Alberta · Receivership (court-appointed)
Application
Application / notice of application · 1 December 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 filing2 verified
- secured creditorsnote: Described as Vertex's senior secured lender; document only states an interim distribution amount of $5,250,000 (a distribution, not the outstanding secured claim balance), and remaining receivership funds are to be distributed to HSBC 'up to the amount of its claim' (claim amount not stated). · page: 2 · debtor: Vertex Downhole Ltd. · creditor: HSBC Bank Canada · currency: CAD
- recovery outcomeentries: basis: unstated · quote: approving the proposed interim distribution to HSBC Bank Canada (' HSBC ') in the amount of $5,250,000; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 5250000 · cumulative: false · amount high: 5250000 · class label: HSBC Bank Canada · creditor name: HSBC Bank Canada · interim final: interim · claims qualifier: unstated · stated on: 2022-12-01 · table missing: