Free Rein Resources Ltd.
FollowActive
- Proceeding
- CCAACompanies' Creditors Arrangement Act, RSC 1985, c C-36
- File
- 25-2954304
OverviewSummary updated
Free Rein Resources Ltd. remains under CCAA protection in the Court of King's Bench of Alberta at Calgary, court file 25-2954304, following an initial order granted December 7, 2023 on the application of Invico Diversified Income Limited Partnership. FTI Consulting Canada Inc. serves as Monitor. The creditor listing prepared under s. 23(1)(a) of the CCAA, as at December 7, 2023, records Invico as a secured creditor for $1,414,419 and Tartan Energy Tech (Shanghai) Ltd for $33,801, both without admission as to liability or quantum. Unsecured claims run across several hundred oilfield service providers, landowners, individuals and public bodies, the largest being ENMAX Energy Corporation at $543,112, SLS Oilfield Trucking at $415,862, CES LP at $385,095 and Performance Solutions Ltd. at $210,559. The proceedings are active.
Proceedings AIAsk this case — answers cite the filings
Case updates56 dated entries
#Sale
The court granted a reverse vesting order in favour of Invico Diversified Income Limited Partnership.
53 earlier updates, back to 7 December 2023 — subscribers.
Parties
Debtor
Free Rein Resources Ltd.
Monitor
FTI
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hollins | Court of King's Bench of Alberta | 3 orders, Aug 2023 – Feb 2024 | 19 cases on record |
Counsel of record
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Invico Diversified Income Limited PartnershipListed as secured creditor in CCAA s.23(1)(a) creditor listing; amount as reported, without admission as to liability or quantum — debtor: Free Rein Resources Ltd. · as of 7 Dec 2023 | $1.41M | Creditor Listing |
184 more claims across lower-ranking classesSubscribe to view
Sale processAs stated in the filings
2 transactions · 1 proposed · 1 closed — The RVO Term Sheet, Subscription Agreement and Transaction are approved by the CourtTransaction Approval and Reverse Vesting Order · 12 Apr 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Invico Income Limited Partnershipall of Free Rein's oil and gas assets either by way of asset purchase or by share transaction · assets and shares · ResidualCo: Free Rein Asset Residual Trust | Subscribers | Proposedoutside 11 Dec 2023 | First Report of the Monitor |
| Invico Diversified Income Limited Partnershipthe reverse vesting share transaction in respect of Free Rein Resources Ltd. · share sale · nominee/assignee: its nominee | Subscribers | Closed26 Apr 2024 | Monitor's Certificate |
AdvisorsFTI Consulting Canada Inc. (sale agent); Dustin Olver (financial advisor); Brett Wilson (financial advisor); Hailey Liu (financial advisor)Teaser Letter
Closing termsVesting and closing occur upon delivery of the Monitor's Certificate, at which point the Transferred Assets vest in the Residual Trust and Transferred Liabilities are assumed by the Residual TrustTransaction Approval and Reverse Vesting Order
RecoveriesAs stated in the filings
Unsecured creditors: no distribution.EstimatedPre Filing Report of the Monitor · 6 Dec 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the monitor | Pre Filing Report of the Monitor · 6 Dec 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
Cash on hand
$111K
As at 15 Feb 2024Second Report of the Monitor
1 more reported figure, as at 15 Feb 2024Subscribe to view
Documents
56 filings
| Date | Document | File |
|---|---|---|
Monitor's Certificate
| PDF · Subscribers | |
Transaction Approval and Reverse Vesting Order
| PDF · Subscribers | |
Service Letter to Service List, February 27, 2024
| PDF · Subscribers | |
Order - Approval of Monitor's Fee and Conduct
| PDF · Subscribers | |
Order - Stay Extension
| PDF · Subscribers | |
| Supplement to Affidavit No. 3 of Chris Wutzke | PDF · Subscribers | |
| Application for Approval of Monitor's Fees and Conduct | PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
Service Letter to Service List, February 15, 2024
| PDF · Subscribers | |
| Application for Stay Extension | PDF · Subscribers | |
| Authorities to Invico's Brief | PDF · Subscribers | |
| Brief of Invico | PDF · Subscribers | |
| Service Letter to Service List, February 12, 2024 | PDF · Subscribers | |
| Affidavit No. 3 of Chris Wutzke | PDF · Subscribers | |
Application for Sale Approval and Vesting Order
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
Service Letter to Service List, January 17, 2024
| PDF · Subscribers | |
| Affidavit No. 2 of Chris Wutzke | PDF · Subscribers | |
Creditor Listing
| PDF · Subscribers | |
| Notice to Creditors | PDF · Subscribers | |
| Amended and Restated Initial Order ("ARIO") | PDF · Subscribers | |
CCAA Initial Order
| PDF · Subscribers | |
| Affidavit of Chris Wutzke - sworn December 4, 2023 | PDF · Subscribers | |
| Application (Amended and Restated Initial Order) | PDF · Subscribers | |
| Originating Application | PDF · Subscribers | |
Pre Filing Report of the Monitor
| PDF · Subscribers | |
Fourth Stay Extension ro File a Proposal
| PDF · Subscribers | |
| Fourth Report of the Proposal Trustee | PDF · Subscribers | |
| Affidavit No.4 of Terry McCallum | PDF · Subscribers | |
| NOI - Application for Fourth Stay Extension | PDF · Subscribers | |
Service Letter to Service List, November 16, 2023
| PDF · Subscribers | |
Order (Third Stay Extension to File a Proposal)
| PDF · Subscribers | |
Third Report of the Proposal Trustee
| PDF · Subscribers | |
| NOI - Affidavit No.3 of Terry McCallum | PDF · Subscribers | |
| NOI - Application for Third Stay Extension | PDF · Subscribers | |
| NOI - Bench Brief (Third Stay Extension) | PDF · Subscribers | |
Service Letter to Service List, September 26, 2023
| PDF · Subscribers | |
| Free Rein - Form of NDA | PDF · Subscribers | |
Teaser Letter
| PDF · Subscribers | |
SISP Procedure
| PDF · Subscribers | |
Service Letter to Service List, August 30, 2023
| PDF · Subscribers | |
Order (Second Extension of Time to File Proposal, SISP & Stalking Horse Approval)
| PDF · Subscribers | |
Second Report of the Proposal Trustee
| PDF · Subscribers | |
| NOI - Affidavit No.2 of Terry McCallum | PDF · Subscribers | |
| NOI - Affidavit No.2 of Terry McCallum - Proof of Filing | PDF · Subscribers | |
NOI - Application for Second Stay Extension
| PDF · Subscribers | |
| NOI - Application for Second Stay Extension - Proof of Filing | PDF · Subscribers | |
Order (Approval of Administration Charge and Extension of Time to File Proposal)
| PDF · Subscribers | |
| First Report of the Proposal Trustee | PDF · Subscribers | |
| NOI - Affidavit No.1 of Terry McCallum, Sworn July 4, 2023 | PDF · Subscribers | |
NOI - Application for First Stay Extension
| PDF · Subscribers | |
| NOI - Book of Authorities | PDF · Subscribers | |
NOI - Brief in Support of Stay Extension and Admin Charge
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Creditor Notice - Free Rein | PDF · Subscribers | |
| Certificate of Filing | 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., “Free Rein Resources Ltd.” (CCAA), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/free-rein-resources-ltd