CALGARY OIL & GAS INTERCONTINENTAL GROUP LTD., T5 SC OIL AND GAS LIMITED PARTNERSHIP, CALGARY OIL AND SYNDICATE PARTNERS LTD. AND PETROWORLD ENERGY LTD. (collectively referred to as the “COMPANIES”)
On February 11, 2021, an Order (the “CCAA Initial Order”) was granted by the Honourable Mr. Justice D.B. Nixon of the Court of Queen's Bench of Alberta (the “Court”) pursuant to the Companies' Creditors Arrangement Act granting the Companies various relief including, but not limited to, the imposition of an initial stay of proceedings (the “Stay”) against the Companies and their assets. The Court appointed BDO Canada Limited as the monitor of the Companies (the “Monitor”). The Stay was subsequently extended by the Court on various occasions to allow the Companies to carry out its Plan of Compromise or Arrangement (the “Plan”).
Plan of Arrangement
The Companies' Plan, as prepared and filed in these proceedings, was approved by the Affected Creditors and was sanctioned by the Court, and the Spartan Transaction as contemplated in the Plan closed on September 3, 2021. A copy of the Plan and Certificate of the Monitor (re: Plan Implementation) are provided below:
Distributions to Creditors
The Monitor issued distributions to the creditors of the Companies in accordance with the Plan. Cheques payable to the Affected Creditors were mailed on October 28, 2021. A summary distribution schedule outlining the creditor claims and related distribution amounts issued to each creditor is provided below:
Conclusion of Proceedings
On October 28, 2021, the Monitor prepared and filed the Monitor's Certificate re: CCAA termination, confirming the conclusion of the CCAA proceedings and the discharge of the Monitor, a copy which is provided below:
Court Filings
- Originating Application re: CCAA Initial Order
- Affidavit of Ryan Martin - February 5, 2021
- Bench Brief re: CCAA Initial Order
- Application re: Appointment of Receiver
- Affidavit of Adam Jenkins - February 9, 2021
- Supplemental Affidavit of Adam Jenkins - February 9, 2021
- Bench Brief re: Opposition to CCAA Initial Order and Appointment of Receiver
- Supplemental Affidavit of Ryan Martin - February 10, 2021
- Second Supplemental Affidavit of Ryan Martin - February 11, 2021
- Bench Brief re: Response to Application to Appoint Receiver
- Affidavit of Ryan Martin – February 17, 2021
- Application re: Amended and Restated Initial Order and Sealing Order
- Affidavit of Ryan Martin – February 22, 2021
- Application re: Second Amended and Restated Initial Order
- Affidavit of Adam Jenkins – February 25, 2021
- Application re: Strategic Alternative Process
- Supplemental Affidavit of Ryan Martin – February 26, 2021
- Affidavit of Ryan Martin – April 6, 2021
- Application re: Stay Extension, Payment of Pre-Filing Amount and Claims Procedure
- Bench Brief re: Stay Extension, Payment of Pre-Filing Amount and Claims Procedure
- Affidavit of Maninder (Moe) Mangat – April 8, 2021
- Application of Westbrick Energy Ltd. re: Creditors' Meeting Order
- Brief of Law of Westbrick Energy Ltd. re: Creditors' Meeting Order
- Affidavit of Service of Jamie Welsh – April 9, 2021
- Supplemental Affidavit of Ryan Martin – April 12, 2021
- Supplemental Affidavit of Maninder (Moe) Mangat – April 12, 2021
- Second Supplemental Affidavit of Ryan Martin – April 13, 2021
- Affidavit of Service of Jamie Welsh – April 13, 2021
- Affidavit of Ryan Martin – May 17, 2021
- Application re: Creditors' Meeting Order, Late Filed Claims Order and Stay Extension Order
- Bench Brief re: Creditors' Meeting Order, Late Filed Claims Order and Stay Extension Order
- Affidavit of Ryan Martin – May 19, 2021
- Application re: Disclaimer Notice Effective Date Order and Peters Declaration
- Supplemental Brief re: Contract Termination and Disclaimer
- Affidavit of Ryan Martin – July 19, 2021
- Brief of Argument re Plan Sanction and Stay Extension Order
- Application re Plan Sanction and Stay Extension Order
- Application re Sale Approval and Stay Extension Order
- Affidavit of Ryan Martin – September 13, 2021
- Brief re Sale Approval and Stay Extension Order
- Application of Monitor re Discharge and Professional Fees
Court Orders
- CCAA Initial Order – February 11, 2021
- Amended and Restated Initial Order – February 19, 2021
- Sealing Order – February 19, 2021
- Second Amended and Restated Initial Order – March 4, 2021
- Sealing Order – March 4, 2021
- Claims Procedure Order – April 13, 2021
- Order re: Stay Extension and Payment of Pre-Filing Amount – April 13, 2021
- Sealing Order re: Third Report of the Monitor – April 13, 2021
- Sealing Order re: Ryan Martin Affidavits – April 13, 2021
- Restricted Court Access Order re: Supplemental Mangat Affidavit – April 13, 2021
- Order re: Compelling Responses to Undertakings – April 13, 2021
- Order re: Disclaimer Extension and Peters Declaration – May 25, 2021
- Order re Stay Extension and Late Filed Claims – May 25, 2021
- Sealing Order – May 25, 2021
- Creditors' Meeting Order – May 25, 2021
- Plan Sanction Order – July 26, 2021
- Sale Approval and Vesting Order – September 24, 2021
- Stay Extension and Termination of CCAA Proceedings Order – September 24, 2021
- Order re Discharge of Monitor and Approval of Fees
Monitor's Reports and Correspondence
- Pre Filing Report of the Proposed Monitor – February 8, 2021
- Initial letter to creditors – February 17, 2021
- Listing of creditors as at February 11, 2021
- First Report of the Monitor – February 18, 2021
- Second Report of the Monitor – March 2, 2021
- Third Report of the Monitor – April 8, 2021
- Supplement to the Third Report of the Receiver – April 13, 2021
- Fourth Report of the Monitor – May 20, 2021
- Monitor's Report on Plan – June 28, 2021
- Supplemental Monitor's Report on Plan – July 16, 2021
- Fifth Report of the Monitor – July 20, 2021
- Certificate of the Monitor (re: Plan Implementation)
- Sixth Report of the Monitor – September 14, 2021
Service List
Contact Us
BDO Canada Limited
#110, 5800 – 2nd Street SW
Calgary, Alberta T2H 0H2
Creditor Email: [email protected]
Phone: 825.509.0394
Fax: 403.640.0591