HCT Metal Manufacturing

HCT Metal Manufacturing, a Calgary, Alberta-based company, was placed in receivership on April 4 on application by Canadian Western Bank. EY was appointed receiver. Counsel is Faskens for the applicant and Walsh Law for the company.

4339274 Canada (formerly Norterra)

4339274 Canada (formerly Norterra), an Edmonton, Alberta-based company that offers ship, truck, rail and air logistics services, filed for bankruptcy on March 29, listing $83.1MM in liabilities, including approximately $80.9MM to Inuvialuit Development Corporation (IDC), the business arm of the Inuvialuit, the Inuit of Canada's western Arctic. The company's financial difficulties stemmed primarily from the poor performance of one of its former subsidiaries, Northern Transportation Company Limited (NTCL), which had been unprofitable for almost a decade and was draining cash from its parent and other profitable NorTerra subsidiaries. NTCL was sold to the Government of the Northwest Territories through a CCAA process in 2016, and ownership of several other NorTerra subsidiaries were transferred directly to IDC in early 2017. Grant Thornton is the bankruptcy trustee.

Sequoia Resources Corporation

Sequoia Resources Corporation, a Calgary, Alberta-based oil and gas company, filed for bankruptcy on March 23, listing $21.4MM in liabilities, including $4.2MM to Green Horizon Energy Services. The company previously filed an NOI on March 2. PwC is the bankruptcy trustee. Torys is counsel to the trustee.

Storm Rentals

Storm Rentals, a Whitecourt, Alberta-based oilfield service and rental company, was placed in receivership on March 21 on application by RBC. BDO was appointed receiver. MLT Aikins is counsel to the applicant.

Royer Developments 2015

Royer Developments 2015, an Edmonton, Alberta-based company specializing in excavation, site preparation and site remediation, filed an NOI on March 19, listing $3.6MM in liabilities, including $1.4MM to CRA. MNP is the proposal trustee.

Whitemud Mechanical

Whitemud Mechanical, an Edmonton, Alberta-based mechanical contractor, filed for bankruptcy on March 19, listing $2.1MM in liabilities. MNP is the bankruptcy trustee.

DG Web Developments

DG Web Developments, an Edmonton, Alberta-based company, filed for bankruptcy on March 9, owing $1.3MM to Alberta Treasury Branches. BDO is the bankruptcy trustee.

Web Mechanical Services

Web Mechanical Services, an Edmonton, Alberta-based company that provides HVAC and plumbing maintenance and repair services, filed for bankruptcy on March 9, listing $6.2MM in liabilities, including $2.4MM to Alberta Treasury Branch. BDO is the bankruptcy trustee.

Sequoia Resources Corporation

Sequoia Resources Corporation, an oil and gas company based in Calgary, Alberta, filed an NOI on March 2, listing $21.4MM in liabilities, including $4.2MM to Green Horizon Energy Services. According to the Alberta Energy Regulator, the company owns licences for 2,300 wells and nearly 700 pipeline segments. These operating licences were ordered suspended after the company told the AER that it would soon cease operations and, as a result of defaults in municipal tax payments, would not be able to afford to reclaim all of its properties. PwC is the proposal trustee.

Western Precast Group

Western Precast Group, a Spruce Grove, Alberta-based company that designs and builds precast concrete products, was placed in receivership on February 7 on application by ATB Financial, owed approximately $5.1MM. Grant Thornton was appointed receiver. McCarthy Tétrault is counsel to the applicant.

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