Green Impact Partners Inc. and seven related entities
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- 2501-19989
Green Impact Partners Inc. and seven related entities, including Green Impact Partners Holding Ltd., Transition Energy Inc. and Akira Infrastructure LLC, remain under CCAA protection before the Court of King's Bench of Alberta, with Ernst & Young Inc. as Monitor. The commencing order was pronounced February 4, 2026, and an Amended and Restated Initial Order together with approval of a sale process followed on February 23. The Debtors operate water, solids and hydrocarbon treatment facilities in Alberta and Saskatchewan and are pursuing renewable natural gas and bioenergy projects in North America. Bids under the sale process were due May 28, 2026. The Monitor has reported that the Companies maintained sufficient liquidity through the second cash flow forecast period. Two further orders were pronounced on July 21, 2026, on applications that included a Key Employee Retention Program and a $397,500 KERP Charge.
Claims must be filed by
Per the 011. Claims Process Order dated 21 October 2026.
Order pronounced approving a claims process covering Green Impact Partners Inc. and the seven related entities, supervised by the Court of King's Bench of Alberta.
Source: Claims Process Order
The stay of proceedings, previously extended to October 30, 2026, was carried through to January 29, 2027, with Ernst & Young Inc. continuing as monitor.
Claims process approved with a claims bar date of December 18, 2026; the stay of proceedings was extended to January 29, 2027.
Source: 011. Claims Process Order
Order pronounced terminating the sale and investment solicitation process approved on February 23, 2026, the GIOC share transaction having closed and National Bank of Canada having been repaid in full.
Source: 012. SISP Termination Order
Claims process approved, the Debtors having no operating revenue after the closing and holding remaining assets limited to residual shareholdings while restructuring options are considered.
008. Order (Interim Fee Approval and Approval of Monitors Reports and Activities) — Court officer report
Bench Brief (SARIO, SISP Termination, Claims Process & Stay Extension) — Claims procedure order
Monitor's Fourth Report recorded the August 6, 2026 closing of the sale of Green Impact's GIOC equity to Firefall Energy Inc., the August 13 distribution of $25,131,288.69 repaying National Bank of Canada in full, $919,473 of cash as at October 9, 2026, and $2,804,054.68 held in the Monitor's trust account.
Source: Fourth Report of the Monitor
Application (Order for Approval of the Actions, Conduct, and Interim Fees and Disbursements of the Monitor) — Application / notice of application
The court granted an approval and vesting order for the sale to Firefall Energy Inc. Closing terms, as extracted: Vesting is effective upon delivery of a Monitor's certificate to the Purchaser substantially in the form of Schedule 'A'. Sealed: Purchase Agreement attached as Schedule 'B' to the Confidential Supplement to the Third Report, which is unfiled.
First of two orders pronounced this day on the applications supported by the Monitor's Third Report and its supplement.
Second order pronounced this day; the relief before the Court included approval of the Key Employee Retention Program and the $397,500 KERP Charge.
Source: 007. Order Stay Extension, Distribution and Restricted Court Access
Supplement to the Third Report filed six days later, ahead of the applications heard on July 21, 2026.
Bench Brief (KERP, KERP Charge and Restricted Court Access Order) — Application / notice of application
Monitor's Third Report addressed the Debtors' application to approve a Key Employee Retention Program and a related KERP Charge of $397,500, which the Monitor supported as reasonable.
Source: Third Report of the Monitor
Further order pronounced in the proceedings, following the May 28, 2026 bid deadline under the approved sale process.
Source: Order Approving the Monitors Activities and a Stay Extension
Monitor's Second Report reported that the Companies maintained sufficient liquidity throughout the CFS#2 period, with actual cash flow results generally consistent with the forecast.
Source: Second Report of the Monitor
Green Impact Partners Inc. et al - Sale and Investment Solicitation Process Notice — Notice to creditors
At the comeback application, the stay of proceedings was extended to June 5, 2026, the Debtors continuing to operate their treatment facilities and RNG projects in the ordinary course.
The approved process covered all or substantially all of the Debtors' property and business, soliciting outright offers or investment proposals, with Ernst & Young's M&A team acting as selling agent.
Order pronounced approving a sale process for the Debtors' assets and business; no break fee was permitted to any bidder.
Source: Order Approving a Sale and Investment Solicitation Process (SISP)
Monitor's First Report, dated at Edmonton, reported activities since the Pre-Filing Report, set out cash flow forecast CFS#1 for February 23 to June 5, 2026, and covered the Companies' news release, the TSX Venture Exchange trading halt and securities relief, and the relief sought at the comeback application.
Source: First Report of the Monitor
Order pronounced on National Bank of Canada's application granting CCAA protection to Green Impact Partners Inc. and seven related entities and appointing Ernst & Young Inc. as monitor with enhanced powers.
Source: CCAA Initial Order
Case update
Green Impact Partners: the debtors ask to make the bank's CCAA their own
National Bank, which started the CCAA over eight Green Impact companies, was repaid $25,131,288.69 from the Firefall sale on August 13. In an application returnable October 21, the seven companies left ask to end the sale process, curtail the Monitor's enhanced powers, set a December 18 claims bar date and extend the stay to January 29, 2027.
Outcome brief
Green Impact Partners: the initial order that would not take effect until 11:59
National Bank obtained CCAA protection over eight Green Impact companies in February and then held the order in abeyance for thirteen days — it would lapse if the debt were repaid by 4 p.m. on February 17. It was not. Five months later the operating company's shares were sold to Firefall.
Precedent note
A secured creditor that wants a court-supervised sale has two doors: appoint a receiver, or put its own borrower into CCAA. Four 2026 proceedings show lenders choosing the second — and taking radically different positions on how much priority to ask for once inside.
Debtor
Green Impact Partners Inc. and seven related entities
Monitor
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Feasby | Court of King's Bench of Alberta | 6 orders, Feb 2026 – Oct 2026 | 39 cases on record |
| Justice Little | Court of King's Bench of Alberta | 3 orders, Jul 2026 | 59 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorEY | McCarthy Tétrault LLP | 14 Oct 2026 | Service list · 14 Oct 2026 |
| ApplicantGreen Impact Partners Inc. and seven related entities | DLA Piper (Canada) LLP | 14 Oct 2026 | Bench Brief (SARIO · 19 Oct 2026 |
| CreditorAkira TCC Consulting Inc | Torys LLP | 14 Oct 2026 | Service list · 14 Oct 2026 |
| CreditorNational Bank of Canada | Fasken Martineau DuMoulin LLP | 14 Oct 2026 | Service list · 14 Oct 2026 |
| CreditorWerklund Environmental Ltd | Borden Ladner Gervais LLP | 14 Oct 2026 | Service list · 14 Oct 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | National Bank of Canada (NBC), successor in interest to Canadian Western Bank (CWB) · in 101 casesGeneral Security Agreements (all present and after-acquired personal and real property) from each Debtor dated January 11, 2022; full liability continuing Guarantees dated January 11, 2022; PPSA registrations in Alberta, BC, Saskatchewan and UCC filings in Colorado over all present and after-acquired personal property; revolving credit Facility up to $30,000,000 principal (includes LC up to $2,000,000, hedging up to $2,000,000, VISA up to $250,000) — Referred to as the 'Indebtedness'; amount continues to accrue interest, fees, legal and other costs; fresh demand and NITES issued December 1, 20 · as of 27 Nov 2025 | $28.6M | Affidavit of Cory Stary (1 of 4) |
| 4 | Secured | |||
| 5 | PMSI / lessors |
2 more claims in 2 classes The stack holds Secured and PMSI / lessors claims.
Every creditor and every amount.
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See all plans4 transactions · 2 closed · 1 not completed · 1 proposed — The Sale and Investment Solicitation Process approved by the February 23, 2026 order is terminated.012. SISP Termination Order · 21 Oct 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| purchaser of specific assets under the January 2026 Transaction, unnamedspecific assets of the Companies (not already included in other possible sale transactions the Companies are exploring) · asset sale | not stated | Closed30 Jan 2026 | Second Report of the Monitor |
| definitive share sale agreement for shares in Green Impact Operating Corp., unnamed purchaserall of the shares in Green Impact Operating Corp · share sale · agreement 1 May 2025 | not stated | Not completed | Second Report of the Monitor |
| sale/investment transaction under SISP not yet identifiedWater Assets · auction | not stated | Proposed | Second Report of the Monitor |
| Firefall Energy Inc.all of the Vendor's right, title, and interest in and to the 'Assets', as set out and defined in the Purchase Agreement · share sale · nominee/assignee: any assignee or nominee thereof · agreement 10 Jul 2026 | Subscribers | Closed6 Aug 2026 | Fourth Report of the Monitor |
As at ·
Cumulative receipts
$1.88M
As at 14 Jul 2026Third Report of the Monitor
Cash on hand
As at
Professional fees
As at
2 more reported figures, and 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 |
|---|---|---|
| Instruction Letter for Proof of Claim | PDF · Subscribers | |
| Notice of Revision or Disallowance | PDF · Subscribers | |
| Notice of Revision or Disallowance (Fillable) | PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
| Proof of Claim (Fillable) | PDF · Subscribers | |
008. Order (Interim Fee Approval and Approval of Monitors Reports and Activities)
| PDF · Subscribers | |
010. Second Amended & Restated Initial Order
| PDF · Subscribers | |
012. SISP Termination Order
| PDF · Subscribers | |
Claims Process Order
| PDF · Subscribers | |
Redline Second Amended and Restated Initial Order
| PDF · Subscribers | |
Bench Brief (SARIO, SISP Termination, Claims Process & Stay Extension)
| PDF · Subscribers | |
Application (Order for Approval of the Actions, Conduct, and Interim Fees and Disbursements of the Monitor)
| PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
Notice of Application - Second Amended and Restated Initial Order, Claims Process, SISP Termination and Stay Extension
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Monitor's Certificate
| PDF · Subscribers | |
005. Order (KERP and KERP Charge) - 22 Jul 2026
| PDF · Subscribers | |
006. Order Sale Approval and Vesting Order (SAVO)
| PDF · Subscribers | |
007. Order Stay Extension, Distribution and Restricted Court Access
| PDF · Subscribers | |
Bench Brief (KERP, KERP Charge and Restricted Court Access Order)
| PDF · Subscribers | |
Supplement to the Third Report of the Monitor
| PDF · Subscribers | |
| Affidavit of Jesse Douglas | PDF · Subscribers | |
| Application | PDF · Subscribers | |
| Book of Authorities | PDF · Subscribers | |
| Brief of the Monitor | PDF · Subscribers | |
| Proof of Filing - Book of Authorities to the Brief of the Monitor | PDF · Subscribers | |
| Proof of Filing - Brief of the Monitor | PDF · Subscribers | |
| Notice of Application | PDF · Subscribers | |
Third Report of the Monitor
| PDF · Subscribers | |
Order Approving the Monitors Activities and a Stay Extension
| PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
Sale and Investment Solicitation Process (SISP) Teaser
| PDF · Subscribers | |
Green Impact Partners Inc. et al - Sale and Investment Solicitation Process Notice
| PDF · Subscribers | |
002. Amended and Restated Initial Order
| PDF · Subscribers | |
Order Approving a Sale and Investment Solicitation Process (SISP)
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
Bench Brief of the Applicant (ARIO and SISP)
| PDF · Subscribers | |
| The Second Affidavit of Cory Stark | PDF · Subscribers | |
| Affidavit of Service of Kim Picard | PDF · Subscribers | |
CCAA Initial Order
| PDF · Subscribers | |
Pre-Filing Report of the Proposed Monitor
| PDF · Subscribers | |
| Supplemental Affidavit of Cory Stark | PDF · Subscribers | |
Affidavit of Cory Stark (2 of 4)
| PDF · Subscribers | |
Affidavit of Cory Stark (3 of 4)
| PDF · Subscribers | |
Affidavit of Cory Stark (4 of 4)
| PDF · Subscribers | |
Affidavit of Cory Stary (1 of 4)
| PDF · Subscribers | |
| Consent to Act (EYI) | PDF · Subscribers | |
Originating Application
| 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., “Green Impact Partners Inc. and seven related entities” (CCAA), Court of King's Bench of Alberta. Retrieved 5 November 2026, https://proceedings.ca/case/green-impact-partners-inc-and-seven-related-entities