KPMG Inc. was appointed as Monitor (the "Monitor" or "KPMG") pursuant to an order (the "Initial Order") issued by the Court of Queen's Bench of Alberta (the "Court") on April 10, 2019 filed by Strategic Oil & Gas Ltd. and Strategic Transmission Ltd. (collectively, the "Company") under the Companies' Creditors Arrangement Act, R.S.C. 1985 c. C-36 as amended (the "CCAA")
The Initial Order granted, amongst other things, a stay of proceedings until May 6, 2019 while the Company pursues restructuring initiatives under the CCAA.
On May 6, 2019, the Court of Queen's Bench of Alberta granted a stay extension until and including June 5, 2019. Additionally, the Court approved the payment of the First Installment in accordance with the provisions of the KERP.
On May 9, 2019, the Court of Queen's Bench of Alberta granted a revised stay extension until and including September 30, 2019. Further, the Court approved the SISP and the Stalking Horse Bid.
On September 20, 2019, the Company obtained an order extending the stay of proceedings until and including November 29, 2019.
On October 11, 2019, the Company obtained an order extending the stay of proceedings until and including December 31, 2019. Further, the Court approved the Amended KERP and Claims Procedure.
On December 3, 2019, the Company obtained an order extending the stay of proceedings until and including January 31, 2020.
On January 28, 2020, the Court of Queen’s Bench of Alberta granted an Alberta Receivership Order and a Northwest Territories Receivership Order, resulting in the transition from the CCAA Proceedings to Receivership.
On February 27, 2020, the Court of Queen’s Bench of Alberta granted an Order approving the SISP.
On November 24, 2020 the Court of Queen's Bench of Alberta granted an Order for Partial Discharge of the Receiver.
On November 25, 2025 the Court of King's Bench of Alberta granted an Order for Discharge of the Receiver.
