Status Updates
Court Orders
Motion Materials
Service List
Other Documents & Notices
Sales Process

Twin Butte Energy Ltd - Status Updates

March 30, 2017

On March 30, 2017, the Receiver closed the HOC (now legally known as West Lake Energy Corp.) Transaction in accordance with the Sale Approval and Vesting Order granted on January 18, 2017. Also on March 30, 2017, the Receiver filed the Receiver's Certificate certifying that the HOC Transaction has been completed to the satisfaction of the Receiver and made an interim distribution to the Banking Syndicate of approximately $200,600,000.00 in accordance with the Interim Distribution Order dated March 27, 2017. The Receiver anticipates seeking a further order from the Court approving a claims process in due course.

January 18, 2017

On January 18, 2017 the Receiver sought and were granted a sale approval and vesting Order. The Order authorized the Receiver to sell all of Twin Butte’s oil and gas assets to Henenghaixin Operating Corp. ("HOC Transaction"). The Receiver expects the transaction to close in the first quarter of 2017. Once the HOC Transaction has closed the Receiver anticipates making an application to Court requesting approval to initiate a claims process. Further updates will be provided with respect to closing and the claims process when they become available.

October 11, 2016

On October 11, 2016 Receiver sought and was granted an Order approving a sale investor and solicitation process ("SISP”). The Order also approved the Receiver to engage CIBC World Markets Inc. and Peters & Co. Limited as sales agents to assist in executing the SISP. See the "Sales Process" section of this website for further information on the SISP.

September 1, 2016

On September 1, 2016 FTI Consulting Canada Inc. was appointed as Receiver pursuant to an Order of the Court of Queen's Bench of Alberta of all the assets, undertakings and properties of Twin Butte Energy Ltd

Contact FTI

FTI Consulting
720, 440 - 2nd Avenue S.W
Calgary, AB T2P 5E9

Useful Links

FTI Consulting
Office of the Superintendent of Bankruptcy Canada