Athabasca Minerals Inc., 2132561 Alberta Ltd., 2140534 Alberta Ltd., AMI Aggregates Inc., AMI RockChain Inc., AMI Silica Inc. and TerraShift Engineering Ltd.
Follow- Proceeding
- NOIthe Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended
- File
- 25-3009380
Athabasca Minerals Inc., together with AMI Silica Inc., AMI Aggregates Inc., AMI RockChain Inc., TerraShift Engineering Ltd., 2132561 Alberta Ltd. and 2140534 Alberta Ltd., each filed a notice of intention to make a proposal to creditors on November 13, 2023 under Part III of the Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended. The proceedings are before the Court of King's Bench of Alberta, in Bankruptcy and Insolvency, under court file number 25-3009380, and remain active. A preliminary list of creditors submitted by AMI Silica Inc., without admission as to liability, records JMAC Energy Services LLC c/o Field LLP as a secured creditor for CAD 2,000,000 and the Department of Finance Canada as an unsecured creditor for CAD 60,000, each as of November 13, 2023.
Interim Distribution Application filed November 12, 2025 — Application / notice of application
The officer filed report no. First Report of KSV Restructuring Inc. as Trustee in Bankruptcy. ResidualCo has no ongoing business operations; the Trustee is winding down the bankruptcy estate by resolving creditor claims, addressing complex tax issues (TCP/PUC/vesting) arising from the RVO transaction, and seeking Court approval to make further interim distributions to creditors and equity claimants before eventual discharge.
The court granted a reverse vesting order in favour of Badger Mining Corporation.
Source: Transaction Approval Order re Backup Bid dated April 19, 2024
The court granted a reverse vesting order.
Source: Transaction Approval Reverse Vesting Order dated April 19, 2024
Application for Approval of Settlement Agreement dated April 8, 2024 — Application / notice of application
Application of JMAC Energy Services Inc. returnable March 8, 2024 — Application / notice of application
Authorities to the Brief of the Applicant Approval of Sale and Reverse Vesting Order Filed February 28, 2024 — Reverse vesting order
Application for Approval of Sale and Reverse Vesting Order Filed February 27, 2024 — Reverse vesting order
Brief of the Applicants Approval of Sale and reverse Vesting Order dated February 27, 2024 — Reverse vesting order
Notice of Application for Various Relief (Filed January 15 2024) — Application / notice of application
Athabasca Minerals Inc. - NOI Notice to Creditors dated November 15, 2023 — Notice to creditors
TerraShift Engineering Ltd. - NOI Notice to Creditors dated November 15, 2023 — Notice to creditors
2132561 Alberta Ltd. - Certificate for the Notice of Intention - 25-3009389 — NOI certificate of filing
2140534 Alberta Ltd. - Certificate for the Notice of Intention - 25-3009398 — NOI certificate of filing
AMI Aggregates Inc. - Certificate for the Notice of Intention - 25-3009386 — NOI certificate of filing
AMI RockChain Inc. - Certificate for the Notice of Intention - 25-3009385 — NOI certificate of filing
AMI Silica Inc. - Certificate for the Notice of Intention - 25-3009384 — NOI certificate of filing
Athabasca Minerals Inc - Certificate for the Notice of Intention - 25-3009380 — NOI certificate of filing
TerraShift Engineering Ltd. - Certificate for the Notice of Intention - 25-3009380 — NOI certificate of filing
Each of the seven applicants filed a notice of an intention to file a proposal under Part III of the Bankruptcy and Insolvency Act, commencing the proceedings.
Source: Application for Replacement DIP Approval dated March 4, 2024
The filings put each applicant's proposal to its creditors in train, with AMI Silica Inc. submitting a preliminary creditor list without admission as to liability.
Source: Notice of Application for Various Relief dated December 12, 2023
Debtor
Athabasca Minerals Inc., 2132561 Alberta Ltd., 2140534 Alberta Ltd., AMI Aggregates Inc., AMI RockChain Inc., AMI Silica Inc. and TerraShift Engineering Ltd.
Proposal trustee
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Johnston | Court of King's Bench of Alberta | 2 orders, Nov 2025 | 32 cases on record |
| Justice Neilson | Court of King's Bench of Alberta | 2 orders, Apr 2024 | 44 cases on record |
| Justice Little | Court of King's Bench of Alberta | 2 orders, Mar 2024 | 39 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeKSV Restructuring Inc | Bennett Jones LLP | 11 Nov 2025 | Service list · 11 Nov 2025 |
| DebtorAthabasca Minerals Inc., 2132561 Alberta Ltd., 2140534 Alberta Ltd., AMI Aggregates Inc., AMI RockChain Inc., AMI Silica Inc. and TerraShift Engineering Ltd. | Fasken Martineau DuMoulin LLP | 11 Nov 2025 | Service list · 11 Nov 2025 |
| CreditorAuditors to (Grant Thornton) | Blake, Cassels & Graydon LLP | 11 Nov 2025 | Service list · 11 Nov 2025 |
| CreditorInterested (Badger Mining Corporation) | Blake, Cassels & Graydon LLP | 11 Nov 2025 | Service list · 11 Nov 2025 |
| Secured creditorJMAC Energy Services LLC | Field Law | 11 Nov 2025 | Service list · 11 Nov 2025 |
| CreditorMaster Plan Investment Limited (Shareholder debtholder) | Miller Thomson LLP | 4 Mar 2024 | Application · 4 Mar 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | JMAC Energy Services LLC c/o Field LLPPreliminary list of creditors as submitted by AMI Silica Inc., without admission as to liability — debtor: AMI Silica Inc. · as of 13 Nov 2023 | $2M | AMI Silica Inc. - NOI Notice to Creditors dated November 15, 2023 |
| 8 | Unsecured | Department of Finance Canadadebtor: AMI Silica Inc. · as of 13 Nov 2023 | $60K | AMI Silica Inc. - NOI Notice to Creditors dated November 15, 2023 |
5 transactions · 2 back-up bid · 1 proposed · 1 closed · 1 not completed — Transaction closed; ResidualCo established, entities exited NOI ProceedingsFirst Report of the Trustee filed November 12, 2025 · 10 Nov 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| JMACStalking horseAMI's membership interest in AMIS LLC; and all of the other assets of AMI · assets and shares | $13M (mixed consideration)comprised of $11,000,000 for AMI's membership interest in AMIS LLC and $2,000,000 for all of the other assets of AMI; paid via non-cash credit bid of amounts owing under the JMAC Facility and the Interim Financing Facility, plus balance in cash on closing | Proposed | First Report of Proposal Trustee dated December… |
| JMAC Energy Services LLCthe sale of the Membership Units held by AMI in AMIS LLC · asset sale · ResidualCo: ResidualCo · agreement 28 Mar 2024 | $24.6M (mixed consideration)$24,600,000 to be paid by a combination of a setoff from the Purchase Price of any other amounts owed by the Vendor to the Purchaser and the remaining outstanding amount to be paid by cash | Back-up bidoutside 12 Mar 2024 | Fourth Report of the Proposal Trustee dated… |
| JMAC Resources Ltd.a transaction for the sale of all of the shares of AMI to JMAC Resources Ltd. · share subscription · agreement 28 Mar 2024 | $4.5M (mixed consideration)Aggregate consideration for the Purchased Shares which is the total of: $4,500,000; and any amounts payable pursuant to article 7.10 of the Subscription Agreement that are determined to be a Disclaimer Liability, plus an Escrow Amount of $500,000 | Back-up bid | Fourth Report of the Proposal Trustee dated… |
| Badger Mining CorporationStalking horsethe reverse vesting share transaction (the "Transaction") in respect of AMI · share subscription · agreement 9 Feb 2024 | $29.1MBadger's final bid at auction of $29,100,000 was deemed the successful bid; net consideration of $21,954,189.12 was transferred to ResidualCo after payment of priority charges and other court ordered payments | Closed26 Apr 2024 | First Report of the Trustee filed November 12,… |
| JMAC Energy Services LLCStalking horsecertain of the Companies' Property or its shares, as detailed in the Stalking Horse Term Sheet · share subscription · agreement 5 Dec 2023 | $13.2Mstalking horse bid, superseded by Badger's higher bid at auction | Not completed | First Report of the Trustee filed November 12,… |
Unsecured creditors: $4.15M. JMAC paid in full.FinalFirst Report of the Trustee filed November 12, 2025 · 10 Nov 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | $4.15Mproven | $4.15Minterim | Finalper the trustee | First Report of the Trustee filed November 12, 2025 · 10 Nov 2025 |
| UnsecuredCompanies' creditors | JMAC | — | paid in fullconditional | Estimatedper the debtor | Application for Replacement DIP Approval · 4 Mar 2024 |
| Equity | Equity claimants (Interim Equity Distribution) | — | $8Minterimconditional | per the trustee | First Report of the Trustee filed November 12, 2025 · 10 Nov 2025 |
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.
As at 14 May 2024 · per Statement of Affairs (unaudited) · 2585929 Alberta Ltd. (ResidualCo) bankruptcy estate — Assets consisted solely of cash proceeds from the Transaction as at the date of Bankruptcy; Proven (ordinary) Claims totaled $4,150,985 (Employees $1,416,077 / non-Employees $2,734,908); allowed portion of Disputed Claims totaled $3,186,839; as at November 8, 2025 the Trustee held cash of $18,170,512.24 after disbursements and the First Interim Distribution.
Cumulative receipts
$22.8M
As at 12 Nov 2025First Report of the Trustee filed November 12, 2025
Cumulative disbursements
$4.66M
As at 12 Nov 2025First Report of the Trustee filed November 12, 2025
Cash on hand
$18.2M
As at 12 Nov 2025First Report of the Trustee filed November 12, 2025
Professional fees to date
$227K
As at 12 Nov 2025First Report of the Trustee filed November 12, 2025
| Date | Document | File |
|---|---|---|
Adjournment and Interim Distributions Order filed November 28, 2025
| ||
Adjournment and Interim Distributions Order dated November 19, 2025
| ||
| Brief of the Trustee (with authorities) filed November 12, 2025 | ||
First Report of the Trustee filed November 12, 2025
| ||
Interim Distribution Application filed November 12, 2025
| ||
Service list dated November 11, 2025
| ||
| Shareholder Memo - 2585929 AB Ltd | ||
| Notice of Bankruptcy and First Meeting of Creditors dated May 21, 2024 | ||
Proposal Trustee's Certificate filed April 29, 2024
| ||
Court Order re Approval of Settlement Agreement dated April 19, 2024
| ||
Stay Extension Order dated April 19, 2024
| ||
Transaction Approval Order re Backup Bid dated April 19, 2024
| ||
Transaction Approval Reverse Vesting Order dated April 19, 2024
| ||
Fourth Report of the Proposal Trustee dated April 15, 2024
| ||
| Affidavit No. 5 of John David Churchill sworn April 8, 2024 | ||
Application for Approval of Settlement Agreement dated April 8, 2024
| ||
| Bench Brief and Authorities of the Applicants dated April 8, 2024 | ||
| Application of JMAC Energy Services Inc. returnable March 8, 2024 | ||
| Book of Authorities of JMAC Energy Services re March 8, 2024 Application with Cases | ||
| Brief of JMAC Energy Services re March 8, 2024 Application | ||
Replacement Interim Financing Order dated March 8, 2024
| ||
Stay Extension and Litigation Schedule Order dated March 8, 2024
| ||
| Webex Details re March 8, 2024 AMI Call | ||
| Supplement to Third Report of Proposal Trustee dated March 7 2024 | ||
| Affidavit No. 4 of John David Churchill, Sworn Mar. 4, 2024 | ||
Application for Replacement DIP Approval dated March 4, 2024
| ||
| Supplemental Brief and Authorities dated March 4, 2024 | ||
| Affidavit of Todd Erickson sworn February 29, 2024 | ||
Third Report of the Proposal Trustee dated February 29, 2024
| ||
| Authorities to the Brief of the Applicant Approval of Sale and Reverse Vesting Order Filed February 28, 2024 | ||
| Affidavit No. 3 of John David Churchill Filed February 27, 2024 | ||
| Application for Approval of Sale and Reverse Vesting Order Filed February 27, 2024 | ||
| Brief of the Applicants Approval of Sale and reverse Vesting Order dated February 27, 2024 | ||
Stay Extension Order dated January 26, 2024
| ||
Second Report of the Proposal Trustee dated January 19, 2024
| ||
AMI Brief and Authorities as at January 15, 2024
| ||
| Affidavit No. 2 of John David Churchill sworn January 15, 2024 | ||
Notice of Application for Various Relief (Filed January 15 2024)
| ||
Court Order dated December 12, 2023
| ||
Notice of Application for Various Relief dated December 12, 2023
| ||
SISP
| ||
Teaser
| ||
| Affidavit of Todd Erickson sworn December 8, 2023 | ||
First Report of Proposal Trustee dated December 8, 2023
| ||
| Supplemental Affidavit of John David Churchill Sworn December 8, 2023 | ||
| Affidavit of John David Churchill Sworn December 6, 2023 | ||
| Brief and Authorities of Athabasca dated December 6, 2023 | ||
| 2132561 Alberta Ltd. - NOI Notice to Creditors dated November 15, 2023 | ||
| 2140534 Alberta Ltd. - NOI Notice to Creditors dated November 15, 2023 | ||
| AMI Aggregates Inc. - NOI Notice to Creditors dated November 15, 2023 | ||
| AMI RockChain Inc. - NOI Notice to Creditors dated November 15, 2023 | ||
AMI Silica Inc. - NOI Notice to Creditors dated November 15, 2023
| ||
| Athabasca Minerals Inc. - NOI Notice to Creditors dated November 15, 2023 | ||
| TerraShift Engineering Ltd. - NOI Notice to Creditors dated November 15, 2023 | ||
| 2132561 Alberta Ltd. - Certificate for the Notice of Intention - 25-3009389 | ||
| 2140534 Alberta Ltd. - Certificate for the Notice of Intention - 25-3009398 | ||
| AMI Aggregates Inc. - Certificate for the Notice of Intention - 25-3009386 | ||
| AMI RockChain Inc. - Certificate for the Notice of Intention - 25-3009385 | ||
| AMI Silica Inc. - Certificate for the Notice of Intention - 25-3009384 | ||
| Athabasca Minerals Inc - Certificate for the Notice of Intention - 25-3009380 | ||
| TerraShift Engineering Ltd. - Certificate for the Notice of Intention - 25-3009380 | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Athabasca Minerals Inc., 2132561 Alberta Ltd., 2140534 Alberta Ltd., AMI Aggregates Inc., AMI RockChain Inc., AMI Silica Inc. and TerraShift Engineering Ltd.” (NOI), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/athabasca-minerals-inc-2132561-alberta-ltd-2140534-alberta-ltd-ami-aggregates-in