Axe Fire Protection and Contracting Inc.

Closed

Proceeding: Bankruptcysection 49 of the Bankruptcy and Insolvency Act
Court: Court of King's Bench of Alberta
File: 24-2967312

Filings held4

Last activity17 Mar 2025

On the record1,159 days

Secured debt$700K

OverviewSummary updated 9 August 2026

Axe Fire Protection and Contracting Inc. is the subject of an active bankruptcy proceeding under the Bankruptcy and Insolvency Act, commenced March 17, 2025 in the Court of King's Bench of Alberta under court file number 24-2967312. The proceeding began the same day with an interim order. The record discloses no further steps, and the case remains open.

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Case updates4 dated entries

17 Mar 2025

#Order

An interim order granted this date opened the bankruptcy proceeding in the Court of King's Bench of Alberta under file number 24-2967312.

Source: Order Discharging Trustee

9 Aug 2023

#Report

Trustee's Report to Creditors — Court officer report

PDF

24 Jul 2023

#Claims

First Meeting of Creditors Package — Meeting materials

PDF

20 Jul 2023

#Report

The officer filed a report. Court file 24-2967312.

Source: Certificate of Appointment

Parties

Debtor

Axe Fire Protection and Contracting Inc.

Trustee in bankruptcy

MNP

Capital structureAs asserted in the filings

stated amounts, drawn to scale · 1 named without a figure

#	Priority class	Creditor	Amount	Source
3	Deemed trusts (CRA and other)	Canada Revenue Agency (CRA) · in 926 casesDeemed trust priority claim over source deductions, ranking ahead of other secured claims — Amounts owing to CRA for unpaid source deductions and GST indicated in books and records but not quantified; deemed trust class; CRA had not filed a proof of claim as of report date. — debtor: Axe Fire Protection and Contracting Inc.	—	Trustee's Report to Creditors
4	Secured	TD Canada Trust · in 55 casesSecurity registration in the Personal Property Registry (PPR); secured line of credit and secured term loan — Trustee confirms PPR registration; TD had not filed a proof of claim as of report date. Approximate current balance stated as $700,000 (prose approximation); balance sheet showed bank indebtedness of $545,000 as at Oct. 31, 2022 (Table 2) and a portion of 'Loan payable' also secured by TD. — debtor: Axe Fire Protection and Contracting Inc. · as of 9 Aug 2023	$700K	Trustee's Report to Creditors
8	Unsecured	Unsecured creditors (aggregate as reported) · in 532 casesAggregate covers all 47 unsecured creditors; the six 'major' unsecured creditors itemized in Table 3 (totalling $1,209,000) are a subset of this aggregate. Statement of Affairs as at July 19, 2023 also shows total unsecured creditors of $1,405,000 (rounded, in 000's). — debtor: Axe Fire Protection and Contracting Inc. · as of 9 Aug 2023	$1.41M	Trustee's Report to Creditors
8	Unsecured	Salim ChampsiPossible related party (shares surname with director Al-Amyn Champsi); not identified as director but likely family member. — debtor: Axe Fire Protection and Contracting Inc.	$659K	Trustee's Report to Creditors
8	Unsecured	Rotaflow Controls Incdebtor: Axe Fire Protection and Contracting Inc.	$147K	Trustee's Report to Creditors
8	Unsecured	Karim ChampsiPossible related party (shares surname with director Al-Amyn Champsi). — debtor: Axe Fire Protection and Contracting Inc.	$144K	Trustee's Report to Creditors
8	Unsecured	Powerlink Electical Ltd.debtor: Axe Fire Protection and Contracting Inc.	$111K	Trustee's Report to Creditors
8	Unsecured	Aly-Amyn ChampsiRelated party - appears to be the Company's director (referred to elsewhere as Al-Amyn Champsi). — debtor: Axe Fire Protection and Contracting Inc.	$81K	Trustee's Report to Creditors
8	Unsecured	Business Development Bank of Canada (BDC) · in 241 casesCorresponds to the unsecured loan from BDC referenced in the 'Loan payable' balance sheet line (Table 2/page 3). — debtor: Axe Fire Protection and Contracting Inc.	$67K	Trustee's Report to Creditors

“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

RecoveriesAs stated in the filings

Unsecured creditors: no distribution. TD short.EstimatedTrustee's Report to Creditors · 9 Aug 2023

Class	Creditor	Claims	Recovery	Basis	Source
Secured	TD	—	shortfall	Estimatedper the trustee	Trustee's Report to Creditors · 9 Aug 2023
Unsecured	—	—	no distribution	Estimatedper the trustee	Trustee's Report to Creditors · 9 Aug 2023

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.

Estate financialsReported figures — never derived

Total assets at filing$2.42M

Total liabilities at filing$1.49M

As at 31 Oct 2022 · per Notice to reader financial statements compiled by an independent, external accountant · Axe Fire Protection and Contracting Inc. (entity-level) — Total liabilities figure of $1,492,222 is a stated subtotal in the balance sheet (current liabilities of $1,025,145 plus advances from shareholders of $467,077). Shareholders' equity (deficit) shown separately as $923,852. A later, closer-to-filing Statement of Affairs (as at July 19, 2023) shows total assets of $1,079,000 and separately states total secured creditors of $700,000 and total unsecured creditors of $1,405,000, but does not present a combined total liabilities figure.

Documents4 filings

Date	Document	File
17 Mar 2025	Order Discharging Trustee Commencement date 17 March 2025 Court COURT OF KING’S BENCH OF ALBERTA Court file no 24-2967312	PDF

9 Aug 2023	Trustee's Report to Creditors Financial position Assets $2.42M · Liabilities $1.49M · as at 31 Oct 2022 · per Notice to reader financial statements compiled by an independent, external accountant · Axe Fire Protection and Contracting Inc. (entity-level) — Total liabilities figure of $1,492,222 is a stated subtotal in the balance sheet (current liabilities of $1,025,145 plus advances from shareholders of $467,077). Shareholders' equity (deficit) shown separately as $923,852. A later, closer-to-filing Statement of Affairs (as at July 19, 2023) shows total assets of $1,079,000 and separately states total secured creditors of $700,000 and total unsecured creditors of $1,405,000, but does not present a combined total liabilities figure. Proceeding type bia_bankruptcy Recovery outcome Entries: per estimated; per estimated · Stated on: 2023-08-09 · Table missing: Secured creditors $700K · Note: Trustee confirms PPR registration; TD had not filed a proof of claim as of report date. Approximate current balance stated as $700,000 (prose approximation); balance sheet showed bank indebtedness of $545,000 as at Oct. 31, 2022 (Table 2) and a portion of 'Loan payable' also secured by TD. · Page: 4 · As of: 2023-08-09 · Debtor: Axe Fire Protection and Contracting Inc. · Creditor: TD Canada Trust · Security: Security registration in the Personal Property Registry (PPR); secured line of credit and secured term loan + 1 more extracted fact	PDF

24 Jul 2023	First Meeting of Creditors Package	PDF

20 Jul 2023	Certificate of Appointment Appointee MNP LTD / MNP LTÉE Appointee role trustee Commencement date 20 July 2023 Court file no 24-2967312 + 1 more extracted fact	PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Axe Fire Protection and Contracting Inc.” (Bankruptcy), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/axe-fire-protection-and-contracting-inc