Okotoks Air Ranch Limited Partnership, together with Okotoks Air Ranch General Partner Inc. and Okotoks Air Ranch Limited Partner Inc., is before the Court of King's Bench of Alberta under Court File No. 25-3189251 in a proceeding commenced June 21, 2025 by notice of intention to make a proposal under section 50.4 of the Bankruptcy and Insolvency Act. A court officer's report filed the same day records that OAR was deemed to have made an assignment in bankruptcy on June 21, 2025. The matter remains active on the record.
The officer filed a report. OAR's airport assets and business were sold prior to bankruptcy under the Stalking Horse Transaction, leaving no ongoing operations; OAR was deemed bankrupt on June 21, 2025 after failing to file a viable proposal, and its only remaining asset is approximately $7,000 in cash, with no recovery expected for unsecured creditors. Court file 25-3189251.
Source: Trustee's Report to Creditors
The court granted an approval and vesting order for the sale to Okotoks Air Ranch Inc. Closing terms, as extracted: Vesting effective upon delivery of a Proposal Trustee's certificate confirming payment of Purchase Price and satisfaction of closing conditions.
Source: Sale Approval and Vesting Order
The officer filed report no. Second Report. The Applicants continue regular operations of the Okotoks airstrip while running a court-approved SISP. No Qualified Bid was received, so the Stalking Horse Bid was declared the Successful Bid, and approval of that sale and a stay extension to June 20, 2025 are sought. Current airstrip users are being transitioned to other locations or amended terms.
The officer filed report no. First Report. The Applicants continue to operate the airstrip in the ordinary course (fuel sales and rental income) while running a stalking-horse sale process (SISP) and are funded by interim financing; operations historically lose roughly $60,000 or more annually.
Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - GP Inc. — Cash-flow statement
Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - LP Inc. — Cash-flow statement
Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - OAR LP — Cash-flow statement
Debtor
Okotoks Air Ranch Limited Partnership, Okotoks Air Ranch General Partner Inc., and Okotoks Air Ranch Limited Partner Inc.
Proposal trustee
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Bourque | Court of King's Bench of Alberta | 3 orders, Mar 2025 | 39 cases on record |
| Justice Feasby | Court of King's Bench of Alberta | 2 orders, May 2025 | 39 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeMNP | MLT Aikins LLP | 4 Mar 2025 | Service list · 4 Mar 2025 |
| DebtorOkotoks Air Ranch Limited Partnership, Okotoks Air Ranch General Partner Inc., and Okotoks Air Ranch Limited Partner Inc. | DLA Piper (Canada) LLP · Miller Thomson LLP | 4 Mar 2025 | Service list · 4 Mar 2025 |
| CreditorAccess Helicopters Ltd | Miles Davison LLP | 30 Apr 2025 | Service list · 30 Apr 2025 |
| CreditorCondominium Corporation No. 0110799 | Miller Thomson LLP | 4 Mar 2025 | Service list · 4 Mar 2025 |
| CreditorPestell Land Corp | McCarthy Tétrault LLP | 4 Mar 2025 | Service list · 4 Mar 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Okotoks Air Ranch Inc.Mortgage on Airstrip Lands (OARI Mortgage) — Related party: Okotoks Air Ranch Inc. is stated to be 'a company related to the Applicants' and is also the Stalking Horse Bidder and Interim Lender. Amount stated as approximate ('approximately $1.68 million') in affidavit sworn March 4, 2025. — debtor: OARGP (legal owner) / OAR LP (beneficial owner) - Airstrip Lands · as of 4 Mar 2025 | $1.68M | Affidavit of Bryce Medd |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
35 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans3 transactions · 2 closed · 1 approved — Sale of business/assets pursuant to Stalking Horse Agreement approved and closed prior to bankruptcyTrustee's Report to Creditors · 10 Jul 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Okotoks Air Ranch Inc.Stalking horsethe Debtors' right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · asset sale · agreement 4 Mar 2025 | Subscribers | Approved5 May 2025 | Sale Approval and Vesting Order |
| Stalking Horse Bidder, unnamed in this reportStalking horsethe business and property of OAR, which could include the sale of some or all of the Airstrip Lands and related equipment · asset sale | not stated | Closed | Trustee's Report to Creditors |
| unnamedtwo hangar buildings, one large 14,000 square foot hangar with office space, a smaller 580 square foot hangar, and miscellaneous pieces of maintenance equipment | not stated | Closeddate not statedoutside 19 May 2025 | Trustee's Report to Creditors |
Unsecured creditors: no recovery.EstimatedTrustee's Report to Creditors · 10 Jul 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | listed | no recovery | Estimatedper the trustee | Trustee's Report to Creditors · 10 Jul 2025 |
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 ·
Cash on hand
$7K
As at 10 Jul 2025Trustee's Report to Creditors
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 |
|---|---|---|
Trustee's Report to Creditors
| PDF · Subscribers | |
| Creditor Notice Package | PDF · Subscribers | |
| Certificate of Bankruptcy | PDF · Subscribers | |
Order - Extension of Time to File Proposal
| PDF · Subscribers | |
Sale Approval and Vesting Order
| PDF · Subscribers | |
Second Report of the Proposal Trustee
| PDF · Subscribers | |
Service List - Bench Brief
| PDF · Subscribers | |
Application
| PDF · Subscribers | |
Order - GP Inc.
| PDF · Subscribers | |
Order - LP Inc.
| PDF · Subscribers | |
Order - OAR LP
| PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
Affidavit of Bryce Medd
| PDF · Subscribers | |
Bench Brief
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Cash Flow Forecast with Schedule A - GP Inc. | PDF · Subscribers | |
| Cash Flow Forecast with Schedule A - LP Inc. | PDF · Subscribers | |
| Cash Flow Forecast with Schedule A - OAR LP | PDF · Subscribers | |
Form 29 - Trustee's Report on Cash Flow Statement - GP Inc.
| PDF · Subscribers | |
Form 29 - Trustee's Report on Cash Flow Statement - LP Inc.
| PDF · Subscribers | |
Form 29 - Trustee's Report on Cash Flow Statement - OAR LP
| PDF · Subscribers | |
| Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - GP Inc. | PDF · Subscribers | |
| Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - LP Inc. | PDF · Subscribers | |
| Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - OAR LP | PDF · Subscribers | |
Creditor Package - Notice of Intention to Make a Proposal - GP Inc.
| PDF · Subscribers | |
Creditor Package - Notice of Intention to Make a Proposal - LP Inc.
| PDF · Subscribers | |
Creditor Package - Notice of Intention to Make a Proposal - OAR LP
| PDF · Subscribers | |
| Certificate of Notice of Intention to Make a Proposal - GP Inc. | PDF · Subscribers | |
| Certificate of Notice of Intention to Make a Proposal - LP Inc. | PDF · Subscribers | |
| Certificate of Notice of Intention to Make a Proposal - OAR LP | 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., “Okotoks Air Ranch Limited Partnership, Okotoks Air Ranch General Partner Inc., and Okotoks Air Ranch Limited Partner Inc.” (NOI), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/okotoks-air-ranch-partnership-gp-and-lp
Sources last checked · summary updated 9 August 2026 · Report a correction · Printed from proceedings.ca/case/okotoks-air-ranch-partnership-gp-and-lp
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.