Proceedings.

OKR Group of Companies

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Proceeding
CCAACompanies' Creditors Arrangement Act, RSC 1985, c C-36, as amended
Court
Court of King's Bench of Alberta
File
2501-03316
Filings held107
Last activity15 Sep 2026
On the record563 days
Secured debtSubscribers
OverviewSummary updated

OKR Group of Companies has been under CCAA protection in the Court of King's Bench of Alberta since March 7, 2025, in Court File No. 2501-03316. The Monitor puts estimated liabilities of the applicants — nine of the ten OKR Funds, excluding AdminCo — at $24,672,000 on an unaudited, preliminary basis: secured debt of $150,000 as at December 31, 2023; trade and accrued liabilities of $2,659,000 and unitholder redemption notices of $16,366,000 as at March 6, 2025; Grey King at $586,000; and founders and related parties at $4,911,000 as at December 31, 2023. Loan receivables of approximately $79.1 million as at February 28, 2025 and other assets of $14,134,000 are reported separately and not summed. The stay of proceedings runs to July 31, 2028.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Order Approving Claims Process dated 28 August 2025.

Proceedings AIAsk this case — answers cite the filings
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Case updates108 dated entries
#Sale

The Court approved the sale of the Shares to VF Recovery Ltd., with vesting to occur on delivery of the Monitor's certificate to the purchaser or its nominee confirming closing.

Source: Sale Approval and Vesting Order

105 earlier updates, back to 7 March 2025 — subscribers.

AnalysisAll insights⁠

Case update

OKR: who gets to use what the monitor compels

In July the court gave PwC power to examine anyone under oath about the OKR funds, and took away the right to refuse an answer on the ground that it might establish civil liability. Two defendants have now asked that the implied undertaking rule apply to what they say — because the monitor's litigation counsel is also the firm suing them.

Parties

Debtor

OKR Group of Companies

Monitor

PwC

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice SimardCourt of King's Bench of Alberta9 orders, Jun 2025 – Feb 202625 cases on record
Justice KuntzCourt of King's Bench of Alberta2 orders, Sep 20268 cases on record
Justice JohnstonCourt of King's Bench of Alberta2 orders, Jul 202632 cases on record
Justice CampbellCourt of King's Bench of Alberta2 orders, Mar 202527 cases on record

Counsel of record

PartyCounselFirst seenSource
MonitorPwCCassels Brock & Blackwell LLP28 Mar 2025Application · 28 Mar 2025
Creditor2720295 Ontario IncCarscallen Leitch LLP27 Apr 2026Service list · 27 Apr 2026
CreditorGrey King Endeavours IncBurnet Duckworth & Palmer LLP27 Apr 2026Service list · 27 Apr 2026
CreditorIndependent DirectorsTingle Merrett LLP27 Apr 2026Service list · 27 Apr 2026
CreditorJason NealeHarper Grey LLP27 Apr 2026Service list · 27 Apr 2026
CreditorJason Neale and 7865546 Canada IncHarper Grey LLP15 Sep 2026Order · 15 Sep 2026
CreditorLitigation CounselDentons Canada LLP27 Apr 2026Service list · 27 Apr 2026
CreditorLuiProfessional Corporation5 Jun 2025Affidavit · 5 Jun 2025
CreditorRandy Stewart Thompson in the Investor ActionDentons Canada LLP23 Feb 2026Order · 23 Feb 2026
CreditorRandy ThompsonMLT Aikins LLP15 Sep 2026Order · 15 Sep 2026
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredWesley Glen Samuel Mills and Jayne ParishRegistered claim on the Personal Property Registry — Secured by an unpaid promissory note issued by the Applicants; individuals are the actual registered secured creditors (not guarantors). — debtor: The Applicants (OKR Group) · as of 31 Dec 2023$150KMonitor's First Report to Court

282 more claims across lower-ranking classes

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Sale processAs stated in the filings

Approval pending — the portion of the Application seeking the Venture Fund Relief is adjourned sine dieOrder re Stay Extension Investigative Powers & Other relief · 17 Jul 2026

PurchaserPriceStatusSource
VF Recovery Ltd.the purchase and sale of the Shares (as defined in the Share Purchase Agreement) · share sale · agreement 14 Jul 2026SubscribersApproved11 Sep 2026Sale Approval and Vesting Order
Closing termsUpon delivery of a Monitor's certificate to the Purchaser (or its nominee) confirming closing of the Transactions, vesting occursSale Approval and Vesting Order
Estate financialsReported figures — never derived

The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers

Cumulative receipts

$3.5M

As at 8 Jul 2026Monitor's Sixth Report to Court

1 more reported figure, as at 8 Jul 2026

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Documents
107 filings
DateDocumentFile
Consent Limitations Order
  • Counsel Cassels Brock & Blackwell LLP
  • Presiding officer Justice A.G. Kuntz
PDF · Subscribers
Sale Approval and Vesting Order
  • Closing terms Upon delivery of a Monitor's certificate to the Purchaser (or its nominee) confirming closing of the Transactions, vesting occurs
  • Order date 11 September 2026
  • Presiding officer Justice Kuntz
  • Purchaser VF Recovery Ltd. · the purchase and sale of the Shares (as defined in the Share Purchase Agreement) · share sale · approved
  • + 1 more extracted fact
PDF · Subscribers
Brief of the Monitor (Cassels), filed September 4, 2026
  • Counsel Cassels Brock & Blackwell LLP
PDF · Subscribers
Reply Book of Authorities (Cassels), dated September 4, 2026 excluding tabsPDF · Subscribers
Response Brief re Implied Undertaking (Cassels), dated September 4, 2026PDF · Subscribers
Affidavit #1 of C. Wong affirmed August 31, 2026PDF · Subscribers
Application of Jason Neale and 7865546 Canada Inc. re Implied UndertakingPDF · Subscribers
Application of Randal Stewart Thompson re Implied UndertakingPDF · Subscribers
Application submitted by Monitor's Counsel (Cassels)PDF · Subscribers
Book of Authorities of Jason Neale and 7865546 Canada Inc.PDF · Subscribers
Brief of Jason Neale and 7865546 Canada Inc. re Implied Undertaking Application FILEDPDF · Subscribers
Brief of Randal Stewart ThompsonPDF · Subscribers
Monitor's Seventh Report to CourtPDF · Subscribers
Order re Stay Extension Investigative Powers & Other relief
  • Order date 17 July 2026
  • Presiding officer Justice B.B. Johnston
  • Sale outcome Approval pending — the portion of the Application seeking the Venture Fund Relief is adjourned sine die
  • Stalking horse Subscribers
  • + 1 more extracted fact
PDF · Subscribers
Bench Brief of the MonitorPDF · Subscribers
Book of AuthoritiesPDF · Subscribers
Notice of Amended ApplicationPDF · Subscribers
Supplemental Report to the Sixth Report of the Monitor
  • Purchaser named as [Venture Fund HoldCo 2026] in the appended Share Purchase Agreement, a placeholder name · the Shares · share sale · proposed
  • Sale outcome Approval pending — Monitor is seeking approval of the Termination and Trust Agreement and Share Purchase Agreement and the Transaction contemplated thereby, with the definitive documents and form of sale approval and vesting order still being negotiated at the time of the Supplemental Report
  • Financial position · Secured creditors Subscribers
  • + 2 more extracted facts
PDF · Subscribers
Monitor's Sixth Report to Court
  • Operational summary The OKR Entities are undergoing an orderly wind-down of their loan portfolio under the Financial Manager and Monitor, pursuing loan collections, litigation against former founders and auditors, and a proposed transaction to spin off the Venture Fund outside the CCAA process.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Notice of ApplicationPDF · Subscribers
Affidavit of K. IpPDF · Subscribers
Notice of Application – dated 2026-07-03PDF · Subscribers
Propose Form of Order
  • Presiding officer Justice Johnston
PDF · Subscribers
Fourth Investor UpdatePDF · Subscribers
Service List
  • Counsel Carscallen LLP
PDF · Subscribers
Third Investor UpdatePDF · Subscribers
Order for Joint Trial - CCAA Proceedings
  • Counsel Dentons Canada LLP
  • Presiding officer Justice C.D. Simard
PDF · Subscribers
Order for Joint Trial - The Investor Action against Randy Stewart Thompson, Jason Neale, Bill Green, and others
  • Counsel Dentons Canada LLP
  • Order date 9 January 2026
  • Presiding officer Justice C.D. Simard
  • Stalking horse Subscribers
PDF · Subscribers
Order for Joint Trial - The OKR Action brought by Old Kent Road Financial Loan Adminco Ltd. and related OKR fund entities against Jason Neale, 7865546 Canada Inc., and Bill Green
  • Counsel Dentons Canada LLP
  • Presiding officer Justice C.D. Simard
PDF · Subscribers
Alberta Securities Commission - Notice of HearingPDF · Subscribers
https://www.asc.ca/-/media/ASC-Documents-part-1/Notices-Decisions-Orders-Rulings/Enforcement/2025/12/NEALE-Jason-David-NOH-20251222.pdfPDF · Subscribers
Second Investor UpdatePDF · Subscribers
Affidavit of M. Tam filed on November 26 2025PDF · Subscribers
Application filed on November 26 2025PDF · Subscribers
Form of Order
  • Presiding officer Justice C.D. Simard
PDF · Subscribers
Instruction for InvestorsPDF · Subscribers
Notice of Dispute of CreditorPDF · Subscribers
Notice of Dispute of Investor ClaimPDF · Subscribers
Notice to CreditorsPDF · Subscribers
Proof of ClaimPDF · Subscribers
First Investor UpdatePDF · Subscribers
Order Approving Activites, Fees, Fund Ext and Stay Ext
  • Presiding officer Justice C.D. Simard
PDF · Subscribers
Order Approving Claims Process
  • Presiding officer Justice C.D. Simard
PDF · Subscribers
Bench Brief of the Monitor – dated 2025-08-22PDF · Subscribers
Book of Authorities of the MonitorPDF · Subscribers
Supplemental Report to the Monitor's Fifth Report to CourtPDF · Subscribers
Application for Claim Process Order and Ancillary Order filed August 18, 2025PDF · Subscribers
Monitor's Fifth Report to Court
PDF · Subscribers
Affidavit #2 of John Pinsent filed August 14, 2025PDF · Subscribers
Notice of Application re Release of Independent DirectorsPDF · Subscribers
List of Potential Investor Committee Members - Updated July 21, 2025PDF · Subscribers
Schedule C - Voting LetterPDF · Subscribers
Order Approving Stay Extension, Enhanced Monitor and Financial Manager - Filed Jun 12, 2025
  • Presiding officer Justice C.D. Simard
PDF · Subscribers
Affidavit #1 of Bernard Batt filed Jun 11, 2025PDF · Subscribers
Schedule A – Application FormPDF · Subscribers
Schedule B – Nomination FormPDF · Subscribers
Order Approving Investor Committee - Filed Jun 10, 2025
  • Order date 9 June 2025
  • Presiding officer Justice C. Simard
  • Stalking horse Subscribers
PDF · Subscribers
Filed Transcript of Questioning of K. Davidson, held June 6, 2025PDF · Subscribers
Affidavit #1 of Neil Schramm filed Jun 5, 2025
  • Counsel Dianne Fang Professional Corporation
PDF · Subscribers
Filed Transcript of Questioning of L. Turnquist, held June 5, 2025PDF · Subscribers
Monitor's Fourth Report to CourtPDF · Subscribers
Application for Order Approving Investor Committee filed Jun 3, 2025PDF · Subscribers
Affidavit #1 of Ken Davidson filed Jun 2, 2025PDF · Subscribers
Application submitted by OKR Entities in Support of Transition Order filed Jun 2, 2025
  • Presiding officer Justice C.D. Simard
PDF · Subscribers
Bench Brief submitted by OKR Entities in Support of Transition Order Application filed Jun 2, 2025PDF · Subscribers
Affidavit #4 of Llewellyn Turnquist filed May 29, 2025PDF · Subscribers
OKR Notice to Stakeholders - CCAAPDF · Subscribers
Monitor's Third Report to CourtPDF · Subscribers
OKR Entities Investor package re Investor SoundingPDF · Subscribers
OKR Notice to Stakeholders - CCAA Info SessionPDF · Subscribers
Amended and Restated Initial Order in CCAA Proceedings - Filed April 10, 2025PDF · Subscribers
Monitor's Second Report to Court
  • Recovery outcome Entries: per liquidation_alternative; per liquidation_alternative · Table missing:
PDF · Subscribers
Supplemental Bench Brief submitted on behalf of Certain Investors in Opposition to CCAA Application and Proposal for Liquidation Management filed Mar 31, 2025PDF · Subscribers
Application submitted by OKR Entities for Comeback Hearing filed Mar 28, 2025
  • Counsel Cassels Brock & Blackwell LLP
PDF · Subscribers
Bench Brief submitted by OKR Entities in Support of Comeback Application filed Mar 28, 2025PDF · Subscribers
Bench Brief submitted on behalf of Certain Investors in Opposition to CCAA Application and Proposal for Liquidation ManagementPDF · Subscribers
Filed Transcript of Mar 25 Mills Cross Examination, filed Mar 28. 2025PDF · Subscribers
First Undertaking Responses of W MillsPDF · Subscribers
Filed Transcript of Mar 13 Turnquist Cross Examination, filed Mar 27, 2025PDF · Subscribers
OKR CCAA Stakeholder Update Q&APDF · Subscribers
OKR Investor Update – CCAAPDF · Subscribers
OKR Investor Update – CCAA with scriptPDF · Subscribers
Filed Transcript of Mar 12 Turnquist Cross Examination, filed Mar 25, 2025PDF · Subscribers
Affidavit #1 of John Pinsent filed Mar 24, 2025PDF · Subscribers
Affidavit #2 of Wes Mills affirmed Mar 24, 2025PDF · Subscribers
First Undertaking Responses of J. Pinsent filed Mar 24, 2025PDF · Subscribers
Court Order
  • Presiding officer Justice G.A. Campbell
PDF · Subscribers
Notice of Cross-Application filed Mar 17, 2025PDF · Subscribers
Application for Amended and Restated Initial Order in CCAA ProceedingsPDF · Subscribers
Application for Amended and Restated Initial Order in CCAA Proceedings - Filed Mar 14, 2025PDF · Subscribers
Bench Brief submitted by OKR Entities in Support of Comeback Application for Amended and Restated Initial Order - Filed Mar 14, 2025PDF · Subscribers
Affidavit #1 of John Macinnes affirmed Mar 13, 2025PDF · Subscribers
Affidavit #1 of Wes Mills affirmed Mar 13, 2025PDF · Subscribers
Affidavit #3 of Llewellyn Turnquist affirmed Mar 13, 2025PDF · Subscribers
Monitor's First Report to Court
PDF · Subscribers
Initial Order
  • Applicant OKR GOVERNANCE CO. INC., OLD KENT ROAD FINANCIAL ADMINCO LTD., OKR PREMIUM FUND GP I LTD., OKR PREMIM FUND II GP INC., OKR PREMIUM FUND III GP INC., OLD KENT ROAD INCOME FUND I GP – A INC., OKR DIVERSIFIED FUND I GP INC., OKR INSTITUTIONAL FUND GP I INC., OKR INSTITUTIONAL FUND GP II INC., and OKR I
  • Appointee PricewaterhouseCoopers Inc. LIT
  • Appointee role monitor
  • Commencement date 7 March 2025
  • + 3 more extracted facts
PDF · Subscribers
Letter to Investors from Field LawPDF · Subscribers
OKR - Creditor Listing
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Bench Brief submitted on behalf of Certain Investors representing 20% of the funds investedPDF · Subscribers
CCAA FAQPDF · Subscribers
Bench Brief submitted on behalf of OKR Governance Co. Ltd. in support of Originating Application filed Mar 3, 2025PDF · Subscribers
First Undertaking Responses of L. Turnquist filed Feb 28, 2025PDF · Subscribers
Originating Application filed Feb 28, 2025
  • Applicant OKR GOVERNANCE CO. INC., OLD KENT ROAD FINANCIAL ADMINCO LTD., OKR PREMIUM FUND GP I LTD., OKR PREMIM FUND II GP INC., OKR PREMIUM FUND III GP INC., OLD KENT ROAD INCOME FUND I GP – A INC., OKR DIVERSIFIED FUND I GP INC., OKR INSTITUTIONAL FUND GP I INC., OKR INSTITUTIONAL FUND GP II INC., and OKR I
  • Appointee PwC
  • Appointee role Monitor
  • Court COURT OF KING’S BENCH OF ALBERTA
  • + 2 more extracted facts
PDF · Subscribers
Second Undertaking Responses of L. Turnquist filed Feb 28, 2025PDF · Subscribers
Affidavit #1 of Llewellyn Turnquist affirmed Feb 26, 2025PDF · Subscribers
Affidavit #2 of Llewellyn Turnquist affirmed Feb 26, 2025PDF · Subscribers
Book of Authorities of the Monitor (Cassels), filed September 4, 2024, excluding tabsPDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “OKR Group of Companies” (CCAA), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/okr-group-of-companies

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Sources last checked · summary updated 12 August 2026 · Report a correction · Printed from proceedings.ca/case/okr-group-of-companies

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.