Alberta · Bankruptcy

Creditor's Package

Notice to creditors · 20 July 2022

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What we verified from this filing72 verified

financial positionnote: Form 78 recites the affairs as of '4th day of February 2022' (NOI filing date) though the deemed bankruptcy/assignment occurred 14 July 2022; deficiency reported as $3,817,783.95. · page: 2 · as at: 2022-02-04 · basis: as stated and estimated by the officer (Statement of Affairs, Form 78) · scope: entity - Vertex Downhole Ltd. (unconsolidated) · currency: CAD · total assets: 6505540.14 · total liabilities: 10323324.09
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A - Unsecured Creditors as stated and estimated by the officer · amount: 1 · debtor: Vertex Downhole Ltd. · creditor: 1160984 Alberta Ltd. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 34287.75 · debtor: Vertex Downhole Ltd. · creditor: A.R. Thompson Group · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1191.75 · debtor: Vertex Downhole Ltd. · creditor: Action Security Services Inc. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 614.25 · debtor: Vertex Downhole Ltd. · creditor: ACTivate HR · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 7010.85 · debtor: Vertex Downhole Ltd. · creditor: CyberClan (Network Test Labs Inc.) · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 29374.46 · debtor: Vertex Downhole Ltd. · creditor: AWI Machine Ltd. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 461.59 · debtor: Vertex Downhole Ltd. · creditor: B&E Electronics · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 70350 · debtor: Vertex Downhole Ltd. · creditor: BDI Canada Inc. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 2096.64 · debtor: Vertex Downhole Ltd. · creditor: Borden Ladner Gervais LLP - Calgary · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1575 · debtor: Vertex Downhole Ltd. · creditor: BTA Group Ltd. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 27404.86 · debtor: Vertex Downhole Ltd. · creditor: Burnet, Duckworth & Palmer LLP · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1575 · debtor: Vertex Downhole Ltd. · creditor: Cal-Pro Cleaning · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 30575.4 · debtor: Vertex Downhole Ltd. · creditor: Ceramic Technologies Inc. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 5985 · debtor: Vertex Downhole Ltd. · creditor: Charger Industries Canada Limited Partnership · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 828.45 · debtor: Vertex Downhole Ltd. · creditor: ChemsearchFE · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 2334.62 · debtor: Vertex Downhole Ltd. · creditor: Concur Technologies, Inc. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 3638.26 · debtor: Vertex Downhole Ltd. · creditor: Contego Software Solutions Inc. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 4054.05 · debtor: Vertex Downhole Ltd. · creditor: Corrosion Abrasion Solutions Ltd. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1 · debtor: Vertex Downhole Ltd. · creditor: CRA - Tax - Pacific · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 56430.93 · debtor: Vertex Downhole Ltd. · creditor: CTECH Consulting Group Inc. · currency: CAD
unsecured creditorspage: 3 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 46904.77 · debtor: Vertex Downhole Ltd. · creditor: Digi-Key Corporation 1781693 · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 22956.28 · debtor: Vertex Downhole Ltd. · creditor: Federal Express Canada Ltd. - Revenue Recovery Department · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 11421.14 · debtor: Vertex Downhole Ltd. · creditor: DynaQual, LLC · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 5195.7 · debtor: Vertex Downhole Ltd. · creditor: ECI Software Solutions Canada Inc. · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 22050 · debtor: Vertex Downhole Ltd. · creditor: Ernst & Young LLP · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1610 · debtor: Vertex Downhole Ltd. · creditor: Expeditors Canada Inc · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 12406.1 · debtor: Vertex Downhole Ltd. · creditor: Expert Rubber Inc. · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 323.4 · debtor: Vertex Downhole Ltd. · creditor: Field LLP - Calgary · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1 · debtor: Vertex Downhole Ltd. · creditor: Gearench · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 14247.37 · debtor: Vertex Downhole Ltd. · creditor: Gowling WLG (Canada) LLP (formerly Gowling LaFleur Henderson LLP) - Calgary Office · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 718.25 · debtor: Vertex Downhole Ltd. · creditor: Green Line Hose & Fittings · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1071.62 · debtor: Vertex Downhole Ltd. · creditor: Gregg Distributors LP · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 300 · debtor: Vertex Downhole Ltd. · creditor: Griffin Logistics Ltd. · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 8505 · debtor: Vertex Downhole Ltd. · creditor: Highside Carbide Ltd. · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 92588.93 · debtor: Vertex Downhole Ltd. · creditor: Hi-Tech Seals Inc. · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 24918.79 · debtor: Vertex Downhole Ltd. · creditor: HPC ME Equipment Trading LLC · currency: CAD
unsecured creditorsnote: This is the deficiency/balance of claim after deducting the estimated value of HSBC's security ($6,717,171.70) from the total secured claim ($8,970,163.57) - a bifurcated secured/unsecured claim. · page: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 2252991.87 · debtor: Vertex Downhole Ltd. · creditor: HSBC Bank of Canada · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 9585.72 · debtor: Vertex Downhole Ltd. · creditor: Hunting Specialty Supply · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 12790.13 · debtor: Vertex Downhole Ltd. · creditor: Innovative Manufacturing Source Inc. · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1211.7 · debtor: Vertex Downhole Ltd. · creditor: ITM Instruments Inc. · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1 · debtor: Vertex Downhole Ltd. · creditor: JAE Electronics Inc. · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 12687.43 · debtor: Vertex Downhole Ltd. · creditor: John Brooks Company Limited · currency: CAD
unsecured creditorspage: 4 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 124087.9 · debtor: Vertex Downhole Ltd. · creditor: Matrix Machining Ltd. · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 3471.82 · debtor: Vertex Downhole Ltd. · creditor: McMaster-Carr · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1 · debtor: Vertex Downhole Ltd. · creditor: Memory Express · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1 · debtor: Vertex Downhole Ltd. · creditor: Microtesla Magnetic Field Effects · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 31977.75 · debtor: Vertex Downhole Ltd. · creditor: Millennium Manufacturing Inc. · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1418.97 · debtor: Vertex Downhole Ltd. · creditor: Odyssey Trust Company · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1556.96 · debtor: Vertex Downhole Ltd. · creditor: Pinch Flatbed Inc. · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 36229.25 · debtor: Vertex Downhole Ltd. · creditor: PricewaterhouseCoopers LLP · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 92704.92 · debtor: Vertex Downhole Ltd. · creditor: Rampart Products · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 22408.34 · debtor: Vertex Downhole Ltd. · creditor: Robert Half Management Resources · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 30752.41 · debtor: Vertex Downhole Ltd. · creditor: Rohmec Industries · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 23630.78 · debtor: Vertex Downhole Ltd. · creditor: RotoPrecision Inc. · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1498.28 · debtor: Vertex Downhole Ltd. · creditor: Sinmolex Rubber Corporation · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 203486.71 · debtor: Vertex Downhole Ltd. · creditor: Spinpro Machining · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 10375.3 · debtor: Vertex Downhole Ltd. · creditor: Taskmaster Technologies Inc. · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1470 · debtor: Vertex Downhole Ltd. · creditor: Telus Communications · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 15565.21 · debtor: Vertex Downhole Ltd. · creditor: Thomas Wire Die Limited · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 35524.69 · debtor: Vertex Downhole Ltd. · creditor: TTI Inc. · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 2583.13 · debtor: Vertex Downhole Ltd. · creditor: ULine Canada Corp · currency: CAD
unsecured creditorsnote: Related party (affiliated company of the same name group). · page: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 12672.36 · debtor: Vertex Downhole Ltd. · creditor: Vertex Downhole Inc. · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 249.75 · debtor: Vertex Downhole Ltd. · creditor: Waste Management of Canada Corporation · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 1 · debtor: Vertex Downhole Ltd. · creditor: WCB Workers Compensation Board of Alberta · currency: CAD
unsecured creditorspage: 5 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 278.93 · debtor: Vertex Downhole Ltd. · creditor: West Direct Express Courier · currency: CAD
unsecured creditorspage: 6 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 2553.39 · debtor: Vertex Downhole Ltd. · creditor: Western Crating International · currency: CAD
unsecured creditorspage: 6 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 44715.75 · debtor: Vertex Downhole Ltd. · creditor: World Wide Customs Brokers Ltd · currency: CAD
unsecured creditorspage: 6 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 45642.52 · debtor: Vertex Downhole Ltd. · creditor: Xact Engineered Manufacturing Solutions · currency: CAD
unsecured creditorspage: 6 · as of: 2022-07-14 · basis: Statement of Affairs List A · amount: 2354.27 · debtor: Vertex Downhole Ltd. · creditor: Xerox Canada Ltd. · currency: CAD
secured creditorsnote: 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', item 37). · page: 7 · as of: 2022-07-14 · amount: 8970163.57 · debtor: Vertex Downhole Ltd. · creditor: HSBC Bank of Canada · currency: CAD · security: General 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.
unsecured creditorsnote: Preferred claim (BIA wage priority); c/o MNP Ltd. · page: 8 · as of: 2022-07-14 · basis: Statement of Affairs List C - Preferred Creditors for Wages, Rent, etc. · amount: 24662.94 · debtor: Vertex Downhole Ltd. · creditor: Outstanding Employee Claims · currency: CAD