Pathfinder Energy Ltd. and MCK Energy Inc.
FollowActive
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, sections 13(2) of the Judicature Act, 99(a) of the Business Corporations Act, and 65(7) of the Personal Property Security Act
- File
- 2501-15789
Filings held15
Last activity20 Feb 2026
On the record349 days
Secured debt$10.3M
OverviewSummary updated
Pathfinder Energy Ltd. and MCK Energy Inc. have been in a court-appointed receivership since October 7, 2025, under section 243 of the Bankruptcy and Insolvency Act in the Court of King's Bench of Alberta, file 2501-15789. The Receiver puts the combined estimated assets of the two debtors at $28,000,221.95 as at June 30, 2025, drawn from unaudited management figures it has not verified. Royal Bank of Canada holds secured claims of $10,257,571.25 against Pathfinder, secured on property and business locations near Hardisty and Rocky Mountain House, Alberta. Unsecured claims listed against Pathfinder include Bennett Jones LLP in trust at $399,353.64, Candor Engineering Ltd at $357,419.34, the Receiver General at $333,760.90 and Clearwater County at $82,258.53. MCK owes Pathfinder $1,343,114.04 on intercompany account.
Proceedings AIAsk this case — answers cite the filings
Case updates14 dated entries · 2 undated
Parties
Debtor
Pathfinder Energy Ltd. and MCK Energy Inc.
Applicant
RBC
Receiver
GlassRatner
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Little | Court of King's Bench of Alberta | 2 orders, Feb 2026 | 39 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverGlassRatner | Cassels Brock & Blackwell LLP | 13 Feb 2026 | Service list · 13 Feb 2026 |
| ApplicantRBC | Borden Ladner Gervais LLP | 13 Feb 2026 | Service list · 13 Feb 2026 |
| CreditorAlberta Electric System Operator | Norton Rose Fulbright Canada LLP | 13 Feb 2026 | Service list · 13 Feb 2026 |
| CreditorPaul Pepin and Andrew Love | Carscallen Leitch LLP | 13 Feb 2026 | Service list · 13 Feb 2026 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 556 casesSecurity on Debtors' property/business locations near Hardisty, AB and Rocky Mountain House, AB (nature of security instrument not further specified) — Page 2 recites the amount as '$10,257.571.25' (apparent decimal-point typo); the itemized creditor list on page 3 gives the exact figure $10,257,571.25, which is used here as the amount. — debtor: Pathfinder Energy Ltd. | $10.3M | Notice and Statement of the Receiver |
| 8 | Unsecured | Pathfinder Energy Ltd. · in 2 casesRelated party (co-Debtor entity in the receivership); corresponds to 'Due from MCK Energy' receivable of $1,343,114.04 recorded on Pathfinder Energy Ltd.'s asset schedule (page 1). — debtor: MCK Energy Inc. | $1.34M | Notice and Statement of the Receiver |
| 8 | Unsecured | Bennett Jones LLP - In Trustdebtor: Pathfinder Energy Ltd. | $399K | Notice and Statement of the Receiver |
| 8 | Unsecured | Candor Engineering Ltddebtor: Pathfinder Energy Ltd. | $357K | Notice and Statement of the Receiver |
| 8 | Unsecured | Receiver General · in 75 casesdebtor: Pathfinder Energy Ltd. | $334K | Notice and Statement of the Receiver |
| 8 | Unsecured | Thermo Design Engineering Ltd.debtor: Pathfinder Energy Ltd. | $159K | Notice and Statement of the Receiver |
| 8 | Unsecured | Tridyne Projects Corpdebtor: Pathfinder Energy Ltd. | $122K | Notice and Statement of the Receiver |
| 8 | Unsecured | MCK Energy Inc.Related party (co-Debtor entity in the receivership). — debtor: Pathfinder Energy Ltd. | $99.9K | Notice and Statement of the Receiver |
| 8 | Unsecured | Clearwater CountyMunicipal taxing authority; document does not label this claim as preferred. — debtor: Pathfinder Energy Ltd. | $82.3K | Notice and Statement of the Receiver |
| 8 | Unsecured | McDaniel & Associates Consultants Ltddebtor: Pathfinder Energy Ltd. | $62K | Notice and Statement of the Receiver |
| 8 | Unsecured | Flomax Compression Ltd. · in 2 casesdebtor: Pathfinder Energy Ltd. | $53.4K | Notice and Statement of the Receiver |
| 8 | Unsecured | P. Pepindebtor: Pathfinder Energy Ltd. | $39.7K | Notice and Statement of the Receiver |
| 8 | Unsecured | MNP LLP · in 63 casesdebtor: Pathfinder Energy Ltd. | $38.6K | Notice and Statement of the Receiver |
| 8 | Unsecured | Obsidian Energy Partnership · in 2 casesdebtor: Pathfinder Energy Ltd. | $37.6K | Notice and Statement of the Receiver |
| 8 | Unsecured | API Industrialdebtor: Pathfinder Energy Ltd. | $37.2K | Notice and Statement of the Receiver |
| 8 | Unsecured | MAC Economics Ltddebtor: Pathfinder Energy Ltd. | $35K | Notice and Statement of the Receiver |
| 8 | Unsecured | Green Sky Sustainability Consulting Inc.debtor: Pathfinder Energy Ltd. | $27K | Notice and Statement of the Receiver |
| 8 | Unsecured | Big Horn Electric and Controls Ltd.debtor: Pathfinder Energy Ltd. | $25.1K | Notice and Statement of the Receiver |
| 8 | Unsecured | Horizon Compliance Group Inc.debtor: Pathfinder Energy Ltd. | $23.8K | Notice and Statement of the Receiver |
| 8 | Unsecured | CPS Accounting Services Inc.debtor: Pathfinder Energy Ltd. | $22.7K | Notice and Statement of the Receiver |
| 8 | Unsecured | EPCOR · in 49 casesdebtor: Pathfinder Energy Ltd. | $18.1K | Notice and Statement of the Receiver |
| 8 | Unsecured | Benoit Regulatory Compliance Inc. · in 2 casesdebtor: Pathfinder Energy Ltd. | $13.3K | Notice and Statement of the Receiver |
| 8 | Unsecured | Integrity Land Inc.debtor: Pathfinder Energy Ltd. | $12.8K | Notice and Statement of the Receiver |
| 8 | Unsecured | Weyerhaeuser Company Ltd.debtor: Pathfinder Energy Ltd. | $9.64K | Notice and Statement of the Receiver |
| 8 | Unsecured | Caribou Electricdebtor: Pathfinder Energy Ltd. | $9.18K | Notice and Statement of the Receiver |
| 8 | Unsecured | Amar Surveys Ltddebtor: Pathfinder Energy Ltd. | $7.77K | Notice and Statement of the Receiver |
| 8 | Unsecured | Vertex Professional Services Ltd. · in 3 casesdebtor: Pathfinder Energy Ltd. | $6.73K | Notice and Statement of the Receiver |
| 8 | Unsecured | Rising Edge Technologies (Eng) Ltddebtor: Pathfinder Energy Ltd. | $6.52K | Notice and Statement of the Receiver |
| 8 | Unsecured | PCA Valence Engineering Tech Ltddebtor: Pathfinder Energy Ltd. | $6.34K | Notice and Statement of the Receiver |
| 8 | Unsecured | Canadian Natural Resources Ltd · in 2 casesdebtor: Pathfinder Energy Ltd. | $5.9K | Notice and Statement of the Receiver |
| 8 | Unsecured | KadTek Automation Inc.debtor: Pathfinder Energy Ltd. | $5.72K | Notice and Statement of the Receiver |
| 8 | Unsecured | Hale Electricdebtor: Pathfinder Energy Ltd. | $5.66K | Notice and Statement of the Receiver |
| 8 | Unsecured | O'Chiesedebtor: Pathfinder Energy Ltd. | $4.8K | Notice and Statement of the Receiver |
| 8 | Unsecured | Streamline Integrity Inc · in 2 casesdebtor: Pathfinder Energy Ltd. | $4.23K | Notice and Statement of the Receiver |
| 8 | Unsecured | North Shore Environmental Consultants Incdebtor: Pathfinder Energy Ltd. | $3.79K | Notice and Statement of the Receiver |
| 8 | Unsecured | Consulted Computer and Network Servicesdebtor: Pathfinder Energy Ltd. | $3.66K | Notice and Statement of the Receiver |
| 8 | Unsecured | Atcodebtor: Pathfinder Energy Ltd. | $3.63K | Notice and Statement of the Receiver |
| 8 | Unsecured | Rodan Energy Solutions Corpdebtor: Pathfinder Energy Ltd. | $3.26K | Notice and Statement of the Receiver |
| 8 | Unsecured | Conly Compression Inc.debtor: Pathfinder Energy Ltd. | $2.37K | Notice and Statement of the Receiver |
| 8 | Unsecured | L. Morishitadebtor: Pathfinder Energy Ltd. | $1.96K | Notice and Statement of the Receiver |
| 8 | Unsecured | West Lake Energydebtor: Pathfinder Energy Ltd. | $1.85K | Notice and Statement of the Receiver |
| 8 | Unsecured | B. Floyd and C. Martinsondebtor: Pathfinder Energy Ltd. | $1.5K | Notice and Statement of the Receiver |
| 8 | Unsecured | WCB · in 16 casesdebtor: Pathfinder Energy Ltd. | $1.31K | Notice and Statement of the Receiver |
| 8 | Unsecured | Tempest Solutions Ltd.debtor: Pathfinder Energy Ltd. | $1.22K | Notice and Statement of the Receiver |
| 8 | Unsecured | Impel Systems Incdebtor: Pathfinder Energy Ltd. | $1.1K | Notice and Statement of the Receiver |
| 8 | Unsecured | A. Lunndebtor: Pathfinder Energy Ltd. | $938 | Notice and Statement of the Receiver |
| 8 | Unsecured | Enmax · in 61 casesdebtor: Pathfinder Energy Ltd. | $490 | Notice and Statement of the Receiver |
| 8 | Unsecured | Xerox Canada Ltd · in 22 casesdebtor: Pathfinder Energy Ltd. | $475 | Notice and Statement of the Receiver |
| 8 | Unsecured | Bonness Oilfield Supply Ltd · in 2 casesdebtor: Pathfinder Energy Ltd. | $330 | Notice and Statement of the Receiver |
| 8 | Unsecured | A. Lovedebtor: Pathfinder Energy Ltd. | $174 | Notice and Statement of the Receiver |
| 8 | Unsecured | Telus Mobility 38833982debtor: Pathfinder Energy Ltd. | $152 | Notice and Statement of the Receiver |
| 8 | Unsecured | H. Mayorgadebtor: Pathfinder Energy Ltd. | $133 | Notice and Statement of the Receiver |
| 8 | Unsecured | Telus Comm 607174689 0debtor: Pathfinder Energy Ltd. | $126 | Notice and Statement of the Receiver |
| 8 | Unsecured | Alberta Boilers Safety Association · in 9 casesdebtor: Pathfinder Energy Ltd. | $62 | Notice and Statement of the Receiver |
| 8 | Unsecured | Telus Comm 607174692 5debtor: Pathfinder Energy Ltd. | $47 | Notice and Statement of the Receiver |
| 8 | Unsecured | BGOdebtor: Pathfinder Energy Ltd. | $1 | Notice and Statement of the Receiver |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesdebtor: Pathfinder Energy Ltd. | $1 | Notice and Statement of the Receiver |
Sale processAs stated in the filings
Marketed — Court-Supervised Sale & Investment Solicitation Process for the Companies' power generation and data centre assetsSISP Teaser · 20 Feb 2026
AdvisorsTwelveSix Services Ltd. (sale agent)SISP Teaser
Estate financialsReported figures — never derived
Total assets at filing$28M
As at 30 Jun 2025 · per Unaudited financial statements of the Debtors as at June 30, 2025 and other financial information provided by management; not audited, reviewed, or otherwise verified by the Receiver · Combined estimated assets of both Debtors, Pathfinder Energy Ltd. and MCK Energy Inc. — Only an asset-side estimate is stated; no liabilities/balance sheet totals are given in this notice. Detailed asset components (cash, machinery and equipment, accounts receivable, due from MCK Energy, inventory, GIC, deposits and prepaids, investment in Pathfinder Power) are itemized on page 1.
Documents
15 filings
| Date | Document | File |
|---|---|---|
SISP Teaser
| ||
| Application – Returnable February 13, 2026 | ||
Order of Justice Little (SISP Approval)
| ||
Sealing Order of Justice Little
| ||
Service List
| ||
| First Report of the Receiver | ||
Notice and Statement of the Receiver
| ||
Order of Justice Feasby (Receivership Order)
| ||
SISP Procedure
| ||
Application for Receiver and Manager
| ||
| Bench Brief of the Plaintiff | ||
| Consent to Act | ||
| Affidavit in Support of | ||
| Confidentiality and Non-Disclosure Agreement (NDA) | ||
| SISP Procedure – Schedule “1” | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Pathfinder Energy Ltd. and MCK Energy Inc.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/pathfinder-energy-ltd-and-mck-energy-inc