Atlantic Crane Group
- Proceeding
- NOIBankruptcy and Insolvency Act
- File
- Hfx No. 507069
Atlantic Crane Group remains in proceedings begun 16 June 2021 under section 50.4 of the Bankruptcy and Insolvency Act, filed in the Supreme Court of Nova Scotia in Bankruptcy and Insolvency under court file 44783. The notice of intention covers Atlantic Crane & Material Handling Limited, Labrador Cranes 2005 Limited and LCB Rentals Limited. The companies have advised that they will operate within the limits of their existing Toronto-Dominion Bank operating facility, and discussions have been held with counsel for the Bank of Montreal concerning that bank's interests in the companies and the insolvency proceedings. A stalking horse asset purchase agreement sets a purchase price of $1,250,000 plus payment or assumption of sums owing to the Business Development Bank of Canada secured by its mortgage over LCB Rentals Limited's real property.
Second Letter to Honorable Justice Bodurtha - Boyne Clarke (Hill) — Stakeholder communication
The court granted an approval and vesting order for the sale to Russell Hercules SLR Inc. Closing terms, as extracted: Upon the delivery of a Trustee's certificate to the Applicants and the Purchaser ... closing the Transaction in accordance with the APA, all of the Applicants' right, title and interest in and to the Purchased Assets ... shall vest absolutely in the Purchaser.
Source: Sale Approval and Vesting Order
The officer filed report no. Third Report. The Company advised the Trustee that its operations have continued uninterrupted, though it continues to struggle with cash flow stress from reduced supplier credit terms and delayed receivables collection. Its assets are being sold to Hercules SLR Inc. for $1,357,000 following a stalking-horse sale process and auction.
Source: Third Report of MNP
Debtor
Atlantic Crane Group
Proposal trustee
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | BDC Capital · in 9 casesGeneral Security Agreement over all present and after-acquired property, registered NS, NB & NL; subordinate to TD Bank — $1,100,000 as stated by Trustee; subordinated to TD Bank; security opinion not obtained (validity/enforceability not confirmed) — debtor: Atlantic Crane Group · as of 4 Jun 2021 | $1.1M | First Report of MNP |
| 4 | Secured | |||
| 4 | Secured | |||
| 5 | PMSI / lessors | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
13 more claims in 3 classes The stack holds Secured, PMSI / lessors and Unsecured claims.
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See all plans2 transactions · 1 not completed · 1 proposed — The sale to Hercules did not close due to a disputed price adjustment; the Trustee reports this as a material adverse change requiring court directionMaterial Adverse Change Report of MNP · 7 Oct 2021
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Russell Hercules SLR Inc.Stalking horseall of the Applicants' right, title and interest in and to the assets and business undertaking of the Applicants defined as the "Purchased Assets" within the APA · asset sale · agreement 9 Sep 2021 | Subscribers | Not completed5 Oct 2021 | Material Adverse Change Report of MNP |
| Russell Industries Corp.Stalking horsethe assets, property and undertakings (the "Purchased Assets") of Atlantic Crane & Material Handling Limited, Labrador Cranes 2005 Limited, and LCB Rentals Limited · asset sale · nominee/assignee: a company to be incorporated, or its assignee · agreement 4 Aug 2021 | Subscribers | Proposed | Material Adverse Change Report of MNP |
| Date | Document | File |
|---|---|---|
| Affidavit of Peter Wong | PDF · Subscribers | |
| Draft Sale Approval and Vesting Order | PDF · Subscribers | |
| Letter to Honorable Justice Bodurtha - Boyne Clarke (Hill) | PDF · Subscribers | |
| Letter to Honorable Justice Bodurtha - Boyne Clarke (Hirschfeld) | PDF · Subscribers | |
| Letter to Honorable Justice Bodurtha - Hercules | PDF · Subscribers | |
Material Adverse Change Report of MNP
| PDF · Subscribers | |
| Second Letter to Honorable Justice Bodurtha - Boyne Clarke (Hill) | PDF · Subscribers | |
Sale Approval and Vesting Order
| PDF · Subscribers | |
| TD Bank Submissions | PDF · Subscribers | |
| Third Order Approving Extension of Time to Make a Proposal | PDF · Subscribers | |
Third Report of MNP
| PDF · Subscribers | |
Teaser
| PDF · Subscribers | |
| Brief | PDF · Subscribers | |
Confidentiality Order
| PDF · Subscribers | |
| Letter to Prothonotary | PDF · Subscribers | |
| Notice of Motion | PDF · Subscribers | |
Second Order Approving Extension of Time to Make a Proposal
| PDF · Subscribers | |
Second Report of MNP
| PDF · Subscribers | |
Stalking Horse and Bidding Procedures Order
| PDF · Subscribers | |
| Affidavit of Jack Miner | PDF · Subscribers | |
| Andrew Rygh Affidavit | PDF · Subscribers | |
| Atlantic Crane Submission | PDF · Subscribers | |
BDC Submissions
| PDF · Subscribers | |
| BMO Submissions | PDF · Subscribers | |
| Draft Sale Approval Order | PDF · Subscribers | |
First Report of MNP
| PDF · Subscribers | |
Notice of Application
| PDF · Subscribers | |
Order Approving Extension of Time to Make a Proposal
| PDF · Subscribers | |
TD Bank Brief
| PDF · Subscribers | |
| Notice of Intention to Make a Proposal (NOI) | 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., “Atlantic Crane Group” (NOI), Supreme Court of Nova Scotia. Retrieved 4 November 2026, https://proceedings.ca/case/atlantic-crane-group