Viceroy Canadian Resources Corp.
Follow- Proceeding
- Receivership (court-appointed)section 13(2) of the Judicature Act, RSA 2000, c.J-2 and 65(7) of the Personal Property Security Act, RSA 2000, c.P-7
- File
- 2401-13217
- Industry
- Energy · Oil & gas production
Viceroy Canadian Resources Corp., a 5% working interest holder in the McKay SAGD Project, has been under court-appointed receivership since October 22, 2024, when the Court of King's Bench of Alberta appointed Alvarez & Marsal Canada Inc. as Receiver on the application of Greenfire Resources Operating Corporation under section 13(2) of the Judicature Act and section 65(7) of the Personal Property Security Act (file 2401-13217). Greenfire's claim rests on an operator's lien over the working interest registered in the Alberta Personal Property Registry on May 23, 2024, standing at $432,850.99 as of March 15, 2025 and growing by roughly $5,000 to $10,000 monthly. The Receiver has drawn $200,000 of $500,000 authorized under Receiver's Certificates as of March 31, 2025, and anticipates no funds available for distribution to creditors after priority payables and professional fees.
Order Approving Sale Process, Stalking Horse Term Sheet, and Other Relief — Sale process approval order
Order pronounced appointing Alvarez & Marsal Canada Inc. as Receiver of Viceroy on Greenfire's application, with paragraph 21 authorizing borrowing of up to $500,000 against Receiver's Certificates.
Source: Receivership Order
Debtor
Viceroy Canadian Resources Corp.
Receiver
Alvarez & Marsal
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Johnston | Court of King's Bench of Alberta | 4 orders, Oct 2024 – Apr 2025 | 54 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlvarez & Marsal | Cassels Brock & Blackwell LLP | 31 Mar 2025 | Service list · 31 Mar 2025 |
| PurchaserGreenfire Resources Operating Corporation and the proposed Stalking Horse | Osler, Hoskin & Harcourt LLP | 31 Mar 2025 | Service list · 31 Mar 2025 |
| CreditorBurgess Energy Holdings LLC & Burgess Canadian Resources ULC | Torys LLP | 31 Mar 2025 | Service list · 31 Mar 2025 |
| CreditorSouthern Pacific Resource Corp | McCarthy Tétrault LLP | 31 Mar 2025 | Service list · 31 Mar 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Greenfire Resources Operating CorporationOperator's Lien under s. 5.05(A) of the 2007 CAPL Operating Procedures (incorporated in the Farm-In Agreement) over Viceroy's 5% working interest in the McKay SAGD Project and Plant; registered in the Alberta Personal Property Registry on May 23, 2024 — Amount is the 'Outstanding Amounts' (Viceroy's unpaid share of Joint Account costs) per Greenfire's statement of accounts. The originating application (Sept 24, 2024) claimed at least $794,075.06, later reduced after a joint venture audit found historical amounts overstated; no opposition to the lesser amount known. The balance is expected to g · as of 15 Mar 2025 | $433K | Second Report of the Receiver |
| Secured |
1 more claim in 1 class The stack holds Secured claims.
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See all plansThis 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.
Closed · the record states no distribution outcome.
| Date | Document | File |
|---|---|---|
| Receiver’s Certificate | PDF · Subscribers | |
Discharge Order (Cassels)
| PDF · Subscribers | |
| Receiver’s Application | PDF · Subscribers | |
Sale and Approval Order re Burgess (Cassels)
| PDF · Subscribers | |
Sale and Approval Order re Greenfire (Cassels)
| PDF · Subscribers | |
Service List, as at March 31, 2025
| PDF · Subscribers | |
Order Approving Sale Process, Stalking Horse Term Sheet, and Other Relief
| PDF · Subscribers | |
| Application (Sale Process & Stalking Horse Term Sheet) | PDF · Subscribers | |
| First Report of the Receiver | PDF · Subscribers | |
| Notice of Receivership | PDF · Subscribers | |
| Originating Application | PDF · Subscribers | |
| Receiver's Certificate | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Affidavit of Robert Logan Sworn & Affirmed on October 4, 2024 | PDF · Subscribers | |
| Affidavit of Robert Logan Sworn & Affirmed on September 6, 2024 | PDF · Subscribers | |
| Bench Brief of the Applicant | PDF · Subscribers | |
Second Report of the Receiver
| 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., “Viceroy Canadian Resources Corp.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 2 November 2026, https://proceedings.ca/case/viceroy-canadian-resources-corp