LGX Oil+ Gas Inc
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, section 49 of the Law of Property Act, and section 13(2) of the Judicature Act
- File
- 1601-07375
- Industry
- Energy · Oil & gas production
LGX Oil + Gas Inc. has been in court-appointed receivership since 7 June 2016, under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, in the Court of King's Bench of Alberta under file number 1601-07375. Alberta Treasury Branches, described as the primary secured creditor of LGX, applied for the appointment; the lender is owed approximately $30.1 million borrowed by the company before the receivership. Ernst & Young Inc. acts as court-appointed receiver. The proceeding remains active, with a further application brought on 18 December 2018.
Application filed in the receivership of LGX Oil + Gas Inc. under Alberta court file 1601-07375, in which Alberta Treasury Branches is the applicant.
Source: January 8, 2019 Application (Increase Borrowings), filed
December 15, 2017 Application (Declaration Regarding Disclaimer Effect), filed — Application / notice of application
The court granted an approval and vesting order for the sale to Tamarack Acquisition Corp. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the purchase price and satisfaction of closing conditions. Sealed: Sale Agreement appended to Confidential Supplement.
The court granted an approval and vesting order for the sale to Sphere Energy Corp. Sealed: Confidential Supplement to the Second Report.
The court granted an approval and vesting order for the sale to Canadian Natural Resources. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction. Sealed: Confidential Supplement to the Third Report of the Receiver.
Source: 05. Approval and Vesting Order (Canadian Natural Resources)
The court granted an approval and vesting order for the sale to Sphere Energy Corp., Wolf Coulee Resources Inc., Tamarack Acquisition Corp., Canadian Natural Resources. Sealed: Confidential Supplement to the Second Report of the Receiver and the Second Confidential Supplemental Report to the Second Report of the Receiver.
The court appointed Ernst & Young Inc. as Receiver, on the application of Alberta Treasury Branches. Court file 1601-07375.
Notice of Application, filed was filed. Court file 1601-07375.
Source: Notice of Application, filed
Debtor
LGX Oil+ Gas Inc
Receiver
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Jeffrey | Court of King's Bench of Alberta | 6 orders, Jun 2016 – Feb 2017 | 51 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorLGX Oil+ Gas Inc | Norton Rose Fulbright Canada LLP · McCarthy Tétrault LLP | 3 Jun 2016 | Factum · 20 Aug 2018 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Alberta Treasury Branches · in 15 casesDescribed as 'approximately $30.1 million' borrowed by LGX from Alberta Treasury Branches; Lender is stated to be 'the primary secured creditor of LGX'; pre-receivership loan balance approximation, not an exact dated figure. — debtor: LGX Oil + Gas Inc. | $30.1M | Fourth Report of the Receiver and Manager, filed |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
4 transactions · 4 approved — Sale Agreement approved and vesting order granted04. Approval and Vesting Order (Sphere) · 9 Feb 2017
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Canadian Natural Resourcesthe Debtor's right, title and interest in and to the assets described in the Sale Agreement as the Assets (the Purchased Assets) · asset sale · nominee/assignee: or its nominee · agreement 8 Feb 2017 | Subscribers | Approved9 Feb 2017 | 05. Approval and Vesting Order (Canadian… |
| Sphere Energy Corp.the Debtor's right, title and interest in and to the assets described in the Sale Agreement as the Assets (the Purchased Assets) · asset sale · nominee/assignee: its nominee · agreement 27 Jan 2017 | Subscribers | Approved9 Feb 2017 | 04. Approval and Vesting Order (Sphere) |
| Tamarack Acquisition Corp.the Debtor's right, title and interest in and to the assets described in the Sale Agreement as the Assets (the Purchased Assets) · asset sale · agreement 2 Feb 2017 | Subscribers | Approved9 Feb 2017 | 03. Approval and Vesting Order (Tamarack) |
| Wolf Coulee Resources Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement as the Assets (the Purchased Assets) · asset sale | Sealed | Approved9 Feb 2017 | Application - Sale Approval and Vesting Orders |
| Date | Document | File |
|---|---|---|
| 09. Order (Increase Borrowings) | PDF · Subscribers | |
| LGX - Letter re Disclaimed Property | PDF · Subscribers | |
Fourth Report of the Receiver and Manager, filed
| PDF · Subscribers | |
January 8, 2019 Application (Increase Borrowings), filed
| PDF · Subscribers | |
| Respondent (Court-Appointed Receiver of LGX) - Book of Authorities, filed | PDF · Subscribers | |
Respondent (Court-Appointed Receiver of LGX) - Factum, filed
| PDF · Subscribers | |
| Litigation - Statement of Defence, filed | PDF · Subscribers | |
| Appelant (Attorney General of Canada) - Book of Authorities, filed | PDF · Subscribers | |
| Appellant (Attorney General of Canada) - Factum, filed | PDF · Subscribers | |
| Litigation - Amended Statement of Claim, filed | PDF · Subscribers | |
| LGX - Clarifying Disclaimer - March 5 18 | PDF · Subscribers | |
08. Order (Declaration re Disclaimer Effect)
| PDF · Subscribers | |
| Brief of Law and Argument of the Receiver (Declaration Regarding Disclaimer Effect), filed | PDF · Subscribers | |
| December 15, 2017 Application (Declaration Regarding Disclaimer Effect), filed | PDF · Subscribers | |
| Third Report of the Receiver & Manager, filed | PDF · Subscribers | |
| LGX - Letter re Operated Disclaimed Property | PDF · Subscribers | |
03. Approval and Vesting Order (Tamarack)
| PDF · Subscribers | |
04. Approval and Vesting Order (Sphere)
| PDF · Subscribers | |
05. Approval and Vesting Order (Canadian Natural Resources)
| PDF · Subscribers | |
06. Order (Restricted Court Access)
| PDF · Subscribers | |
07. Order (Creating Priority Charge in favour of AER)
| PDF · Subscribers | |
Application - Sale Approval and Vesting Orders
| PDF · Subscribers | |
Supplemental Report to the Second Report of the Receiver
| PDF · Subscribers | |
| Second Report of the Receiver & Manager | PDF · Subscribers | |
02. Sales Process Order
| PDF · Subscribers | |
| Application - Approval of Sales Solicitation Process | PDF · Subscribers | |
First Report of the Receiver & Manager
| PDF · Subscribers | |
| Receiver Notice 245-246 | PDF · Subscribers | |
01. Consent Receivership Order, filed
| PDF · Subscribers | |
| Supplemental Affidavit of Kevin Kynoch, filed | PDF · Subscribers | |
| Affidavit of Kevin Kynoch (Volume 1 of 2), filed | PDF · Subscribers | |
| Affidavit of Kevin Kynoch (Volume 2 of 2), filed | PDF · Subscribers | |
Notice of Application, filed
| PDF · Subscribers | |
| Statement of Claim, filed | 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., “LGX Oil+ Gas Inc” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/lgx-oil-gas-inc