Hardie & Kelly EngagamentsArchived Engagements

Darian Resources Ltd. and Bowview Petroleum Inc.

Distributions to Creditors

Darian Resources Ltd. and Bowview Petroleum Inc. (collectively referred to as the “Companies”)successfully completed their restructuring proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”).  On Friday, July 2, 2010, the Court of Queen’s Bench of Alberta (the “Court”) issued its final order approving the implementation of the Plan of Compromise and Arrangement (the “Plan”).

The Monitor has processed the payments contemplated by the Plan and cheques were mailed to those creditors entitled to receive payments under the Plan during the week of July 5, 2010.

CCAA Proceedings

On February 12, 2010, the Companies made an application for protection under the CCAA and an Initial Order was granted by the Court.  Hardie & Kelly Inc. was appointed by the Court as monitor of the Companies (the “Monitor”).

The Initial Order provides certain relief including the imposition of an initial Stay of Proceedings (the “Stay”) against the Company and its assets through to February 19, 2010.  On June 24, 2010, the Court granted a further extension of the Stay through to July 5, 2010.

Contact for the Monitor – Marc Kelly – 403-252-1766 or mkelly@insolvency.net

Meeting of Creditors

A meeting of the creditors (the “Creditors’ Meeting”) of the Companies will be held on Monday, June 28, 2010 at 10:00 a.m. MDT at the offices of Borden Ladner Gervais LLP (1000, 400 Third Avenue SW, Calgary, Alberta) to consider the Companies’ Plan of Arrangement (the “Plan”) dated June 4, 2010 filed with the Court.
Creditors may cast their vote with respect to the Plan by:

  • Attending the Creditors’ Meeting; or
  • By completing the Instrument of Proxy and returning to the Monitor by mail or by facsimile to 403-640-0591 by 5:00 p.m. MDT on Friday, June 25, 2010

The necessary instructions and materials with respect to the Creditors’ Meeting are as follows:

Claims Process – (Deadline for filing claims was April 16, 2010)

On March 17, 2010, the Court issued an order directing Darian and Bowview, in consultation with the Monitor, to administer a claims process (the “Claims Process Order”).  Any creditor having a claim against Darian or Bowview arising on or before February 12, 2010 of any nature, including an unsecured, secured, contingent or unliquidated claim was required to file a Notice of Claim with the Monitor on or before 5:00 pm Mountain Daylight Time on April 16, 2010 (the “Claims Bar Date”) in order to participate in any voting or distributions in the CCAA proceedings.

Claims not filed with the Monitor by the Claims Bar Date in accordance with the terms of the Claims Process Order shall, unless otherwise ordered by the Court, be deemed to be forever barred and may not thereafter be advanced against Darian or Bowview.

The procedural matters associated with the claims process and the associated documents can be found below.

Court Orders

Court Filings

Monitor’s Reports

Letters to Creditors

Other Documents