Proceedings.

SQFive Intelligent Oilfield Solutions Ltd

ActiveFollow
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
Industry
Technology, media & telecom · Software & IT services
Filings held28
Last activity9 Dec 2011
On the record5,746 days
Secured debtSubscribers
OverviewSummary updated

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.

Proceedings AIOpen Proceedings AI⁠
Ask in plain language. The answer comes only from this case’s filings, each one cited.
Enter to send · Shift+Enter for a new line
Open this case in Proceedings AI⁠Save your chats, keep long conversations going, and ask across every case.
Case updates28 dated entries
Parties

Debtor

SQFive Intelligent Oilfield Solutions Ltd

Receiver

EY

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice RomaineCourt of King's Bench of Alberta5 orders, Feb 2011 – Dec 201191 cases on record

Counsel of record

PartyCounselFirst seenSource
CreditorInternational Oil and Gas Technology LimitedGowling Lafleur Henderson LLP (now Gowling WLG (Canada) LLP)9 Dec 2011Order · 9 Dec 2011
CreditorQuorum Investment Pool Limited PartnershipOsler, Hoskin & Harcourt LLP9 Dec 2011Order · 9 Dec 2011
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredQuorum 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$14.8M01. First Report of the Receiver
4Secured
8Unsecured
8Unsecured

3 more claims in 2 classes The stack holds Secured and Unsecured claims.

Every creditor and every amount, drawn to scale.

Start 5-day trial

Card required. Nothing charged for 5 days. Cancel anytime.

Already a subscriber? Sign in.

See all plans⁠

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.

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

2

01. First Report of the Receiver

Letters of intent

2

01. First Report of the Receiver

PurchaserPriceStatusSource
referred to only as 'the Purchaser', a substantial international oilfield services companythe purchase of all of LxData's outstanding preferred and common shares (the "Shares") · share saleSubscribersProposed01. 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
DateDocumentFile
Order
  • Counsel Robert Anderson Osler Hoskin & Harcourt LLP
  • Presiding officer Justice B. Romaine
PDF · Subscribers
5. Order - IOGT
  • Presiding officer Justice B. Romaine
PDF · Subscribers
4. Order - IOGT
  • Presiding officer Justice B. Romaine
PDF · Subscribers
2. Receivership Certificate Order
  • Presiding officer Justice B. Romaine
PDF · Subscribers
3. Order - Receiver's Certificate, filedPDF · Subscribers
Settlement Agreement ApplicationPDF · Subscribers
Affidavit of Mr. David Sefton, swornPDF · Subscribers
Exhibits to David Sefton sworn affidavit - exhibits A - FPDF · Subscribers
Exhibits to David Sefton sworn affidavit - exhibits G - OPDF · Subscribers
Exhibits to David Sefton sworn affidavit - exhibits PPDF · Subscribers
Exhibits to David Sefton sworn affidavit - exhibits Q - RPDF · Subscribers
Exhibits to David Sefton sworn affidavit - exhibits S - TPDF · Subscribers
Exhibits to David Sefton sworn affidavit - exhibits U - WPDF · Subscribers
Exhibits to David Sefton sworn affidavit - exhibits X - AAPDF · Subscribers
02. Second Report of the ReceiverPDF · Subscribers
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
Application
  • Applicant Ernst & Young Inc.
  • Appointee Ernst & Young Inc.
  • Appointee role receiver
  • Commencement date 18 August 2011
  • + 3 more extracted facts
PDF · Subscribers
01. First Report of the Receiver
  • Process results 2 NDAs · 2 LOIs
  • Purchaser referred to only as 'the Purchaser', a substantial international oilfield services company · the purchase of all of LxData's outstanding preferred and common shares (the "Shares") · share sale · proposed
  • Sale advisor UBS (financial advisor)
  • Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
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
Affidavit of Mr. S.Li (Part 5), swornPDF · Subscribers
Affidavit of Mr. S.Li (Part6), swornPDF · Subscribers
Affidavit of Mr. S.Li (part 1), swornPDF · Subscribers
Affidavit of Mr. S.Li (part 2), swornPDF · Subscribers
Affidavit of Mr. S.Li (part 3), swornPDF · Subscribers
Affidavit of Mr. S.Li (part 4), swornPDF · Subscribers
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
Statement of ClaimPDF · Subscribers
Consent to Act as ReceiverPDF · 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 4 November 2026, https://proceedings.ca/case/sqfive-intelligent-oilfield-solutions-ltd

Recently updated

Giftcraft Holdings, Inc., Ripskirt Hawaii, LLC et al.

Ontario · Receivership (court-appointed)

3 Nov 2026

Transport Bruno Harvey inc.

Quebec · Bankruptcy

3 Nov 2026

Sunshine Oilsands Ltd

Alberta · Receivership (court-appointed)

3 Nov 2026

RSG Law Professional Corporation

Ontario · Receivership (court-appointed)

3 Nov 2026

Sources last checked · summary updated 24 August 2026 · Report a correction · Printed from proceedings.ca/case/sqfive-intelligent-oilfield-solutions-ltd

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.