Alberta · Receivership (court-appointed)
Receiver's First and Final Report to the Court filed October 28, 2026
Court officer report · 28 October 2026
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 filing12 verified
- secured creditorsnote: Applicant for the receivership and RVO; purchaser (via nominee Marlin Transport Ltd.) of the shares. Funded $136,000 to the Receiver by way of Receiver's Certificate (Receiver's Borrowings Charge); also to receive the balance of ~$300,000 paid into Court after the $50,000 and $40,000 allocations. No amount owing under its security is stated. · page: 5 · debtor: Fallon Energy Inc. · creditor: 3994856 Canada Inc. ("399") · currency: CAD · security: Described as a secured creditor of Fallon; security instruments not described in these pages
- secured creditorsnote: Secured claim as asserted; total owing is not stated. It disputed the RVO distribution of the Disputed Funds and settled for $85,000 of the remaining $170,000 (paid October 2, 2026). · page: 22 · debtor: Fallon Energy Inc. · creditor: Merchant Opportunities Canada Ltd. · currency: CAD · security: Asserted secured claim over all of Fallon's present and after-acquired personal property, including future debit and credit card receivables
- unsecured creditorsnote: Deemed trust class, ranking ahead of ordinary security. $37,110.87 is part of CRA's ~$222,034 total claim, not additional to it. · page: 22 · as of: 2026-09-02 · basis: Deemed trust amount asserted in CRA's proof of claim; Receiver seeks approval to pay it from funds released from Court · amount: 37110.87 · debtor: Fallon Energy Inc. · creditor: Canada Revenue Agency - Deemed Trust Claim (GST/HST) · currency: CAD
- unsecured creditorsnote: Of this, $37,110.87 is asserted as a Deemed Trust Claim (deemed-trust class), which the Receiver proposes to pay (reduced from the $40,000 previously estimated). The remaining ~$184,923 is not characterized in these pages; it is a proof of claim asserted by CRA, not an adjudicated debt. · page: 22 · as of: 2026-09-02 · basis: Proof of claim submitted to the Receiver on September 2, 2026, following the RT0001 GST/HST examination; amount stated as "approximately $222,034" · amount: 222034 · debtor: Fallon Energy Inc. · creditor: Canada Revenue Agency (GST/HST) · currency: CAD
- unsecured creditorsnote: Municipal claim to the Disputed Funds; the underlying claim amount is not stated. Settled and paid; RM Appeals abandoned or withdrawn. The sum is of two stated settlement payments. The Rural Municipalities of Eldon No. 471 and Britannia No. 502 asserted no claim to the Disputed Funds. · page: 23 · as of: 2026-10-02 · basis: Settlement amounts distributed from the Disputed Funds ($20,072.14 + $21,317.04); not a stated claim balance · amount: 41389.18 · debtor: Fallon Energy Inc. · creditor: Rural Municipality of Manitou Lake No. 477 · currency: CAD
- unsecured creditorsnote: Municipal claims to the Disputed Funds; the underlying claim amount is not stated. Settled and paid (September 25 and October 2, 2026); RM Appeals abandoned or withdrawn. The sum is of two stated settlement payments. · page: 23 · as of: 2026-10-02 · basis: Settlement amounts distributed from the Disputed Funds ($59,927.86 + $63,682.96); not a stated claim balance · amount: 123610.82 · debtor: Fallon Energy Inc. · creditor: Rural Municipality of Wilton No. 472 · currency: CAD
- secured creditorsnote: The amount is the maximum of the charge (a ceiling), not an outstanding balance; increased from $150,000 (order of May 19, 2026) and restated by the July 2, 2026 order. Court-ordered priority charge, not a pre-filing secured debt. · page: 40 · as of: 2026-07-02 · amount: 215498.01 · debtor: Fallon Energy Inc. · creditor: Administrative Professionals (Proposal Trustee, its counsel, and counsel to the Debtor) - Administration Charge · currency: CAD · security: First-ranking court-ordered charge on all Property (including the MLT Funds), maximum $215,498.01; ranks ahead of all security interests, trusts, deemed trusts and encumbrances, subject to BIA ss. 14.06(7), 81.4(4), 81.6(2)
- secured creditorsnote: The $150,000 is a maximum under the charge, not a balance. Court-ordered priority charge, not a pre-filing debt. · page: 41 · as of: 2026-07-02 · debtor: Fallon Energy Inc. · creditor: Receiver and its counsel - Receiver's Charge · currency: CAD · security: Second-ranking court-ordered charge on the Property, maximum $150,000
- secured creditorsnote: $150,000 is a borrowing limit, not a balance. Per the report, 399 funded $136,000 under a Receiver's Certificate. Court-ordered charge, not a pre-filing debt. · page: 42 · as of: 2026-07-02 · debtor: Fallon Energy Inc. · creditor: Receiver's Borrowings Charge (holders of Receiver's Certificates) · currency: CAD · security: Third-ranking fixed and specific charge on the Property securing Receiver borrowings, maximum principal $150,000
- closing confirmedscope: the Transaction: purchase of all issued and outstanding shares of Fallon Energy Inc. · outcome: completed · effective: 2026-08-25 · purchaser: Marlin Transport Ltd., as 399's nominee · date basis: stated · approval order date: 2026-07-02
- purchaser3994856 Canada Inc.
- sale outcometext: The Transaction (purchase of all shares of Fallon by 399's nominee under the Amended Subscription Agreement, approved by the RVO of July 2, 2026) closed on August 25, 2026. · scope: whole_business · status: closed