Canadoil Forge Ltd.
Follow- Proceeding
- Receivership (court-appointed)Rule 79 of the Bankruptcy and Insolvency Act
- File
- 500-11-066105-251
Canadoil Forge Ltd. has been under court-appointed receivership in Quebec since October 16, 2025, under section 243 of the Bankruptcy and Insolvency Act, and the proceeding remains active. Its secured lenders, Fiera Private Debt Fund VI LP and Fiera Private Debt Fund VII LP, were owed approximately $28 million as of July 10, 2026 under various credit agreements, subject to adjustment, interest and fees; the same lenders provided court-approved interim financing. Revenu Québec asserts a deemed trust claim of $508,743.95 for employee source deductions, and the Canada Revenue Agency asserts a deemed trust claim on the same basis in an amount still under the Receiver's review. A settlement was reached on July 16, 2026 with Électricité & Contrôle J. Labonté Inc. concerning its construction legal hypothec.
A claims procedure has been established — see the order for deadlines.
Canadoil Forge Ltd. - NOTICE OF BANKRUPTCY AND FIRST MEETING OF CREDITORS — Notice to creditors
Canadoil Forge Ltée. - AVIS DE LA FAILLITE ET DE LA PREMIÈRE ASSEMBLÉE DES CRÉANCIERS — Notice to creditors
The court granted an approval and vesting order for the sale to NMG Bécancour Inc. Closing terms, as extracted: Vesting occurs upon issuance of the Receiver's Certificate confirming the agreement was executed, the purchase price was delivered, and closing conditions were satisfied or waived. Sealed: Convention d'achat et Annexes A et B du Rapport.
Source: Ordonnance d'approbation et de dévolution (NMG Bécancourt inc.)
The court granted an approval and vesting order. Closing terms, as extracted: Dévolution sur émission d'un certificat du Séquestre confirmant signature de la Convention d'achat, paiement du Prix d'achat, et satisfaction ou renonciation des conditions de clôture.
Source: Ordonnance d'approbation et de dévolution (Raccord Canadoil inc.)
Ordonnance confirmant la taxation des comptes et la libération du séquestre intérimaire — Discharge order
Avis de la demande de taxation des comptes et de libération du séquestre intérimaire — Notice of hearing
Notice of application for taxation of accounts and discharge of interim receiver was filed. Court file 500-11-066105-251.
Source: Notice of application for taxation of accounts and discharge of interim receiver
Debtor
Canadoil Forge Ltd.
Applicant
Fiera Private Debt Funds VI and VII
Receiver
FTI
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Revenu Québec · in 37 casesDeemed trust claim for employee source deductions. — debtor: Canadoil Forge Ltd. | $509K | Sixth report |
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesDeemed trust claim for employee source deductions; amount still subject to the Receiver's review, precise figure not stated. — debtor: Canadoil Forge Ltd. | — | Sixth report |
| 4 | Secured | Fiera Private Debt Fund VI LP and Fiera Private Debt Fund VII LPVarious credit agreements (secured lender; also provided court-approved interim financing) — Stated as 'approximately $28 million ... subject to adjustment, interest and fees'; prose approximation, no exact dated balance provided. — debtor: Canadoil Forge Ltd. · as of 10 Jul 2026 | $28M | Sixth report |
| 4 | Secured | Électricité & Contrôle J. Labonté Inc.Construction legal hypothec — Settlement reached July 16, 2026 regarding the construction legal hypothec; settlement amount not disclosed in this excerpt. — debtor: Canadoil Forge Ltd. · as of 16 Jul 2026 | — | Sixth report |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
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.
4 transactions · 3 closed · 1 proposed — the transaction with Canadoil Fittings Inc. and NMG Bécancour Inc.Sixth report · 21 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Nouveau Monde Graphite inc.Canadoil's secondary facility located at 5500, Marie-Louise-Levasseur Street, Bécancour, Québec (the '5500 Facility') · real property · agreement 6 Feb 2026 | Sealedpurchase price subject to adjustment for property taxes and other levies | Proposed | Fifth Report |
| NMG Bécancour Inc.la Propriété achetée · asset sale · agreement 6 Feb 2026 | Sealed | Closed | Ordonnance d'approbation et de dévolution (NMG… |
| Canadoil Fittings Inc.substantially all of the Property of Canadoil · asset sale · agreement 6 Feb 2026 | Sealedall-cash transaction with no deferred compensation | Closed | Sixth report |
| unnamedcompletion of their sale | not stated | Closed20 Mar 2026 | Sixth report |
Preferred creditors: $56.2K. Revenu Québec $509K · Fiera $4.7M.Sixth report · 10 Jul 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Revenu Québec | — | $509K | per the receiver | Sixth report · 10 Jul 2026 |
| Secured | Fiera | — | $4.7Minterim | Finalper the receiver | Sixth report · 10 Jul 2026 |
| Preferred | Fonds de Solidarité FTQ and Industrielle Alliance (RRSP contributions, priority claim under s. 81.6) | — | $56.2K | per the receiver | Sixth report · 10 Jul 2026 |
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.
| Date | Document | File |
|---|---|---|
| Interim distribution certificate | ||
Interim distribution order
| ||
Sixth report
| ||
| Certificat du séquestre (NMG Bécancour inc.) | ||
| Certificat du séquestre (Raccord Canadoil inc) | ||
| Canadoil Forge Ltd. - NOTICE OF BANKRUPTCY AND FIRST MEETING OF CREDITORS | ||
| Canadoil Forge Ltée. - AVIS DE LA FAILLITE ET DE LA PREMIÈRE ASSEMBLÉE DES CRÉANCIERS | ||
| Certificat de nomination | ||
Ordonnance confirmant la taxation des comptes et la libération du séquestre intérimaire
| ||
Ordonnance d'approbation et de dévolution (NMG Bécancourt inc.)
| ||
Ordonnance d'approbation et de dévolution (Raccord Canadoil inc.)
| ||
| Application for the Issuance of Approval and Vesting Orders | ||
Fifth Report
| ||
| Avis de la demande de taxation des comptes et de libération du séquestre intérimaire | ||
Notice of application for taxation of accounts and discharge of interim receiver
| ||
| Avis de contestation | ||
| Property Claim | ||
| Réclamation de biens | ||
| Avis aux créanciers | ||
| Notice to Creditors | ||
Canadoil Forge Ltd. - Teaser
| ||
SSP Procedures - Term Sheet (Canadoil Forge Ltd.)
| ||
| Court Order appointing FTI Consulting as the Receiver of Canadoil Forge Ltd / Ordonnance nommant FTI Consulting à titre de séquestre de Canadoil Forge Ltd | ||
Application for the Appointment of Receiver
| ||
Fourth Report
| ||
| Third Report | ||
| Second Report | ||
Interim Receiver's Report
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Canadoil Forge Ltd.” (Receivership (court-appointed)), Superior Court of Québec. Retrieved 20 September 2026, https://proceedings.ca/case/canadoil-forge-ltd