2727906 Ontario Inc. (formerly known as Canaquip I et al.
- Proceeding
- NOIsubsection 50.4 (1) of the Bankruptcy and Insolvency Act
- File
- BK-25-03191883-0031
2727906 Ontario Inc. (formerly known as Canaquip Inc.) et al. filed a notice of intention to make a proposal on 7 March 2025 under subsection 50.4(1) of the Bankruptcy and Insolvency Act, in the Ontario Superior Court of Justice at Toronto, with Baigel Corp. as proposal trustee. The statement of affairs reports a deficiency of $7,626,143.24, comprising $3,336,423.44 of ordinary unsecured claims, $3,568,657.00 of contingent and trust liabilities, and a secured claim of $1,647,277.00 held by Royal Bank of Canada. The proceeding is carried on court files 31-3195924 and BK-25-03191883-0031.
The court granted an approval and vesting order for the sale to 1001113372 Ontario Inc. Closing terms, as extracted: vesting effective upon delivery of Trustee's Certificate confirming payment of purchase price and satisfaction/waiver of closing conditions.
Source: Approval and Vesting Order
The notice of intention to make a proposal was filed on 7 March 2025.
Source: Certificate of Filing a Notice of Intention to Make a Proposal
Debtor
2349200 Ontario Inc. (formerly known as Omni Equipment Group Inc.)
Debtor
2727906 Ontario Inc. (formerly known as Canaquip Inc.)
Proposal trustee
Baigel Corp.
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada (RBC) · in 584 casesGeneral Security Agreement dated October 16, 2019, which the Trustee assumes creates a first-ranking charge over all of Omni's Property; also security/conditional sales contract over a 2021 Jeep Grand Cherokee (asset no. 807) — Referred to in the Proposal as the 'Excluded Secured Creditor'; RBC is not required to file a Proof of Claim and its claim is excluded from the Proposal. RBC has agreed (forbearance agreement dated March 3, 2025) to forbear from enforcing security to allow completion of the SISP, with repayment in full by June 20, 2025. Statement of Affairs (sworn March 28, 2025, liabil · as of 21 Feb 2025 | $1.65M | Omni Holding Proposal creditor notice package |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
34 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale approved — the Transaction is hereby approvedApproval and Vesting Order · 2 May 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1001113372 Ontario Inc.all of the Sellers' right, title and interest in and to the Purchased Assets · asset sale · agreement 25 Apr 2025 | not stated | Closed12 May 2025 | Proposal Trustee’s Certificate |
Unsecured creditors: not yet estimated. DUCA a distribution · RBC paid in full.Canaquip Holding Proposal creditor notice package · 1 Apr 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | DUCA | — | a distribution | Estimatedper the proposal trustee | Motion Record of the Proposal Trustee · 30 May 2025 |
| Secured | Driven Financial Technologies Corporation | — | paid in full | per the trustee | Canaquip Holding Proposal creditor notice package · 1 Apr 2025 |
| Secured | RBC | — | paid in full | Estimatedper the proposal trustee | Motion Record of the Proposal Trustee · 30 May 2025 |
| Unsecured | — | — | not yet estimatedconditional | per the trustee | Canaquip Holding Proposal creditor notice package · 1 Apr 2025 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
As at ·
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 |
|---|---|---|
| Certificate of Appointment | PDF · Subscribers | |
| Certificate of Appointment | PDF · Subscribers | |
Order Amending the Title of Proceedings
| PDF · Subscribers | |
Motion Record of the Proposal Trustee
| PDF · Subscribers | |
Proposal Trustee’s Certificate
| PDF · Subscribers | |
Ancillary Relief Order
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Endorsement of Justice Steele
| PDF · Subscribers | |
| Factum of the Debtors, Omni and Canaquip | PDF · Subscribers | |
Motion Record of the Moving Parties
| PDF · Subscribers | |
| Trustee’s First Report to Court | PDF · Subscribers | |
Canaquip Holding Proposal creditor notice package
| PDF · Subscribers | |
| Omni Holding Proposal creditor notice package | PDF · Subscribers | |
Certificate of Filing a Notice of Intention to Make a Proposal
| PDF · Subscribers | |
| SISP Memo | PDF · Subscribers | |
| Certificate of Filing a Notice of Intention to Make a Proposal | PDF · Subscribers | |
Opportunity Teaser – Omni Equipment Group Inc. et al .
| 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., “2727906 Ontario Inc. (formerly known as Canaquip I et al.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/2727906-ontario-inc-formerly-known-as-canaquip-inc