Proceedings.

Q'Max Solutions Inc.

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Active
Proceeding
Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, and sections 13(2) of the Judicature Act and 65(7) of the Personal Property Security Act
Court
Court of King's Bench of Alberta
File
2001-06722
Filings held36
Last activity20 Mar 2024
On the record2,307 days
Secured debtSubscribers
OverviewSummary updated

Q'Max Solutions Inc. is in a court-appointed receivership brought under BIA s. 243 and the provincial Judicature Act. The record shows financial detail at the level of Fluid Holding Corp., where estimated total assets of US$80,901,927 are drawn from the company's own books and records, with a caution that the figure may not reflect net realizable value; on that basis, no unsecured creditors are reported. HSBC, as Agent, is recorded as a secured creditor of Fluid Holding Corp. owed US$151,034,072 as at May 28, 2020, per HSBC's own records and the Alberta Personal Property Registry. The proceeding is active.

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Case updates34 dated entries · 2 undated

31 earlier updates, back to 28 May 2020 — subscribers.

Undated filings2 — no date appears on the document · show

2 filings carry no date on their face — subscribers.

Parties

Debtor

Q'Max Solutions Inc.

Receiver

KPMG

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice NixonCourt of King's Bench of Alberta3 orders, Mar 202136 cases on record
Justice JohnstonCourt of King's Bench of Alberta2 orders, Mar 202432 cases on record

Counsel of record

PartyCounselFirst seenSource
CreditorAddress for Service and Contact Information of Filing This DocumentOsler, Hoskin & Harcourt LLP9 Mar 2021Application · 9 Mar 2021
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredHSBC, as AgentAmount owing based on records provided by HSBC as at May 28, 2020 and the Alberta Personal Property Registry. — debtor: Fluid Holding Corp. · as of 28 May 2020$151M USDFluid Holding Corp. Notice and Statement of the Receiver [ ] 2020-06-28
Sale processPer the transactions

6 transactions · 4 proposed · 2 closedFourth Report of the Receiver · 11 Mar 2024

Parties solicited

60

Fourth Report of the Receiver

Bids received

1

Fourth Report of the Receiver

PurchaserPriceStatusSource
BP Enermex II, S.A.P.I de C.V. and Enermex BP, S.A.P.I de C.V.the shares of Q'Max Mexico and its subsidiaries · share sale · agreement 2 Feb 2021not statedProposedSecond Report of the Receiver - Part 1
GD Auctions & Appraisalsthe Assets (inventory and equipment of QCOI) · auctionSubscribersClosed29 Oct 2020Second Report of the Receiver - Part 1
Q'DFSC Holdings, LLCall equity interests of Central Procurement Inc. ("CPI Barbados") · share sale · agreement 26 Feb 2021not statedProposedSecond Report of the Receiver - Part 1
Wael Moustafa Abdel Salam Elessawythe shares of IDEC owned by QSI (being 85% of all of the issued and outstanding shares of IDEC) · share sale · agreement 28 Feb 2021not statedProposedSecond Report of the Receiver - Part 1
T.J's Detailing Ltd.real property owned by QCOI located in Clairmont, Alberta (the 'Clairmont Property') · real property · agreement 18 Mar 2022not statedClosed23 Jun 2022Fourth Report of the Receiver
United Oil Projects Company K.S.C.C.QSI's shares of the Kuwait JV (the 'Kuwait JV Purchased Shares') · share sale · agreement 30 Jan 2024not statedProposedFourth Report of the Receiver
AdvisorsGD Auctions & Appraisals (auctioneer); Simmons Energy (financial advisor)Fourth Report of the Receiver
Closing termsVesting occurs in two stages: beneficial title upon delivery of the Pre-Closing Receiver's Certificate, legal title upon delivery of the Closing Receiver's Certificate at Closing.Approval and Vesting Order - Kuwait JV dated March 20, 2024
RecoveriesAs stated in the filings

Unsecured creditors: no distribution. Lenders short.Third Report of the Receiver · 2 May 2022

ClassCreditorClaimsRecoveryBasisSource
SecuredQ'Max Group's lenders—shortfallper the receiverApplication - Sale Approval and Vesting Order (Kuwait JV) · 20 Mar 2024
SecuredLenders—shortfallEstimatedper the receiverApplication - Sale Approval and Vesting Order (Clairmont Property) · 11 May 2022
Unsecured——no distributionper the receiverThird Report of the Receiver · 2 May 2022

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.

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

$13.6M USD

As at 2 May 2022Third Report of the Receiver

3 more reported figures, as at 2 May 2022

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Documents
36 filings
DateDocumentFile
Application - Sale Approval and Vesting Order (Kuwait JV)
  • Presiding officer Justice B. Johnston
  • Recovery outcome Entries: per unstated · Table missing:
PDF · Subscribers
Approval and Vesting Order - Kuwait JV dated March 20, 2024
  • Closing terms Vesting occurs in two stages: beneficial title upon delivery of the Pre-Closing Receiver's Certificate, legal title upon delivery of the Closing Receiver's Certificate at Closing.
  • Order date 20 March 2024
  • Stalking horse Subscribers
PDF · Subscribers
Procedural Consolidation Order dated March 20, 2024PDF · Subscribers
Restricted Court Access Order - Kuwait JV dated March 20, 2024
  • Presiding officer Justice B. Johnston
PDF · Subscribers
Fourth Report of the Receiver
  • Closing confirmed Closed · 23 Jun 2022 · T.J's Detailing Ltd.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 9 more extracted facts
PDF · Subscribers
Application - Sale Approval and Vesting Order (Clairmont Property)
  • Presiding officer Justice B.E.C. Romaine
  • Recovery outcome Entries: per estimated · Table missing:
PDF · Subscribers
Order - Approval of Distribution and Approval of Receiver’s Activities filed May 11, 2022PDF · Subscribers
Third Report of the Receiver
  • Operational summary The receivership entities have largely completed the sale or wind-down of the Q'Max Group's foreign operating subsidiaries (Mexico, Colombia, IDEC, Tri-Max), with the Clairmont Property being QCOI's only remaining asset under a pending sale, and are pursuing resolution of the Kuwait JV interest and conclusion of the Chapter 15 proceedings following settlement of the M-I Action.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Application (Sale Approval and Vesting Orders, Sealing Order, Approval of Disclaimer and Approval of Receiver's Activities)
  • Counsel Osler, Hoskin & Harcourt LLP
  • Presiding officer Justice D. B. Nixon
PDF · Subscribers
Approval and Vesting Order - IDEC dated March 9, 2021
  • Closing terms Vesting occurs upon delivery of a Receiver's Certificate to the Purchaser substantially in the form set out in Schedule 'A'
  • Order date 9 March 2021
  • Stalking horse Subscribers
PDF · Subscribers
Approval and Vesting Order - Q'Max Colombia dated March 9, 2021
  • Closing terms Receiver's certificate to be delivered upon completion of the Transaction confirming payment of Purchase Price and satisfaction/waiver of Article 3 conditions
  • Order date 9 March 2021
  • Stalking horse Subscribers
PDF · Subscribers
Approval and Vesting Order - Q'Max Mexico dated March 9, 2021
PDF · Subscribers
Order (Approval of Disclaimer and Approval of Receiver's Activities) dated March 9, 2021
  • Presiding officer Justice D. B. Nixon
PDF · Subscribers
Restricted Court Access Order dated March 9, 2021
  • Presiding officer Justice D. B. Nixon
PDF · Subscribers
Second Report of the Receiver - Part 1
  • Closing confirmed Closed · 29 Oct 2020
  • Process results 24 solicited · 18 bids · as of 31 Jul 2020
  • Purchaser BP Enermex II, S.A.P.I de C.V. and Enermex BP, S.A.P.I de C.V. · the shares of Q'Max Mexico and its subsidiaries · share sale · proposed; Q'DFSC Holdings, LLC · all equity interests of Central Procurement Inc. ("CPI Barbados") · share sale · proposed; Wael Moustafa Abdel Salam Elessawy · the shares of IDEC owned by QSI (being 85% of all of the issued and outstanding shares of IDEC) · share sale · proposed; GD Auctions & Appraisals · the Assets (inventory and equipment of QCOI) · auction · closed
  • Sale advisor GD Auctions & Appraisals (auctioneer)
  • + 1 more extracted fact
PDF · Subscribers
Application (Advice and Directions re: MAXSITE)PDF · Subscribers
Order re Lifting of Stay re Maxsite
  • Presiding officer Justice R.A. Neufeld
PDF · Subscribers
First Report of the Receiver - Part 1PDF · Subscribers
Order Granting Receiver's Emergency Verified Petition dated Oct 29, 2020
  • Presiding officer Justice Grosse
PDF · Subscribers
Chapter 15 Petition dated Sep 30, 2020PDF · Subscribers
Osler Declaration Randal Van de Mosselaer dated Sep 30, 2020PDF · Subscribers
Receiver's Declaration Anamika Gadia dated Sep 30, 2020PDF · Subscribers
Receiver's Emergency Verified Petition for Recognition of a Foreign Main Proceeding filed Sep 30, 2020
  • Recovery outcome Entries: per estimated · Table missing:
PDF · Subscribers
Receiver's Ex Parte Application for TRO filed Sep 30, 2020
  • Recovery outcome Entries: per estimated · Table missing:
PDF · Subscribers
Statement of Foreign Representative dated Sep 30, 2020PDF · Subscribers
1356760 Alberta Ltd. Notice and Statement of the Receiver [ ] 2020-06-28PDF · Subscribers
Fluid Holding Corp. Notice and Statement of the Receiver [ ] 2020-06-28
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
QMax Canada Operations Inc. Notice and Statement of the Receiver [ ] 2020-06-28PDF · Subscribers
Q’Max Solutions Holdings Inc. Notice and Statement of the Receiver [ ] 2020-06-28PDF · Subscribers
Q’Max Solutions Inc. Notice and Statement of the Receiver [ ] 2020-06-28PDF · Subscribers
Receivership Order dated May 28, 2020 [ ]
  • Applicant HSBC BANK CANADA, AS AGENT
  • Appointee KPMG Inc.
  • Appointee role receiver and manager
  • Commencement date 28 May 2020
  • + 3 more extracted facts
PDF · Subscribers
Notice of Application dated May 27, 2020 [ ]PDF · Subscribers
Affidavit of Cameron Bailey dated May 26, 2020PDF · Subscribers
Statement of Claim dated May 25, 2020
  • Applicant HSBC BANK CANADA, AS AGENT
  • Court COURT OF QUEEN'S BENCH OF ALBERTA
  • Court file no 2001-06722
PDF · Subscribers
First Report of the Receiver - Part 2
  • Recovery outcome Entries: per unstated · Table missing:
PDF · Subscribers
Second Report of the Receiver - Part 2PDF · Subscribers

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

CiteProceedings., “Q'Max Solutions Inc.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/q-max-solutions-inc

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Sources last checked · summary updated 13 August 2026 · Report a correction · Printed from proceedings.ca/case/q-max-solutions-inc

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.