#Sale
The court granted an approval and vesting order for the sale to Bracebridge Generation Ltd. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment and satisfaction of closing conditions.
Bancroft Light & Power Company (2000) Limited
FollowActive
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the "BIA") and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended (the "CJA")
- File
- CV-12-9712-00CL
Filings held6
Last activity18 Jul 2012
On the record5,241 days
Secured debt$1.99M
OverviewSummary updated
Bancroft Light & Power Company (2000) Limited has been under court-appointed receivership in Ontario since May 16, 2012, when the Ontario Superior Court of Justice (Commercial List) appointed A. Farber & Partners Inc. as receiver on the application of Ontario Infrastructure and Lands Corporation, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The application put OILC's claim at approximately $1,994,749.41 as at May 2, 2012, plus interest and costs after that date, arising from credit facilities advanced primarily for capital expenditures on a hydro-electric upgrade. OILC's security comprised a general security agreement dated November 23, 2007 and a charge/mortgage over 37 Mill Street, Bancroft, Ontario, registered as instrument no. HT118483 dated February 6, 2012. The proceeding remains active under court file no. CV-12-9712-00CL.
Proceedings AIAsk this case — answers cite the filings
Case updates6 dated entries
#Order
Court placed the company in receivership on OILC's application, appointing A. Farber & Partners Inc. as receiver under s. 243(1) of the BIA and s. 101 of the CJA.
#Filing
Application filed in the Ontario Superior Court of Justice (Commercial List), commencing the proceeding under court file number CV12-9712-00CL.
Parties
Debtor
Bancroft Light & Power Company (2000) Limited
Receiver
GlassRatner
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Morawetz | Ontario Superior Court of Justice | 1 order, May 2012 | 130 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Fraser Milner Casgrain LLP (now Dentons Canada LLP) | 16 May 2012 | Order · 16 May 2012 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Ontario Infrastructure and Lands Corporation (OILC) · in 2 casesGeneral security agreement dated November 23, 2007; charge/mortgage of land over 37 Mill Street, Bancroft, Ontario registered as instrument no. HT118483 dated February 6, 2012 — Approximate amount stated in application ('approximately $1,994,749.41, plus interest and costs after such date'); credit facilities primarily for capital expenditures on hydro-electric upgrade — debtor: Bancroft Light and Power Company (2000) Limited · as of 2 May 2012 | $1.99M | Application Record dated May 16, 2012 |
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.
Sale processPer the transactions
Sale approvedApproval and Vesting Order dated July 18, 2012 · 18 Jul 2012
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Bracebridge Generation Ltd.the assets of the Debtor as described in the Bracebridge APA (the "Purchased Assets") · asset sale · agreement 27 Jun 2012 | not stated | Approved18 Jul 2012 | Approval and Vesting Order dated July 18, 2012 |
Closing termsVesting effective upon delivery of Receiver's Certificate confirming payment and satisfaction of closing conditionsApproval and Vesting Order dated July 18, 2012
Documents6 filings
| Date | Document | File |
|---|---|---|
Approval and Vesting Order dated July 18, 2012
| ||
| Endorsement dated May 24, 2012 | ||
| Order Approving Sales Process dated May 24, 2012 | ||
Application Record dated May 16, 2012
| ||
Appointment Order dated May 16, 2012
| ||
| Endorsement dated May 16, 2012 | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Bancroft Light & Power Company (2000) Limited” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/bancroft-light-power-company-2000-limited