Mustang Well Services Ltd.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- Industry
- Energy · Oilfield services
Mustang Well Services Ltd. was placed in court-appointed receivership on May 17, 2018 in the Court of King's Bench of Alberta at Calgary, under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding covered Mustang together with KKSR Enterprises Ltd., Complete Oilfield Manufacturing Inc., Reaction Oilfield Supply (2012) Ltd. and MRBD Ltd. The combined debtors' financial statements as at March 31, 2018 stated total assets of $36,268,180 at book value, including property, plant and equipment of $26,688,259 and trade and other receivables of $7,657,455; the Receiver did not audit or verify those figures, offered no comment on realizable value, and noted that the stated total does not arithmetically match the listed components as printed. The secured lender was owed in excess of $17,520,953.05 as of May 9, 2018. The file is closed.
Debtor
Mustang Well Services Ltd.
Receiver
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hollins | Court of King's Bench of Alberta | 3 orders, Sep 2018 | 26 cases on record |
| Justice Macleod | Court of King's Bench of Alberta | 2 orders, May 2018 | 33 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFTI | Cassels Brock & Blackwell LLP | 23 Apr 2019 | Service list · 23 Apr 2019 |
| CreditorAnytime N2 Oilfield Services Ltd | Stringam LLP | 23 Apr 2019 | Service list · 23 Apr 2019 |
| CreditorATB Financial | Gowling WLG (Canada) LLP | 23 Apr 2019 | Service list · 23 Apr 2019 |
| CreditorCoil Works Inc | Nerland Lindsey LLP | 23 Apr 2019 | Service list · 23 Apr 2019 |
| CreditorFirst Insurance Funding of Canada Inc | Camelino Galessiere LLP | 23 Apr 2019 | Service list · 23 Apr 2019 |
| CreditorPrecision Tube Canada Ltd | Lawson Lundell LLP | 23 Apr 2019 | Service list · 23 Apr 2019 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Secured Lender · in 8 casesStated as 'in excess of' this amount - floor figure, not a precise balance — debtor: Mustang Well Services Ltd., KKSR Enterprises Ltd., Complete Oilfield Manufacturing Inc., Reaction Oilfield Supply (2012) Ltd. and MRBD Ltd. · as of 9 May 2018 | $17.5M | Notice and Statement of Receiver |
ATB Financial: a distribution.EstimatedNotice of Application of Receiver for Discharge · 23 Apr 2019
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | ATB Financial | — | interim | Estimatedper the receiver | Notice of Application of Receiver for Discharge · 23 Apr 2019 |
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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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The total 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 |
|---|---|---|
| Notice of Bankruptcy and First Meeting of Creditors | PDF · Subscribers | |
| Certificate of Appointment - Form 19 | PDF · Subscribers | |
Order for Discharge of Receiver
| PDF · Subscribers | |
Notice of Application of Receiver for Discharge
| PDF · Subscribers | |
Service List as of April 23, 2019
| PDF · Subscribers | |
| Third Report of the Receiver | PDF · Subscribers | |
Order, filed January 2, 2019
| PDF · Subscribers | |
| Second Report of the Receiver | PDF · Subscribers | |
| Supplement to the Second Report of the Receiver | PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
| Notice of Application | PDF · Subscribers | |
Order Approving Interim Distribution, Auction Agreement
| PDF · Subscribers | |
Sealing Order
| PDF · Subscribers | |
| First Report of the Receiver | PDF · Subscribers | |
Notice and Statement of Receiver
| PDF · Subscribers | |
File Approval and Vesting Order
| PDF · Subscribers | |
| Originating Application | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Volume 1 of 2 (Tabs A-K) Trina Holland Affidavit | PDF · Subscribers | |
| Volume 2 of 2 (Tabs L-CC) Trina Holland Affidavit | 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., “Mustang Well Services Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/mustang-well-services-ltd