Saskatchewan · Bankruptcy
Notice of Bankruptcy and First Meeting of Creditors, dated January 23, 2024
Notice to creditors · 23 January 2024
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What we verified from this filing12 verified
- courtCourt of King's Bench for Saskatchewan
- court file no22-3027497
- provinceSaskatchewan
- unsecured creditorsnote: Also appointed as inspector at the meeting; creditor in attendance and moved affirmation of Trustee's appointment. · page: 3 · as of: 2024-01-23 · basis: Amount of Proven Claim listed on Attendance List at First Meeting of Creditors · amount: 82438.12 · debtor: Kingsland Oil Corp. · creditor: Richard Toney · currency: CAD
- appointeeBDO Canada Limited
- appointee roleLicensed Insolvency Trustee
- commencement date5 January 2024
- statutory basisthe Bankruptcy and Insolvency Act
- financial positionnote: No consolidated total assets/liabilities figure stated. Individual items disclosed: cash of approximately $114,183 held (frozen) at Canadian Western Bank (page 4); oil and gas deemed asset value estimated at approximately $606,808 per License Liability Inventory Report dated December 18, 2023, against deemed abandonment/reclamation liabilities of approximately $942,819, indicating a deficiency (page 5); Saskatchewan Ministry of Energy and Resources holding a cash deposit of approximately $644,597 in respect of regulatory obligations (page 5); unsecured liabilities per SOA of approximately $101,634 (page 6). Trustee states no known registered secured creditors per PPR search and is not aware of any other secured creditors under the BIA (page 6) - reported as fact of none. · page: 6 · basis: SOA / unaudited books and records; Trustee's Report explicitly disclaims accuracy of Information · scope: entity - Kingsland Oil Corp. · currency: CAD
- unsecured creditorsnote: Trustee's Report states Company disclosed approximately $101,634 in unsecured liabilities per the SOA; document names no individual creditors; claims process not yet complete so proven claims may differ. Separately, Richard Toney's proven claim of $82,438.12 is itemised in the attendance list. · page: 6 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 101634 · debtor: Kingsland Oil Corp. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: unstated · quote: Therefore, a distribution to unsecured creditors is uncertain at this time. · pct of: unstated · outcome: undetermined · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2024-01-23 · table missing:
- secured creditors