Alberta · CCAA
Tenth Report of the Monitor - 2026.09.21
Court officer report · 21 September 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 filing7 verified
- secured creditorsnote: Charge ceilings granted by court order, not outstanding balances. Currency not specified in the document for these maximums. · page: 6 · debtor: Applicants · creditor: Administration Charge, Directors' Charge, Sale Advisor Charge, KERP/KEIP Charge, CRO (Breakpoint) charge, Bid Protections charge — court-ordered priority charges · currency: CAD · security: Maximums: Administration Charge $3.0M; Directors' Charge $1.0M; Sale Advisor Charge $3.5M; KERP/KEIP up to $3,744,000; CRO Restructuring Fee charge up to $3,000,000; Bid Protections charge over sale cash proceeds in favour of a designated stalking horse bidder
- secured creditorsnote: Priority subordinated to the DIP Lenders by the Colombian DIP Recognition Order (Feb. 6, 2026); Macquarie complied with registry amendment on Feb. 16, 2026. Macquarie's tutela challenge was denied at first instance (April 8, 2026) and on appeal (Supreme Court of Justice, May 20, 2026). Amount owed not stated. · page: 16 · debtor: Colombian Debtors · creditor: Macquarie Bank Ltd. (security over certain Colombian Debtors' bank accounts; former first-priority secured creditor) · currency: USD · security: Security over certain bank accounts of the Colombian Debtors; Colombian collateral registry
- secured creditorsnote: Post-filing DIP financing, not pre-filing debt. Outstanding drawn balance is not stated. Maturity extended to November 30, 2026 by the Second AR DIP Amending Agreement; extension fees of $1.8M. Amounts in the document are reported without a currency label; the Revised Cash Flow Forecast is in USD. · page: 25 · debtor: Applicants (Canacol Group) · creditor: DIP Lenders (holders of Canacol's 5.75% senior unsecured notes due 2028; Ad Hoc Committee participants) — DIP Lenders' Charge · currency: USD · security: Court-ordered DIP Lenders' Charge (first priority, priming) over the Applicants' Property; recognized in Colombia over Colombian Debtors' assets. Maximum DIP Financing authorized $112,000,000 under the Third AR DIP Loan Agreement (a facility limit, not a stated balance); $30,000,000 of the Tranche A-2 Sub-Facility remained unadvanced as at September 15, 2026, of which $7.5M (Fifth Subsequent Advance – Part 1) was funded September 18, 2026
- unsecured creditorsnote: Principal amount of the notes as stated; accrued interest and currency are not stated in the document. DIP Lenders are holders of these notes. · page: 25 · basis: Described in the document as "$495,000,000 of 5.75% senior unsecured notes due in 2028" · amount: 495000000 · debtor: Canacol Energy Ltd. · creditor: Holders of 5.75% senior unsecured notes due 2028 · currency: USD
- process resultslois: 10 · note: ten (10) non-binding letters of intent received; number reflects LOIs received in Phase 1 · as of: 2026-03-16
- sale advisorMoelis & Company LLC
- sale outcometext: The Applicants, the CRO, the Sale Advisor and the Monitor are continuing to review the bids, in consultation with the Ad Hoc Committee, ahead of the September 30, 2026, extended deadline for identifying Phase 2 Qualified Bids and a Successful Bid(s) under the SISP. · scope: whole_business · status: pending_approval