Whitemud Resources Inc.

Pursuant to the Order of the Court of Queen’s Bench of Alberta granted on December 15, 2010, Deloitte & Touche Inc. was appointed as Receiver and Manager of Whitemud Resources Inc.  Information regarding the receivership and copies of court documents will be posted on this web site from time to time.

Any questions regarding this receivership are to be directed to Vanessa Grant at (403)-298-5955.

Court Documents

Consent Order
Affidavit of Jeff Bowling – December 15, 2010
Amended Order - December 15, 2010
Court Order - March 31, 2011
Court Order - May 11, 2011
Notice of Hearing of Application for Court Approval of Proposal – May 18, 2011
Service Letter - May 6, 2011
Application 
Filed Order - June 28, 2011
Order - August 12, 2011
Ratification Order
Order - December 15, 2011

Receiver's Reports

Notice of Receiver and Receiver’s Statement
First Report and Application - March 23, 2011
Form 40 – Report of Trustee on Proposal – May 19, 2011
Second Report - May 6, 2011
Third Report of the Court-Appointed Receiver and Manager – June 23, 2011
Fourth Report of the Court-Appointed Receiver and Manager - December 8, 2011
Whitemud Receiver’s Interim Statement

The Receiver made an application to the Court on March 31, 2011 (the “March 31 Application”) seeking  approval of and authorization for the Receiver to file a Proposal (the “Proposal”) pursuant to Part III, Division I of the Bankruptcy and Insolvency Act.  At the March 31 Application, the Court granted the requested order and the Proposal was subsequently lodged with the Office of the Superintendent of Bankruptcy on April 1, 2011.  Deloitte will be acting as Trustee under the Proposal.    The meeting of creditors to consider the Proposal will be held on April 21, 2011 at 2:00 p.m. at the offices of Bennett Jones LLP, 4500 Bankers Hall East, 855 2nd Street SW in Calgary, Alberta.

In order to be eligible to vote at the meeting, creditors must have filed, prior to the meeting, a valid proof of claim form and, where necessary, a proxy. Creditors who are unable to attend in person or send a proxy, may submit their voting letter prior to the meeting.

A Creditors' Package is attached below containing a Proof of Claim Form, a Proxy Form, and a Voting Letter.

Creditors' Package

Also attached are the copies of the New Debentures and the New Trust Indenture as such terms are defined in the Proposal:

New Debentures
New Trust Indenture

Meeting of Creditors

At the meeting of creditors to consider the Proposal held on April 21, 2011, Kasten Energy Inc. put forward some substantial amendments to the Proposal, which will significantly increase the recovery to Whitemud’s creditors.  Kasten indicated that they would be providing an amended version of the Proposal (the “Amended Proposal”) to the Trustee by the close of business on Monday, April 25, 2011.  A draft of the Amended Proposal was received by the Trustee on April 25, 2011.  The Trustee sought clarification on a few of the amendments and then filed the Amended Proposal with the Office of the Superintendent of Bankruptcy on April 29, 2011.  The Amended Proposal, together with correspondence from the Trustee discussing the amendments contained therein, was mailed to all creditor and is attached below:
Letter to Creditors and Proposal

A black-lined version comparing the original proposal filed on April 1, 2011 with the Amended Proposal filed on April 29, 2011 is attached below:
Black-lined Proposal

Second Amended Proposal

The Trustee made an application to the Court of Queen’s Bench of Alberta for ratification of the Amended Proposal on June 6, 2011 (the “Ratification Application”).  The Ratification Application was adjourned until August 12, 2011 so that a further Amended Proposal (the “Second Amended Proposal”) could be filed with the Office of the Superintendent of Bankruptcy and mailed to the creditors, which was completed on July 11, 2011.  The general meeting of creditors has been reconvened to allow creditors to consider the Second Amended Proposal (the “Recovened Creditors’ Meeting”).  The Recovened Creditors’ Meeting will be held at the offices of Deloitte & Touche Inc. at 700 Bankers’ Court, 850 2nd Street SW, Calgary, Alberta at 10:00 a.m. on Thursday, July 21, 2011.   The Second Amended Proposal, together with correspondence from the Trustee discussing the amendments contained therein, was mailed to all creditor and is attached below:
Creditor Package - Second Amendment Proposal
A black-lined version comparing the Amended Proposal filed on April 29, 2011 with the Second Amended Proposal filed on April 29, 2011 is attached below:
Creditor Package - Black-lined

Form 40 – Report of Trustee on Second Amended Proposal