Western Oilfield Equipment Rentals Ltd. is in court-appointed receivership under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, with the receivership date of November 3, 2021. HSBC Bank Canada is described as the primary secured creditor, owed approximately $195,000 CAD on a secured revolving line of credit as at the receivership date, holding a first charge security interest confirmed by Alberta Personal Property Registry searches and by a security opinion from Burnet, Duckworth & Palmer LLP finding the security valid and enforceable. The Receiver is not aware of any other claims ranking in priority to HSBC. A further $40,000 CAD advanced to the company under the Canada Emergency Business Account program is understood by the Receiver to be an unsecured claim. The proceeding remains active.
The court granted an approval and vesting order for the sale to McDougall Auctioneers Ltd. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction. Sealed: Confidential Supplement to the First Report of the Receiver.
Application Sale Approval and Vesting, Distribution and Discharge Order 10 January 2022 — Approval and vesting order
Western Oilfield Equipment Rentals Ltd. - 245 and 246 Notice - November 10, 2021 — Notice of receiver (s. 245 / Form 87)
The court appointed Ernst & Young Inc. as receiver and manager, on the application of HSBC Bank Canada. Court file 2101-13256.
Source: Consent Receivership Order
Debtor
Western Oilfield Equipment Rentals Ltd.
Receiver
EY
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | HSBC Bank Canada · in 54 casesas of Receivership Date (November 3, 2021) — First charge security interest per Alberta Personal Property Registry searches; security opinion from Burnet, Duckworth & Palmer LLP confirming valid and enforceable security — Approximately $195,000 secured revolving line of credit; described as primary secured creditor; security opinion confirmed (not merely pending); Receiver not aware of any other claims ranking in priority to HSBC — debtor: Western Oilfield Equipment Rentals Ltd. | $195K | First Report of the Receiver dated 10 January 2022 |
| 8 | Unsecured | HSBC Bank Canada (CEBA Loan) · in 54 casesas of Receivership Date (November 3, 2021) — $40,000 advanced under the Canadian Emergency Business Account program; Receiver understands this to be an unsecured claim, distinct from HSBC's secured position — debtor: Western Oilfield Equipment Rentals Ltd. | $40K | First Report of the Receiver dated 10 January 2022 |
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.
Approval pending — Receiver reviewed proposals and selected McDougall Auctioneers' outright purchase offer, entered into the Equipment Sale Agreement, subject to Court approvalFirst Report of the Receiver dated 10 January 2022 · 10 Jan 2022
| Purchaser | Price | Status | Source |
|---|---|---|---|
| McDougall Auctioneers Ltd.the Debtor's right, title and interest in and to the assets subject to the Sale Agreement (the 'Property') · auction · agreement 10 Dec 2021 | SealedA cash offer payable upon approval from this Honourable Court of the sale as outlined in the Confidential Supplement; specific purchase price is contained in the sealed Confidential Supplement. | Approved18 Jan 2022 | Court Order - 2101-13256 - Filed-2022-01-18 |
Unsecured creditors: no distribution. HSBC Bank Canada short.EstimatedFirst Report of the Receiver · 10 Jan 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredHSBC (Secured Indebtedness) | HSBC Bank Canada | — | shortfallconditional | Estimatedper the receiver | First Report of the Receiver · 10 Jan 2022 |
| Unsecured | other creditors of Western Oilfield | — | no distributionconditional | Estimatedper the receiver | First Report of the Receiver · 10 Jan 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.
| Date | Document | File |
|---|---|---|
Court Order - 2101-13256 - Filed-2022-01-18
| ||
Application Sale Approval and Vesting, Distribution and Discharge Order 10 January 2022
| ||
First Report of the Receiver dated 10 January 2022
| ||
| Western Oilfield Equipment Rentals Ltd. - 245 and 246 Notice - November 10, 2021 | ||
Consent Receivership Order
| ||
| Affidavit of C. Bailey - 29 Oct. 2021 | ||
| Application (2101-13256) - filed Oct. 29, 2021 | ||
Application with form of Consent Receivership Order
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Western Oilfield Equipment Rentals Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/western-oilfield-equipment-rentals-ltd
Sources last checked · summary updated 21 August 2026 · Report a correction · Printed from proceedings.ca/case/western-oilfield-equipment-rentals-ltd
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.