Respec Oilfield Services Ltd. SUPPLEMENT TO THE MONITOR’S THIRTEENTH REPORT

Action No. 0903 06823
Bankruptcy No.: 24-115167
Respec Oilfield Services Ltd.
SUPPLEMENT TO THE MONITOR’S THIRTEENTH REPORT
January 20, 2010
Action No. 0903 06823
Bankruptcy No.: 24-115167
IN THE COURT OF QUEEN’S BENCH OF ALBERTA
JUDICIAL DISTRICT OF EDMONTON
IN THE MATTER OF THE BANKRUPTCY & INSOLVENCY ACT,
R.S.C. 1985, c. B-3, AS AMENDED
AND THE COMPANIES’ CREDITORS ARRANGEMENT ACT,
R.S.C. 1985, c. C-36, AS AMENDED
AND IN THE MATTER OF A PLAN OF COMPROMISE OR ARRANGEMENT OF
RESPEC OILFIELD SERVICES LTD.
(“Respec” or the “Company”)
SUPPLEMENT TO THE THIRTEENTH REPORT TO THE COURT
SUBMITTED BY PRICEWATERHOUSECOOPERS INC.
IN ITS CAPACITY AS MONITOR
1.
On January 19, 2010, the Monitor circulated to the service list its Thirteenth Report to the
court dated January 18, 2010 (the “Report”).
2.
Paragraph 7 of the Report outlined outstanding requests for information as set out below:
(i)
Financial records (ie. invoices, field tickets etc.) relating to the $912,000
accounts receivable (the “Lagoon Project”)
3.
(ii)
Receipts for $10,000 advance to Mr. Rewega;
(iii)
Proof of ownership of equipment removed from Ritchie Bros. auction;
(iv)
Real estate binders for real property owned by Respec.
In paragraph 10 of the Report, the Monitor states the Mr. Rewega advised the Monitor
that the financial records for the Lagoon Project and the real estate binders would be
made available to Ms. Grace on January 19, 2010.
4.
On January 20, 2010, Ms. Grace advised the Monitor that the financial records for the
Lagoon Project and the real estate binders were made available by Mrs. Rewega and are
in Ms. Grace’s possession.
-25.
In addition, paragraph 11 of the Report states that the only information provided by the
Rewegas in relation to the Lagoon Project is a letter addressed to the MDO by Genivar
dated November 24, 2009 and includes invoices issued by the Company. The letter was
attached as Exhibit 3 to the Report. We attach a schedule prepared by Genivar that forms
part of the letter dated November 24, 2009.
The Monitor respectfully submits to the court this, its Supplement to the Thirteenth Report.
Dated this 20th day of January 2010.
PricewaterhouseCoopers Inc.
In its capacity as Monitor of
Respec Oilfield Services Ltd.
Exhibit 1
-3Action No. 0903 06823
Bankruptcy No.: 24-115167
IN THE COURT OF QUEEN'S BENCH OF ALBERTA
JUDICIAL DISTRICT OF EDMONTON
IN THE MATTER OF THE BANKRUPTCY & INSOLVENCY
ACT,
R.S.C. 1985, c. B-3, AS AMENDED
AND THE COMPANIES’ CREDITORS ARRANGEMENT
ACT,
R.S.C. 1985, c. C-36, AS AMENDED
AND IN THE MATTER OF A PLAN OF COMPROMISE
OR ARRANGEMENT OF RESPEC OILFIELD SERVICES
LTD.
SUPPLEMENT TO THE THIRTEENTH REPORT OF
THE MONITOR
PRICEWATERHOUSECOOPERS INC.
1501 Toronto Dominion Tower
10088 – 102 Avenue
Edmonton, AB, T5J 3N5
Telephone: 780.441.6700