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
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 Feasby | Court of King's Bench of Alberta | 1 order, May 2025 | 11 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 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 | Pestell Land Corp.Mortgage on Airstrip Lands (Pestell Mortgage), maturity November 30, 2024 — Amount stated as approximate ('approximately $1.28 million') in affidavit sworn March 4, 2025; subject of Forbearance Agreement dated January 15, 2025 due to default. — debtor: OARGP (legal owner) / OAR LP (beneficial owner) - Airstrip Lands · as of 4 Mar 2025 | $1.28M | Affidavit of Bryce Medd |
| 4 | Secured | Individual mortgagees (Bickert Mortgage)Mortgage on Airstrip Lands (Bickert Mortgage) — Individuals: Marlene and Paul Bickert. Amount stated as approximate ('approximately $157,000') in affidavit sworn March 4, 2025. — debtor: OARGP (legal owner) / OAR LP (beneficial owner) - Airstrip Lands · as of 4 Mar 2025 | $157K | Affidavit of Bryce Medd |
| 4 | Secured | Okotoks Air Ranch Inc. (Interim Lender)Proposed Interim Lender's Charge over property and assets of OAR (charge subordinate to Administration Charge, Bickert Mortgage and Pestell Mortgage); pending court approval as of affidavit date — Related party (same entity as OARI Mortgage holder/Stalking Horse Bidder). Interim Financing Facility credit limit is $350,000 with interest at 8% per annum; $150,000 already advanced as of affidavit date (March 4, 2025). Charge not yet approved by court at time of affidavit. — debtor: OARGP / OAR LP / OARLPI (Applicants) · as of 4 Mar 2025 | $150K | Affidavit of Bryce Medd |
| 8 | Unsecured | Pestell Land Corp.Listed twice with separate claim amounts — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $1.29M | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Okotoks Air Ranch Limited Partner Inc.Related party; shares registered address (1717-9th Street SW, Calgary) with the insolvent person and affiliated Okotoks Air Ranch entities — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $994K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Okotoks Air Ranch Limited PartnershipRelated party (listed as 'Okotoks Air Ranch Limited Partnerhip' in document, apparent typo); shares registered address (1717 9 St SW, Calgary) with the insolvent person and affiliated entities — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $316K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Marlene Margaret Bickert and Paul F. BickertIndividual creditors — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $156K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Wealthy Tortoise Financial Group Inc.Same address as creditor Bryce Medd (#72 Masters Heights SE, Calgary), suggesting related party; listed twice with separate claim amounts — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $115K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | KC Landscaping and Maintenancedebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $10.2K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Acera Insurance Services Ltd.debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $8.79K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Flight Fuels LPdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $7.95K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Bryce MeddIndividual creditor; same address as Wealthy Tortoise Financial Group Inc. entries and signed the NOI as authorized representative of the insolvent person, suggesting a related-party relationship — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $2.96K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Okotoks Air Ranch General Partner Holding CompanyRelated party; shares registered address (1717 9 St SW, Calgary) with the insolvent person and affiliated Okotoks Air Ranch entities — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $2.11K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Servus Credit Union · in 13 casesdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $1.29K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Bordeaux Developments Corporationdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $1.05K | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Wealthy Tortoise Financial Group Inc.Same address as creditor Bryce Medd (#72 Masters Heights SE, Calgary), suggesting related party; listed twice with separate claim amounts — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $642 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Pitre James Business & Taxdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Receiver General For Canada · in 51 casesCanada Revenue Agency claim; document does not specify whether this is a deemed-trust amount — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Google LLC · in 17 casesdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | T&T Disposal Servicesdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Telus Communication Inc.debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | The Matchstick Marketing Inc.debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Town of OkotoksMunicipal creditor — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Virgin Plusdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | AE Consulting, Inc.debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | 20/20 Law Groupdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | 1787616 Alberta Ltd.debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Miller Supply · in 2 casesdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Miller Thomson LLP · in 23 casesdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Jon-Paul RoyceIndividual creditor — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | DLA Piper (Canada) LLP · in 16 casesDLA Piper is also counsel of record for the insolvent person — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Direct Energy Regulated Services · in 58 casesdebtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | MNP Ltd · in 2 casesListed creditor is the same entity acting as proposal Trustee in this proceeding — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Pestell Land Corp.Listed twice with separate claim amounts — debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
| 8 | Unsecured | Apple Canada, Inc.debtor: Okotoks Air Ranch General Partner Inc. · as of 20 Feb 2025 | $250 | Creditor Package - Notice of Intention to Make a Proposal - GP Inc. |
3 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 | $3.47M (mixed consideration)Purchase Price comprised of the Credit Bid Amount and the assumption of the Assumed Liabilities | 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 | — | $154Klisted | 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.
As at 31 Dec 2023 · per compiled by an independent, external accountant; financial statements not prepared for 2024 or the stub period to the date of bankruptcy · OAR LP entity level (financial statements for OARLPI and OARGP not separately prepared, given integration of operations and structure of the partnership) — As at the date of bankruptcy (June 21, 2025), OAR's only asset was cash of approximately $7,000, with no other assets available for realization; unsecured creditor claims are estimated at approximately $154,452 owed to 27 potential creditors.
Cash on hand
$7K
As at 10 Jul 2025Trustee's Report to Creditors
| Date | Document | File |
|---|---|---|
Trustee's Report to Creditors
| ||
| Creditor Notice Package | ||
| Certificate of Bankruptcy | ||
Order - Extension of Time to File Proposal
| ||
Sale Approval and Vesting Order
| ||
Second Report of the Proposal Trustee
| ||
Service List - Bench Brief
| ||
Application
| ||
Order - GP Inc.
| ||
Order - LP Inc.
| ||
Order - OAR LP
| ||
| First Report of the Proposal Trustee | ||
Affidavit of Bryce Medd
| ||
Bench Brief
| ||
Service List
| ||
| Cash Flow Forecast with Schedule A - GP Inc. | ||
| Cash Flow Forecast with Schedule A - LP Inc. | ||
| Cash Flow Forecast with Schedule A - OAR LP | ||
| Form 29 - Trustee's Report on Cash Flow Statement - GP Inc. | ||
| Form 29 - Trustee's Report on Cash Flow Statement - LP Inc. | ||
| Form 29 - Trustee's Report on Cash Flow Statement - OAR LP | ||
| Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - GP Inc. | ||
| Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - LP Inc. | ||
| Form 30 - Report on Cash Flow Statement by the Person Making the Proposal - OAR LP | ||
Creditor Package - Notice of Intention to Make a Proposal - GP Inc.
| ||
| Creditor Package - Notice of Intention to Make a Proposal - LP Inc. | ||
| Creditor Package - Notice of Intention to Make a Proposal - OAR LP | ||
| Certificate of Notice of Intention to Make a Proposal - GP Inc. | ||
| Certificate of Notice of Intention to Make a Proposal - LP Inc. | ||
| Certificate of Notice of Intention to Make a Proposal - OAR LP | ||
Filing titles, dates, and extracted key facts are public.
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 20 September 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.