Ogen Ltd. and Ogen Holdings Ltd. (Receivership)
- Proceeding
- Receivership (court-appointed)section 243(1) of the BIA, and sections 13(2) of the Judicature Act, RSA 2000, c.B-9, and 65(7) of the Personal Property Security Act, RSA 2000, c.P-7
- File
- 25-2958977, 25-2958981
- Industry
- Cannabis · Cannabis producers
Ogen Ltd. and Ogen Holdings Ltd. have been under the receivership and management of Alvarez & Marsal Canada Inc. since November 3, 2023, when the Court of King's Bench of Alberta granted Connect First Credit Union Ltd.'s application under section 243(1) of the BIA, section 13(2) of the Judicature Act and section 65(7) of the Personal Property Security Act, in file 2301-13922. The proceeding remains active. A statement of affairs for Ogen Holdings Ltd. as at September 25, 2024 reports no assets against liabilities of $19,324,205.63 and a deficiency in the same amount. Connect First's claim of $14,294,394.47 is secured only on cash on hand valued at nil and is listed as unsecured; the Canada Revenue Agency is owed $4,728,270.00 in excise tax and $253,284.00 in GST. The officer states Connect First is the fulcrum creditor and that there are no recoveries for unsecured creditors.
Court pronounced the order appointing Alvarez & Marsal Canada Inc. receiver and manager of Ogen Ltd. and Ogen Holdings Ltd. on Connect First Credit Union's application.
Source: Receivership Order
Application (Appointment of Receiver), Filed October 27, 2023 — Application / notice of application
Certificate of Filing was filed. Court file 25-2958977, 25-2958981.
Source: Certificate of Filing
Debtor
Ogen Ltd. and Ogen Holdings Ltd. (Receivership)
Receiver
Alvarez & Marsal
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Mah | Court of King's Bench of Alberta | 4 orders, Nov 2023 | 78 cases on record |
| Justice Armstrong | Court of King's Bench of Alberta | 2 orders, May 2025 | 30 cases on record |
| Justice Neilson | Court of King's Bench of Alberta | 2 orders, Feb 2024 – Dec 2024 | 63 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorOgen Ltd. and Ogen Holdings Ltd. (Receivership) | Bennett Jones LLP | 31 Oct 2023 | Service list · 31 Oct 2023 |
| CreditorConnect First Credit Union Ltd | First Credit Union Ltd. Burnet, Duckworth & Palmer LLP Previously Burnet Duckworth & Palmer LLP (last seen 27 Oct 2023) | 27 Oct 2023 | Service list · 31 Oct 2023 |
| CreditorKSV Restructuring Inc | MLT Aikins LLP | 31 Oct 2023 | Service list · 31 Oct 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Connect First Credit Union Ltd. · in 9 casesParticulars of security listed as 'Cash on hand'; estimated value of security $0.00 (Form 78 List B) — Per the Statement of Affairs (List B), claim $14,294,394.47, estimated value of security 0.00, balance of claim/unsecured $14,294,394.47 (also shown in List A as an unsecured claim of that amount). The trustee's notice describes the senior lender as the fulcrum creditor with no recoveries to unsecured creditors. Amounts as stated and estimated by the officer, not proven claims. — debtor: OGEN Holdings Ltd. · as of 25 Sep 2024 | $14.3M | Creditor Package – OGEN Holdings Ltd. |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
11 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: no recovery. CFCU short.EstimatedCreditor Package – OGEN Ltd. · 2 Oct 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | CFCU | shortfall | Estimatedper the receiver | Receiver’s Second Report · 8 Feb 2024 | |
| Unsecured | — | — | no recovery | Estimatedper the trustee | Creditor Package – OGEN Ltd. · 2 Oct 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.
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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See all plansAs at ·
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 |
|---|---|---|
| Receiver’s Closing Certificate | PDF · Subscribers | |
Amending Order (Sale Approval)
| PDF · Subscribers | |
Order (Sale Approval)
| PDF · Subscribers | |
| Receiver’s Fourth Report | PDF · Subscribers | |
Order (Increase of Receiver’s Borrowings Charge)
| PDF · Subscribers | |
| Receiver’s Third Report | PDF · Subscribers | |
Creditor Package – OGEN Ltd.
| PDF · Subscribers | |
Creditor Package – OGEN Holdings Ltd.
| PDF · Subscribers | |
| Certificate of Filing – OGEN Holdings Ltd. | PDF · Subscribers | |
| Certificate of Filing – OGEN Ltd. | PDF · Subscribers | |
| Certificate of the Proposal Trustee | PDF · Subscribers | |
| Order (Cancelling License) | PDF · Subscribers | |
Order (Approval of SISP)
| PDF · Subscribers | |
Order (Sealing Order)
| PDF · Subscribers | |
| Application (Approval of Sales Process) | PDF · Subscribers | |
| Brief of the Receiver | PDF · Subscribers | |
Receiver’s Second Report
| PDF · Subscribers | |
| Affidavit of Jason Sterling | PDF · Subscribers | |
| Application (Declaration or Lift Stay) | PDF · Subscribers | |
Order (Amending)
| PDF · Subscribers | |
Order (Various Relief)
| PDF · Subscribers | |
| Receiver’s First Report | PDF · Subscribers | |
Certificate of Filing
| PDF · Subscribers | |
Order (Terminating NOI Proceedings)
| PDF · Subscribers | |
| Notice of Statement of Receiver | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Book of Authorities of the Applicant | PDF · Subscribers | |
Written Submissions (CRA)
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Application (Appointment of Receiver), Filed October 27, 2023 | PDF · Subscribers | |
Brief of Law of the Applicant
| PDF · Subscribers | |
| Affidavit of Kunle Popoola | PDF · Subscribers | |
| Statement of Claim, Filed October 23, 2023 | 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., “Ogen Ltd. and Ogen Holdings Ltd. (Receivership)” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/ogen-ltd-and-ogen-holdings-ltd-rcvr