Alberta · Interim receivership
Trustee's Preliminary Report
Court officer report · 16 July 2025
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: Estimated net book value based on the estimated cash balance after settling fees and expenses related to the interim receivership. · amount: 16000 · currency: CAD · qualifier: estimated
- closing confirmedscope: all of Plains' assets associated with its Willmar and Melville, Saskatchewan operations · outcome: completed · effective: 2025-04-01 · purchaser: Fleet Energy Ltd. · date basis: stated · approval order date: 2025-02-27
- financial positionnote: Components: Cash 16,000; AR 12,862; Prairie Co-op Equity Balance 18,183; Total Assets 47,045 (CAD). Total liabilities not stated; Section E lists proven claims (secured and unsecured) totalling 4,603,562.25 but this is a claims listing, not a stated liabilities total. · as at: 2025-06-27 · basis: estimated net book value, based on estimated cash balance after settling interim receivership fees and expenses, assuming all receivables outstanding as at June 27, 2025 are collected · scope: entity - Plains Environmental Inc. · currency: CAD · total assets: 47045
- operational summaryPlains sold its Willmar and Melville operations to Fleet Energy Ltd. and, following the interim receiver's distribution of sale proceeds, retains only limited residual assets (cash, receivables, and an equity balance); it is now bankrupt with no receiver appointed and no funds expected for unsecured creditors.
- purchaserFleet Energy Ltd.
- report noTrustee's Preliminary Report
- sale outcometext: approving a sale of all of Plains' assets associated with its Willmar and Melville, Saskatchewan operations to Fleet Energy Ltd. (the ' Sale '). The Sale closed on April 1, 2025. · scope: whole_business · status: closed