1901467 Alberta Ltd.
- 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
- Industry
- Real estate · Rental & income property
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.
Desk Application Without Notice (Order Correcting Sale Approval and Vesting Order) — Approval and vesting order
Order of October 13, 2026 in respect of the sale of the Lands to Blackstone Drilling Fluids Limited or its nominee, which closed at a price of $3,000,000.
Source: Desk Order (Correcting Sale Approval and Vesting Order)
Order (Final Distribution, Approval of Activities, Approval of Fees and Disbursements, and Discharge of Receiver) — Distribution order
The officer filed report no. Amended Receiver's Second Report. The Receiver closed the Court-approved sale of the Lands (the company's only asset) for net proceeds of $2,926,619.63, cancelled insurance and utilities, and is seeking approval of a distribution to Roynat (which will suffer a shortfall) and its own discharge.
Source: Amended Receiver's Second Report
Application (Final Distribution, Approval of Activities, Approval of Fees and Disbursements, and Discharge of Receiver) — Application / notice of application
Approval and vesting order of July 3, 2026 approved the Transaction and authorized the Receiver's execution of the June 18, 2026 Purchase Agreement with Blackstone Drilling Fluids Limited.
Further order of July 3, 2026 authorized vesting of the Debtor's right, title and interest in the assets described in the Purchase Agreement on delivery of the Receiver's Closing Certificate.
Interim order pronounced July 3, 2026, with the Confidential Supplement to the Receiver's First Report, containing the Purchase Agreement, standing under seal.
Source: Sealing Order
The officer filed report no. First Report. The Receiver has maintained insurance, security checks and winterization of the Lands (the Company's only asset; it has no employees) and is seeking court approval of a sale of the Lands to Blackstone Drilling Fluids Limited following a listing process.
Source: Receiver's First Report
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
Outcome brief
1901467 Alberta: a $3 million sale, and a shortfall for Roynat
An industrial property on Range Road 62 in the County of Grande Prairie sold to Blackstone Drilling Fluids for $3,000,000; Roynat, owed about $2,761,866, takes $2,751,242.54 plus its $40,000 receiver's certificate, CRA's $34,815.28 GST deemed trust ranks behind the mortgage, and a related company's bankrupt estate is repaid $39,814.54 for keeping the building. Justice Neilson approved the distribution and EY's discharge on September 15, 2026.
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 985 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 | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
4 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale 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 | Subscribers | Closed | Amended Receiver's Second Report |
Unsecured creditors: no distribution. BNS a distribution · Roynat Inc. a distribution.EstimatedReceiver's Second Report · 3 Sep 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | BNS | — | per the receiver | Application (Final Distribution, Approval of Activities, Approval of… · 3 Sep 2026 | |
| Secured | Roynat Inc. | — | conditional | 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 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans2 engagements · 2 firms — latest: Ernst & Young Inc., 18 Jul 2025 – 6 Aug 2026, soughtReceiver's Second Report · 4 Sep 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Ernst & Young Inc.Receiver | 18 Jul 2025 – 6 Aug 2026Sought | — | not stated | Receiver's Second Report · 4 Sep 2026 | |
| MLT Aikins LLPCounsel to the receiver | to 31 Jul 2026Sought | — | not stated | Receiver's Second Report · 4 Sep 2026 |
2 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$3.05M
As at 20 Aug 2026Amended Receiver's Second Report
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the total 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 |
|---|---|---|
Affidavit
| PDF · Subscribers | |
Desk Application Without Notice (Order Correcting Sale Approval and Vesting Order)
| PDF · Subscribers | |
Desk Order (Correcting Sale Approval and Vesting Order)
| PDF · Subscribers | |
Order (Final Distribution, Approval of Activities, Approval of Fees and Disbursements, and Discharge of Receiver)
| PDF · Subscribers | |
Amended Receiver's Second Report
| PDF · Subscribers | |
Application (Final Distribution, Approval of Activities, Approval of Fees and Disbursements, and Discharge of Receiver)
| PDF · Subscribers | |
Receiver's Second Report
| PDF · Subscribers | |
Sale Approval and Vesting Order (Sale by Receiver)
| PDF · Subscribers | |
| Notice to Media of Application to Restrict Access | PDF · Subscribers | |
Order - Receiver's Activities
| PDF · Subscribers | |
Sealing Order
| PDF · Subscribers | |
Application (Sale Approval and Vesting Order, Temporary Sealing Order, and Order Approving Activities)
| PDF · Subscribers | |
Receiver's First Report
| PDF · Subscribers | |
2503-13231-Filed-2025-07-24-Consent Receivership Order
| PDF · Subscribers | |
Notice and Statement of Receiver
| 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., “1901467 Alberta Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/1901467-alberta-ltd