Saskatchewan · Bankruptcy
Trustee's Report to Creditors
Court officer report · 22 May 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing11 verified
- appointeeMNP Ltd.
- appointee roleTrustee
- commencement date7 May 2025
- court file no24-3220361
- secured creditorsnote: No individual dollar amount stated for this creditor; only aggregate secured claims figures given (see aggregate entry) · page: 2 · debtor: Richelhoff Resources Inc. · creditor: Luseland Credit Union · currency: CAD · security: General Security Agreement registered at PPR March 12, 2025; security interest in specific Equipment and Machinery registered at PPR March 23, 2016 and April 22, 2016; Assignment of Crown Petroleum and Natural Gas Leases (Sept 27, 2019) and Assignment of Surface Leases (Sept 27, 2019), both registered in the Saskatchewan Land Titles Registry on December 24, 2015
- financial positionnote: Assets per SOA stated only in components, no total given: Equipment and Machinery $250,398.00 (para 6) and Other Assets/Well Site Assets $460,398.00 (para 8). Liabilities per SOA: Secured $710,796.00, Unsecured $4,754,823.81, Total $5,465,619.81 (para 34). Claims received as of May 22, 2025, 11:00 am CST differ: Secured $1,806,719.11, Unsecured $1,946,904.88, Total $3,753,623.99 (para 35). Trustee anticipates a CRA trust audit to determine total amount outstanding and deemed trust portion; amount not yet known. · page: 3 · as at: Statement of Affairs · basis: Statement of Affairs as reported by the Bankrupt · scope: Richelhoff Resources Inc. (single entity) · currency: CAD · total liabilities: 5465619.81
- secured creditorsnote: Claims actually received as of May 22, 2025, 11:00 am CST totalled $1,806,719.11 (secured), differing from the Statement of Affairs figure · page: 3 · as of: Statement of Affairs · amount: 710796 · debtor: Richelhoff Resources Inc. · creditor: Secured creditors (aggregate per Statement of Affairs) · currency: CAD · security: Aggregate secured claims per Statement of Affairs, encompassing the secured creditors described above; no per-creditor breakdown stated
- secured creditorsnote: Existence noted by Trustee; identity and amount not yet confirmed, still under investigation · page: 3 · debtor: Richelhoff Resources Inc. · creditor: Unidentified garage keeper (lien holder) · currency: CAD · security: Garage keepers lien on certain pieces of Equipment and Machinery
- secured creditorsnote: Aggregated per PMSI serialized-equipment class; no individual dollar amounts stated · page: 3 · debtor: Richelhoff Resources Inc. · creditor: PPSA equipment financiers (PMSI class) - Bodkin, a Division of Bennington Financial Corp. and Vault Credit Corporation · currency: CAD · security: Bodkin: PMSI in two 2010 Peterbilt 388s (serial nos. 1XPWD49XXAD106292, 1XPWD49X1AD106293) per lease agreement 50015649 (PPR July 28, 2021) and 50016313 (PPR Sept 13, 2021); PMSI in one 2009 Kenworth T800 per lease agreement 50017303 (PPR Nov 10, 2021). Vault Credit Corporation: PMSI in 2015 Tremcar 14899 trailer (serial 2H9AEBHG2FT002152, PPR Feb 23, 2022) and 2015 Tremcar 14376 tridem trailer (serial 2H9AEBHG4FT002055, PPR Feb 25, 2022)
- unsecured creditorsnote: Document names no individual unsecured creditors; claims actually received as of May 22, 2025, 11:00 am CST totalled $1,946,904.88 (unsecured), differing from the Statement of Affairs figure. CRA has been notified and a trust audit is anticipated to determine the deemed trust portion of any CRA indebtedness; that amount is not yet known. · page: 3 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 4754823.81 · debtor: Richelhoff Resources Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: estimated · quote: However, given the estimated deemed trust and Luseland CU's security interest, the Trustee estimates there will be no recovery to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-05-22 · table missing: