Alberta · Receivership (court-appointed)
Fourth Report of the Receiver (November 28, 2022)
Court officer report · 28 November 2022
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 filing7 verified
- cash on handnote: Closing cash balance of the NWT Receiver; the NWT Receiver has been funded entirely by the GNWT. Separately, the Alberta Receiver holds approximately $780,000 subject to a priority dispute (not NWT Receiver cash). · as at: 2022-11-25 · amount: 58261 · currency: CAD
- disbursementsnote: Total disbursements Jan 28/20 to Nov 25/22. Reporting-period disbursements (Jun 18 - Nov 25, 2022) were $632,876. · since: January 28, 2020 (Receivership Date) · amount: 3893435 · currency: CAD
- operational summaryThe NWT Receiver continues care and custody of non-operational NWT wells and facilities in Cameron Hills while the sales process has produced only one unaccepted offer, and it is seeking court approval of an abandonment agreement with ELM Inc. (selected via an RFP) to carry out well abandonment under an OROGO abandonment order.
- professional feesnote: Exclusive of GST; fees and expenses. NWT Receiver's legal counsel (BLG) fees and expenses for the same period total $27,739 (exclusive of GST). Cash-basis R&D shows fees paid of $168,666 (receiver) and $37,164 (legal) during Jun 18 - Nov 25, 2022. · party: NWT Receiver (Alvarez & Marsal Canada Inc.) · amount: 119278 · period: June 1, 2022 to October 31, 2022 · currency: CAD
- receipts cumulativenote: Total receipts Jan 28/20 to Nov 25/22, including government funding advanced of $3,780,800, GST refunds of $101,425 and working interest receipts of $69,470. Reporting-period receipts (Jun 18 - Nov 25, 2022) were $615,861. · since: January 28, 2020 (Receivership Date) · amount: 3951696 · currency: CAD
- report date28 November 2022
- report noFourth Report