November 29, 2018
R.I.I. North America, a Calgary, Alberta-based upstream oil company that owns the North American intellectual property rights for a patented enhanced oil recovery technology, had certain of its assets placed in receivership on November 29 on application by Espresso Capital. The company, which had filed an NOI in October 2018, was later deemed to have filed for bankruptcy in November after it did not file a proposal within its granted 30-day stay of proceedings. MNP was the proposal trustee. In these proceedings, Hardie & Kelly was appointed receiver over select assets of the company, including the accounts receivable and the intellectual property and patents. BLG is counsel to the applicant.