Aereus Technologies Inc.
- Proceeding
- NOIBANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, c. B-3, AS AMENDED
- File
- 31-2971401
- Industry
- Manufacturing
Aereus Technologies Inc. filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act on August 4, 2023 in the Ontario Superior Court of Justice, court file 31-2971401. The creditor list as at the NOI filing date of July 31, 2023 reports unsecured claims aggregating $3,235,015, including $328,071 to Fasken Martineau DuMoulin LLP, counsel on the failed 2020 IPO/reverse takeover, $246,559 to MNP and $179,703 to CuVerro copper supplier Wieland Rolled Products North America Limited. Secured noteholders ranking pari passu include Victoria Ross at $1,337,124, Dana Gilman and Jolee Holdings Inc. at $805,070 each, Boksburg Ventures Inc. at $684,468, Robert A. Donaldson at $678,388 and Gregory Steers at $61,779. The company disputes the amount and validity of $621,000 claimed by former officer and director Thomas Portman under an October 25, 2012 general security agreement. Donaldson is a director of the stalking horse bidder, 1000608245 Ontario Inc.
The court granted an approval and vesting order for the sale to 1000608245 Ontario Inc. Closing terms, as extracted: Vesting effective upon delivery of the Proposal Trustee's Certificate confirming payment of the purchase price and satisfaction/waiver of closing conditions.
Source: Order of Justice Cavanagh (Assignment, Approval and Vesting Order)
Application filed August 4, 2023, commencing the proceeding in the Ontario Superior Court of Justice under court file no. 31-2971401; this is the record's commencement date.
Aereus Technologies Inc. – Certificate of Filing of a Notice of Intention to Make a Proposal — NOI certificate of filing
Debtor
Aereus Technologies Inc.
Proposal trustee
GlassRatner
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 4 orders, Aug 2023 – Sep 2023 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeGlassRatner | Aird & Berlis LLP | 14 Sep 2023 | Service list · 14 Sep 2023 |
| ApplicantAereus Technologies Inc. | Thornton Grout Finnigan LLP | 7 Aug 2023 | Factum · 7 Aug 2023 |
| Interim lenderStalking Horse | Miller Thomson LLP | 14 Sep 2023 | Service list · 14 Sep 2023 |
| CreditorThomas Portman | Pallet Valo LLP | 14 Sep 2023 | Service list · 14 Sep 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesCRA's recent audit concluded no such amounts were owing; Aereus has an informal payment plan remitting $8,243 weekly toward payroll tax arrears; deemed trust class (source deductions) though CRA disputes the balance — debtor: Aereus Technologies Inc. · as of 30 Jun 2023 | — | First Report of the Proposal Trustee |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) |
16 more claims in 3 classes The stack holds Deemed trusts (CRA and other), Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Sale process approved — The SISP is approved and the Debtor is authorized to enter into the Stalking Horse Agreement, with approval of any resulting sale to be sought on a subsequent motion.Order of Justice Cavanagh (Stalking Horse & SISP) · 8 Aug 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1000608245 Ontario Inc.Stalking horseall of the Company's right, title and interest in and to the assets described in the APA · asset sale · ResidualCo: 1805715 Ontario Inc. · agreement 4 Aug 2023 | Subscribers | Closed6 Oct 2023outside 30 Sep 2023 | Proposal Trustee’s Certificate |
| Date | Document | File |
|---|---|---|
Proposal Trustee’s Certificate
| PDF · Subscribers | |
Order of Justice Cavanagh (Assignment, Approval and Vesting Order)
| PDF · Subscribers | |
| Supplementary Service List | PDF · Subscribers | |
Motion Record (returnable September 21, 2023)
| PDF · Subscribers | |
| Second Report of the Proposal Trustee | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Endorsement of Justice Cavanagh
| PDF · Subscribers | |
Order of Justice Cavanagh (DIP Financing and Priority Charges)
| PDF · Subscribers | |
Order of Justice Cavanagh (Stalking Horse & SISP)
| PDF · Subscribers | |
Factum
| PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
Motion Record (returnable August 8, 2023)
| PDF · Subscribers | |
| Aereus Technologies Inc. – Certificate of Filing of a Notice of Intention to Make a Proposal | 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., “Aereus Technologies Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/aereus-technologies-inc