Approved19 Nov 2025 | Auction Approval and Vesting Order - Filed Nov… |
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Auction Approval and Vesting Order - Filed Nov 24, 2025
| PDF · Subscribers | |
Order Approving Proposal and Activities - Filed Nov 24, 2025
| PDF · Subscribers | |
Restricted Court Access Order - Filed Nov 24, 2025
| PDF · Subscribers | |
Application for Order Approving Proposal
| PDF · Subscribers | |
Report of Trustee on Proposal - Filed Nov 7, 2025
| PDF · Subscribers | |
First Trustee Report to Court - Dated Nov 6, 2025
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “1255261 Alberta Ltd., formerly known as On Site Project Ltd.” (Proposal), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/1255261-alberta-ltd-formerly-known-as-on-site-project-ltd