BOE Energy Systems Ltd.
- Proceeding
- NOIsubsection 50.4 (1) of the Bankruptcy and Insolvency Act
- File
- 25-1686887
- Industry
- Energy · Oilfield services
BOE Energy Systems Ltd. filed a Notice of Intention on November 14, 2012, under subsection 50.4(1) of the Bankruptcy and Insolvency Act, with Grant Thornton Alger Inc. named trustee (file no. 25-1686887). The company's list of creditors with claims of $250 or more, filed with the notice, includes $750,000.00, $510,000.00, $500,000.00 and $491,765.00 owed to Business Bank Development, $782,304.09 and $549,879.42 owed to Royal Bank of Canada with no security stated, a $600,000.00 vendor take-back debt to J&A Vendor Take Back, and further claims from dozens of oilfield-service and trade creditors, including GARNEAU at $334,308.82 and Finning Canada at $163,026.04.
The officer filed a report. BOE's proposal contemplates continuing operations while restructuring liabilities, paying secured lenders outside the proposal, paying Crown and Preferred claims in full, and issuing common shares to ordinary unsecured creditors.
The officer filed report no. Trustee's First Report to the Creditors. BOE is a private oil and gas service company renting dewatering and well site fluid management systems. It continues to operate while restructuring under a proposal, with its two primary secured lenders (RBC and BDC) paying interest only until March 2013 and supporting the proposal.
The officer filed report no. First Report. The company continues operating under the NOI stay, renting dewatering and well site fluid management systems with about 12 staff, while preparing a proposal to creditors. The trustee supports a 45-day extension, saying operating results show no material adverse change from projected cash flow. Court file 25-1686887.
Source: First Extension Report of the Trustee – December 7, 2012
BOE Energy Systems Ltd. filed a Notice of Intention under the Bankruptcy and Insolvency Act on November 14, 2012, naming Grant Thornton Alger Inc. trustee.
Source: Certificate of Filing Notice of Intention - November 14, 2012
Debtor
BOE Energy Systems Ltd.
Proposal trustee
Doane Grant Thornton
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Royal Bank of Canada · in 584 casesas of NOI filing date — Separate listed claim from prior RBC entry; no security stated — debtor: BOE Energy Systems Ltd. | $782K | Creditor Package - Notice of Intention - November 15, 2012 |
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured |
61 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.Report of Trustee on Proposal – February 20, 2013 · 20 Feb 2013
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the plansanctionedper the trustee | Report of Trustee on Proposal – February 20, 2013 · 20 Feb 2013 |
| Secured | Affected Secured Creditor | — | a distribution | per the trustee | Report of Trustee on Proposal – February 20, 2013 · 20 Feb 2013 |
| Preferred | — | — | paid in full | per the trustee | Report of Trustee on Proposal – February 20, 2013 · 20 Feb 2013 |
| Unsecured | — | — | a distributionconditional | per the trustee | Report of Trustee on Proposal – February 20, 2013 · 20 Feb 2013 |
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 ·
Cash on hand
$77.5K
As at 30 Nov 2012Trustee's Report on the Proposal - January 24, 2013
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 |
|---|---|---|
Order Approving Proposal – March 6, 2013
| PDF · Subscribers | |
Report of Trustee on Proposal – February 20, 2013
| PDF · Subscribers | |
| Notice of Hearing to Approve Proposal – February 14, 2013 | PDF · Subscribers | |
Creditor Package - January 28, 2013
| PDF · Subscribers | |
Trustee's Report on the Proposal - January 24, 2013
| PDF · Subscribers | |
| Proposal - January 23, 2013 | PDF · Subscribers | |
Court Order Approving Extension of NOI – December 11, 2012
| PDF · Subscribers | |
First Extension Report of the Trustee – December 7, 2012
| PDF · Subscribers | |
Creditor Package - Notice of Intention - November 15, 2012
| PDF · Subscribers | |
Certificate of Filing Notice of Intention - November 14, 2012
| 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., “BOE Energy Systems Ltd.” (NOI), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/boe-energy-systems-ltd