SQFive Intelligent Oilfield Solutions Ltd

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Proceeding: Receivership (court-appointed)section 243 of the Bankruptcy and Insolvency Act and sections 13(2) of the Judicature Act
Court: Court of King's Bench of Alberta
File: 1101-01717

Filings held28

Last activity9 Dec 2011

On the record5,701 days

OverviewSummary updated 24 August 2026

SQFive Intelligent Oilfield Solutions Ltd was placed in court-appointed receivership by the Court of King's Bench of Alberta on February 11, 2011, on the application of Quorum Investment Pool Limited Partnership, under section 243 of the Bankruptcy and Insolvency Act and section 13(2) of the Judicature Act. Ernst & Young Inc. was appointed receiver and manager under court file 1101-01717. Its indebtedness to significant stakeholders totalled $23,540,268 as at August 17, 2011, comprising secured convertible debentures held by Quorum Oil and Gas Technology Fund Limited at $14,842,813 and Quorum Investment Pool Limited Partnership at $8,697,455. Shell Technologies Venture Fund 1 B.V. held an unsecured claim of $1,500,000. The receivership remains active.

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Case updates28 dated entries

9 Dec 2011

#Order

Order — Order (other)

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30 Nov 2011

#Order

5. Order - IOGT — Order (other)

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9 Nov 2011

#Order

4. Order - IOGT — Order (other)

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25 earlier updates, back to 11 February 2011 — subscribers.

Parties

Debtor

SQFive Intelligent Oilfield Solutions Ltd

Receiver

Bench and counselPer the orders and service lists on the record

Bench

Judge	Court	On this docket	Cases on record
Justice Romaine	Court of King's Bench of Alberta	5 orders, Feb 2011 – Dec 2011	66 cases on record

Counsel of record

Party	Counsel	First seen	Source
CreditorInternational Oil and Gas Technology Limited	Gowling Lafleur Henderson LLP (now Gowling WLG (Canada) LLP)	9 Dec 2011	Order · 9 Dec 2011
CreditorQuorum Investment Pool Limited Partnership	Osler, Hoskin & Harcourt LLP	9 Dec 2011	Order · 9 Dec 2011

Capital structureAs asserted in the filings

Priority class	Creditor	Amount	Source
Secured	Quorum Oil and Gas Technology Fund Limited (QOGT)Secured convertible debentures; pari passu with QIP per Pari Passu Agreement (May 2008), notwithstanding registration order — Related party / significant stakeholder; part of $23,540,268 total indebtedness to Significant Stakeholders as at August 17, 2011; approx. $20.3 million total (QOGT $12.1M / QIP $8.3M) stated as at February 11, 2011 (receivership date) — debtor: SQFive Intelligent Oilfield Solutions Ltd. · as of 17 Aug 2011	$14.8M	01. First Report of the Receiver

This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.

3 more claims across lower-ranking classesSubscribe to view⁠

Sale processAs stated in the filings

Approval pending — LxData Transaction Group accepted the terms of the LOI from the Purchaser; the Final LOI was approved and signed on April 2, 2011 and the purchase and sale agreement is scheduled to be signed and closed on August 24, 201101. First Report of the Receiver · 18 Aug 2011

NDAs signed

01. First Report of the Receiver

Letters of intent

01. First Report of the Receiver

AdvisorsUBS (financial advisor)01. First Report of the Receiver

Sealed materialsMonitor's Confidential Supplemental Report1. Share Vesting and Priority Charge Order

Documents

28 filings

Date	Document	File
9 Dec 2011	Order Counsel Robert Anderson Osler Hoskin & Harcourt LLP Presiding officer Justice B. Romaine	PDF · Subscribers

30 Nov 2011	5. Order - IOGT Presiding officer Justice B. Romaine	PDF · Subscribers

9 Nov 2011	4. Order - IOGT Presiding officer Justice B. Romaine	PDF · Subscribers

7 Nov 2011	2. Receivership Certificate Order Presiding officer Justice B. Romaine	PDF · Subscribers

7 Nov 2011	3. Order - Receiver's Certificate, filed	PDF · Subscribers

3 Nov 2011	Settlement Agreement Application	PDF · Subscribers

2 Nov 2011	Affidavit of Mr. David Sefton, sworn	PDF · Subscribers

2 Nov 2011	Exhibits to David Sefton sworn affidavit - exhibits A - F	PDF · Subscribers

2 Nov 2011	Exhibits to David Sefton sworn affidavit - exhibits G - O	PDF · Subscribers

2 Nov 2011	Exhibits to David Sefton sworn affidavit - exhibits P	PDF · Subscribers

2 Nov 2011	Exhibits to David Sefton sworn affidavit - exhibits Q - R	PDF · Subscribers

2 Nov 2011	Exhibits to David Sefton sworn affidavit - exhibits S - T	PDF · Subscribers

2 Nov 2011	Exhibits to David Sefton sworn affidavit - exhibits U - W	PDF · Subscribers

2 Nov 2011	Exhibits to David Sefton sworn affidavit - exhibits X - AA	PDF · Subscribers

1 Nov 2011	02. Second Report of the Receiver	PDF · Subscribers

23 Aug 2011	1. Share Vesting and Priority Charge Order Order date 23 August 2011 Presiding officer Justice A. Kent Sealed items Monitor's Confidential Supplemental Report Stalking horse Subscribers	PDF · Subscribers

23 Aug 2011	Application Applicant Ernst & Young Inc. Appointee Ernst & Young Inc. Appointee role receiver Commencement date 18 August 2011 + 3 more extracted facts	PDF · Subscribers

18 Aug 2011	01. First Report of the Receiver Process results 2 NDAs · 2 LOIs Sale advisor UBS (financial advisor) Sale outcome Approval pending — LxData Transaction Group accepted the terms of the LOI from the Purchaser; the Final LOI was approved and signed on April 2, 2011 and the purchase and sale agreement is scheduled to be signed and closed on August 24, 2011 Financial position Subscribers + 3 more extracted facts	PDF · Subscribers

11 Feb 2011	Receivership Order Applicant Quorum Investment Pool Limited Partnership Appointee Ernst & Young Inc. Appointee role receiver and manager Commencement date 11 February 2011 + 4 more extracted facts	PDF · Subscribers

7 Feb 2011	Affidavit of Mr. S.Li (Part 5), sworn	PDF · Subscribers

7 Feb 2011	Affidavit of Mr. S.Li (Part6), sworn	PDF · Subscribers

7 Feb 2011	Affidavit of Mr. S.Li (part 1), sworn	PDF · Subscribers

7 Feb 2011	Affidavit of Mr. S.Li (part 2), sworn	PDF · Subscribers

7 Feb 2011	Affidavit of Mr. S.Li (part 3), sworn	PDF · Subscribers

7 Feb 2011	Affidavit of Mr. S.Li (part 4), sworn	PDF · Subscribers

4 Feb 2011	Application of the appointment of Receiver Applicant QUORUM INVESTMENT POOL LIMITED PARTNERSHIP Appointee Ernst & Young Inc. Appointee role interim receiver and receiver and manager Commencement date 4 February 2011 + 3 more extracted facts	PDF · Subscribers

4 Feb 2011	Statement of Claim	PDF · Subscribers

31 Jan 2011	Consent to Act as Receiver	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., “SQFive Intelligent Oilfield Solutions Ltd” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/sqfive-intelligent-oilfield-solutions-ltd