Canadian Industrial Distributors Inc. is the subject of a Division I proposal under the Bankruptcy and Insolvency Act, commenced on April 30, 2015 in the Ontario Superior Court of Justice (court file 32-158796). Among its unsecured creditors, TEAMCID Inc. holds the largest claim at CAD 1,905,300, followed by Senco Brands Inc. (China) at CAD 641,179.62 and Max USA Corp. at CAD 243,697.69. CO Sissel Fastening Limited is listed for two note payables of CAD 200,000 each, and Dow Chemical Canada Inc. at CAD 63,123.51. TEAMCID Inc. is also listed as a secured creditor. The proposal is active.
A claims procedure has been established — see the order for deadlines.
The officer filed a report. The Company's business and assets were sold pursuant to a court-approved asset purchase agreement, and proceeds were distributed to the first secured creditor and certain priority creditors; the estate now holds no operating assets, only a promissory note receivable from the purchaser.
The court granted an approval and vesting order for the sale to CID Bissett Fasteners Limited and Lance Bissett Limited. Closing terms, as extracted: Vesting occurs upon delivery of the Proposal Trustee's Certificate confirming satisfaction of the Purchase Price and closing conditions.
Debtor
Canadian Industrial Distributors Inc.
Proposal trustee
Fuller Landau
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice McEwen | Ontario Superior Court of Justice | 4 orders, Mar 2015 – May 2015 | 143 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorCanadian Industrial Distributors Inc. | Thompson, MacColl & Stacy LLP · Aird & Berlis LLP · Pallett Valo LLP | 24 Mar 2015 | Order · 11 May 2015 |
| CreditorbcIMC Realty Corporation | Blaney McMurtry LLP | 24 Mar 2015 | Service list · 24 Mar 2015 |
| CreditorMAX USA Corp | Blaney McMurtry LLP | 24 Mar 2015 | Service list · 24 Mar 2015 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | TEAMCID Inc.Estimated amount of claim listed as security; particulars of security and when given not stated on page — Listed on List 'B' Secured Creditors; amount field blank/illegible — debtor: Canadian Industrial Distributors Inc | — | Statement of Affairs |
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
124 more claims in 2 classes The stack holds Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Sale closed — Company's assets were sold pursuant to the court approved APAReport to the First Meeting of Creditors · 14 Jul 2015
| Purchaser | Price | Status | Source |
|---|---|---|---|
| CID Bissett Fasteners Limited and Lance Bissett Limitedthe Purchased Assets (as defined in the APA) · asset sale · agreement 28 Apr 2015 | Subscribers | Closed25 May 2015 | Report to the First Meeting of Creditors |
Preferred creditors: no distribution. Team CID short.EstimatedReport to the First Meeting of Creditors · 14 Jul 2015
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Team CID | — | shortfall | Estimatedper the trustee | Report to the First Meeting of Creditors · 14 Jul 2015 |
| Preferred | — | — | no distribution | Estimatedper the trustee | Report to the First Meeting of Creditors · 14 Jul 2015 |
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.
5 engagements · 4 firms — latest: Aird & Berlis LLP, 15 Apr – 23 Apr 2015, Second Report of the Proposal Trustee dated April 30, 2015 - Part 2 · 30 Apr 2015
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Aird & Berlis LLPCounselperiod 2 of 2 | 15 Apr – 23 Apr 2015 | — | Second Report of the Proposal Trustee dated April 30, 2015 - Part 2 · 30 Apr 2015 | ||
| Aird & Berlis LLPCounselperiod 1 of 2 | — | — | — | Second Report of the Proposal Trustee dated April 30, 2015 - Part 1 · 30 Apr 2015 | |
| BDO Canada Limitedcapacity not stated | — | — | — | Second Report of the Proposal Trustee dated April 30, 2015 - Part 1 · 30 Apr 2015 | |
| TMSCounsel | — | — | — | Second Report of the Proposal Trustee dated April 30, 2015 - Part 1 · 30 Apr 2015 | |
| The Fuller Landau Group Inc.Proposal trustee | — | — | — | Second Report of the Proposal Trustee dated April 30, 2015 - Part 2 · 30 Apr 2015 |
6 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Report to the First Meeting of Creditors
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Statement of Affairs
| PDF · Subscribers | |
Certificate of Appointment
| PDF · Subscribers | |
Approval and Vesting Order dated May 11, 2015
| PDF · Subscribers | |
Endorsement of Justice McEwen dated May 11, 2015
| PDF · Subscribers | |
Order of Justice McEwen dated May 11, 2015
| PDF · Subscribers | |
Motion Record - Dated April 30, 2015
| PDF · Subscribers | |
Second Report of the Proposal Trustee dated April 30, 2015 - Part 1
| PDF · Subscribers | |
Second Report of the Proposal Trustee dated April 30, 2015 - Part 2
| PDF · Subscribers | |
Service List as at March 24, 2015
| PDF · Subscribers | |
Endorsement of Justice McEwen
| PDF · Subscribers | |
| Order of Justice McEwen | PDF · Subscribers | |
| First Report of the Proposal Trustee, Dated March 16, 2015 | PDF · Subscribers | |
Motion Record of CID, Dated March 16, 2015
| PDF · Subscribers | |
| NOI Notice to Creditors | PDF · Subscribers | |
| Proof of Claim | 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., “Canadian Industrial Distributors Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/canadian-industrial-distributors-inc
Sources last checked · summary updated 24 August 2026 · Report a correction · Printed from proceedings.ca/case/canadian-industrial-distributors-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.