Twin Butte Energy Ltd
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- 1601-11552
- Industry
- Energy · Oil & gas production
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.
A claims procedure has been established — see the order for deadlines.
Per the Order (Claims Procedure) dated 27 April 2017.
Application returnable December 13, 2017 and filed November 14, 2017 — Application / notice of application
Amended and Restated Order (Sale Approval and Vesting Order and Restricted Court Access) — Approval and vesting order
Order (Amending the Sale Approval and Vesting Order dated 18 Jan 2017) — Approval and vesting order
Application (Interim Distribution) returnable March 27, 2017 — Application / notice of application
Application (Termination of Certain Secure Energy Agreements) — Application / notice of application
Application (Sale Approval and Vesting Order and Restricted Court Access Order) — Approval and vesting order
Application (Approval of SISP and Restricted Court Access Order) — Sale process approval 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
Debtor
Twin Butte Energy Ltd
Receiver
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Horner | Court of King's Bench of Alberta | 5 orders, Apr 2017 – Jun 2018 | 78 cases on record |
| Justice Yamauchi | Court of King's Bench of Alberta | 3 orders, Sep 2017 – Feb 2018 | 37 cases on record |
| Justice Nixon | Court of King's Bench of Alberta | 2 orders, Mar 2017 | 53 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFTI | Norton Rose Fulbright Canada LLP | 18 Apr 2017 | Affidavit · 18 Apr 2017 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Secured 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 | $205M | Receiver's Form 245 Filing |
Unsecured creditors: a distribution. Bank Syndicate paid in full · Banking Syndicate paid in full · Debenture Holders a distribution.EstimatedApplication (Interim Distribution and Holdback) · 20 Feb 2018
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | — | — | paid in full | per the receiver | Receiver's Fourteenth Report · 13 Jun 2018 |
| Secured | Bank Syndicate | — | paid in full | per the receiver | Receiver's Fourteenth Report · 13 Jun 2018 |
| Secured | Banking Syndicate | — | paid in full | Finalper the receiver | Receiver's Thirteenth Report · 12 Feb 2018 |
| SecuredDebentures Claim (Scenario #1 - Debenture pari passu with unsecureds) | Debenture Holders | listed | conditional | Estimatedper the receiver | Receiver's Eighth Report · 6 Jun 2017 |
| Secured | National Bank of Canada, as administrative agent for the Syndicate | — | interim | Estimatedper the receiver | Amended Application · 24 Mar 2017 |
| Unsecured | unsecured creditors of Twin Butte having Proven Claims | — | interim | Estimatedper the receiver | Application (Interim Distribution and Holdback) · 20 Feb 2018 |
| UnsecuredSubordinate Debentures | Subordinate Debenture Holders | per the receiver | Receiver's Thirteenth Report · 12 Feb 2018 | ||
| Unsecured | Subordinated Unsecured Noteholders | — | final | Estimatedper the receiver | Application filed June 13, 2018 · 13 Jun 2018 |
| UnsecuredSubordinate Debentures | Twin Butte 6.25% Convertible Unsecured Subordinated Debentures due December 31, 2018 | Finalper the receiver | Receiver's Fourteenth Report · 13 Jun 2018 | ||
| class not placedAlberta Finance | Alberta Finance | — | final | Estimatedper the receiver | Application filed June 13, 2018 · 13 Jun 2018 |
| class not placedFormer Executives Claim | Former Executives | — | final | Estimatedper the receiver | Application 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.
11 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans3 engagements · 1 firm — latest: Bennett Jones LLP, to 31 Aug 2017, in feesAffidavid of Donna Kathler filed on September 11, 2017 · 11 Sep 2017
| Firm | Period | Hours | Fees | Rates | Source | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Bennett Jones LLPCounselperiod 3 of 3 | to 31 Aug 2017 | 25 people | Affidavid of Donna Kathler filed on September 11, 2017 · 11 Sep 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
25 people — Bennett Jones LLP, to 31 Aug 2017 · 78 blurred figures
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| Bennett Jones LLPCounselperiod 2 of 3 | to 31 Mar 2017 | 22 people | Affidavid of Donna Kathler filed on September 11, 2017 · 11 Sep 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
22 people — Bennett Jones LLP, to 31 Mar 2017 · 66 blurred figures
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| Bennett Jones LLPCounselperiod 1 of 3 | — | — | — | 3 people | Affidavit of Mike Maguire filed April 19, 2017 · 18 Apr 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3 people — Bennett Jones LLP · 3 blurred figures
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154 blurred figures above
What the firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plansAs at ·
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 |
|---|---|---|
| 2016 ESTMA Reporting | PDF · Subscribers | |
Order (Final Distribution, Approval of Receiver's Fees and Disbursements, Approval of Receiver's Activities and Discharge of Receiver)
| PDF · Subscribers | |
Application filed June 13, 2018
| PDF · Subscribers | |
Receiver's Fourteenth Report
| PDF · Subscribers | |
Order (Interim Distribution and Holdback and Settlement of GeoCap_Sutton Claim)
| PDF · Subscribers | |
Application (Interim Distribution and Holdback)
| PDF · Subscribers | |
Receiver's Thirteenth Report
| PDF · Subscribers | |
Supplement to the Receiver's Thirteenth Report
| PDF · Subscribers | |
| Appendix A | PDF · Subscribers | |
| Appendix B | PDF · Subscribers | |
| Appendix C | PDF · Subscribers | |
| Appendix D | PDF · Subscribers | |
| Appendix E | PDF · Subscribers | |
| Application returnable December 13, 2017 and filed November 14, 2017 | PDF · Subscribers | |
| Brief filed November 14, 2017 | PDF · Subscribers | |
| Index of Authorities | PDF · Subscribers | |
| Receiver's Eleventh Report | PDF · Subscribers | |
| Tab 1 | PDF · Subscribers | |
| Tab 2 | PDF · Subscribers | |
| Tab 3 | PDF · Subscribers | |
| Tab 4 | PDF · Subscribers | |
| Tab 5 | PDF · Subscribers | |
| Tab 6 | PDF · Subscribers | |
Order (Interim Distribution)
| PDF · Subscribers | |
Order (Distribution to Debenture Holders)
| PDF · Subscribers | |
| Revised Written Submissions of the Ad Hoc Committee of Debenture Holders | PDF · Subscribers | |
Affidavid of Donna Kathler filed on September 11, 2017
| PDF · Subscribers | |
| Affidavit of Sandy Edmonstone filed September 11, 2017 | PDF · Subscribers | |
| Application by Bennett Jones on behalf of Ad Hoc Group | PDF · Subscribers | |
| Receiver's Bench Brief re: Interest Stops Rules | PDF · Subscribers | |
Receiver's Tenth Report
| PDF · Subscribers | |
| Affidavit of William Tobman - Filed July 19, 2017 | PDF · Subscribers | |
| Application filed July 18, 2017 | PDF · Subscribers | |
Order (Ad Hoc Committee Application re: Subordination)
| PDF · Subscribers | |
| 1658_001 | PDF · Subscribers | |
| 2017 06 27 Affidavit of Joseph Brosnan - filed | PDF · Subscribers | |
| Brief of CRG Financial LLC (Filed) | PDF · Subscribers | |
| Reply Brief filed June 26, 2017 | PDF · Subscribers | |
| Authorities Tabs 8-16 | PDF · Subscribers | |
| Brief and Authorities Tabs 1-8 | PDF · Subscribers | |
| Receiver's Book of Authorities | PDF · Subscribers | |
| Receiver's Brief | PDF · Subscribers | |
| Receiver's Ninth Report | PDF · Subscribers | |
| Debenture Holder Subordination Application | PDF · Subscribers | |
| Tab#1 to written brief | PDF · Subscribers | |
| Tab#10 to written brief | PDF · Subscribers | |
| Tab#11 to written brief | PDF · Subscribers | |
| Tab#12 to written brief | PDF · Subscribers | |
| Tab#13 to written brief | PDF · Subscribers | |
| Tab#14 to written brief | PDF · Subscribers | |
| Tab#15 to written brief | PDF · Subscribers | |
| Tab#16 to written brief | PDF · Subscribers | |
| Tab#17 to written brief | PDF · Subscribers | |
| Tab#18 to written brief | PDF · Subscribers | |
| Tab#19 to written brief | PDF · Subscribers | |
| Tab#2 to written brief | PDF · Subscribers | |
| Tab#20 to written brief | PDF · Subscribers | |
| Tab#21 to written brief | PDF · Subscribers | |
| Tab#22 to written brief | PDF · Subscribers | |
| Tab#23 to written brief | PDF · Subscribers | |
| Tab#24 to written brief | PDF · Subscribers | |
| Tab#25 to written brief | PDF · Subscribers | |
| Tab#26 to written brief | PDF · Subscribers | |
| Tab#27 to written brief | PDF · Subscribers | |
| Tab#3 to written brief | PDF · Subscribers | |
| Tab#4 to written brief | PDF · Subscribers | |
| Tab#5 to written brief | PDF · Subscribers | |
| Tab#6 to written brief | PDF · Subscribers | |
| Tab#7 to written brief | PDF · Subscribers | |
| Tab#8 to written brief | PDF · Subscribers | |
| Tab#9 to written brief | PDF · Subscribers | |
| Written Brief of the Ad Hoc Committee | PDF · Subscribers | |
Receiver's Eighth Report
| PDF · Subscribers | |
| Claims Procedure | PDF · Subscribers | |
| Notice of Dispute | PDF · Subscribers | |
| Notice to Creditors | PDF · Subscribers | |
Order (Claims Procedure)
| PDF · Subscribers | |
Order (Funding Order)
| PDF · Subscribers | |
Order (Sealing Order)
| PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
| Service List | PDF · Subscribers | |
Receiver's Seventh Report
| PDF · Subscribers | |
| Ad Hoc Group Bench Brief | PDF · Subscribers | |
| Affidavit of John Chodzicki sworn April 24, 2017 | PDF · Subscribers | |
| Affidavit of Manoj Khandavelli sworn April 26, 2017 | PDF · Subscribers | |
Affidavit of Mike Maguire filed April 19, 2017
| PDF · Subscribers | |
Affidavit of Murray D'Angelo sworn April 24, 2017
| PDF · Subscribers | |
| Affidavit of Neil Arthur Jobin sworn April 24, 2017 | PDF · Subscribers | |
| Affidavit of Rob Duguid sworn April 26, 2017 | PDF · Subscribers | |
Application (Claims Procedure) returnable April 27, 2017
| PDF · Subscribers | |
| Receiver's Sixth Report | PDF · Subscribers | |
| Receiver's Certificate | PDF · Subscribers | |
Amended and Restated Order (Sale Approval and Vesting Order and Restricted Court Access)
| PDF · Subscribers | |
Order (Amending the Sale Approval and Vesting Order dated 18 Jan 2017)
| PDF · Subscribers | |
Amended Application
| PDF · Subscribers | |
Application (Interim Distribution) returnable March 27, 2017
| PDF · Subscribers | |
| Receiver's Fifth Report | PDF · Subscribers | |
| Secure Agreements Termination Order | PDF · Subscribers | |
| Application (Termination of Certain Secure Energy Agreements) | PDF · Subscribers | |
| Bench Brief (Termination and Advice and Directions) | PDF · Subscribers | |
| Receiver's Fourth Report | PDF · Subscribers | |
Sale Approval and Vesting Order
| PDF · Subscribers | |
| Application (Sale Approval and Vesting Order and Restricted Court Access Order) | PDF · Subscribers | |
Receiver's Third Report
| PDF · Subscribers | |
Order (Approval of SISP)
| PDF · Subscribers | |
| Receiver's Second Report | PDF · Subscribers | |
Application (Approval of SISP and Restricted Court Access Order)
| PDF · Subscribers | |
| Receiver's First Report | PDF · Subscribers | |
| Creditor Listing_Revised | PDF · Subscribers | |
Receiver's Form 245 Filing
| PDF · Subscribers | |
| Application to Appoint Receiver | PDF · Subscribers | |
| FTI Letter to TBE Vendors | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Affidavit of Murray D'Angelo | PDF · Subscribers | |
| Affidavit of Murray D'Angelo Exhibit A (Part 1) | PDF · Subscribers | |
| Affidavit of Murray D'Angelo Exhibit A (Part 2) | PDF · Subscribers | |
| Affidavit of Murray D'Angelo Exhibits B to F | PDF · Subscribers | |
| Affidavit of Murray D'Angelo Exhibits G to Q | 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., “Twin Butte Energy Ltd” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/twin-butte-energy-ltd