Receivership Proceedings

On April 28, 2017, the Court of Queen’s Bench of Alberta issued an Order appointing Hardie & Kelly Inc. as Receiver (the “Receiver”) of only the interest of Verity Energy Ltd. (“Verity”) in the Sexsmith Plant, and all right title and interest in and to those interests, facilities, assets and any related assets (the “Property”).

Status Update – November 2 2017

The Receiver has been discharged and the proceedings concluded.  The principal secured creditor experienced a shortfall from the realizations. Consequently, there were no funds available for distribution to unsecured creditors.

Court Orders

• Order Appointing Receiver of Property – April 28 2017
• Sale Approval and Vesting Order –  June 6, 2017
• Distribution Order – July 18, 2017
• Final Distribution and Discharge Order – October 4, 2017

Court Filings

• Application re: Sale Approval and Vesting Order – filed May 29, 2017
• Affidavit of Denny Chow – July 6, 2017
• Application re: Distribution Order – filed July 10, 2017
• Affidavit of John Zang – July 13, 2017
• Application re: Final Distribution and Discharge – filed September 21, 2017
• Receiver’s Certificate – filed November 2, 2017

Receiver’s Reports

• First Report of the Receiver – May 30, 2017
• Second Report of the Receiver – July 10, 2017
• Third Report of the Receiver – September 2o, 2017

Contact information for the Receiver – Marc Kelly at 403-536-8510 or mkelly@insolvency.net