Alberta · Receivership (court-appointed)
01. First Report of the Receiver
Court officer report · 18 August 2011
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What we verified from this filing8 verified · 1 withheld
- unsecured creditorsnote: Teknica is guarantor of the lease · page: 7 · basis: Receiver advised by CEO and Significant Stakeholders of debt obligation regarding De Lage Lease (phone system) · amount: 4000 · debtor: SQFive Intelligent Oilfield Solutions Ltd. · creditor: De Lage Landen Financial Services Canada Inc. · currency: CAD
- unsecured creditorsnote: Related party (75% common shareholder of SQFive); claim may in part be secured over assets of 147 or SR2020, still under investigation by Receiver · page: 7 · basis: Receiver advised by CEO and Significant Stakeholders of debt obligation; potential claim relating to a guarantee dated April 25, 2008 · amount: 1500000 · debtor: SQFive Intelligent Oilfield Solutions Ltd. · creditor: Shell Technologies Venture Fund 1 B.V. · currency: CAD
- financial positionnote: Due to limited financial information available to the Receiver, no dollar figures for assets or liabilities were determinable at the time of the 245/246 Notice (mailed Feb 22, 2011) · page: 8 · basis: Receiver's Notice under Subsections 245(1) and 246(1) noted net book value of assets as $Unknown and liabilities as reported in the February 7th Li Affidavit · scope: SQFive Intelligent Oilfield Solutions Ltd. (entity level) · currency: CAD
- secured creditorsnote: Related party / significant stakeholder; part of $23,540,268 total indebtedness to Significant Stakeholders as at August 17, 2011; approx. $20.3 million total (QOGT $12.1M / QIP $8.3M) stated as at February 11, 2011 (receivership date) · page: 15 · as of: 2011-08-17 · amount: 14842813 · debtor: SQFive Intelligent Oilfield Solutions Ltd. · creditor: Quorum Oil and Gas Technology Fund Limited (QOGT) · currency: CAD · security: Secured convertible debentures; pari passu with QIP per Pari Passu Agreement (May 2008), notwithstanding registration order
- secured creditorsnote: Related party / significant stakeholder (plaintiff in this proceeding); part of $23,540,268 total indebtedness to Significant Stakeholders as at August 17, 2011; approx. $20.3 million total (QOGT $12.1M / QIP $8.3M) stated as at February 11, 2011 (receivership date) · page: 15 · as of: 2011-08-17 · amount: 8697455 · debtor: SQFive Intelligent Oilfield Solutions Ltd. · creditor: Quorum Investment Pool Limited Partnership (QIP) · currency: CAD · security: Secured convertible debentures; pari passu with QOGT per Pari Passu Agreement (May 2008), notwithstanding registration order
- process resultslois: 2 · ndas: 2 · note: figures relate to the LxData sale process; two parties executed CA's and two original LOI's were received
- sale advisorUBS
- sale outcometext: LxData Transaction Group accepted the terms of the LOI from the Purchaser; the Final LOI was approved and signed on April 2, 2011 and the purchase and sale agreement is scheduled to be signed and closed on August 24, 2011 · scope: parcel · status: pending_approval
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.