Waterflood Production Systems Ltd.
- Proceeding
- NOIsubsection 50.4(1) of the Bankruptcy and Insolvency Act
- File
- 22-2556909
- Industry
- Energy · Oilfield services
Waterflood Production Systems Ltd., a Saskatchewan company, filed a notice of intention to make a proposal under subsection 50.4(1) of the Act on September 12, 2019, under court file no. 22-2556909, with MNP Ltd. as trustee. The proceeding remains active. The Statement of Affairs, sworn by Harvey King on October 11, 2019 and stated as at September 12, 2019, reports total assets of $1,060,900.00 against total liabilities of $12,315,634.99, a deficiency of $11,254,734.99. Unsecured claims on List A total $11,556,164.99, dominated by a single PS Electric entry of $10,707,000.00, with a further $59,481.08 listed separately for the same creditor. Secured claims on List B total $759,470.00, comprising a Canada Revenue Agency deemed trust claim of $603,470.00 against inventory and receivables and $156,000.00 owed to Davey Crocket Investments. No preferred or contingent claims are listed.
Record carries a second commencement date, September 18, 2019, for the same notice of intention filing, with no supporting detail.
Notice of intention to make a proposal filed under BIA s. 50.4, opening the Saskatchewan proceeding; the notice itself is dated September 12, 2019.
Source: Certificate of Filing of a Notice of Intention to Make a Proposal
Debtor
Waterflood Production Systems Ltd.
Proposal trustee
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | CRA - Tax - Pacific · in 77 casesBusiness Assets - Stock in Trade/Inventory ($503,470 est. value); Debts Due - Accounts Receivable ($100,000 est. value); Machinery/Equipment categories (Computer, Construction, Manufacturing, Office, Rental, Safety, Shop Equipment, Vehicles) - each $0.00 est. value — Deemed trust/CRA claim listed as secured creditor per List B; NOI filing date used as as_of per Statement of Affairs date — debtor: Waterflood Production Systems Ltd. · as of 12 Sep 2019 | $603K | Statement of Affairs |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
81 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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The 2 totals the debtor stated at filing
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See all plans| Date | Document | File |
|---|---|---|
| Cash Flow Projections | PDF · Subscribers | |
Statement of Affairs
| PDF · Subscribers | |
Certificate of Filing of a Notice of Intention to Make a Proposal
| PDF · Subscribers | |
Notice of Intention to Make a Proposal
| 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., “Waterflood Production Systems Ltd.” (NOI). Retrieved 5 November 2026, https://proceedings.ca/case/waterflood-production-systems-ltd-prp