#Claims
Notice of Bankruptcy and First Meeting of Creditors, dated January 23, 2024 — Notice to creditors
Kingsland Oil Corp.
ActiveFollow
- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 22-3027497
- Industry
- Energy · Oil & gas production
Filings held2
Last activity23 Jan 2024
On the record1,036 days
OverviewSummary updated
Kingsland Oil Corp. made an assignment in bankruptcy under section 49 of the Bankruptcy and Insolvency Act on January 5, 2024, with BDO Canada Limited appointed Licensed Insolvency Trustee, in the Court of King's Bench for Saskatchewan under court file 22-3027497. The estate's oil and gas properties carry a deemed asset value of approximately $606,808 per a License Liability Inventory Report dated December 18, 2023, against deemed abandonment and reclamation liabilities of approximately $942,819. Cash of approximately $114,183 is frozen at Canadian Western Bank, and the Saskatchewan Ministry of Energy and Resources holds a deposit of approximately $644,597 against regulatory obligations. The Statement of Affairs discloses approximately $101,634 in unsecured liabilities; the Trustee reports no registered secured creditors on its PPR search. At the first meeting of creditors on January 23, 2024, Richard Toney, with a proven claim of $82,438.12, moved affirmation of the Trustee's appointment and was appointed inspector. The proceeding remains active.
Proceedings AIOpen Proceedings AI
Case updates2 dated entries
Parties
Debtor
Kingsland Oil Corp.
Trustee in bankruptcy
BDO
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Unsecured creditors (aggregate as reported) · in 563 casesas of Statement of Affairs — Trustee's Report states Company disclosed approximately $101,634 in unsecured liabilities per the SOA; document names no individual creditors; claims process not yet complete so proven claims may differ. Separately, Richard Toney's proven claim of $82,438.12 is itemised in the attendance list. — debtor: Kingsland Oil Corp. | $102K | Notice of Bankruptcy and First Meeting of Creditors, dated January 23, 2024 |
| Unsecured |
1 more claim in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansRecoveriesAs stated in the filings
Unsecured creditors: not yet estimated.Notice of Bankruptcy and First Meeting of Creditors · 23 Jan 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | not yet estimated | per the trustee | Notice of Bankruptcy and First Meeting of Creditors · 23 Jan 2024 |
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.
Documents2 filings
| Date | Document | File |
|---|---|---|
Notice of Bankruptcy and First Meeting of Creditors, dated January 23, 2024
| PDF · Subscribers | |
Certificate of Appointment, dated January 05, 2024
| 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., “Kingsland Oil Corp.” (Bankruptcy), Court of King's Bench for Saskatchewan. Retrieved 5 November 2026, https://proceedings.ca/case/kingsland-oil-corp