Proceedings.

Pacer Promec Energy Corporation

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Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Court
Court of King's Bench of Alberta
File
1501-02652
Filings held47
Last activity30 Jan 2024
On the record4,213 days
Secured debt$26.2M
OverviewSummary updated

Pacer Promec Energy Corporation has been in court-appointed receivership in Alberta since March 10, 2015, when the Court of King's Bench of Alberta pronounced an order appointing FTI Consulting Canada Inc. as receiver and manager. The proceeding was brought under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, and is carried on Court File No. 1501-02652. The receivership remains active. The record before this page does not carry further reported steps in the administration beyond the appointment itself.

Claims processIf you are owed money

The claims bar date has passed — claims were due by

Per the Notice to Creditors - Claims Procedure Order dated 12 May 2015.

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Case updates47 dated entries
Parties

Debtor

Pacer Promec Energy Corporation

Receiver

FTI

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice NixonCourt of King's Bench of Alberta5 orders, May 2015 – Nov 201636 cases on record
Justice HornerCourt of King's Bench of Alberta2 orders, Sep 201550 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverFTIDentons Canada LLP4 May 2015Application · 4 May 2015
DebtorPacer Promec Energy CorporationStikeman Elliott LLP28 Oct 2016Service list · 28 Oct 2016
CreditorAlexander Clayton MontagueJensen Shawa Solomon Duguid Hawkes LLP28 Oct 2016Service list · 28 Oct 2016
CreditorAluma Systems IncWalsh Wilkins Creighton LLP28 Oct 2016Service list · 28 Oct 2016
CreditorBigLand Geomatics LtdMiller Thomson LLP28 Oct 2016Service list · 28 Oct 2016
CreditorBreton N.D. Testing IncorporatedMcMurray Law Office28 Oct 2016Service list · 28 Oct 2016
CreditorCanadian Natural ResourcesParlee McLaws LLP28 Oct 2016Service list · 28 Oct 2016
CreditorConstruction Promec IncLavery, De Billy, LLP28 Oct 2016Service list · 28 Oct 2016
CreditorECCO Equipment CorpMcLennan Ross LLP28 Oct 2016Service list · 28 Oct 2016
CreditorFDS Prime Energy Services LtdSnyder & Associates LLP28 Oct 2016Service list · 28 Oct 2016
CreditorGE Canada Equipment Financing G.PGowling Lafleur Henderson LLP (now Gowling WLG (Canada) LLP)28 Oct 2016Service list · 28 Oct 2016
CreditorLeavitt Machinery General PartnershipBishop & McKenzie LLP28 Oct 2016Service list · 28 Oct 2016
CreditorMammoet Canada IncDentons Canada LLP28 Oct 2016Service list · 28 Oct 2016
CreditorManseau & Perron IncScott Venturo LLP28 Oct 2016Service list · 28 Oct 2016
CreditorPanels and Pipes IncorporatedMcLeod Law LLP28 Oct 2016Service list · 28 Oct 2016
CreditorRNS Scaffolding Inc. EMCO Corporation, operating as Westlund and Westlund Industrial Steeplejack Services (Contracting) IncWitten LLP28 Oct 2016Service list · 28 Oct 2016
CreditorShackleton Duke LtdReynolds Mirth Richards & Farmer LLP28 Oct 2016Service list · 28 Oct 2016
Capital structureAs asserted in the filings
stated amounts, drawn to scale · 2 named without a figure
#Priority classCreditorAmountSource
3Deemed trusts (CRA and other)Canada Revenue Agency · in 926 casesDeemed trust under subsection 227(4) Income Tax Act, subsection 23(3) Canada Pension Plan Act, subsection 86(2) Employment Insurance Act — Deemed trust claim for unremitted employee payroll source deductions — debtor: Pacer Promec Energy Corporation$2.72MFirst Report of the Receiver
4SecuredPacer Construction Holdings Corporation (subrogated to National Bank of Canada)Credit Agreement (originally a demand revolving credit facility of up to $30.0 million with National Bank); general security interest in all real and personal property of PPEC and PPEC Construction (per Receiver's Counsel opinion) — Pacer paid National Bank $26,227,046.49 pursuant to its guarantee (Letter Agreement dated Mar 5, 2015) in full satisfaction of PPEC's indebtedness to National Bank and was subrogated to National Bank's rights; National Bank had issued a NOI to enforce security Feb 18, 2015; Pacer is a related party (50% shareholder of PPEC); prose approximation elsewhere states 'ap · as of 5 Mar 2015$26.2MFirst Report of the Receiver
4SecuredPacer Construction Holdings CorporationSubordinated secured advance (cash advances) — Secured cash advances used to fund PPEC's operations from Nov 2014 to Date of Appointment (Mar 10, 2015); subordinated to the Credit Agreement/National Bank (now Pacer) security; Receiver had not yet completed review of validity/enforceability of related security documents as of report date; Pacer is a related party (50% shareholder) — debtor: Pacer Promec Energy Corporation$21.9MFirst Report of the Receiver
4SecuredLien creditors (group of 6 with liens exceeding $1 million each)Construction/builders' liens registered against PPEC property relating to CNRL and Krupp Contracts — Combined amount of liens registered by 6 creditors each having filed liens in excess of $1 million; validity, quantum and priority of liens to be determined via Claims Procedure; numerous additional (smaller) lienholders exist but are not separately quantified in this document — debtor: Pacer Promec Energy Corporation$16.1MFirst Report of the Receiver
4SecuredCanadian Western Bank · in 80 casesSecured claim against certain PPEC machinery/equipment — Receiver's counsel had not completed review of security as against the machinery and equipment as of report date; Receiver's Charge/Borrowing Charge did not prime this security — debtor: Pacer Promec Energy Corporation—First Report of the Receiver
4SecuredGE Finance Canada Ltd.Secured claim against certain PPEC machinery/equipment — Receiver's counsel had not completed review of security as against the machinery and equipment as of report date; Receiver's Charge/Borrowing Charge did not prime this security — debtor: Pacer Promec Energy Corporation—First Report of the Receiver

“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

RecoveriesAs declared or paid

Unsecured creditors: no distribution.FinalFifth Report of the Receiver · 15 Jan 2024

ClassCreditorClaimsRecoveryBasisSource
Unsecured——no distributionFinalper the receiverFifth Report of the Receiver · 15 Jan 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.

Fees and ratesAs stated in the filings

2 engagements · 2 firms — latest: FTI Consulting Canada Inc., 10 Mar – 31 Jul 2015, $1,666,451.50 in feesSecond Report of the Receiver · 4 Sep 2015

FirmPeriodHoursFeesRatesSource
Dentons Canada LLPCounsel10 Mar – 27 Jul 2015—$481,902.50not statedSecond Report of the Receiver · 4 Sep 2015
FTI Consulting Canada Inc.Receiver10 Mar – 31 Jul 2015—$1,666,451.50not statedSecond Report of the Receiver · 4 Sep 2015
Estate financialsReported figures — never derived
Total assets at filing$68.5M
Total liabilities at filing$118M

As at 31 Jan 2015 · per unaudited consolidated financial statements · consolidated - Pacer Promec Energy Corporation and its wholly-owned subsidiary Pacer Promec Energy Construction Corporation — Current assets: $32.1M AR, $30.2M WIP, $133,204 prepaid, ~$6.0M net book value capital assets. Current liabilities: $94.0M ($59.3M trade AP, $24.5M bank indebtedness, $5.2M accrued liabilities, $4.2M wage/payroll liabilities). Long-term liabilities $23.9M, composed almost entirely of funds due to shareholders (as at Jan 31, 2015; some shareholder advances made after this date).

Documents
47 filings
DateDocumentFile
Receiver's Completion Certificate
  • Commencement date 10 March 2015
  • Court COURT OF KING'S BENCH OF ALBERTA
  • Court file no 1501-02652
PDF
Discharge Order
  • Presiding officer Justice Reed
PDF
Application - Distribution and DischargePDF
Fifth Report of the Receiver
  • Recovery outcome Entries: per actual · Stated on: 2024-01-15 · Table missing:
PDF
Receiver's CertificatePDF
Consent Order (re: KEP - to return lien bond to tkIS)
  • Presiding officer Justice B. Nixon
PDF
Consent Order (re: MLMR - to return lien bond to tkIS)
  • Presiding officer Justice B. Nixon
PDF
Letter to Service List
  • Counsel Witten LLP
PDF
Order (Administration)
  • Presiding officer Justice B. Nixon
PDF
Order (Approval of Settlement Agreement)
  • Presiding officer Justice B. Nixon
PDF
Order (Sealing Confidential Appendix to the Fourth Report of the Receiver)PDF
ApplicationPDF
Fourth Report of the ReceiverPDF
Service List
  • Counsel Dentons Canada LLP
PDF
Order - Distribution to Equipment Lessors
  • Presiding officer Justice A.D. Macleod
PDF
Application by FTI Consulting Canada Inc., returnable November 17, 2015PDF
Third Report of the ReceiverPDF
Order granted regarding GE by Justice Horner
  • Presiding officer Justice Horner
PDF
Administration Order
  • Presiding officer Justice K.M. Horner
PDF
Approval and Vesting OrderPDF
Sealing Confidential Appendix to 2nd Report of the Receiver OrderPDF
Second Report of the Receiver
  • Fee schedule Engagements: Form: invoice_listing · Rows: · Money: Fees: $1.67M · Quote: includes fees of $1,666,451.50 and expenses of $168,321.91 · Total: $1.83M · Quote: The total fees of the Receiver during the period of March 10, 2015 to July 31, 2015 (the "Period") amount to $1,834,773.41 (excluding GST) · includes disbursements · Approximate: false · Disbursements: $168K · Quote: includes fees of $1,666,451.50 and expenses of $168,321.91 · Period: End: 2015-07-31 · Kind: invoice · Label: Period · Quote: The total fees of the Receiver during the period of March 10, 2015 to July 31, 2015 (the "Period") · Start: 2015-03-10 · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 22475 · Date: 2015-03-31 · Fees: 404182 · Quote: 3/31/2015 | $ 404,182 | $ 45,323 | $ 22,475 | $ 471,980 · Total: 471980 · Disbursements: 45323; Tax: 20114 · Date: 2015-04-30 · Fees: 366660 · Quote: 4/30/2015 | $ 366,660 | $ 35,627 | $ 20,114 | $ 422,401 · Total: 422401 · Disbursements: 35627; Tax: 16189 · Date: 2015-05-31 · Fees: 298093 · Quote: 5/31/2015 | $ 298,093 | $ 25,695 | $ 16,189 | $ 339,977 · Total: 339977 · Disbursements: 25695; Tax: 17606 · Date: 2015-06-30 · Fees: 314870 · Quote: 6/30/2015 | $ 314,870 | $ 37,247 | $ 17,606 | $ 369,723 · Total: 369723 · Disbursements: 37247; Tax: 15354 · Date: 2015-07-31 · Fees: 282648 · Quote: 7/31/2015 | $ 282,648 | $ 24,430 | $ 15,354 | $ 322,431 · Total: 322431 · Disbursements: 24430 · Firm text: FTI Consulting Canada Inc. · Firm quote: SECOND REPORT OF FTI CONSULTING CANADA INC., IN ITS CAPACITY AS COURT APPOINTED RECEIVER AND MANAGER OF PACER PROMEC ENERGY CORPORATION AND PACER PROMEC ENERGY CONSTRUCTION CORPORATION · Context quote: FTI Consulting Canada Inc. in its capacity as receiver and manager of the assets undertakings and properties Pacer Promec Energy Corporation and Pacer Promec Construction Corporation; Form: invoice_listing · Rows: · Money: Fees: $482K · Quote: includes fees of $481,902.50 and disbursements of $21,268.21 · Total: $503K · Quote: The total amount invoiced by Dentons during the period March 10, 2015 to July 27, 2015, is $503,170.71 (excluding GST) · includes disbursements · Approximate: false · Disbursements: $21.3K · Quote: includes fees of $481,902.50 and disbursements of $21,268.21 · Period: End: 2015-07-27 · Kind: invoice · Quote: The total amount invoiced by Dentons during the period March 10, 2015 to July 27, 2015 · Start: 2015-03-10 · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 6889 · Date: 2015-04-21 · Fees: 136613 · Quote: 4/21/2015 | $ 136,613 | $ 1,163 | $ 6,889 | $ 144,665 · Total: 144665 · Disbursements: 1163; Tax: 12662 · Date: 2015-06-26 · Fees: 247939 · Quote: 6/26/2015 | $ 247,939 | $5,597 | $ 12,662 | $ 266,197 · Total: 266197 · Disbursements: 5597; Tax: 2612 · Date: 2015-07-27 · Fees: 49122 · Quote: 7/27/2015 | $ 49,122 | $ 11,420 | $ 2,612 | $ 63,154 · Total: 63154 · Disbursements: 11420; Tax: 1111 · Date: 2015-06-23 · Fees: 20336 · Quote: 6/23/2015 | $ 20,336 | $ 1,880 | $ 1,111 | $ 23,327 · Total: 23327 · Disbursements: 1880; Tax: 1455 · Date: 2015-07-27 · Fees: 27894 · Quote: 7/27/2015 | $27,894 | $ 1,209 | $ 1,455 | $ 30,557 · Total: 30557 · Disbursements: 1209 · Firm text: Dentons Canada LLP · Firm quote: Dentons Canada LLP 15th Floor, Bankers Court, 850 – 2ⁿd Street SW Calgary, AB T2P 0R8 David Mann / David LeGeyt · Context quote: The total amount invoiced by Dentons during the period March 10, 2015 to July 27, 2015, is $503,170.71 (excluding GST), which includes fees of $481,902.50 and disbursements of $21,268.21 (collectively, the "Denton's Fees and Disbursements").
PDF
Claims Order - FORM 31 - Proof of ClaimPDF
Notice to Creditors - Claims Procedure Order
  • Claims bar date 19 June 2015
  • Order date 12 May 2015
PDF
Filed copy of the Order granted by Justice Nixon on May 7, 2015
  • Presiding officer Justice Nixon
PDF
Order re. approval and vesting granted by Justice B. Nixon on May 7, 2105PDF
Pacer Construction Holdings Corporatio's Brief of Law and Argument for the application returnable May 7PDF
Affidavit of Joel Thompson (sworn May 6, 2015)PDF
Bench Brief of Construction Promec Inc.PDF
Filed Affidavit of Patrice DaubaPDF
Filed Affidavit of Robert CorriveauPDF
Letter from Rose LLPPDF
Letter to Dentons from Miller ThompsonPDF
Statement of Lien with encumbrance reportPDF
Affidavit of Paul LafrenuerePDF
Application on behalf of Construction Promec Inc., returnable May 7, 2015
  • Counsel Dentons Canada LLP
PDF
Proof of Filing - Application returnable May 7, 2015PDF
Proof of Filing - Brief of LawPDF
Proof of Filing - First Report of the Receiver, dated May 1, 2015PDF
Application by the ReceiverPDF
First Report of the Receiver
  • Financial position Assets $68.5M · Liabilities $118M · as at 31 Jan 2015 · per unaudited consolidated financial statements · consolidated - Pacer Promec Energy Corporation and its wholly-owned subsidiary Pacer Promec Energy Construction Corporation — Current assets: $32.1M AR, $30.2M WIP, $133,204 prepaid, ~$6.0M net book value capital assets. Current liabilities: $94.0M ($59.3M trade AP, $24.5M bank indebtedness, $5.2M accrued liabilities, $4.2M wage/payroll liabilities). Long-term liabilities $23.9M, composed almost entirely of funds due to shareholders (as at Jan 31, 2015; some shareholder advances made after this date).
  • Secured creditors $26.2M · Note: Pacer paid National Bank $26,227,046.49 pursuant to its guarantee (Letter Agreement dated Mar 5, 2015) in full satisfaction of PPEC's indebtedness to National Bank and was subrogated to National Bank's rights; National Bank had issued a NOI to enforce security Feb 18, 2015; Pacer is a related party (50% shareholder of PPEC); prose approximation elsewhere states 'approximately $26.2 million' · Page: 50 · As of: 2015-03-05 · Debtor: Pacer Promec Energy Corporation · Creditor: Pacer Construction Holdings Corporation (subrogated to National Bank of Canada) · Security: Credit Agreement (originally a demand revolving credit facility of up to $30.0 million with National Bank); general security interest in all real and personal property of PPEC and PPEC Construction (per Receiver's Counsel opinion)
PDF
FAQ - SupplierPDF
Affidavit of Richard Pelletier, sworn March 6, 2015
  • Financial position Assets $68.5M · as at 31 Jan 2015 · per unaudited financial statements · Pacer Promec Energy Corporation, consolidated with its wholly-owned subsidiary Pacer Promec Energy Construction Corporation — Assets ($68,476,066) comprise current assets of $62,499,375 (accounts receivable $32,137,515, work in progress $30,228,655, prepaid expenses $133,204) and capital assets net book value $5,976,690. Liabilities are stated in components only, not as a total: current liabilities of $94,031,745.36 (trade accounts payable $59,294,096, bank indebtedness $24,525,424, accrued liabilities $5,235,959, wage/payroll liabilities $4,240,934) and long-term liabilities of $23,929,413 (almost entirely funds due to shareholders); no combined total liabilities figure is stated in the document. Separately, PPEC's unaudited financial statements for the year ended December 31, 2014 show a net loss of $48,275,028.66 (income statement item, not part of this balance-sheet position); a projected aggregate loss of $63 million on construction contracts is a forecast figure.
  • Secured creditors Note: Related party: Pacer is a 50% shareholder of PPEC. Became secured creditor of PPEC on March 5, 2015 after satisfying PPEC's obligations to National Bank under its guarantee, thereby being subrogated to the bank's rights and taking an assignment of the bank's security. Exact amount satisfied/assigned not stated in this excerpt. · Page: 3 · As of: March 5, 2015 (subrogation/assignment date) · Debtor: Pacer Promec Energy Corporation · Creditor: Pacer Construction Holdings Corporation · Currency: CAD · Security: By subrogation to National Bank's rights under the Credit Agreement, and by assignment of National Bank's General Security Agreement, Hypothec on Universality of Movable Property ($48,000,000 registered principal), and Deposit Security Agreement
PDF
Notice of Application, returnable March 10, 2015 at 3:00 p.m
  • Secured creditors $26.2M · Note: Related party: Pacer is a 50% shareholder of PPEC. Pacer honoured its Guarantee and Subordination Agreement (dated May 23, 2014) by paying PPEC's debt to National Bank of Canada in full on March 5, 2015, was subrogated to National Bank's rights, and took an assignment of National Bank's security (the 'Assignment') same day. Amount stated ($26,229,431.71 'plus applicable interest') is the Indebtedness now owed to Pacer. National Bank had earlier demanded $26,043,421.37 in principal and interest from PPEC as of February 18, 2015 (per s.244 BIA demand notice); that amount was fully paid and the debt/security transferred to Pacer, so National Bank of Canada is no longer a creditor as of the application. · As of: 2015-03-05 · Debtor: Pacer Promec Energy Corporation (PPEC) · Creditor: Pacer Construction Holdings Corporation · Security: General Security Agreement dated May 23, 2014 (registered AB PPR #14052332978; Land Charge #14052332997); Hypothec on the Universality of Movable Property dated May 23, 2014 (registered QC RPMRR #14-0469469-0001); Set-Off and Security Agreement re Deposits dated April 9, 2014 (registered QC RPMRR #14-0311999-0007 and AB PPR #14041710023) — all originally granted by PPEC to National Bank of Canada and assigned to Pacer on March 5, 2015
PDF
Notice to Known CreditorsPDF
Receivership OrderPDF
Statement of Claim, issued on Monday March 9, 2015PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Pacer Promec Energy Corporation” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/pacer-promec-energy-corporation

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Sources last checked · summary updated 9 August 2026 · Report a correction · Printed from proceedings.ca/case/pacer-promec-energy-corporation

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.