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.
The court granted an approval and vesting order. Closing terms, as extracted: 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.
Source: Approval and Vesting Order - Kuwait JV dated March 20, 2024
Application - Sale Approval and Vesting Order (Kuwait JV) — Application / notice of application
The officer filed report no. Fourth Report. The receivership is winding down remaining foreign subsidiary matters (Kuwait JV sale, Mexico/Colombia earn-outs, Brazil litigation) and seeking to consolidate the Canadian receivership estates into a single estate; the Clairmont property sale has already closed with no remaining matters for QCOI.
Source: Fourth Report of the Receiver
Application - Sale Approval and Vesting Order (Clairmont Property) — Application / notice of application
The officer filed report no. Third Report. 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.
Source: Third Report of the Receiver
The court granted an approval and vesting order. Closing terms, as extracted: Vesting occurs upon delivery of a Receiver's Certificate to the Purchaser substantially in the form set out in Schedule 'A'.
Source: Approval and Vesting Order - IDEC dated March 9, 2021
The court granted an approval and vesting order. Closing terms, as extracted: Receiver's certificate to be delivered upon completion of the Transaction confirming payment of Purchase Price and satisfaction/waiver of Article 3 conditions.
Source: Approval and Vesting Order - Q'Max Colombia dated March 9, 2021
The court granted an approval and vesting order.
Source: Approval and Vesting Order - Q'Max Mexico dated March 9, 2021
Application (Sale Approval and Vesting Orders, Sealing Order, Approval of Disclaimer and Approval of Receiver's Activities) — Application / notice of application
The officer filed report no. Second Report. QCOI's operations were wound down and its inventory/equipment liquidated through an auction process, while the Receiver is pursuing sale transactions for Q'Max Mexico, Q'Max Colombia and IDEC and disclaiming the worthless QMax Brazil shares.
The officer filed report no. First Report. The Receiver has undertaken a liquidation process for the Canadian operating entity (QCOI), while pursuing going-concern share sales of QSI's foreign subsidiaries; these sale processes are impeded by ongoing MAXSITE-related litigation with M-I.
Order Granting Receiver's Emergency Verified Petition dated Oct 29, 2020 — Application / notice of application
Receiver's Emergency Verified Petition for Recognition of a Foreign Main Proceeding filed Sep 30, 2020 — Application / notice of application
Receiver's Ex Parte Application for TRO filed Sep 30, 2020 — Application / notice of application
1356760 Alberta Ltd. Notice and Statement of the Receiver [ ] 2020-06-28 — Notice to creditors
Fluid Holding Corp. Notice and Statement of the Receiver [ ] 2020-06-28 — Notice to creditors
QMax Canada Operations Inc. Notice and Statement of the Receiver [ ] 2020-06-28 — Notice to creditors
Q’Max Solutions Holdings Inc. Notice and Statement of the Receiver [ ] 2020-06-28 — Notice to creditors
Q’Max Solutions Inc. Notice and Statement of the Receiver [ ] 2020-06-28 — Notice to creditors
Debtor
Q'Max Solutions Inc.
Receiver
KPMG
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Johnston | Court of King's Bench of Alberta | 3 orders, Mar 2024 | 55 cases on record |
| Justice Nixon | Court of King's Bench of Alberta | 3 orders, Mar 2021 | 53 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverKPMG | Osler, Hoskin & Harcourt LLP | 9 Mar 2021 | Application · 9 Mar 2021 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | HSBC, 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 USD | Fluid Holding Corp. Notice and Statement of the Receiver [ ] 2020-06-28 |
6 transactions · 4 approved · 2 closedFourth Report of the Receiver · 11 Mar 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| GD Auctions & Appraisalsthe Assets (inventory and equipment of QCOI) · auction | Subscribers | Closed29 Oct 2020 | Second Report of the Receiver - Part 1 |
| BP Enermex II, S.A.P.I. de C.V. and Enermex BP, S.A.P.I. de C.V.all of QSHI's and 1356760's right, title, and interest in and to the shares (the 'Purchased Shares') of Q'Max Mexico, S.A de C.V. ('Q'Max Mexico'), QMax Servicios Administrativos, S.A. de C.V., QMax Servicios Técnicos, S.A. de C.V. and QMax Servicios de Ingeniería, S.A. de C.V. · share sale · nominee/assignee: its nominee · agreement 2 Feb 2021 | not stated | Approved9 Mar 2021 | Approval and Vesting Order - Q'Max Mexico dated… |
| Q'DFSC Holdings, LLCall of QSI's right, title, and interest in and to all equity interests of Central Procurement Inc. ('CPI Barbados') · share sale · nominee/assignee: its nominee · agreement 26 Feb 2021 | not stated | Approved9 Mar 2021 | Approval and Vesting Order - Q'Max Colombia… |
| Wael Moustafa Abdel Salam Elessawyall of QSI's right, title, and interest in and to the shares (the 'Purchased Shares') of IDEC · share sale · agreement 28 Feb 2021 | not stated | Approved9 Mar 2021 | Approval and Vesting Order - IDEC dated March… |
| T.J's Detailing Ltd.real property owned by QCOI located in Clairmont, Alberta (the 'Clairmont Property') · real property · agreement 18 Mar 2022 | not stated | Closed23 Jun 2022 | Fourth Report of the Receiver |
| United Oil Projects Company K.S.C.C.all of QSI's right, title, and interest in and to the shares (the 'Purchased Shares') of United Qmax Drilling Fluids Company Co. · share sale · nominee/assignee: its nominee · agreement 30 Jan 2024 | Sealed | Approved20 Mar 2024 | Approval and Vesting Order - Kuwait JV dated… |
Unsecured creditors: no distribution. Lenders short.Third Report of the Receiver · 2 May 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Q'Max Group's lenders | — | shortfall | per the receiver | Application - Sale Approval and Vesting Order (Kuwait JV) · 20 Mar 2024 |
| Secured | Lenders | — | shortfall | Estimatedper the receiver | Application - Sale Approval and Vesting Order (Clairmont Property) · 11 May 2022 |
| Unsecured | — | — | no distribution | per the receiver | Third 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.
As at ·
Cumulative receipts
$13.6M USD
As at 2 May 2022Third Report of the Receiver
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the total 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 |
|---|---|---|
Application - Sale Approval and Vesting Order (Kuwait JV)
| PDF · Subscribers | |
Approval and Vesting Order - Kuwait JV dated March 20, 2024
| PDF · Subscribers | |
Procedural Consolidation Order dated March 20, 2024
| PDF · Subscribers | |
Restricted Court Access Order - Kuwait JV dated March 20, 2024
| PDF · Subscribers | |
Fourth Report of the Receiver
| PDF · Subscribers | |
Application - Sale Approval and Vesting Order (Clairmont Property)
| PDF · Subscribers | |
Order - Approval of Distribution and Approval of Receiver’s Activities filed May 11, 2022
| PDF · Subscribers | |
Third Report of the Receiver
| PDF · Subscribers | |
Application (Sale Approval and Vesting Orders, Sealing Order, Approval of Disclaimer and Approval of Receiver's Activities)
| PDF · Subscribers | |
Approval and Vesting Order - IDEC dated March 9, 2021
| PDF · Subscribers | |
Approval and Vesting Order - Q'Max Colombia dated March 9, 2021
| 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
| PDF · Subscribers | |
Restricted Court Access Order dated March 9, 2021
| PDF · Subscribers | |
Second Report of the Receiver - Part 1
| PDF · Subscribers | |
| Application (Advice and Directions re: MAXSITE) | PDF · Subscribers | |
Order re Lifting of Stay re Maxsite
| PDF · Subscribers | |
First Report of the Receiver - Part 1
| PDF · Subscribers | |
Order Granting Receiver's Emergency Verified Petition dated Oct 29, 2020
| PDF · Subscribers | |
| Chapter 15 Petition dated Sep 30, 2020 | PDF · Subscribers | |
| Osler Declaration Randal Van de Mosselaer dated Sep 30, 2020 | PDF · Subscribers | |
| Receiver's Declaration Anamika Gadia dated Sep 30, 2020 | PDF · Subscribers | |
Receiver's Emergency Verified Petition for Recognition of a Foreign Main Proceeding filed Sep 30, 2020
| PDF · Subscribers | |
Receiver's Ex Parte Application for TRO filed Sep 30, 2020
| PDF · Subscribers | |
| Statement of Foreign Representative dated Sep 30, 2020 | PDF · Subscribers | |
1356760 Alberta Ltd. Notice and Statement of the Receiver [ ] 2020-06-28
| PDF · Subscribers | |
Fluid Holding Corp. Notice and Statement of the Receiver [ ] 2020-06-28
| PDF · Subscribers | |
QMax Canada Operations Inc. Notice and Statement of the Receiver [ ] 2020-06-28
| PDF · Subscribers | |
Q’Max Solutions Holdings Inc. Notice and Statement of the Receiver [ ] 2020-06-28
| PDF · Subscribers | |
Q’Max Solutions Inc. Notice and Statement of the Receiver [ ] 2020-06-28
| PDF · Subscribers | |
Receivership Order dated May 28, 2020 [ ]
| PDF · Subscribers | |
| Notice of Application dated May 27, 2020 [ ] | PDF · Subscribers | |
| Affidavit of Cameron Bailey dated May 26, 2020 | PDF · Subscribers | |
Statement of Claim dated May 25, 2020
| PDF · Subscribers | |
First Report of the Receiver - Part 2
| PDF · Subscribers | |
| Second Report of the Receiver - Part 2 | 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., “Q'Max Solutions Inc.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/q-max-solutions-inc
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.