#Order
Court pronounced an interim order on January 22, 2026, the same day the bankruptcy proceeding was commenced in Alberta.
Source: Discharge order
Vertex Downhole Ltd.
ClosedFollow
- Proceeding
- BankruptcyParagraph 50.4(8)(b.1) of the Bankruptcy and Insolvency Act
- File
- 25-2802560
- Industry
- Energy · Oilfield services
OverviewSummary updated
Vertex Downhole Ltd.'s bankruptcy under the Bankruptcy and Insolvency Act was commenced in the Court of King's Bench of Alberta on January 22, 2026, and is carried under court file number 25-2802560. The Court pronounced an interim order that same day, the only order captured on the record. The matter is now closed, and no subsequent milestones are recorded against the file.
Proceedings AIOpen Proceedings AI
Case updates6 dated entries
#Order
Certificate of Appointment was filed. Court file 25-2802560.
Source: Certificate of Appointment
Parties
Debtor
Vertex Downhole Ltd.
Trustee in bankruptcy
MNP
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | HSBC Bank of Canada · in 3 casesGeneral Security Agreement over business assets: machinery/rental assets, various receivables, inventory, cash at HSBC, intercompany debt due from Vertex Downhole Inc., prepaid expenses, pre-2020 federal tax refund, PPE/fixed assets, intangible assets, 100% shares of Vertex Downhole Inc., and debt due from HPC ME. Total estimated value of security per trustee: $6,717,171.70. — Claim is bifurcated per Statement of Affairs: estimated security value $6,717,171.70 covers a portion of the $8,970,163.57 total claim; the balance/deficiency of $2,252,991.87 is listed as an unsecured claim (List 'A', i · as of 14 Jul 2022 | $8.97M | Creditor's Package |
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
70 more claims in 2 classes The stack holds Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansRecoveriesAs stated in the filings
Unsecured creditors: no distribution.EstimatedTrustees Preliminary Report · 4 Aug 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustees Preliminary Report · 4 Aug 2022 |
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.
Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plansDocuments6 filings
| Date | Document | File |
|---|---|---|
Discharge order
| PDF · Subscribers | |
| First Meeting of Creditors Attendance List | PDF · Subscribers | |
| First Meeting of Creditors Minutes | PDF · Subscribers | |
Trustees Preliminary Report
| PDF · Subscribers | |
Certificate of Appointment
| PDF · Subscribers | |
Creditor's Package
| 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., “Vertex Downhole Ltd.” (Bankruptcy), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/vertex-downhole-bkcy