Proceedings.

Twin Butte Energy Ltd

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Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Court
Court of King's Bench of Alberta
File
1601-11552
Filings held118
Last activity12 Dec 2019
On the record3,672 days
Secured debt$205M
OverviewSummary updated

Twin Butte Energy Ltd. was placed in court-appointed receivership on September 1, 2016 by order of the Court of Queen's Bench of Alberta under Court file 1601-11552, on the receivership provisions of section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The receiver's notice and statement recorded the secured lender's claim against the property of the debtor at approximately $205,375,000 as of the date of the order. Unaudited entity-level statements of Twin Butte as at July 31, 2016 showed book-value assets of $357,265,000, comprising accounts receivable of $19,221 thousand, deposits and prepaid expenses of $2,024 thousand, derivative assets of $4,419 thousand, property, plant and equipment of $308,993 thousand and exploration and evaluation assets of $22,608 thousand, figures the receiver did not audit, review or verify and on whose realizable value it offered no comment. The proceeding is closed.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Order (Claims Procedure) dated 27 April 2017.

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Case updates118 dated entries
#Order

Receivership order granted over Twin Butte Energy in Court file 1601-11552, with the secured lender's claim on the debtor's property then standing at approximately $205,375,000.

Source: Receivership Order

Parties

Debtor

Twin Butte Energy Ltd

Receiver

FTI

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice HornerCourt of King's Bench of Alberta3 orders, Apr 2017 – Jun 201850 cases on record
Justice HomerCourt of King's Bench of Alberta2 orders, Apr 201714 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverFTINorton Rose Fulbright Canada LLP18 Apr 2017Affidavit · 18 Apr 2017
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredSecured Lender · in 8 casesSecurity on the property of the Debtor — Stated as 'approximately' in the Receiver's Notice and Statement (Form 87); amounts stated in thousands of Canadian dollars. — debtor: Twin Butte Energy Ltd. · as of 1 Sep 2016$205MReceiver's Form 245 Filing
RecoveriesAs declared or paid

Unsecured creditors: $8.27M. Bank Syndicate paid in full · Banking Syndicate paid in full · Debenture Holders 72 %.EstimatedApplication (Interim Distribution and Holdback) · 20 Feb 2018

ClassCreditorClaimsRecoveryBasisSource
Secured——paid in fullper the receiverReceiver's Fourteenth Report · 13 Jun 2018
SecuredBank Syndicate—paid in fullper the receiverReceiver's Fourteenth Report · 13 Jun 2018
SecuredBanking Syndicate—paid in fullFinalper the receiverReceiver's Thirteenth Report · 12 Feb 2018
SecuredDebentures Claim (Scenario #1 - Debenture pari passu with unsecureds)Debenture Holders$92.7Mlisted72 %conditionalEstimatedper the receiverReceiver's Eighth Report · 6 Jun 2017
SecuredNational Bank of Canada, as administrative agent for the Syndicate—$201MinterimEstimatedper the receiverAmended Application · 24 Mar 2017
Unsecuredunsecured creditors of Twin Butte having Proven Claims—$8.27MinterimEstimatedper the receiverApplication (Interim Distribution and Holdback) · 20 Feb 2018
UnsecuredSubordinate DebenturesSubordinate Debenture Holders—66.1 %interimFinalper the receiverReceiver's Tenth Report · 7 Sep 2017
UnsecuredSubordinated Unsecured Noteholders—$1.01MfinalEstimatedper the receiverApplication filed June 13, 2018 · 13 Jun 2018
UnsecuredSubordinate DebenturesTwin Butte 6.25% Convertible Unsecured Subordinated Debentures due December 31, 2018$88.6M77.7 %Finalper the receiverReceiver's Fourteenth Report · 13 Jun 2018
class not placedAlberta FinanceAlberta Finance—$153KfinalEstimatedper the receiverApplication filed June 13, 2018 · 13 Jun 2018
class not placedFormer Executives ClaimFormer Executives—$585KfinalEstimatedper the receiverApplication filed June 13, 2018 · 13 Jun 2018

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.

Fees and ratesAs stated in the filings

3 engagements · 1 firm — latest: Bennett Jones LLP, to 31 Aug 2017, $284,744.50 in feesAffidavid of Donna Kathler filed on September 11, 2017 · 11 Sep 2017

FirmPeriodHoursFeesRatesSource
Bennett Jones LLPCounselperiod 3 of 3to 31 Aug 2017531.6$284,744.50$220 – $1,04525 peopleAffidavid of Donna Kathler filed on September 11, 2017 · 11 Sep 2017
25 people — Bennett Jones LLP, to 31 Aug 2017
NameTitleHoursRateFees
Robert StaleyPartner17$1,045$17,765.00
A. NijhawanPartner4.6$915$4,209.00
C. D. SimardPartner131.5$700$92,050.00
C. PlantePartner5.9$585$3,451.50
J. L. GiffenAssociate1.7$585$994.50
A. E. TeasdalePartner199.8$565$112,887.00
D. J. WahlAssociate0.3$370$111.00
I. LangloisAssociate108.4$345$37,398.00
M. W. SeinesAssociate20.9$345$7,210.50
D. LitsterParalegal0.6$240$144.00
S. BergaminParalegal2.7$240$648.00
A. KempAssociate0.8$220$176.00
Blair HobkirkStudent0.9$220$198.00
B. SigaletStudent2.3$220$506.00
D. D'ArcyAssociate0.7$220$154.00
D. KieferAssociate1.2$220$264.00
D. SimmonsStudent0.5$220$110.00
F. De LucaAssociate0.8$220$176.00
H. KonnertStudent7.7$220$1,694.00
J. McDanielAssociate0.6$220$132.00
L. CorkinStudent3.1$220$682.00
M. LowStudent2.5$220$550.00
R. MooreStudent3$220$660.00
S. CassellAssociate0.9$220$198.00
S. HaleStudent10$220$2,200.00
Library Legal Research—0.2$280$56.00
Bennett Jones LLPCounselperiod 2 of 3to 31 Mar 2017166.16$115,165.71$210 – $1,06522 peopleAffidavid of Donna Kathler filed on September 11, 2017 · 11 Sep 2017
22 people — Bennett Jones LLP, to 31 Mar 2017
NameTitleHoursRateFees
K. J. ZychPartner10.4$1,065$11,076.00
Robert StaleyPartner33.3$1,025$34,132.50
I. KerbelPartner0.5$950$475.00
J. KerbelPartner0.5$950$475.00
W. S. OsierPartner3.96$730$2,887.21
Will OslerPartner3.96$730$2,887.21
C. D. SimardPartner19.2$700$13,440.00
C. D. SimardPartner12.7$675$8,572.50
K. R. HamPartner4.9$645$3,160.50
K. R. HancPartner4.9$645$3,160.50
J. L. GillenAssociate24.3$575$13,972.50
J. L. GiffenAssociate24.3$575$13,972.50
Justin LambertPartner0.5$565$282.50
A. E. TeasdalePartner9.1$565$5,141.50
A. F. TeasdalePartner9.1$565$5,141.50
A. E. TeasdalePartner30.1$555$16,705.50
Justin LambertPartner3.1$555$1,720.50
M. W. SeinesAssociate6$310$1,860.00
H. MasriStudent0.7$215$150.50
D. KieferStudent0.8$215$172.00
K. NijjarAssociate6.2$215$1,333.00
L. J. FranklinParalegal0.4$210$84.00
Bennett Jones LLPCounselperiod 1 of 3———$555 – $1,0253 peopleAffidavit of Mike Maguire filed April 19, 2017 · 18 Apr 2017
3 people — Bennett Jones LLP, —
NameTitleHoursRateFees
Robert Staley——$1,025—
Will Osler——$730—
Justin Lambert——$555—

Top rate $1,045 · 94th percentile of counsel rates, 2017 · of 19

Estate financialsReported figures — never derived
Total assets at filing$357M

As at 31 Jul 2016 · per Unaudited financial statements of the Debtor as at July 31, 2016; book value; not audited, reviewed, or verified by the Receiver, which provides no comment on realizable value · Twin Butte Energy Ltd. (entity level) — Asset components: Accounts receivable $19,221; Deposits and prepaid expenses $2,024; Derivative Assets $4,419; Property, plant and equipment $308,993; Exploration and evaluation assets $22,608 (all in thousands of CAD). No liabilities figure stated on these pages.

Documents
118 filings
DateDocumentFile
2016 ESTMA ReportingPDF
Order (Final Distribution, Approval of Receiver's Fees and Disbursements, Approval of Receiver's Activities and Discharge of Receiver)
  • Counsel Norton Rose Fulbright Canada LLP
  • Presiding officer Justice K. M. Horner
PDF
Application filed June 13, 2018
  • Counsel Norton Rose Fulbright Canada LLP
  • Recovery outcome Entries: per unstated; per unstated; per unstated · Stated on: 2018-06-13 · Table missing:
PDF
Receiver's Fourteenth Report
  • Recovery outcome Entries: per unstated; per unstated; per unstated; per actual; per actual · Stated on: 2018-06-13 · Table missing:
PDF
Order (Interim Distribution and Holdback and Settlement of GeoCap_Sutton Claim)PDF
Application (Interim Distribution and Holdback)
  • Recovery outcome Entries: per unstated · Stated on: 2018-02-20 · Table missing:
PDF
Receiver's Thirteenth Report
  • Recovery outcome Entries: per unstated; per actual · Stated on: 2018-02-12 · Table missing:
PDF
Supplement to the Receiver's Thirteenth Report
  • Recovery outcome Entries: per unstated; per unstated · Stated on: 2018-02-20 · Table missing:
PDF
Appendix APDF
Appendix BPDF
Appendix CPDF
Appendix DPDF
Appendix EPDF
Application returnable December 13, 2017 and filed November 14, 2017PDF
Brief filed November 14, 2017PDF
Index of AuthoritiesPDF
Receiver's Eleventh ReportPDF
Tab 1PDF
Tab 2PDF
Tab 3PDF
Tab 4PDF
Tab 5PDF
Tab 6PDF
Order (Interim Distribution)PDF
Order (Distribution to Debenture Holders)
  • Presiding officer Justice K. D. Yamauchi
PDF
Revised Written Submissions of the Ad Hoc Committee of Debenture HoldersPDF
Affidavid of Donna Kathler filed on September 11, 2017
  • Fee schedule Engagements: Form: invoice_listing · Rows: L. J. Franklin; J. L. Giffen; K. R. Hanc; J. Kerbel; D. Kiefer; J. R. Lambert; J. R. Lambert; H. Masri; K. Nijjar; W. S. Osler; M. W. Seines; C. D. Simard; C. D. Simard; R. W. Staley; A. E. Teasdale; A. E. Teasdale; K. J. Zych · Money: Fees: $115K · Quote: Total Hours and Professional Services 166.16 $ 115,165.71 · Approximate: false · Disbursements: $-1K · Quote: Total Disbursements | $ (1,000.00) | · Period: End: 2017-03-31 · Kind: invoice · Quote: March 31, 2017 Page 16 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: Bennett Jones LLP · Firm quote: BENNETT JONES LLP · Hours total: Quote: Total Hours and Professional Services 166.16 · Value: 166.16 · Context quote: I am employed by Bennett. Jones Services Limited Partnership, a services limited partnership for Bennett Jones LIP, counsel for an /lc/ Hoc Committee; Form: invoice_listing · Rows: S. Bergamin; S. Cassell; L. Corkin; D. D'Arcy; F. De Luca; J. L. Giffen; S. Hale; B. Hobkirk; A. Kemp; D. Kiefer; H. Konnert; I. Langlois; D. Litster; M. Low; J. McDaniel; R. Moore; A. Nijhawan; C. Plante; Fees: 56 · Rate: 280 · Hours: 0.2 · Quote: Library Legal Research | Non Legal | 0.20 | 280.00 | 56.00 · Row kind: bucket · Rate kind: standard · Name as stated: Library Legal Research; M. W. Seines; B. Sigalet; C. D. Simard; D. Simmons; R. W. Staley; A. E. Teasdale; D. J. Wahl · Money: Fees: $285K · Quote: Total Hours and Professional Services | 531.60 | 284,744.50 · Approximate: false · Period: End: 2017-08-31 · Kind: invoice · Quote: August 31, 2017 Page 29 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: Bennett Jones LLP · Firm quote: BENNETT JONES LLP · Hours total: Quote: Total Hours and Professional Services | 531.60 | 284,744.50 · Value: 531.6 · Context quote: I am employed by Bennett. Jones Services Limited Partnership, a services limited partnership for Bennett Jones LIP, counsel for an /lc/ Hoc Committee
PDF
Affidavit of Sandy Edmonstone filed September 11, 2017PDF
Application by Bennett Jones on behalf of Ad Hoc GroupPDF
Receiver's Bench Brief re: Interest Stops RulesPDF
Receiver's Tenth Report
  • Recovery outcome Entries: per estimated; per estimated; per actual · Stated on: 2017-09-07 · Table missing:
PDF
Affidavit of William Tobman - Filed July 19, 2017PDF
Application filed July 18, 2017PDF
Order (Ad Hoc Committee Application re: Subordination)
  • Presiding officer Justice Jeffrey
PDF
1658_001PDF
2017 06 27 Affidavit of Joseph Brosnan - filedPDF
Brief of CRG Financial LLC (Filed)PDF
Reply Brief filed June 26, 2017PDF
Authorities Tabs 8-16PDF
Brief and Authorities Tabs 1-8PDF
Receiver's Book of AuthoritiesPDF
Receiver's BriefPDF
Receiver's Ninth ReportPDF
Debenture Holder Subordination ApplicationPDF
Tab#1 to written briefPDF
Tab#10 to written briefPDF
Tab#11 to written briefPDF
Tab#12 to written briefPDF
Tab#13 to written briefPDF
Tab#14 to written briefPDF
Tab#15 to written briefPDF
Tab#16 to written briefPDF
Tab#17 to written briefPDF
Tab#18 to written briefPDF
Tab#19 to written briefPDF
Tab#2 to written briefPDF
Tab#20 to written briefPDF
Tab#21 to written briefPDF
Tab#22 to written briefPDF
Tab#23 to written briefPDF
Tab#24 to written briefPDF
Tab#25 to written briefPDF
Tab#26 to written briefPDF
Tab#27 to written briefPDF
Tab#3 to written briefPDF
Tab#4 to written briefPDF
Tab#5 to written briefPDF
Tab#6 to written briefPDF
Tab#7 to written briefPDF
Tab#8 to written briefPDF
Tab#9 to written briefPDF
Written Brief of the Ad Hoc CommitteePDF
Receiver's Eighth Report
  • Recovery outcome Entries: per estimated; per estimated; per estimated; per estimated; per estimated · Stated on: 2017-06-06 · Table missing:
PDF
Claims ProcedurePDF
Notice of DisputePDF
Notice to CreditorsPDF
Order (Claims Procedure)
  • Presiding officer Justice K. M. Horner
PDF
Order (Funding Order)
  • Presiding officer Justice K. M. Homer
PDF
Order (Sealing Order)
  • Presiding officer Justice K. M. Homer
PDF
Proof of ClaimPDF
Service ListPDF
Receiver's Seventh Report
  • Recovery outcome Entries: per actual; per estimated · Stated on: 2017-04-24 · Table missing:
PDF
Ad Hoc Group Bench BriefPDF
Affidavit of John Chodzicki sworn April 24, 2017PDF
Affidavit of Manoj Khandavelli sworn April 26, 2017PDF
Affidavit of Mike Maguire filed April 19, 2017
  • Fee schedule Engagements: Form: time_summary · Rows: L. J. Franklin; J. L. Gillen; K. R. Ham; I. Kerbel; D. Kiefer; J. R. Lambert; J. R. Lambert; H. Masri; K. Nijjar; W. S. Osier; M. W. Seines; C. D. Simard; C. D. Simard; R. W. Staley; A. E. Teasdale; A. F. Teasdale · Money: Fees: $115K · Quote: 1 15,165.71 · Approximate: false · Period: End: 2017-03-31 · Kind: invoice · Quote: March 31, 2017 · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: Bennett Jones LLP · Firm quote: BENNETT JONES LLP · Hours total: Quote: 166.16 · Value: 166.16 · Context quote: BENNETT JONES LLP; Form: rate_chart · Rows: Robert Staley; Will Osler; Justin Lambert · Money: Approximate: false · Period: Kind: unstated · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: Bennett Jones LLP · Firm quote: BENNETT JONES LLP · Context quote: BENNETT JONES LLP
PDF
Affidavit of Murray D'Angelo sworn April 24, 2017
  • Counsel ADDRESS FOR SERVICE AND Norton Rose Fulbright Canada LLP
PDF
Affidavit of Neil Arthur Jobin sworn April 24, 2017PDF
Affidavit of Rob Duguid sworn April 26, 2017PDF
Application (Claims Procedure) returnable April 27, 2017
  • Presiding officer Justice K. M. Horner
PDF
Receiver's Sixth ReportPDF
Receiver's CertificatePDF
Amended and Restated Order (Sale Approval and Vesting Order and Restricted Court Access)PDF
Order (Amending the Sale Approval and Vesting Order dated 18 Jan 2017)PDF
Amended Application
  • Recovery outcome Entries: per unstated · Table missing:
PDF
Application (Interim Distribution) returnable March 27, 2017
  • Recovery outcome Entries: per actual · Stated on: 2017-03-27 · Table missing:
PDF
Receiver's Fifth ReportPDF
Secure Agreements Termination OrderPDF
Application (Termination of Certain Secure Energy Agreements)PDF
Bench Brief (Termination and Advice and Directions)PDF
Receiver's Fourth ReportPDF
Sale Approval and Vesting OrderPDF
Application (Sale Approval and Vesting Order and Restricted Court Access Order)PDF
Receiver's Third Report
  • Recovery outcome Entries: per estimated; per estimated · Table missing:
PDF
Order (Approval of SISP)
  • Presiding officer Justice C.M. Jones
PDF
Receiver's Second ReportPDF
Application (Approval of SISP and Restricted Court Access Order)
  • Presiding officer Justice Eidsvik
PDF
Receiver's First ReportPDF
Creditor Listing_RevisedPDF
Receiver's Form 245 Filing
  • Financial position Assets $357M · as at 31 Jul 2016 · per Unaudited financial statements of the Debtor as at July 31, 2016; book value; not audited, reviewed, or verified by the Receiver, which provides no comment on realizable value · Twin Butte Energy Ltd. (entity level) — Asset components: Accounts receivable $19,221; Deposits and prepaid expenses $2,024; Derivative Assets $4,419; Property, plant and equipment $308,993; Exploration and evaluation assets $22,608 (all in thousands of CAD). No liabilities figure stated on these pages.
  • Secured creditors $205M · Note: Stated as 'approximately' in the Receiver's Notice and Statement (Form 87); amounts stated in thousands of Canadian dollars. · Page: 3 · As of: 2016-09-01 · Debtor: Twin Butte Energy Ltd. · Creditor: Secured Lender · Security: Security on the property of the Debtor
PDF
Application to Appoint ReceiverPDF
FTI Letter to TBE VendorsPDF
Receivership Order
  • Commencement date 1 September 2016
  • Court COURT OF QUEEN'S BENCH OF ALBERTA
  • Court file no 1601-11552
  • Presiding officer Justice B.E.C. Romaine
PDF
Affidavit of Murray D'AngeloPDF
Affidavit of Murray D'Angelo Exhibit A (Part 1)PDF
Affidavit of Murray D'Angelo Exhibit A (Part 2)PDF
Affidavit of Murray D'Angelo Exhibits B to FPDF
Affidavit of Murray D'Angelo Exhibits G to QPDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Twin Butte Energy Ltd” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/twin-butte-energy-ltd

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Sources last checked · summary updated 20 August 2026 · Report a correction · Printed from proceedings.ca/case/twin-butte-energy-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.