CUDA Oil and Gas Incorporated
FollowClosed
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- 2101-14158
Filings held17
Last activity10 Feb 2023
On the record1,768 days
Secured debt$56.6M
OverviewSummary updated
Cuda Oil and Gas Incorporated was placed in court-appointed receivership on November 18, 2021 under Court of King's Bench of Alberta file 2101-14158, on the basis of s. 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act jurisdiction. The receivership extends to Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. As at the date of the order, Tallinn Capital Energy Limited Partnership was owed in excess of $13,679,876.72 and PricewaterhouseCoopers Inc., as receiver of Bridging Finance Inc., in excess of $56,571,880.10. An unsecured creditor listing as at November 25, 2021 shows claims led by Southwestern Production Corp. at $2,802,179.76 and Borden Ladner Gervais LLP at $575,946.92. The proceeding is closed.
Proceedings AIAsk this case — answers cite the filings
Case updates17 dated entries
#Filing
Application (Final Distribution, Approval of Receiver's Fees and Disbursements, Approval of Receiver's Activities and Discharge of Receiver) — Application / notice of application
#Sale
Approval and Vesting Order (Sale by Receiver to Blue Sky Resources Ltd.) — Approval and vesting order
#Sale
Approval and Vesting Order (Sale by Receiver to COPL America Inc.) — Approval and vesting order
#Sale
Application (Sale Approval and Vesting, Interim Distribution and Restricting Court Access) — Approval and vesting order
#Order
Receivership order granted over Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc., commencing the proceeding in Alberta file 2101-14158.
Source: Receivership Order
Parties
Debtor
CUDA Oil and Gas Incorporated
Receiver
FTI
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Horner | Court of King's Bench of Alberta | 2 orders, Nov 2021 – Feb 2023 | 50 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFTI | Bennett Jones LLP | 26 Nov 2021 | Service list · 26 Nov 2021 |
| ReceiverPricewaterhouseCoopers Inc | Dla Piper LLP | 26 Nov 2021 | Service list · 26 Nov 2021 |
| CreditorPwC | Rubin & Christie LLP | 26 Nov 2021 | Service list · 26 Nov 2021 |
| CreditorTallinn Capital Energy Limited Partnership, by its general partner Tallinn Capital Energy Corp | Blakes Cassels & Graydon LLP | 26 Nov 2021 | Service list · 26 Nov 2021 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | PricewaterhouseCoopers Inc., in its capacity as receiver of Bridging Finance Inc.Stated as 'in excess of' this amount; treated as a floor per document wording. — debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 18 Nov 2021 | $56.6M | Notice and Statement of the Receiver |
| 4 | Secured | Tallinn Capital Energy Limited Partnership · in 2 casesStated as 'in excess of' this amount; treated as a floor per document wording. — debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 18 Nov 2021 | $13.7M | Notice and Statement of the Receiver |
| 8 | Unsecured | Southwestern Production Corp.debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $2.8M | Notice and Statement of the Receiver |
| 8 | Unsecured | Borden Ladner Gervais LLP · in 28 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $576K | Notice and Statement of the Receiver |
| 8 | Unsecured | KPMG LLP · in 51 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $43.8K | Notice and Statement of the Receiver |
| 8 | Unsecured | Jeremie LavoieIndividual named as creditor. — debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $39.6K | Notice and Statement of the Receiver |
| 8 | Unsecured | Doug Alder Consultantdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $38.9K | Notice and Statement of the Receiver |
| 8 | Unsecured | Deirdre BurkeIndividual named as creditor; possibly personal claimant. — debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $38.7K | Notice and Statement of the Receiver |
| 8 | Unsecured | Independent Trading Group (ITG) Inc. · in 8 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $35K | Notice and Statement of the Receiver |
| 8 | Unsecured | IHS Markit Canada ULC · in 5 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $34.1K | Notice and Statement of the Receiver |
| 8 | Unsecured | Ryder Scott Company L.P.debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $31.5K | Notice and Statement of the Receiver |
| 8 | Unsecured | Ken YeeIndividual named as creditor. — debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $31.3K | Notice and Statement of the Receiver |
| 8 | Unsecured | Huron Transaction Advisory LLCdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $31.1K | Notice and Statement of the Receiver |
| 8 | Unsecured | Intrado Digital Media Canada, Inc. · in 3 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $25.2K | Notice and Statement of the Receiver |
| 8 | Unsecured | Baker & Hostetler LLPdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $25K | Notice and Statement of the Receiver |
| 8 | Unsecured | PrairieSky Royalty Ltd. · in 7 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $20.7K | Notice and Statement of the Receiver |
| 8 | Unsecured | P2ES Holdings LLC 2692debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $20.1K | Notice and Statement of the Receiver |
| 8 | Unsecured | Donnelley Financial Solutions Canada Corp. · in 2 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $16.3K | Notice and Statement of the Receiver |
| 8 | Unsecured | Business Wire Canada · in 4 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $13K | Notice and Statement of the Receiver |
| 8 | Unsecured | Pandell Technology Corporation · in 14 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $12.5K | Notice and Statement of the Receiver |
| 8 | Unsecured | Sproule Associates Limited · in 5 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $7.44K | Notice and Statement of the Receiver |
| 8 | Unsecured | Streetwise Investors Club Inc.debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $7.12K | Notice and Statement of the Receiver |
| 8 | Unsecured | Beatty & Wozniak, P.C.debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $4.78K | Notice and Statement of the Receiver |
| 8 | Unsecured | Robin PageIndividual named as creditor. — debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $3.8K | Notice and Statement of the Receiver |
| 8 | Unsecured | Ville De BecancourMunicipality; possible property tax/municipal claim. — debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $3.2K | Notice and Statement of the Receiver |
| 8 | Unsecured | 3ES Innovation Inc. · in 3 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $3.12K | Notice and Statement of the Receiver |
| 8 | Unsecured | TSX Trust Company · in 14 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $1.97K | Notice and Statement of the Receiver |
| 8 | Unsecured | ABC-Amegadebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $1.82K | Notice and Statement of the Receiver |
| 8 | Unsecured | Gestabdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $1.68K | Notice and Statement of the Receiver |
| 8 | Unsecured | Streamline Energy Group · in 4 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $1.65K | Notice and Statement of the Receiver |
| 8 | Unsecured | Extreme Steam Inc.debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $1.63K | Notice and Statement of the Receiver |
| 8 | Unsecured | RGO Technologies Inc. · in 5 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $1.18K | Notice and Statement of the Receiver |
| 8 | Unsecured | Taber Excavating Ltd.debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $876 | Notice and Statement of the Receiver |
| 8 | Unsecured | Wheatland County · in 2 casesMunicipality; possible property tax/municipal claim. — debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $845 | Notice and Statement of the Receiver |
| 8 | Unsecured | Emelson Oilfield Hauling Ltd.debtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $780 | Notice and Statement of the Receiver |
| 8 | Unsecured | Instel Controlsdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $660 | Notice and Statement of the Receiver |
| 8 | Unsecured | Centre D'Alignement etdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $637 | Notice and Statement of the Receiver |
| 8 | Unsecured | Air Liquide Canada Inc. · in 78 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $518 | Notice and Statement of the Receiver |
| 8 | Unsecured | Vital Business Systems · in 2 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $496 | Notice and Statement of the Receiver |
| 8 | Unsecured | ADN Communicationdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $315 | Notice and Statement of the Receiver |
| 8 | Unsecured | H2Safety Services Inc. · in 2 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $315 | Notice and Statement of the Receiver |
| 8 | Unsecured | Octave X Oscardebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $310 | Notice and Statement of the Receiver |
| 8 | Unsecured | Newsfile Corp. · in 2 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $218 | Notice and Statement of the Receiver |
| 8 | Unsecured | Le Groupe Ohmega Incdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $129 | Notice and Statement of the Receiver |
| 8 | Unsecured | Lynx Energy ULC · in 2 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $53 | Notice and Statement of the Receiver |
| 8 | Unsecured | Government of Alberta · in 19 casesdebtor: Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. · as of 25 Nov 2021 | $5 | Notice and Statement of the Receiver |
RecoveriesAs declared or paid
Unsecured creditors: no distribution. Bridging Finance Inc a distribution.EstimatedThird Report of the Receiver · 30 Jan 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredPwC as receiver of BFI (BFI Debt) | Bridging Finance Inc | — | a distributioninterimconditional | Estimatedper the receiver | Second Report of the Receiver · 20 Apr 2022 |
| SecuredBFI Debt | PwC (as receiver of Bridging Finance Inc.) | — | short by $48Mfinal | Estimatedper the receiver | Third Report of the Receiver · 30 Jan 2023 |
| Secured | Tallinn Capital Energy Limited Partnership | — | paid in full | Finalper the receiver | Third Report of the Receiver · 30 Jan 2023 |
| Unsecured | subordinate or unsecured creditors | — | no distribution | Estimatedper the receiver | Third Report of the Receiver · 30 Jan 2023 |
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.
Estate financialsReported figures — never derived
Total assets at filing$56.7B
As at 30 Jun 2021 · per Book value as stated in the financial statements of the Debtor; not audited, reviewed, or verified by the Receiver; Receiver provides no comment on realizable value · Combined - Cuda Oil and Gas Inc., Cuda Energy Inc., Cuda Energy LLC and Junex Inc. — Figures stated in thousands of Canadian dollars per document header; converted to full dollar amount.
Documents
17 filings
| Date | Document | File |
|---|---|---|
Order for Final Distribution, Approval of Receiver's Fee and Disbursement, Approval of Receiver's Activities and Discharge of Receiver.
| ||
Application (Final Distribution, Approval of Receiver's Fees and Disbursements, Approval of Receiver's Activities and Discharge of Receiver)
| ||
Third Report of the Receiver
| ||
| Approval and Vesting Order (Sale by Receiver to Blue Sky Resources Ltd.) | ||
| Approval and Vesting Order (Sale by Receiver to COPL America Inc.) | ||
| Order (Approving Receiver's Activities and Authorizing Interim Distributions) | ||
Order Restricting Court Access
| ||
| Application (Sale Approval and Vesting, Interim Distribution and Restricting Court Access) | ||
Second Report of the Receiver
| ||
| US Sales Process - Dec 2021 | ||
| First Report of the Receiver | ||
Service List
| ||
Notice and Statement of the Receiver
| ||
| Affidavit of Robb Cacovic - sworn November 16, 2021 | ||
| Canadian Sales Process - Dec 2021 | ||
| Notice of Application | ||
Receivership Order
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “CUDA Oil and Gas Incorporated” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/cuda-oil-and-gas-incorporated