CALGARY OIL & GAS SYNDICATE GROUP LTD.

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

Court Orders


Monitor's Reports and Correspondence

Service List

Contact Us

BDO Canada Limited
#110, 5800 – 2nd Street SW
Calgary, Alberta T2H 0H2
Creditor Email: CalgaryOilandGas@bdo.ca
Phone: 825.509.0394
Fax: 403.640.0591

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