I noticed that the article linked above says, "Although Mr. Liknes was not listed as a director for Winter Petroleum..."
AL was not a director, that means he held no ownership of the company. The Directors of the company would be available through a corporate search, available from any Alberta Registry Agent for about $13. Has the company been struck from the register? We don't know if their intellectual or physical property was bought by another O&G company, or what happened... We also don't know if the reported debts are still outstanding or have been addressed. Since it was an incorporated company, any shareholders would have limited liability. Even if AL held some shares, because he wasn't a Director the closure of Winter Petroleum Ltd. would have no additional bearing on him.. other than being out of a job like everyone else. He wouldn't be responsible or liable for any of the debt incurred by the company.
Generally the
shareholders wouldn't have any liability beyond whatever money they may have lost by the Company going bankrupt (i.e. having purchased shares in a Company that ends up worthless). I believe that in some cases where unfair trading or illegality is shown to have occurred, Directors might be liable, but I'm not certain of the all the conditions.
Winter Petroleum filed a Change of Director/Shareholder on June 25, 2017. I did a Current Search of the Company last week for the basics but would need to do a Certificate of Status search to see the details of that document. I was going to do that this weekend but didn't have time.
It wouldn't surprise me to see that's when AL stepped down as Director.
Winter Petroleum started life as 649028 Alberta Ltd. on Mar. 31, 1995. It filed a name change on July 7, 1995, becoming Winter Petroleum Ltd.
On May 2, 2007 there was a status change listed referring to Failure to File Annual Returns, and a further status change on May 17, 2007 for which I have no description but I'm going to guess they filed because the Company did continue on.
Nov. 20, 2011 they had an address change (I don't have the details).
April 17, 2014 is the date the last annual return was filed.
There are 5 listed voting shareholders (AL isn't one of them) whose names I will not post.
The use of numbered companies in o&g dealings isn't at all unusual. When companies have an acquisition usually one or more numbered companies will be set up and the acquired interests moved from vendor to numbered company (or sequentially more than one) and finally to the purchaser. This is done for tax reasons and is within the framework of legitimate business practice. Just because numbered companies are used doesn't necessarily mean anything nefarious is going on.