Traynor Ridge Capital Inc et al
Follow- Proceeding
- Receivership (court-appointed)section 129 of the Securities Act
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CV-23-00709030-00CL
Traynor Ridge Capital Inc. and related entities have been under court-appointed receivership in Ontario since November 3, 2023, in a proceeding brought under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The matter is before the Ontario Superior Court of Justice under court file number CV-23-00709030-00CL. An order was made in the proceeding on March 28, 2024. Claims against the estate were required to be submitted by the claims bar date of May 15, 2024. The receivership remains active.
The claims bar date has passed — claims were due by
Per the Claims Process Order dated 28 March 2024.
A claims procedure was approved, setting a claims bar date of 2024-05-15.
Source: Claims Process Order
Petition for Voluntary Liquidation of TR1 International Fund — Application / notice of application
Motion Record - Approval of Investment Advisory Services — Application / notice of application
Application Record of the Ontario Securities Commission was filed.
Source: Application Record of the Ontario Securities Commission
Debtor
Traynor Ridge Capital Inc et al
Receiver
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 2 orders, Nov 2023 | 285 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverEY | Chaitons LLP | 19 Dec 2023 | Factum · 19 Dec 2023 |
| CreditorCIBC World Markets | Torys LLP | 22 Mar 2024 | Service list · 22 Mar 2024 |
| CreditorJones Trading Canada Inc | Blake, Cassels & Graydon LLP | 22 Mar 2024 | Service list · 22 Mar 2024 |
| CreditorNational Bank | McCarthy Tétrault LLP | 22 Mar 2024 | Service list · 22 Mar 2024 |
| CreditorNational Bank Financial Inc | Borden Ladner Gervais LLP | 20 May 2026 | Factum · 20 May 2026 |
| CreditorTrillion Energy International Inc | Prelia Canada LLP | 17 Apr 2026 | Factum · 17 Apr 2026 |
| CreditorWestcourt Capital | Crawley MacKewn Brush LLP | 22 Mar 2024 | Service list · 22 Mar 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Convertible debenture holders (Units subscribed April 20, 2023) · in 2 casesDescribed in the notes as 'secured convertible debenture' (CAD$1,000 principal amount per Unit); specific collateral not identified in the excerpt — Debentures issued April 20, 2023, mature April 30, 2025, bear interest at 12% per annum; balance shown split as current $227,092 (convertible debt - accrued interest) and long-term $10,102,627 on the statement of financial position, totaling $10,329,719 per the Note 12 continuity schedule — debtor: Trillion Energy International Inc. · as of 31 Dec 2023 | $10.3M USD | Third Report of the Receiver and Manager - Part 3 of 9 |
Unsecured creditors: not yet estimated.Third Report of the Receiver and Manager - Part 1 of 9 · 27 Feb 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | creditors of Traynor Ridge or the Funds or investors in the Funds | — | not yet estimated | per the receiver | Third Report of the Receiver and Manager - Part 1 of 9 · 27 Feb 2026 |
| Equity | Unitholders in TR1 Fund and TR1-I Fund | — | no recoveryconditional | Estimatedper the receiver | Third Report of the Receiver and Manager - Part 1 of 9 · 27 Feb 2026 |
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 31 Dec 2023 · per Audited consolidated financial statements prepared under IFRS; auditor (MNP LLP) expressed an unmodified opinion but noted a material uncertainty related to going concern (negative working capital position, accumulated deficits, negative operating cash flows) · Consolidated - Trillion Energy International Inc. and its wholly owned subsidiaries (Park Place Energy Corp., Park Place Energy Bermuda, BG Exploration EOOD, Park Place Energy Turkey), including proportionate share of joint operations (SASB 49%, Cendere 19.6%)
| Date | Document | File |
|---|---|---|
Claims Determination and Distribution Order
| ||
Supplemental Factum of the Receiver
| ||
Joint Factum of the Brokers
| ||
Factum of Trillion Energy International Inc
| ||
Motion Record, returnable March 23, 2026 - Part 1 of 9
| ||
| Motion Record, returnable March 23, 2026 - Part 2 of 9 | ||
| Motion Record, returnable March 23, 2026 - Part 3 of 9 | ||
| Motion Record, returnable March 23, 2026 - Part 4 of 9 | ||
| Motion Record, returnable March 23, 2026 - Part 5 of 9 | ||
| Motion Record, returnable March 23, 2026 - Part 6 of 9 | ||
| Motion Record, returnable March 23, 2026 - Part 7 of 9 | ||
| Motion Record, returnable March 23, 2026 - Part 8 of 9 | ||
| Motion Record, returnable March 23, 2026 - Part 9 of 9 | ||
Third Report of the Receiver and Manager - Part 1 of 9
| ||
| Third Report of the Receiver and Manager - Part 2 of 9 | ||
Third Report of the Receiver and Manager - Part 3 of 9
| ||
| Third Report of the Receiver and Manager - Part 4 of 9 | ||
| Third Report of the Receiver and Manager - Part 5 of 9 | ||
| Third Report of the Receiver and Manager - Part 7 of 9 | ||
| Third Report of the Receiver and Manager - Part 8 of 9 | ||
| Third Report of the Receiver and Manager - Part 9 of 9 | ||
| Thrird Report of the Receiver and Manager - Part 6 of 9 | ||
Supervision Order - TR1 International, dated May 13, 2024
| ||
| Supervision Order - TR1 Master, dated May 13, 2024 | ||
| Notice to Creditors | ||
| Proof of Claim Form | ||
| Proof of Claim Instruction Letter | ||
Claims Process Order
| ||
Motion Record
| ||
Second Report of the Receiver and Manager
| ||
Service List
| ||
| Petition for Voluntary Liquidation of TR1 International Fund | ||
| Petition for Voluntary Liquidation of TR1 Master Fund | ||
| OSC Cease Trade Order dates February 7, 2024 | ||
Order
| ||
Factum of the Receiver
| ||
Motion Record - Approval of Investment Advisory Services
| ||
a) provide background information to the Court regarding the Property and the Respondents; b) report on the activities of the Receiver since its appointment; c) summarize the process undertaken by the Receiver to engage an investment advisor to assist the Receiver in the orderly liquidation of the securities of the Respondents; and d) provide information in support of the Receiver’s request for an Order: (i) approving an engagement agreement with ATB Capital Markets Inc. (“ATB”) to act as the Receiver’s investment advisor (“Investment Advisor”) and an order providing ATB with a limitation of liability, save and except for gross negligence or willful misconduct; (ii) authorizing the Receiver to request that Maples Corporate Services Limited, the Trustee of the voting management shares of the TR1 International Fund and TR1 Master Fund, pass a resolution to commence the winding up of the TR1 International Fund and TR1 Master Fund; and (iii) approving the activities of the Receiver as described herein
| ||
| Broker NDA | ||
| a | ||
| OSC Cease Trade Order November 14, 2023 | ||
| 245-246 Notice | ||
| OSC Cease Trade Order dated October 30, 2023 | ||
Application Record of the Ontario Securities Commission
| ||
Endorsement
| ||
| Factum of the Ontario Securities Commission | ||
Receivership Order
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Traynor Ridge Capital Inc et al” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 20 September 2026, https://proceedings.ca/case/traynor-ridge-capital-inc-et-al