Allied Track Services Inc. filed a notice of intention to make a proposal under section 50.4 of the Bankruptcy and Insolvency Act on January 21, 2021, in the Ontario Superior Court of Justice (In Bankruptcy and Insolvency), Commercial List. The proceeding remains active. A preliminary list of creditors prepared as at January 21, 2021 from the company's own records, and delivered without admission as to any liability, states a total of $125,200,867.88, unclassified as between secured and unsecured claims. The largest entries are Bridging Finance Inc. at $87,686,400.61, Allied Track Equipment Company LLC at $16,519,215.03 and Swift Railroad Holdings US LLC at $14,846,266.23. Crown and regulatory claims listed include the Receiver General at $1,319,758.41, the Canada Revenue Agency at $1,195,344.75 and $5,000, Ontario's Ministry of Finance employer health tax at $135,435.01 and the Ontario workers' compensation board at $234,201.77, alongside several hundred rail, equipment and trade suppliers across Ontario and Western Canada.
The officer filed a report. The Company's business and assets were sold as a going concern under a court-approved SISP; the Company (renamed 1958635 Ontario Inc.) no longer operates, its employees were hired by the Purchaser, and no recoveries are expected for creditors.
Source: Trustee's Report to creditors on Preliminary Administration dated July 26, 2021
The court granted an approval and vesting order for the sale to 2806401 Ontario Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Proposal Trustee's Certificate confirming payment of the Purchase Price and satisfaction of closing conditions.
Unofficial Transcript of Endorsement of Justice Dietrich dated April 7, 2021 — Endorsement / reasons
The officer filed report no. Supplement to the Second Report. The Company continues to operate its railroad maintenance business while the sale transaction (now formalized as an Amended and Restated APA) proceeds toward closing, with funding provided under an increased DIP facility to cover critical operating costs including payroll and vendors; following closing, the Company is expected to have no remaining employees and may be assigned into bankruptcy.
Source: Supplement to Second Report of the Proposal Trustee dated April 1, 2021
The officer filed report no. Second Report. Allied continues to operate its railroad maintenance and signalling business under NOI protection while pursuing a sale of substantially all assets to a stalking horse purchaser following a SISP that yielded no superior binding offers; post-closing the Company is expected to have no remaining employees and may become bankrupt to complete wind-down.
Source: Second Report of the Proposal Trustee dated March 9, 2021
Motion Record of Allied Track Services Inc. returnable March 15, 2021 was filed. Court file 32-2705503.
Source: Motion Record of Allied Track Services Inc. returnable March 15, 2021
Allied Track Services filed its notice of intention under BIA s. 50.4, opening the proceeding in the Ontario Superior Court of Justice, Commercial List.
Certificate of Filing of the Notice of Intention to Make a Proposal — NOI certificate of filing
Debtor
Allied Track Services Inc.
Proposal trustee
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hainey | Ontario Superior Court of Justice | 2 orders, Mar 2021 – May 2021 | 211 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 2 orders, Apr 2021 | 94 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeAlixPartners | Blake, Cassels & Graydon LLP | 12 Apr 2021 | Service list · 12 Apr 2021 |
| ApplicantAllied Track Services Inc. | Aird & Berlis LLP · Bennett Jones LLP | 7 Apr 2021 | Service list · 12 Apr 2021 |
| Interim lenderProposed Bridging Finance Inc., as Agent | Chaitons LLP | 12 Apr 2021 | Service list · 12 Apr 2021 |
| CreditorKenex Holdings LLC | White & Case LLP | 12 Apr 2021 | Service list · 12 Apr 2021 |
| CreditorOntario Northland Transportation Commission | Cassels Brock & Blackwell LLP | 12 Apr 2021 | Service list · 12 Apr 2021 |
| CreditorT-Rail Products Inc | Stikeman Elliott LLP | 12 Apr 2021 | Service list · 12 Apr 2021 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Allied Track Equipment Company LLCListed in preliminary list of creditors as per company records; classification (secured vs unsecured) not specified on this page, included here as related-party entity name suggests possible affiliate; treated as unsecured per document listing - see unsecured_creditors instead — debtor: Allied Track Services Inc. · as of 21 Jan 2021 | $16.5M | NOI Notice to Creditors dated January 25, 2021 |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
177 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale closed — The SISP resulted in a Court-approved going concern sale to 2806401 Ontario Inc.Trustee's Report to creditors on Preliminary Administration dated July… · 26 Jul 2021
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2806401 Ontario Inc.all of the Vendor's right, title and interest in and to the Purchased Assets · assets and shares · ResidualCo: 1958635 Ontario Inc. · agreement 1 Apr 2021 | Subscribers | Closed30 Apr 2021 | Trustee's Report to creditors on Preliminary… |
As at ·
Cash on hand
$50K
As at 26 Jul 2021Trustee's Report to creditors on Preliminary Administration dated July 26, 2021
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 |
|---|---|---|
Trustee's Report to creditors on Preliminary Administration dated July 26, 2021
| PDF · Subscribers | |
Notice of Bankruptcy and First Meeting of Creditors
| PDF · Subscribers | |
Endorsement of Justice McEwen dated July 7, 2021
| PDF · Subscribers | |
| Bankruptcy Certificate of Appointment dated July 6, 2021 | PDF · Subscribers | |
Stay Extension Order dated May 19, 2021
| PDF · Subscribers | |
Service List as at April 12, 2021
| PDF · Subscribers | |
Approval and Vesting Order dated April 7, 2021
| PDF · Subscribers | |
Unofficial Transcript of Endorsement of Justice Dietrich dated April 7, 2021
| PDF · Subscribers | |
Supplement to Second Report of the Proposal Trustee dated April 1, 2021
| PDF · Subscribers | |
| Endorsement of Justice Hainey dated March 15, 2021 | PDF · Subscribers | |
Extension Order dated March 15, 2021
| PDF · Subscribers | |
Second Report of the Proposal Trustee dated March 9, 2021
| PDF · Subscribers | |
Motion Record of Allied Track Services Inc. returnable March 15, 2021
| PDF · Subscribers | |
NOI Notice to Creditors dated January 25, 2021
| PDF · Subscribers | |
| Extension Order dated January 22, 2021 | PDF · Subscribers | |
| Certificate of Filing of the Notice of Intention to Make a Proposal | PDF · Subscribers | |
| Factum of the Applicant re Motion returnable January 22, 2021 | PDF · Subscribers | |
| First Report of the Proposal Trustee dated January 21, 2021 | PDF · Subscribers | |
Motion Record returnable January 22, 2021
| 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., “Allied Track Services Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/allied-track-services-inc
Sources last checked · summary updated 20 August 2026 · Report a correction · Printed from proceedings.ca/case/allied-track-services-inc
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.