Blendforce

BlendForce Energy Services Inc. was placed in court-appointed receivership under s. 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority by an order pronounced August 18, 2017 in the Court of Queen's Bench of Alberta, file 1701-10909. The Receiver's notice and statement put the amount owing to the holder of security on the Property at approximately $256,802 as of the date of the order, owed to a party identified only as the Secured Lender. On the debtor's unaudited entity-level statements as at October 31, 2016, book-value assets stood at $2,032,000, consisting entirely of property, plant and equipment, with nil cash, nil accounts receivable and nil deposits and prepaid expenses; the Receiver did not verify those figures or comment on realizable value. The proceeding is closed.