June 11, 2019

Filing Type:

Company Counsel: Bennett Jones

Trustee: Hudson & Company

Trustee Counsel: Dentons

Applicant: Safeway Holdings

Applicant Counsel: Burnet, Duckworth & Palmer

Industry:

Province:

Petrocapita Oil and Gas, a Calgary, Alberta-based oil and gas exploration company with operations in Alberta and Saskatchewan, was placed in receivership on June 11 on application by Safeway Holdings, owed approximately $8.1MM. The company attempted to sell its assets informally earlier in the year with the assistance of Sayer Energy Advisors but was unsuccessful, and it has admitted that it cannot repay the amounts due and owing to Safeway. Hudson & Company (GRIP) was appointed receiver. Counsel is Burnet, Duckworth & Palmer for the applicant, Bennett Jones for the company and Dentons for the receiver.