Arsenault Sawmill Ltd

Active

Proceeding: Receivership (court-appointed)Section 44 of the Judicature Act, R.S.P.E.I. 1988, Cap. J-2.1, Rule 41 of the Rules of Court of Prince Edward Island, and Section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3
Court: Supreme Court of Prince Edward Island
File: S1 GS 27371

Filings held2

Last activity20 Oct 2016

On the record3,623 days

OverviewSummary updated 5 September 2026

Arsenault Sawmill Ltd has been in court-appointed receivership in the Supreme Court of Prince Edward Island since October 20, 2016, under BIA s. 243 and provincial Judicature Act authority, and the proceeding remains active. The receivership covers specific real property of the Named Parties, which also include Frank J. Forestry Ltd., Le Magasin Du Coin L.A. Ltee. and members of the Arsenault family. Prince Edward Island Century 2000 Fund Inc. holds collateral mortgages securing $3,489,622; Evangeline-Central Credit Union Ltd. is owed $160,000 and Finance PEI $220,766. Real property under Note 1, the sawmill and Frank J. Forestry, is carried at $833,800 on values drawn from BDO Canada Limited proposal packages dated August 17, 2016, with other Named Parties' real property at $1 pending appraisals. The receiver states it cannot estimate realizations to the various creditor classes. Schedule A unsecured claims include $80,100 to the Canada Revenue Agency for GST/HST, $66,830 to the Workers Compensation Board of PEI, a further $6,674 to CRA, and trade accounts.

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Case updates2 dated entries

20 Oct 2016

#Filing

Section 245 Notice was filed.

Source: Section 245 Notice

20 Oct 2016

#Order

The court appointed PricewaterhouseCoopers Inc. as receiver and manager, on the application of PRINCE EDWARD ISLAND CENTURY 2000 FUND INC.. Court file S1 GS 27371.

Source: Receivership Order

Parties

Debtor

Arsenault Sawmill Ltd

Receiver

PwC

Capital structureAs asserted in the filings

Priority class	Creditor	Amount	Source
Secured	Prince Edward Island Century 2000 Fund Inc. · in 4 casesCollateral mortgages on real property (Sawmill Mortgages Doc Nos. 5905, 5906; Guarantors' Mortgages Doc Nos. 5907, 5908, 111139) — Amount owed to creditor holding security per Information Statement — debtor: Arsenault Sawmill Ltd., Frank J. Forestry Ltd., Le Magasin Du Coin L.A. Ltee., Leonce Arsenault, Raymond Arsenault, Elaine Arsenault, Celine Arsenault, Donald Arsenault, Janine Arsenault, Marcel Arsenault, and Janelle Arsenault	$3.49M	Section 245 Notice

This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.

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Documents2 filings

Date	Document	File
7 Nov 2016	Section 245 Notice Appointee PricewaterhouseCoopers Inc. Appointee role Receiver Commencement date 20 October 2016 Financial position Subscribers + 3 more extracted facts	PDF · Subscribers

20 Oct 2016	Receivership Order Applicant PRINCE EDWARD ISLAND CENTURY 2000 FUND INC. Appointee PricewaterhouseCoopers Inc. Appointee role receiver and manager Commencement date 20 October 2016 + 3 more extracted facts	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., “Arsenault Sawmill Ltd” (Receivership (court-appointed)), Supreme Court of Prince Edward Island. Retrieved 20 September 2026, https://proceedings.ca/case/arsenault-sawmill-ltd