Petrowest Corporation et al
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 13(2) of the Judicature Act
- File
- 1701-10732
- Industry
- Construction
Petrowest Corporation and related entities are in court-appointed receivership. On 15 August 2017 the Court of King's Bench of Alberta appointed Ernst & Young Inc. as receiver and manager, on the application of the Bank of Montreal in its capacity as agent under the Second Amended and Restated Credit Agreement dated March 31, 2016, under section 243(1) of the Bankruptcy and Insolvency Act and section 13(2) of the Judicature Act (court file 1701-10732). For Petrowest GP Ltd., the statement of affairs reports total assets of $20,000.00 against total liabilities of $8,500,105.00 and a deficiency of $8,480,105.00; the largest claim is that of Crown Capital Partners Inc. at $8,500,000.00, secured against $20,000.00 in assets.
A claims procedure has been established — see the order for deadlines.
Per the Order (Claims Procedure), filed dated 17 December 2019.
Order (Adjournment of Summary Judgement Application to a Special Masters Chambers Application) — Application / notice of application
Application by the Plaintiff, filed May 17, 2021 - with forms of Order attached — Application / notice of application
The officer filed report no. Tenth Report. The receivership is largely in wind-down mode, with asset sales closed, a bankruptcy estate (Petrowest Civil Services LP) preparing a creditor distribution, litigation ongoing against several parties, and a proposed claims procedure being sought for unsecured claims against Petrowest Corporation.
The court granted an approval and vesting order for the sale to D&D Properties Ltd. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate to Purchaser.
Source: Approval and Vesting Order (Sale of Fox Creek Lands) - March 27, 2018, filed
The court granted an approval and vesting order for the sale to Ritchie Bros. Auctioneers (Canada) Ltd. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the transaction. Sealed: Second Confidential Supplement to the Sixth Report.
Source: Approval and Vesting Order (Sale of Iron to Ritchie Bros. Auctioneers)
The court granted an approval and vesting order for the sale to Wolverine Management Services Inc. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of closing conditions.
Source: Approval and Vesting Order (Sale of Nu-Northern to Wolverine Management Services Inc.)
The court granted an approval and vesting order for the sale to Canadian Natural Resources Limited. Closing terms, as extracted: Vesting effective upon delivery of the Receiver's Certificate to the Purchaser. Sealed: the APA appended to the Sixth Report in redacted form, Confidential Supplement to the Sixth Report.
Source: Approval and Vesting Order (Sale of Peejay Lanfill to CNRL)
The court granted an approval and vesting order. Closing terms, as extracted: Vesting occurs upon delivery of a Receiver's Certificate to the Purchaser. Sealed: Fifth Confidential Supplement.
Source: Approval and Vesting Order (Sale to Kosick Holdings Inc)
Bench Brief for November 22-23, 2017 Application, filed — Application / notice of application
The court granted an approval and vesting order for the sale to RBee Aggregate Consulting Ltd. Closing terms, as extracted: Vesting occurs upon delivery of a Receiver's Certificate to the Purchaser confirming payment and satisfaction of closing conditions. Sealed: Confidential Supplement to the Third Report.
The court approved a sale and investment solicitation process. A bid deadline of 2017-11-30.
Source: Order (Iron Stalking Horse Sales Process and APA), filed
The court approved a sale and investment solicitation process. A bid deadline of 2017-11-30.
Source: Order (Nu-Northern Stalking Horse Sales Process and APA)
The court approved a sale and investment solicitation process. A bid deadline of 2017-11-30.
Source: Order (Nu-Northern Stalking Horse Sales Process and APA), filed
The court granted an approval and vesting order for the sale to Timber Pro Logging Ltd. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment and satisfaction of closing conditions. Sealed: Confidential Supplement to the Second Report of the Receiver.
The court approved a sale and investment solicitation process. A bid deadline of 2017-11-16.
Source: Order (Peejay SSP & Protocol)
Application (Approval of SSP & Protocol for PeeJay Landfill - filed — Application / notice of application
The court appointed Ernst and Young Inc. as receiver and receiver and manager, on the application of BANK OF MONTREAL, in its capacity as Agent under the Second Amended and Restated Credit Agreement dated March 31, 2016. Court file 1701-10732.
On 15 August 2017 the Court of King's Bench of Alberta made the receivership order, appointing Ernst & Young Inc. as receiver and manager.
Source: Receivership Order, filed
Debtor
Petrowest Corporation et al
Receiver
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Horner | Court of King's Bench of Alberta | 7 orders, Nov 2017 – Dec 2019 | 78 cases on record |
| Justice Yamauchi | Court of King's Bench of Alberta | 4 orders, Nov 2017 – Mar 2018 | 37 cases on record |
| Justice Macleod | Court of King's Bench of Alberta | 2 orders, Aug 2017 | 33 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorPetrowest Corporation et al | McMillan LLP | 14 Aug 2017 | Application · 14 Aug 2017 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Crown Capital Partners Inc. · in 2 casesCash on Hand - in trust; claim amount $8,500,000.00 with estimated value of security $20,000.00 — Balance of claim after estimated value of security ($20,000.00) deducted from amount of claim ($8,500,000.00); security given 15-Aug-2017 — debtor: Petrowest GP Ltd. · as of 2 Apr 2018 | $8.48M | Statement of Affairs - Petrowest GP Ltd |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
70 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans13 transactions · 7 closed · 3 proposed · 1 not completed · 1 approved · 1 back-up bid — Receiver soliciting offers to purchase public land disposition SML090041 (aggregate pit near Fox Creek); offers due November 27, 2026 and may require Court approval.SML090041 - Request for Offers to Purchase · 1 Sep 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Timber Pro Logging Ltd.the Purchased Assets, as defined in the APA · asset sale · agreement 16 Oct 2017 | Subscribers | Closed1 Nov 2017 | Seventh Report of the Receiver, filed |
| Century Services Corp.Stalking horsethe Iron Purchased Assets (as defined in the Iron Stalking Horse APA) · asset sale · agreement 24 Oct 2017 | Subscribers | Not completed | Order (Iron Stalking Horse Sales Process and… |
| Rbee Aggregate Consulting Ltd.Stalking horsethe Purchased Assets (as defined in the Nu-Northern Stalking Horse APA) · asset sale · nominee/assignee: its nominee · agreement 23 Oct 2017 | Subscribers | Closed9 Nov 2017 | Seventh Report of the Receiver, filed |
| Crown Capitala sale of the RBee assets · asset sale | not stated | Closed8 Nov 2017 | PRW Fourth Receiver Report, dated November 10,… |
| Crown CapitalStalking horsethe sale of the Nu-Northern assets · asset sale | not stated | Proposed | PRW Fourth Receiver Report, dated November 10,… |
| Kosick Holdings Inc.certain crushing equipment owned and leased by Trans Carrier Ltd. · asset sale | not stated | Proposed | PRW Fourth Receiver Report, dated November 10,… |
| Hilco-Lyon-Bowling JVIron Property · auction | Subscribers | Proposed | PRW Sixth Receiver Report |
| Canadian Natural Resources Limitedthe Purchased Assets described in the APA · asset sale · nominee/assignee: its nominee or nominees · agreement 4 Dec 2017 | Sealed | Approved12 Dec 2017 | Approval and Vesting Order (Sale of Peejay… |
| Ritchie Bros. Auctioneers (Canada) Ltd.the Purchased Assets described in the APA · auction · nominee/assignee: its nominee · agreement 8 Dec 2017 | Subscribers | Closed19 Dec 2017 | Seventh Report of the Receiver, filed |
| Wolverine Management Services Inc.the Purchased Assets described in the APA · asset sale | Subscribers | Closed26 Jan 2018 | Seventh Report of the Receiver, filed |
| Canadian Natural Resources Ltd.Peejay Landfill / CNRL assets · asset sale · agreement 4 Dec 2017 | Sealed | Back-up bid | Seventh Report of the Receiver, filed |
| Kosick Aggregates Inc.certain gravel crushing assets · asset sale | not stated | Closed1 Dec 2017 | Seventh Report of the Receiver, filed |
| D&D Properties Ltd.the Debtors' right, title and interest in and to the Lands as defined and described in the Fox Creek APS · real property · nominee/assignee: its nominee or nominees · agreement 17 Mar 2018 | Subscribers | Closed16 Apr 2018outside 13 Dec 2017 | Tenth Report of the Receiver, filed |
Unsecured creditors: a distribution. Crown Capital a distribution · the Syndicate paid in full · Wells Fargo paid in full.EstimatedTenth Report of the Receiver, filed · 9 Dec 2019
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Bank of Montreal, as Agent for the Syndicate | — | paid in full | Finalper the receiver | Application, filed (returnable March 13_18) · 5 Mar 2018 |
| Secured | Crown Capital | — | Finalper the receiver | PRW Sixth Receiver Report · 4 Dec 2017 | |
| Secured | the Syndicate | — | paid in full | Finalper the receiver | Application, filed · 5 Feb 2018 |
| PMSI / lessor | the Syndicate, Crown Capital Partners IV, LP, and all equipment lessors | — | paid in full | Finalper the receiver | Tenth Report of the Receiver, filed · 9 Dec 2019 |
| PMSI / lessor | Wells Fargo | — | paid in full | Estimatedper the receiver | PRW Fourth Receiver Report, dated November 10, 2017, filed · 10 Nov 2017 |
| Unsecured | unsecured creditors of Petrowest Civil Services LP | — | a distribution | Estimatedper the trustee | Tenth Report of the Receiver, filed · 9 Dec 2019 |
| Unsecured | Aviva Insurance Company of Canada | — | paid in fullconditional | per the receiver | Tenth Report of the Receiver, filed · 9 Dec 2019 |
| Equity | shareholders of Petrowest Corporation | — | no recovery | Estimatedper the receiver | Seventh Report of the Receiver, filed · 5 Feb 2018 |
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.
2 blurred figures 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
$958K
As at 9 Dec 2019Tenth Report of the Receiver, filed
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 |
|---|---|---|
SML090041 - Request for Offers to Purchase
| PDF · Subscribers | |
Order (Adjournment of Summary Judgement Application to a Special Masters Chambers Application)
| PDF · Subscribers | |
Application by the Plaintiff, filed May 17, 2021 - with forms of Order attached
| PDF · Subscribers | |
| Affidavit of P. Chisholm, sworn May 12, 2021 | PDF · Subscribers | |
Formal notice requesting that Proofs of Claim of Creditors of Petrowest Civil Services LP wishing to file a claim be filed with the Trustee by February 18, 2020
| PDF · Subscribers | |
| Proof of Claim form and related instructions in connection with the Notice requesting Proofs of Claim from Creditors of Petrowest Civil Services LP dated January 22, 2020 | PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Order (Claims Procedure), filed
| PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
Application (Claims Procedure and Interim Distribution), filed
| PDF · Subscribers | |
Tenth Report of the Receiver, filed
| PDF · Subscribers | |
Notice of Bankruptcy and First Meeting of Creditors Final
| PDF · Subscribers | |
| Proof of Claim and Instructions | PDF · Subscribers | |
| Proxy | PDF · Subscribers | |
| Statement of Affairs - Petrowest Civil Services LP | PDF · Subscribers | |
| Statement of Affairs - Petrowest Construction LP | PDF · Subscribers | |
Statement of Affairs - Petrowest GP Ltd
| PDF · Subscribers | |
| Statement of Affairs - Petrowest Services Rentals LP | PDF · Subscribers | |
| Statement of Affairs - TCL | PDF · Subscribers | |
Approval and Vesting Order (Sale of Fox Creek Lands) - March 27, 2018, filed
| PDF · Subscribers | |
| Application, filed March 19, 2018 (returnable ) | PDF · Subscribers | |
Ninth Report of the Receiver, dated and filed
| PDF · Subscribers | |
Order (Approval of Debt Allocation and Corporate Allocation), filed
| PDF · Subscribers | |
Order (Release of Aventur Holdback), filed
| PDF · Subscribers | |
Application, filed (returnable March 13_18)
| PDF · Subscribers | |
| Eighth Report of the Receiver, dated and filed | PDF · Subscribers | |
| Consent Order (Return of Security Deposits), filed | PDF · Subscribers | |
Order (Authorizing Assignments Into Bankruptcy), filed
| PDF · Subscribers | |
| Bench Brief of the Receiver, filed | PDF · Subscribers | |
Application, filed
| PDF · Subscribers | |
Seventh Report of the Receiver, filed
| PDF · Subscribers | |
Approval and Vesting Order (Sale of Iron to Ritchie Bros. Auctioneers)
| PDF · Subscribers | |
Approval and Vesting Order (Sale of Nu-Northern to Wolverine Management Services Inc.)
| PDF · Subscribers | |
Approval and Vesting Order (Sale of Peejay Lanfill to CNRL)
| PDF · Subscribers | |
Order (Interim Distribution), filed
| PDF · Subscribers | |
Sealing Order, filed
| PDF · Subscribers | |
PRW Supplemental Sixth Receiver Report
| PDF · Subscribers | |
PRW Sixth Receiver Report
| PDF · Subscribers | |
Approval and Vesting Order (Sale to Kosick Holdings Inc)
| PDF · Subscribers | |
Order (Authority of Receiver to Sell)
| PDF · Subscribers | |
Application by Receiver - filed
| PDF · Subscribers | |
| Bench Brief for November 22-23, 2017 Application, filed | PDF · Subscribers | |
PRW Fifth Report of the Receiver, filed
| PDF · Subscribers | |
PRW Fourth Receiver Report, dated November 10, 2017, filed
| PDF · Subscribers | |
Nu-Northern Rentals - Opportunity Summary - final
| PDF · Subscribers | |
Order (Iron Stalking Horse Sales Process and APA), filed
| PDF · Subscribers | |
Order (Nu-Northern Stalking Horse Sales Process and APA)
| PDF · Subscribers | |
Order (RBee Sale Approval and Vesting), filed
| PDF · Subscribers | |
Procedural Order, filed
| PDF · Subscribers | |
| Receiver's Certificate - Cutbank Sale Agreement, filed | PDF · Subscribers | |
Sale of Petrowest Equipment Assets - Opportunity Summary - final
| PDF · Subscribers | |
| Application | PDF · Subscribers | |
| Draft Procedural Order | PDF · Subscribers | |
PRW Supplemental Third Receiver Report
| PDF · Subscribers | |
Order (Cutbank Sale Approval and Vesting)
| PDF · Subscribers | |
| Bench Brief of the Receiver | PDF · Subscribers | |
| Third Report of the Receiver | PDF · Subscribers | |
| Confidentiality Agreement - Peejay BC Landfill | PDF · Subscribers | |
Peejay BC Landfill - Opportunity Summary - final
| PDF · Subscribers | |
Application - filed
| PDF · Subscribers | |
Order (Peejay SSP & Protocol)
| PDF · Subscribers | |
Second Report of Receiver
| PDF · Subscribers | |
| 01. First Report of the Receiver, filed | PDF · Subscribers | |
| Application (Approval of SSP & Protocol for PeeJay Landfill - filed | PDF · Subscribers | |
| Affidavit of R. Smyth - Sworn - part 1 | PDF · Subscribers | |
| Affidavit of R. Smyth - Sworn - part 2 | PDF · Subscribers | |
| 245-246 Notice and Statement of Receiver | PDF · Subscribers | |
01. Consent Receivership Order, filed
| PDF · Subscribers | |
Receivership Order, filed
| PDF · Subscribers | |
Application for Appointment of Receiver - filed
| PDF · Subscribers | |
| Affidavit of J. Agassiz, sworn | 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., “Petrowest Corporation et al” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/petrowest-corporation-et-al