Okotoks Air Ranch Limited Partnership, Okotoks Air Ranch General Partner Inc., and Okotoks Air Ranch Limited Partner Inc.

Okotoks Air Ranch Limited Partnership ("OAR LP"), Okotoks Air Ranch General Partner Inc. (“GP Inc.”) and Okotoks Air Ranch Limited Partner Inc. ("LP Inc.") (collectively, the “OAR”) own and operate the Okotoks Air Ranch airport located south of Calgary, Alberta.

On February 20, 2025, the above noted entities filed Notices of Intention to Make Proposals ("NOIs") under subsection 50.4(1) of the Bankruptcy and Insolvency Act. MNP Ltd. consented to act as Licensed Insolvency Trustee in the NOI proceedings (the “Proposal Trustee”).

On March 13, 2025, the OAR applied for and obtained an Order approving, among other things, a stalking horse sales and investment solicitation process (the “SISP”) in respect of the operations, property, assets and undertakings of OAR. OAR’s assets include four parcels of real property, two hangar buildings and other assets and equipment related to general maintenance of the airport. The real property may also have redevelopment potential as an infill opportunity with surrounding amenities, existing housing, infrastructure, and utilities.  For interested buyers adjacent land parcels may also be available for purchase outside of these NOI proceedings

All parties interested in participating in the SISP (a “Potential Bidder”) are required to sign a non-disclosure agreement (a “NDA”), provide a brief letter supplying the Potential Bidder’s identity, contact information and full disclosure of its direct and indirect principals, and any other information that the Proposal Trustee may reasonably request. Access to confidential information will be provided upon receipt of these documents.

Interested parties are to contact Steven Barlott at [email protected] for more information.

All bids must be received by the Proposal Trustee by no later than April 21, 2025, at 5:00 p.m. MDT. 

On May 5, 2025, the OAR applied for and obtained an Order approving the Stalking Horse Purchase Agreement and vesting title to the purchaser and extending the time within which the OAR is required to file a Proposal to June 20, 2025.