11449346 Canada Inc., operating as P3 Panel Company, and 12574764 Canada Ltd., operating as United Edge Structural Components, filed a notice of intention to make a proposal under section 50.4 of the BIA on April 3, 2025 in Ontario, and the proceeding remains active. The Trustee's First Report sets out secured claims as of July 20, 2026. Against P3, admitted claims include $543,436.52 owing to 1394894 Ontario Inc. under an all-asset general security agreement and a $73,858.33 Canada Revenue Agency deemed trust claim under subsection 67(3) of the BIA that ranks ahead of other creditors subject to the Administration and Professional Charges. CWB National Leasing Inc.'s $506,646.49 proof of claim was not admitted: its contract with P3 was assigned to the purchaser under the approval and vesting order. United Edge is bankrupt, and P3's intercompany claims against it are valued by the Trustee at nil.
Sought approval of a revised secured claim distribution scheme with larger fee holdbacks, returnable November 10, 2026, and allowed National Bank's purchase-money claim over the Armada Collateral ahead of Deka's general security.
Source: Third Supplement to First Report of the Trustee - October 15, 2026
Report advancing a Secured Claim Distribution Scheme for $641,371.13 of remaining asset proceeds, attributed 43.33% to P3 and 56.67% to United Edge, with Surgenor disputing its share.
Source: Second Supplement to the First Report of the Trustee dated October 2, 2025 (Appendix A - E)
Motion Record of the Trustee (returnable August 5, 2026) — Application / notice of application
Second Supplement to the First Report of the Trustee dated October 2, 2025 (Appendix F & G) — Court officer report
Book of Authorities of the Proposal Trustee (for motion returnable August 25, 2025) — Application / notice of application
Motion Record of the Proposal Trustee (for motion returnable August 25, 2025) — Application / notice of application
Further order made by Justice Kershman the same day as the approval and vesting order in the Ottawa proceedings.
Source: Court Order dated July 30, 2025 (Ancillary Relief Order)
Approval and vesting order for the sale of P3's equipment and assets, including the Surgenor Collateral, to 1001281812 Ontario Inc.; the transaction closed August 11, 2025 at 5:27 PM.
Source: Court Order dated July 30, 2025 (Approval and Vesting Order)
Responding Motion Record filed by Royal Bank of Canada (for motion returnable July 30, 2025) — Application / notice of application
First supplement to the Fourth Report reported an APA amendment under which the purchaser advanced $85,000, deducted from the purchase price, after the Companies could not fund payroll on time.
Source: First Supplement to the Fourth Report of the Proposal Trustee dated July 28, 2025
Notice of Motion of the Proposal Trustee (for motion returnable July 30, 2025) — Application / notice of application
Fourth Report reported a binding July 22, 2025 asset purchase agreement with 1001281812 Ontario Inc. for substantially all assets, and trustee fees of $53,726 plus HST to July 22, 2025.
Source: Fourth Report of the Proposal Trustee dated July 25, 2025
Motion Record of the Debtors (for motion returnable July 30, 2025) — Application / notice of application
Third Report reported continued ordinary-course operations and cash flow shortfalls against forecast from customer non-payment, project delays and lost contracts; trustee fees of $122,982 plus HST from March 3 to May 31, 2025.
Source: Third Report of the Proposal Trustee dated June 4, 2025
Motion Record of the Debtors (for motion returnable June 11, 2025) — Application / notice of application
Order approving the terms of a sale and investment solicitation process for the business, to be conducted by the Proposal Trustee, with bids due June 30, 2025.
Source: Court Order dated April 29, 2025
Second Report of the Proposal Trustee (for motion returnable April 29, 2025) — Court officer report
Motion Record of the Debtors (for motion returnable April 29, 2025) — Application / notice of application
First Report of the Proposal Trustee (for motion returnable April 9, 2025) — Court officer report
Notice of intention to make a proposal filed under BIA section 50.4 at Ottawa, court file BK25-00000237-0033, with Albert Gelman Inc. as Proposal Trustee.
Source: Motion record of the Debtors (for motion returnable April 9, 2025)
11449346 Canada Inc. o/a P3 Panel Company and 12574764 Canada Ltd. o/a United Edge Structural Components — NOI filed, Ontario.
Debtor
11449346 Canada Inc. o/a P3 Panel Company and 12574764 Canada Ltd. o/a United Edge Structural Components
Proposal trustee
Albert Gelman
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Kershman | Ontario Superior Court of Justice | 4 orders, Apr 2025 – Jul 2025 | 19 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeAlbert Gelman | Paliare Roland Rosenberg Rothstein LLP | 30 Jul 2025 | Factum · 28 Jul 2025 |
| Debtor11449346 Canada Inc. o/a P3 Panel Company and 12574764 Canada Ltd. o/a United Edge Structural Components | Perley-Robertson, Hill & McDougall LLP/s.r.l. | 9 Apr 2025 | Factum · 7 Apr 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesDeemed trust pursuant to subsection 67(3) of the BIA — Quasi-governmental deemed-trust class claim; ranks in priority to other creditor claims subject to limited exceptions (Administration/Professional Charges). Amount includes accrued and accruing interest; admitted by Trustee. — debtor: 11449346 Canada Inc. (P3) · as of 20 Jul 2026 | $73.9K | Motion Record of the Trustee (returnable August 5, 2026) |
| 4 | Secured | |||
| 4 | Secured | |||
| 5 | PMSI / lessors | |||
| 5 | PMSI / lessors | |||
| 5 | PMSI / lessors | |||
| 5 | PMSI / lessors | |||
| 5 | PMSI / lessors | |||
| 5 | PMSI / lessors | |||
| 5 | PMSI / lessors |
12 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and PMSI / lessors claims.
Every creditor and every amount, drawn to scale.
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See all plans2 transactions · 2 closed — Purchaser's Qualified Bid was designated the Successful Bid in the SISP; the Trustee is seeking court approval on a motion returnable November 10, 2026 of a revised secured claim distribution scheme for the Sale Proceeds.Third Supplement to First Report of the Trustee - October 15, 2026 · 15 Oct 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1001281812 Ontario Inc.all of the Vendors' right, title and interest in and to the Purchased Assets · asset sale · agreement 22 Jul 2025 | Subscribers | Closed11 Aug 2025 | Fifth Report of the Proposal Trustee dated… |
| unnamedall of the equipment and assets of the debtor company [P3], including the Surgenor Collateral | not stated | Closeddate not stated | Second Supplement to the First Report of the… |
5 engagements · 2 firms — latest: Albert Gelman Inc., 21 Jul – 11 Aug 2025, soughtFifth Report of the Proposal Trustee · 15 Aug 2025
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Albert Gelman Inc.Trusteeperiod 3 of 3 | 21 Jul – 11 Aug 2025Sought | 10 people | Fifth Report of the Proposal Trustee · 15 Aug 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 people — Albert Gelman Inc., 21 Jul – 11 Aug 2025 · 33 blurred figures
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Albert Gelman Inc.Trusteeperiod 1 of 3 | 3 Mar – 31 May 2025Sought | 9 people | Third Report of the Proposal Trustee · 4 Jun 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9 people — Albert Gelman Inc., 3 Mar – 31 May 2025 · 27 blurred figures
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| Albert Gelman Inc.Trusteeperiod 1 of 3 | — | Fourth Report of the Proposal Trustee · 25 Jul 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paliare Roland Rosenberg Rothstein LLPCounsel to the trusteeperiod 2 of 2 | to 23 Jul 2025 | — | not stated | Fourth Report of the Proposal Trustee · 25 Jul 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paliare Roland Rosenberg Rothstein LLPCounsel to the trusteeperiod 1 of 2 | — | — | — | not stated | Third Report of the Proposal Trustee · 4 Jun 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
70 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$1.87M
As at 15 Oct 2026Third Supplement to First Report of the Trustee - October 15, 2026
Cash on hand
As at
Professional fees
As at
2 more reported figures, and the 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Responding Factum of the Trustee - October 15, 2026
| PDF · Subscribers | |
Third Supplement to First Report of the Trustee - October 15, 2026
| PDF · Subscribers | |
Motion Record of the Trustee (returnable August 5, 2026)
| PDF · Subscribers | |
Second Supplement to the First Report of the Trustee dated October 2, 2025 (Appendix A - E)
| PDF · Subscribers | |
Second Supplement to the First Report of the Trustee dated October 2, 2025 (Appendix F & G)
| PDF · Subscribers | |
| Court Order dated August 25, 2025 (Termination of Proposal Period and Change) | PDF · Subscribers | |
Book of Authorities of the Proposal Trustee (for motion returnable August 25, 2025)
| PDF · Subscribers | |
Factum of the Proposal Trustee (for motion returnable August 25, 2025)
| PDF · Subscribers | |
Fifth Report of the Proposal Trustee dated August 15, 2025
| PDF · Subscribers | |
Motion Record of the Proposal Trustee (for motion returnable August 25, 2025)
| PDF · Subscribers | |
| Service List (updated August 5, 2025) | PDF · Subscribers | |
Court Order dated July 30, 2025 (Ancillary Relief Order)
| PDF · Subscribers | |
Court Order dated July 30, 2025 (Approval and Vesting Order)
| PDF · Subscribers | |
| Responding Motion Record filed by Royal Bank of Canada (for motion returnable July 30, 2025) | PDF · Subscribers | |
Supplementary Factum of the Debtors (for motion returnable July 30, 2025)
| PDF · Subscribers | |
Factum of the Proposal Trustee (for motion returnable July 30, 2025)
| PDF · Subscribers | |
First Supplement to the Fourth Report of the Proposal Trustee dated July 28, 2025
| PDF · Subscribers | |
Notice of Motion of the Proposal Trustee (for motion returnable July 30, 2025)
| PDF · Subscribers | |
Factum of the Debtors (for motion returnable July 30, 2025)
| PDF · Subscribers | |
Fourth Report of the Proposal Trustee dated July 25, 2025
| PDF · Subscribers | |
Motion Record of the Debtors (for motion returnable July 30, 2025)
| PDF · Subscribers | |
| Court Order dated June 11, 2025 | PDF · Subscribers | |
Endorsement dated June 11, 2025
| PDF · Subscribers | |
Factum of the Debtors (for motion returnable June 11, 2025)
| PDF · Subscribers | |
| Motion Record of the Debtors (for motion returnable June 11, 2025) | PDF · Subscribers | |
Third Report of the Proposal Trustee dated June 4, 2025
| PDF · Subscribers | |
Court Order dated April 29, 2025
| PDF · Subscribers | |
Second Report of the Proposal Trustee (for motion returnable April 29, 2025)
| PDF · Subscribers | |
Factum of the Debtors (for motion returnable April 20, 2025)
| PDF · Subscribers | |
Motion Record of the Debtors (for motion returnable April 29, 2025)
| PDF · Subscribers | |
Court Order dated April 9, 2025
| PDF · Subscribers | |
Factum of the Debtors (for motion returnable April 9, 2025)
| PDF · Subscribers | |
| Certificate for the Notice of Intention – P3 | PDF · Subscribers | |
| Certificate for the Notice of Intention – UE | PDF · Subscribers | |
First Report of the Proposal Trustee (for motion returnable April 9, 2025)
| PDF · Subscribers | |
Motion record of the Debtors (for motion returnable April 9, 2025)
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “11449346 Canada Inc. o/a P3 Panel Company and 12574764 Canada Ltd. o/a United Edge Structural Components” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/11449346-canada-inc-o-a-p3-panel-company-and-12574764-canada-ltd-o-a-united-edge
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/11449346-canada-inc-o-a-p3-panel-company-and-12574764-canada-ltd-o-a-united-edge
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.