Discharge of Receiver and other relief, Order for distribution, approval of Receiver's fees and disbursements, approval of receiver's activities
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- 25-2802560
- Industry
- Energy · Oilfield services
The receivership under Court of King's Bench of Alberta file 25-2802560 is closed. It began on July 13, 2022, when the court, then styled the Court of Queen's Bench of Alberta, granted a receivership order under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The relief on the record in the proceeding comprises approval of the Receiver's activities, approval of the Receiver's fees and disbursements, an order for distribution, and the discharge of the Receiver together with related relief.
Receivership order granted under BIA section 243 and provincial Judicature Act authority, commencing the Alberta proceeding under court file 25-2802560.
Source: Receivership Order
Debtor
Discharge of Receiver and other relief, Order for distribution, approval of Receiver's fees and disbursements, approval of receiver's activities
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Feasby | Court of King's Bench of Alberta | 4 orders, Dec 2023 | 39 cases on record |
| Justice Jeffrey | Court of King's Bench of Alberta | 3 orders, Jul 2022 | 51 cases on record |
| Justice Neufeld | Court of King's Bench of Alberta | 2 orders, Dec 2022 | 45 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Gowling WLG (Canada) LLP Previously Dentons Canada LLP (last seen 1 Dec 2022) | 15 Jul 2022 | Service list · 5 Jan 2024 |
| Purchaser | Borden Ladner Gervais LLP | 15 Jul 2022 | Service list · 15 Jul 2022 |
| Creditor2012145 Alberta Ltd., previously named Vertex Downhole Ltd | Burnet Duckworth & Palmer LLP | 5 Jan 2024 | Service list · 5 Jan 2024 |
| CreditorElectromate Inc | Parlee McLaws LLP | 5 Jan 2024 | Service list · 5 Jan 2024 |
| CreditorHalliburton | Norton Rose Fulbright Canada LLP | 15 Jul 2022 | Service list · 15 Jul 2022 |
| CreditorHSBC | Fasken Martineau DuMoulin LLP | 15 Jul 2022 | Service list · 15 Jul 2022 |
| CreditorVertex Downhole Ltd | Burnet Duckworth & Palmer LLP | 15 Jul 2022 | Service list · 15 Jul 2022 |
| CreditorVertex Technologies Ltd | Borden Ladner Gervais LLP | 5 Jan 2024 | Service list · 5 Jan 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | HSBC Bank Canada · in 55 casesDescribed as Vertex's senior secured lender; document only states an interim distribution amount of $5,250,000 (a distribution, not the outstanding secured claim balance), and remaining receivership funds are to be distributed to HSBC 'up to the amount of its claim' (claim amount not stated). — debtor: Vertex Downhole Ltd. | — | Application |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
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.
HSBC / RBC: a distribution.FinalFourth Report of the Receiver · 19 Jun 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredHSBC (now RBC), secured creditor | HSBC / RBC | — | interim | Finalper the receiver | Fourth Report of the Receiver · 19 Jun 2025 |
| SecuredSecured Creditor (HSBC/RBC) | HSBC Bank Canada / Royal Bank of Canada | — | interim | Finalper the receiver | Filed Fourth Report of the Receiver · 19 Jun 2025 |
| Secured | RBC | — | a distributionfinalconditional | per the receiver | Fourth Report of the Receiver · 19 Jun 2025 |
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.
2 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 plans6 engagements · 2 firms — latest: Dentons Canada LLP, to 31 May 2025, soughtFiled Fourth Report of the Receiver · 23 Jun 2025
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Dentons Canada LLPCounsel to the receiverperiod 2 of 2 | to 31 May 2025Sought | not stated | Filed Fourth Report of the Receiver · 23 Jun 2025 | ||
| Dentons Canada LLPCounsel to the receiverperiod 1 of 2 | 13 Jul – 30 Sep 2022Sought | — | not stated | Filed Second Report of the Receiver · 5 Dec 2022 | |
| MNP Ltd.Trusteeperiod 4 of 4 | 1 Dec 2022 – 31 May 2025 | — | — | not stated | Filed Affidavit of Victor Kroeger · 23 Jun 2025 |
| MNP Ltd.Receiverperiod 4 of 4 | to 31 May 2025 | not stated | Filed Fourth Report of the Receiver · 23 Jun 2025 | ||
| MNP Ltd.Trusteeperiod 2 of 4 | 1 Jul – 30 Sep 2023 | — | not stated1 person | Filed Affidavit of Victor Kroeger · 23 Jun 2025 | |
| MNP Ltd.Receiverperiod 1 of 4 | 13 Jul – 30 Nov 2022Sought | — | not stated | Filed Second Report of the Receiver · 5 Dec 2022 | |
9 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Discharge of Receiver and other relief, Order for distribution, approval of Receiver's fees and disbursements, approval of Receiver's activities
| PDF · Subscribers | |
Filed Affidavit of Victor Kroeger
| PDF · Subscribers | |
Filed Fourth Report of the Receiver
| PDF · Subscribers | |
| Draft Order for Distribution, Approval of Receiver's Fees & Disbursements, Activities, Discharge of Receiver and other relief | PDF · Subscribers | |
| Filed Application - June 2025 | PDF · Subscribers | |
Fourth Report of the Receiver
| PDF · Subscribers | |
Affidavit of Victor Kroeger
| PDF · Subscribers | |
Service List Jan 5
| PDF · Subscribers | |
| Service List to Services List Jan 5 | PDF · Subscribers | |
Filed - Amended and Restated Receivership Order
| PDF · Subscribers | |
Filed - Order re Title Change and Adjournment
| PDF · Subscribers | |
Amended and Restated Receivership Order
| PDF · Subscribers | |
| Blackline of Receivership Order | PDF · Subscribers | |
Order - Name Change Adjournment
| PDF · Subscribers | |
| Unfiled Amended Application Returnable | PDF · Subscribers | |
| Unfiled Receivers Third Report | PDF · Subscribers | |
Filed - Order for Distribution, Approval of Receiver's Fees and Disbursements, and Approval of Receiver's Activities
| PDF · Subscribers | |
Filed Application - Order for Distribution, Approval of Receiver's Fees and Disbursements, and Approval of Receiver's Activities
| PDF · Subscribers | |
Filed Second Report of the Receiver
| PDF · Subscribers | |
Application
| PDF · Subscribers | |
Second Report of the Receiver
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Filed Assignment Order
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
Letter to Service List
| PDF · Subscribers | |
Order - Sale Approval and Vesting Order
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Sealing Order
| 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., “Discharge of Receiver and other relief, Order for distribution, approval of Receiver's fees and disbursements, approval of receiver's activities” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/vertex-downhole