On February 17, 2016, Argent Energy Trust and certain subsidiaries filed an application for creditor protection under the Companies’ Creditors Arrangement Act (the “CCAA”) on February 17, 2016. Argent also received an Initial Interim Order on February 22, 2016, to have the CCAA recognized under Chapter 15 in the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division.
On May 17, 2016, Argent announced the sale of all of its oil and gas assets in the US to BXP Partners IV, LP. The transaction was approved by the Court of Queen's Bench of Alberta and the United States Bankruptcy Court. The proceeds received from the transaction were insufficient to provide any funds for distribution to unitholders or debentureholders of the Trust.
On September 2, 2016, the Trust was assigned in to bankruptcy, with FTI Consulting appointed the trustee, and the Trust is being dissolved.
For prior period filings, please go to www.sedar.com under ‘Issuer Profiles’.
For information regarding the bankruptcy and dissolution, please see http://cfcanada.fticonsulting.com/argent. In addition the Trustee can be contacted directly by calling 403-454-6032, by e-mail at email@example.com or by mail at FTI Consulting Inc., Suite 720, 440 - 2nd Avenue SW, Calgary, Alberta, Canada T2P 5E9.
All enquiries related to Argent’s former US assets should be directed to BXP Operating LLC, 950 Echo Lane, Suite 200, Houston, Texas, 77024, telephone: 832-871-5418.