#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
ActiveFollow
- 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
- Industry
- Energy · Power & utilities
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 AIOpen Proceedings AI
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.
Parties
Debtor
Bancroft Light & Power Company (2000) Limited
Receiver
A. Farber & Partners
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 | 141 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 processAs stated in the filings
Sale process approved — Sales Process as defined and described at paragraph 12 of the First Report be and is hereby approvedOrder Approving Sales Process dated May 24, 2012 · 24 May 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
| PDF · Subscribers | |
| Endorsement dated May 24, 2012 | PDF · Subscribers | |
Order Approving Sales Process dated May 24, 2012
| PDF · Subscribers | |
Application Record dated May 16, 2012
| PDF · Subscribers | |
Appointment Order dated May 16, 2012
| PDF · Subscribers | |
| Endorsement dated May 16, 2012 | 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., “Bancroft Light & Power Company (2000) Limited” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/bancroft-light-power-company-2000-limited