1901467 Alberta Ltd.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, and sections 13(2) of the Judicature Act, 99(a) of the Business Corporations Act, and 65(7) of the Personal Property Security Act
- File
- 2503 13231
1901467 Alberta Ltd. is the subject of an active insolvency proceeding in the Court of King's Bench of Alberta, carried under court file number 2503 13231. The proceeding dates from July 18, 2025, the day a receivership order was pronounced against the company, and it is recorded as a bankruptcy matter under the Bankruptcy and Insolvency Act. No later steps have been entered on the record, which to date consists of the July 18 order and the Alberta filing particulars alone.
Application (Final Distribution, Approval of Activities, Approval of Fees and Disbursements, and Discharge of Receiver) — Application / notice of application
The court granted an approval and vesting order for the sale to Blackstone Drilling Fluids Limited. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Closing Certificate confirming payment of Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction. Sealed: Confidential Supplement to the First Report of the Receiver.
The court granted an approval and vesting order for the sale to Blackstone Drilling Fluids Limited. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate confirming payment, satisfaction/waiver of closing conditions, and completion of the Transaction. Sealed: Confidential Supplement to the First Report of the Receiver, containing the Purchase Agreement.
Receivership order pronounced July 18, 2025 in the Court of King's Bench of Alberta, the step that opened the proceeding under file 2503 13231.
Source: 2503-13231-Filed-2025-07-24-Consent Receivership Order
Debtor
1901467 Alberta Ltd.
Receiver
EY
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (Deemed Trust Claim - GST/HST) · in 926 casesDeemed trust under subsection 222(3) of the Excise Tax Act — Deemed trust class; per legal opinion, subordinate to Roynat's mortgage on the Lands but would have priority over personal property (of which there was none); no assets for this claim to attach to. — debtor: 1901467 Alberta Ltd. · as of 22 May 2026 | $34.8K | Receiver's Second Report |
| 4 | Secured | Roynat Inc. · in 47 casesRegistered mortgage against the Lands (registration #192 028 681, original principal $3,422,000) and general security interest in all personal property of 190 AB; also caveat re assignment of rents and leases — Approximate liabilities figure per report; described as plus applicable interest and costs. Legal opinion confirms valid and enforceable mortgage. Receiver anticipates Roynat will suffer a shortfall. — debtor: 1901467 Alberta Ltd. · as of 5 Jul 2025 | $2.76M | Receiver's Second Report |
| 4 | Secured | The Bank of Nova Scotia · in 110 casesRegistered mortgage against the Lands, registration #222 076 592, dated 01/04/2022, original principal amount $2,000,000 — Registered mortgage on title; not discussed as an active claimant in the report narrative (Roynat identified as the primary secured creditor); original principal amount, not a stated balance. — debtor: 1901467 Alberta Ltd. | — | Receiver's Second Report |
| 8 | Unsecured | Canada Revenue Agency (GST/HST - unsecured portion) · in 926 casesRemainder of GST/HST claim after deducting the deemed trust portion; CRA asked when this balance would be paid. — debtor: 1901467 Alberta Ltd. · as of 22 May 2026 | $48.2K | Receiver's Second Report |
| 8 | Unsecured | Canada Revenue Agency (Income Tax Act - corporate tax) · in 926 casesUnsecured claim per Proof of Claim; Principal $1,339.00 plus penalty and interest $637.64. — debtor: 1901467 Alberta Ltd. · as of 2 Oct 2025 | $1.98K | Receiver's Second Report |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Sale approved — The Transaction is approved and vesting authorized upon delivery of closing certificateSale Approval and Vesting Order (Sale by Receiver) · 3 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Blackstone Drilling Fluids Limitedthe Debtor's right, title and interest in and to the assets described in the Purchase Agreement · real property · nominee/assignee: its nominee · agreement 18 Jun 2026 | Sealedprice contained in Confidential Supplement / Purchase Agreement, not disclosed in this order | Approved3 Jul 2026 | Application (Sale Approval and Vesting Order,… |
Unsecured creditors: no distribution. BNS $40K · Roynat Inc. $2.75M.EstimatedReceiver's Second Report · 3 Sep 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | BNS | — | $40K | per the receiver | Application (Final Distribution, Approval of Activities, Approval of… · 3 Sep 2026 |
| Secured | Roynat Inc. | — | $2.75Mconditional | per the receiver | Application (Final Distribution, Approval of Activities, Approval of… · 3 Sep 2026 |
| Unsecured | creditors other than Roynat | — | no distributionconditional | Estimatedper the receiver | Receiver's Second Report · 3 Sep 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
2 engagements · 2 firms — latest: Ernst & Young Inc., 18 Jul 2025 – 6 Aug 2026, $47,830.00 soughtReceiver's Second Report · 4 Sep 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Ernst & Young Inc.Receiver | 18 Jul 2025 – 6 Aug 2026Sought | — | $47,830.00ex. tax | not stated | Receiver's Second Report · 4 Sep 2026 |
| MLT Aikins LLPCounsel to the receiver | to 31 Jul 2026Sought | — | $21,142.33incl. tax | not stated | Receiver's Second Report · 4 Sep 2026 |
per Receivership Order valuation of Real Property under receivership · 1901467 Alberta Ltd. (Real Property only) — Statement notes: 'Note no unsecured creditors per Management.' Real Property listed at nominal $1.00 value per Receivership Order; actual values to be provided under sealing order due to sensitivity.
| Date | Document | File |
|---|---|---|
Order (Final Distribution, Approval of Activities, Approval of Fees and Disbursements, and Discharge of Receiver)
| ||
Amended Receiver's Second Report
| ||
Application (Final Distribution, Approval of Activities, Approval of Fees and Disbursements, and Discharge of Receiver)
| ||
Receiver's Second Report
| ||
Sale Approval and Vesting Order (Sale by Receiver)
| ||
| Notice to Media of Application to Restrict Access | ||
Order - Receiver's Activities
| ||
Sealing Order
| ||
Application (Sale Approval and Vesting Order, Temporary Sealing Order, and Order Approving Activities)
| ||
Receiver's First Report
| ||
2503-13231-Filed-2025-07-24-Consent Receivership Order
| ||
Notice and Statement of Receiver
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “1901467 Alberta Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/1901467-alberta-ltd