Alberta · Receivership (court-appointed)
Tenth Report of the Receiver, filed
Court officer report · 9 December 2019
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing8 verified
- cash on handnote: Table 1.0, Petrowest Civil Services LP Proposed creditor distribution, CAD $000's, unaudited; 'Cash held by the Receiver' = 958 (i.e. $958,000) · amount: 958000 · currency: CAD · qualifier: for Petrowest Civil Services LP estate only, in thousands, unaudited
- closing confirmedscope: the Fox Creek Lands · outcome: completed · effective: 2018-04-16 · purchaser: D&D Properties Ltd. · date basis: stated · approval order date: 2018-03-27
- operational summaryThe receivership is largely in wind-down mode, with asset sales closed, a bankruptcy estate (Petrowest Civil Services LP) preparing a creditor distribution, litigation ongoing against several parties, and a proposed claims procedure being sought for unsecured claims against Petrowest Corporation.
- purchaserD&D Properties Ltd.
- recovery outcomeentries: basis: unstated · quote: The Receiver is proposing to settle in full Aviva's claim against Petrowest Civil Services LP by making a distribution to Aviva in the amount of $11,715.35 (the "Aviva Distribution"), as funds are available. · pct of: unstated · outcome: paid_in_full · currency: CAD · class key: unsecured · stated by: receiver · amount low: 11715.35 · amount high: 11715.35 · class label: Aviva Insurance Company of Canada · creditor name: Aviva Insurance Company of Canada · interim final: unstated · conditional on: as funds are available · currency quote: CAD $000's, unaudited · claims qualifier: unstated; basis: actual · quote: As described in the Sixth and Seventh Reports, the secured claims of the Syndicate, Crown Capital Partners IV, LP ("Crown Capital"), and all equipment lessors to the Petrowest entities have been satisfied in full. · pct of: unstated · outcome: paid_in_full · class key: pmsi_lessor · stated by: receiver · class label: the Syndicate, Crown Capital Partners IV, LP, and all equipment lessors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Trustee expects to issue a distribution to unsecured creditors in relation to the Bankruptcy of Petrowest Civil Services LP in January 2020. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · class label: unsecured creditors of Petrowest Civil Services LP · interim final: unstated · claims qualifier: unstated · stated on: 2019-12-09 · table missing:
- report date9 December 2019
- report noTenth Report
- sale outcometext: Fox Creek Lands sale approved and closed · scope: parcel · status: closed