ABS Friction Inc.
- Proceeding
- ProposalParagraph 51(1)(f) of the Act
- File
- 35-3158557
- Industry
- Manufacturing · Vehicles, parts & aerospace
ABS Friction Inc. commenced Division I proposal proceedings under the Bankruptcy and Insolvency Act on January 15, 2025, in the Ontario Superior Court of Justice, under court file number 35-3158557. The proceeding is in Ontario and remains active. The record of this matter extends no further: it captures the January 15 commencement and nothing after it. No proposal terms, creditor meeting, court attendance or trustee reporting has been entered on the record to date, and readers tracking the file should treat the commencement as the only established milestone.
A claims procedure has been established — see the order for deadlines.
Opened the Division I proposal proceeding in the Ontario Superior Court of Justice, dated 15 January 2025 and assigned court file 35-3158557.
Source: Motion Record – Dated January 15, 2025 – Returnable January 31, 2025
Debtor
ABS Friction Inc.
Proposal trustee
Bricks Damiani
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Leitch | Ontario Superior Court of Justice | 1 order, Jan 2025 | 5 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeBricks Damiani | Scott Petrie LLP | 15 Jan 2025 | Application · 15 Jan 2025 |
| CreditorBricks Damiani Inc | Scott Petrie LLP | 15 Jan 2025 | Application · 15 Jan 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Nutaratori Capital Inc.as at the date of the Proposal — General security agreement dated March 15, 2018 over all assets, properties and undertakings of the Company — Related-party creditor (indebtedness described as 'related party indebtedness'); security opinion obtained from Nutaratori Capital's own counsel stating security is perfected/enforceable in priority to all other registrations, but Trustee has not obtained an independent opinion confirming this (opinion unconfirmed by Trustee); also holds security over the Proposal Pool itself; amount described in prose as 'totaling $6.0 million' (p.4) and shown as $6,00 | $6M | Creditor Package – Proposal – Dated December 5, 2024 |
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
34 more claims in 3 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.EstimatedCreditor Package – Proposal · 5 Dec 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | of proven claimsconditional | Estimatedper the trustee | Creditor Package – Proposal · 5 Dec 2024 |
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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs 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 |
|---|---|---|
Court Order – Proposal Approval – Dated January 31, 2025
| PDF · Subscribers | |
| Endorsement of Justice Leitch – Dated January 31, 2025 | PDF · Subscribers | |
Motion Record – Dated January 15, 2025 – Returnable January 31, 2025
| PDF · Subscribers | |
Notice to Creditors of Court Hearing – Dated January 15, 2025
| PDF · Subscribers | |
Creditor Package – Proposal – Dated December 5, 2024
| PDF · Subscribers | |
| Certificate of Filing of a Proposal – Dated November 27, 2024 | PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
Voting Letter
| 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., “ABS Friction Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/abs-friction-inc