Canadoil Forge Ltd.
- Proceeding
- Receivership (court-appointed)Section 243 of the Bankruptcy and Insolvency Act
- File
- 500-11-066105-251
- Industry
- Manufacturing · Metals & fabrication
Canadoil Forge Ltd. has been in receivership since October 15, 2025, when the Superior Court of Québec appointed FTI Consulting Canada Inc. as receiver under section 243 of the Bankruptcy and Insolvency Act on the application of Fiera Private Debt Fund VI LP and Fiera Private Debt Fund VII LP. A sale process drew three binding offers by the November 12, 2025 bid deadline. On February 24, 2026 the court approved two sales under agreements dated February 6, 2026: substantially all of Canadoil's property to Canadoil Fittings Inc. and the 5500 Facility in Bécancour to NMG Bécancour Inc. Both closed on March 20, 2026. On March 24, 2026 the Receiver repaid the interim financing and made an initial interim distribution of $4,701,279 to Fiera, and on July 10, 2026 it sought authority for a second interim distribution of $9.925 million to Fiera, owed approximately $28 million.
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.)
The officer filed report no. Fifth Report. Canadoil has ceased operating. The Receiver ran a sale and solicitation process that produced two all-cash asset purchase agreements, with Canadoil Fittings Inc. (Ezeflow) for substantially all assets and the Bécancour plant, and with NMG for the secondary facility. Both are pending court approval. The Receiver is paying former employees' priority wage claims and expects to make an assignment in bankruptcy once most assets are sold.
Source: Fifth Report
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
The officer filed report no. Fourth Report. The debtor currently has no operations; the interim receiver is safeguarding the assets and, if appointed receiver, FTI intends only to keep them in care and maintenance mode while running a two-phase sale solicitation process, not to relaunch operations.
Source: Fourth Report
Guide
What happens to employees when a company goes bankrupt in Canada
When a Canadian employer goes bankrupt or into creditor protection, its workers are owed pay it cannot meet. What ranks first, what the Wage Earner Protection Program pays and how to apply, and what happens to severance, pensions, benefits and jobs when the business is sold, drawn from the court record.
Outcome brief
Canadoil Forge: wages before fees, then two sales for $18.67 million
RBC and Fiera brought competing motions over the Bécancour pipe-fittings maker before Justice Luc Morin appointed FTI receiver, refused Fiera's $650,000 interim financing and ranked the fee charge behind the employees' wage priority. Two sales brought in $18.67 million combined, and on August 7, 2026, the receiver certified complete a distribution that included $9.925 million for Fiera.
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 41 casesDeemed trust claim for employee source deductions. — debtor: Canadoil Forge Ltd. | $509K | Sixth report |
| 3 | Deemed trusts (CRA and other) | |||
| 4 | Secured | |||
| 4 | Secured |
3 more claims in 2 classes The stack holds Deemed trusts (CRA and other) and Secured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis 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.
3 transactions · 2 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 | Subscribers | Proposed | Fifth Report |
| Canadoil Fittings Inc.les Actifs achetés décrits à l'annexe A de l'Ordonnance · asset sale · agreement 6 Feb 2026 | Subscribers | Closed20 Mar 2026 | Sixth report |
| NMG Bécancour Inc.la Propriété achetée · asset sale · agreement 6 Feb 2026 | Sealed | Closed20 Mar 2026 | Sixth report |
Preferred creditors: a distribution. Revenu Québec a distribution · Fiera a distribution.Sixth report · 10 Jul 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Revenu Québec | — | per the receiver | Sixth report · 10 Jul 2026 | |
| Secured | Fiera | — | interim | Finalper the receiver | Sixth report · 10 Jul 2026 |
| Preferred | Fonds de Solidarité FTQ and Industrielle Alliance (RRSP contributions, priority claim under s. 81.6) | — | 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.
3 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansCumulative receipts
$1.43M
As at 13 Feb 2026Fifth Report
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Interim distribution certificate | PDF · Subscribers | |
Interim distribution order
| PDF · Subscribers | |
Sixth report
| PDF · Subscribers | |
| Certificat du séquestre (NMG Bécancour inc.) | PDF · Subscribers | |
| Certificat du séquestre (Raccord Canadoil inc) | PDF · Subscribers | |
Canadoil Forge Ltd. - NOTICE OF BANKRUPTCY AND FIRST MEETING OF CREDITORS
| PDF · Subscribers | |
Canadoil Forge Ltée. - AVIS DE LA FAILLITE ET DE LA PREMIÈRE ASSEMBLÉE DES CRÉANCIERS
| PDF · Subscribers | |
| Certificat de nomination | PDF · Subscribers | |
Ordonnance confirmant la taxation des comptes et la libération du séquestre intérimaire
| PDF · Subscribers | |
Ordonnance d'approbation et de dévolution (NMG Bécancourt inc.)
| PDF · Subscribers | |
Ordonnance d'approbation et de dévolution (Raccord Canadoil inc.)
| PDF · Subscribers | |
| Application for the Issuance of Approval and Vesting Orders | PDF · Subscribers | |
Fifth Report
| PDF · Subscribers | |
| Avis de la demande de taxation des comptes et de libération du séquestre intérimaire | PDF · Subscribers | |
Notice of application for taxation of accounts and discharge of interim receiver
| PDF · Subscribers | |
| Avis de contestation | PDF · Subscribers | |
| Property Claim | PDF · Subscribers | |
| Réclamation de biens | PDF · Subscribers | |
Avis aux créanciers
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Canadoil Forge Ltd. - Teaser
| PDF · Subscribers | |
SSP Procedures - Term Sheet (Canadoil Forge Ltd.)
| PDF · Subscribers | |
Court Order appointing FTI Consulting as the Receiver of Canadoil Forge Ltd / Ordonnance nommant FTI Consulting à titre de séquestre de Canadoil Forge Ltd
| PDF · Subscribers | |
Application for the Appointment of Receiver
| PDF · Subscribers | |
Fourth Report
| PDF · Subscribers | |
Third Report
| PDF · Subscribers | |
| Second Report | PDF · Subscribers | |
Interim Receiver's Report
| 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., “Canadoil Forge Ltd.” (Receivership (court-appointed)), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/canadoil-forge-ltd