Piikani Investment Corporation
Follow- Proceeding
- Proposalsections 58(d) and 59(1) of the Bankruptcy and Insolvency Act
- File
- 25-1835132
Piikani Investment Corporation filed a Division I proposal on February 6, 2014, under sections 58(d) and 59(1) of the Bankruptcy and Insolvency Act, with Grant Thornton Limited as trustee, in the Court of King's Bench of Alberta under file no. 25-1835132. The proceeding remains active. The dominant claim is that of CIBC Trust, trustee of the Piikani Nation Trust, arising from a 2002 settlement agreement: approximately $23.039 million in total, of which $14.025 million is treated as secured by promissory notes and general security agreements covering Loans 1 through 6, with the balance valued as unsecured for voting purposes. PIC's Statement of Affairs lists $9,155,421 in unsecured claims. The proposal establishes a $200,000 Unsecured Creditors' Fund, paying claims under $5,000 in full and distributing the remainder pro rata. The Proposal Trustee's administrative fees and expenses stand as the only known preferred claim.
A court officer's report was placed on the file on the day the Division I proposal proceedings commenced; it is the only step recorded.
Exhibit 11 - Sample of Investigator's Request to Law Firms February 17, 2010 — Stakeholder communication
Erratum Notice re: Preliminary Investigator's Report of November 30, 2009 — Stakeholder communication
Exhibit 9 - Security Agreement made by the Piikani Nation for PEC June 23, 2006 — Order (other)
Undated filings10 — no date appears on the document · show
Debtor
Piikani Investment Corporation
Proposal trustee
Doane Grant Thornton
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | CIBC Trust (Trustee of the Piikani Nation Trust)as of date of the Proposal — Promissory notes and general security agreements re Loans 1-6 (assigned to Trustee); value of security set at $14.025 million for purposes of Proposal — Total Trust claim approx. $23.039 million, of which $14.025 million treated as secured and remainder ($9.014 million per report, though Statement of Affairs elsewhere lists $9,155,421 total unsecured) as unsecured; balance of Trust's claim valued as unsecured for voting purposes; related-party/trust relationship arising from 2002 settlement agreement — debtor: Piikani Investment Corporation | $14M | Creditors Package - Febrary 6, 2014 |
| 7 | Preferred (BIA s. 136) | Proposal Trustee (Grant Thornton Alger Inc.) · in 5 casesPreferred creditor for its Administrative Fees and Expenses; only known Preferred Creditor per Trustee — debtor: Piikani Investment Corporation | — | Creditors Package - Febrary 6, 2014 |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesas of date of the Proposal — Document states the Trust (largest unsecured creditor) is owed approximately $9.014 million unsecured (balance beyond the $14.025 million treated as secured); no other individual unsecured creditors are named in the pages provided; Unsecured Creditors' Fund of $200,000 to be distributed, claims under $5,000 paid in full, remainder pro-rata — debtor: Piikani Investment Corporation | $9.16M | Creditors Package - Febrary 6, 2014 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: paid in full. PIC no recovery.Under the plan · vote pendingInvestigator's Sixth Report · 13 Jun 2014
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the planvote pendingper the proposal trustee | Investigator's Sixth Report · 13 Jun 2014 |
| Secured | PIC | $500K | no recovery | Estimated | Report - Investigator's Preliminary Report to the Court · 30 Nov 2009 |
| Unsecured | Unsecured Creditors with Claims of less than $5,000 | — | paid in fullconditional | Under the planvote pendingper the proposal trustee | Investigator's Sixth Report · 13 Jun 2014 |
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.
| Date | Document | File |
|---|---|---|
| Application to Approve Proposal - September 2, 2014 | ||
Report of Trustee on Proposal - August 29, 2014
| ||
| Investigator's Seventh Report | ||
Investigator's Sixth Report
| ||
| Letter to Piikani Council - February 25, 2014 | ||
| Proposal to Creditors - February 25, 2014 | ||
Certificate of Filing - February 6, 2014
| ||
Creditors Package - Febrary 6, 2014
| ||
| Investigator's Fifth Report | ||
Order to appoint a liquidator, November 20, 2012
| ||
| Investigator's Second Report | ||
| Exhibit 11 - Sample of Investigator's Request to Law Firms February 17, 2010 | ||
| Exhibit 10 - Federal Court Action Pleadings | ||
| Court Order - December 21, 2009 | ||
| Exhibit 2 - Interim Preservation Order made December 21, 2009 | ||
| Erratum Notice re: Preliminary Investigator's Report of November 30, 2009 | ||
Report - Investigator's Preliminary Report to the Court
| ||
| Court Order - October 22, 2009 | ||
| Exhibit 1 - Order made October 22, 2009 | ||
| Exhibit 1 - Order of October 22, 2009 | ||
Court Order - October 15, 2009
| ||
| Court Order - October 9, 2009 | ||
| Exhibit 7 - Escrow Agreement | ||
| Exhibit 6 - Renegotiated Loan #2 June 2008 | ||
| Exhibit 5 - Renegotiated Loan #1 June 2008 | ||
| Exhibit 9 - Security Agreement made by the Piikani Nation for PEC June 23, 2006 | ||
| Exhibit 8 - Memorandum of Understanding February 3, 2006 | ||
| Exhibit 7 - Sample Promissory Note between the Piikani Nation and PLHC | ||
| Exhibit 2 - Trust Agreement | ||
| Exhibit 4 - Trust Agreement made between the Piikani Nation and CIBC | ||
| Exhibit 10 - Statement of Claims | ||
| Exhibit 3 - Lone Wolf Gas and Grub Loan Agreement Draft | ||
| Exhibit 3 - Sample Loan Agreement & BCR's | ||
| Exhibit 4 - Loan Restructuring #1 | ||
| Exhibit 5 - Loan Restructuring #2 | ||
| Exhibit 6 - Loan Agreement PEC | ||
| Exhibit 8 - Peace Hills Trust Agreement | ||
| Exhibit 9 - Receipts and Disbursements | ||
| Investigator's Fourth Report | ||
| Investigator's Third Report | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Piikani Investment Corporation” (Proposal), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/piikani-investment-corporation