Hardie & Kelly Quattro Exploration and Production Ltd.Quattro Exploration and Production Ltd.

Status update as as December 13, 2018

On December 13, 2018, the Court of Queen’s Bench of Alberta (the “Court”) granted an order discharging Hardie & Kelly Inc. as receiver and manager (the “Receiver”) of Quattro Exploration and Production Ltd. (the “Company” or “Quattro”).  A copy of the Order for Discharge can be found below under the section entitled “Court Orders”.

There proved to be no funds available for distribution to creditors.

RECEIVERSHIP PROCEEDING

On February 2, 2017, the Court of granted an order (the “Receivership Order”) placing Quattro into receivership.   Hardie & Kelly Inc. has been appointed as the “Receiver of the Company.  A copy of the Receivership Order can be found below under the section entitled “Court Orders”.

The Receivership Order provides for a stay of proceedings such that creditors are prohibited from continuing or commencing any actions or exercising any rights against Quattro and or Quattro’s assets for payment of goods and services supplied to prior to February 2, 2017  absent seeking leave of the Court.  The Receivership Order further provides that suppliers of goods and services are restrained from discontinuing the provision of goods or services to the Receiver absent leave of the Court.

Contact individual for the Receiver – Jerri Beauchamp at 403-536-8503 or jbeauchamp@insolvency.net

Operational Contact Information

The Receiver has retained Veracity Energy Services Inc. (“Veracity”) to assist with the day-to-day management and operations of Quattro’s assets.  Inquiries associated with day-to-day field operations can be directed to Veracity at 403-537-1300.

Court Filings

Court Orders

Receiver’s Reports

Closing Certificates

Notices of Renunciation

_____________________________________________________________________

BANKRUPTCY PROCEEDING

On April 12, 2017, a the Court granted a Bankruptcy Order adjudging Quattro a bankrupt.  Hardie & Kelly Inc. was appointed as trustee of the bankrupt estate (the “Trustee”).

The first meeting of creditors (the “FMOC”) was held on May 17, 2017.  A copy of the Trustee’s Preliminary Report to Creditors presented at the FMOC can be found below:

Copies of the relevant documents necessary for creditors to file a claim with the Trustee are as follows:

For further information, please contact Jerri Beauchamp at 403-536-8503 or jbeauchamp@insolvency.net

______________________________________________________________________________________

COMPANIES’ CREDITORS ARRANGEMENT ACT PROCEEDING

On September 8, 2016, upon the application of Quattro ,  the Court  had granted an Initial Order transferring Quattro’s restructuring proceedings originally commenced under the Bankruptcy & Insolvency Act (the “BIA”) to the Companies’ Creditors Arrangement Act (the “CCAA”).  Hardie & Kelly Inc. was appointed as the monitor under the CCAA proceedings (the “Monitor”).

The Initial Order provided for the continuation of a stay of proceedings through to October 8, 2016 such that claims against Quattro for payment of goods and services supplied to Quattro prior to August 10, 2016, the date of filing of the Notice of Intention to Make a Proposal (“NOI”) under the BIA, continue to be suspended and creditors are still prohibited from continuing or commencing any actions or exercising any rights against the Company except with leave of the Court.

Claims Procedure Update as at February 2, 2017

Pursuant to the terms of the Receivership Order, the Claims Procedure has been suspended.  Neither the Receiver, the Monitor nor any claimants shall have any further obligation or requirement to continue with the determination or resolution of any claims filed pursuant to the Claims Procedure Order.

Claims Procedure and Claims Package

Pursuant to the terms of the Receivership Order, the Claims Procedure has been suspended.

On November 23, 2016, the Court granted a Claims Procedure Order, whereby both Pre-Filing and Subsequent Creditors (as defined in the Claims Procedure Order) are required to submit Claims by 5:00 MT December 21, 2016 (the “Claims Bar Date”), or, in the case of Subsequent Creditors, the later of the Claims Bar Date and 15 days from the date the Monitor sends them a Claims Package.  The Monitor has prepared a Claims Package in accordance with the Claims Procedure Order.  A copy of the Claims Package can be found below:

Claims Procedure Update – On January 5, 2017, the Court granted an Order extending the time for which the Monitor shall notify creditors by way of the issuance of Notices of Revision or Disallowance to those creditors having filed claims by the Claims Bar Date to January 23, 2017.

Court Orders

Court Filings

Monitor’s Reports and Correspondence

 

______________________________________________________________________________________

NOTICE OF INTENTION TO MAKE A PROPOSAL PROCEEDING

On August 10, 2016, Quattro had originally filed an NOI (the “Proposal Proceedings”).  Hardie & Kelly Inc. had been appointed as Trustee under the proposal proceedings (the “Proposal Trustee”). The Initial Order granted in the CCAA proceeding on September 8, 2016 provided for the termination of the Proposal Proceedings and the discharge of the Proposal Trustee.

The NOI and related documents can be found below in the Initial Creditor Notification package.