Cancom Security Inc.
- Proceeding
- NOISection 50.4(1) of the Bankruptcy and Insolvency Act
- File
- BK-24-03162387-0031
Cancom Security Inc. filed a notice of intention to make a proposal under section 50.4 of the BIA on December 5, 2024 in Ontario, and remains under an extended stay running to February 18, 2025 by order dated December 31, 2024. The company reported approximately $5.8 million in liabilities, of which approximately $2 million is secured. TD Bank, its principal secured lender, had demanded payment of $1,346,965.39 on July 23, 2024 with a section 244 notice, then entered a forbearance agreement on September 18, 2024 acknowledging $1,970,194.14 owing as at September 17, 2024. The Canada Revenue Agency asserts roughly $2.8 million in HST deemed trust claims. A PPSA search dated December 18, 2024 shows eight secured creditors, the seven besides TD being equipment lenders or lessors, largely on employee vehicles.
A claims procedure has been established — see the order for deadlines.
Motion Record – Applicant was filed. Court file BK-24-03162387-0031.
Source: Motion Record – Applicant
Cancom Security Inc. — NOI filed, Ontario.
Source: Certificate – Notice of Intention to Make a Proposal
Undated filings3 — no date appears on the document · show
Debtor
Cancom Security Inc.
Proposal trustee
Dodick Landau
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 2 orders, Dec 2024 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorCancom Security Inc. | Reconstruct LLP | 31 Dec 2024 | Order · 31 Dec 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) · in 985 casesas of date of the NOI (2024-12-05) — Deemed trust class — HST obligations; stated as 'approximately $2.8 million' of the Company's approximately $3.8 million total unsecured creditors at the date of the NOI; CRA had proposed a payment plan prior to the NOI filing — debtor: Cancom Security Inc. | $2.8M | First Report to Court of the Proposal Trustee |
| 3 | Deemed trusts (CRA and other) | |||
| 4 | Secured | |||
| 5 | PMSI / lessors | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
63 more claims in 4 classes The stack holds Deemed trusts (CRA and other), Secured, PMSI / lessors and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.Under the plan · vote pendingAmended Proposal to Unsecured Creditors · 20 Mar 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | Preferred Creditors (other than Employee Preferred Claims) | — | paid in full | Under the planvote pendingper the debtor | Amended Proposal to Unsecured Creditors · 20 Mar 2025 |
| Unsecured | — | — | a distributionconditional | Under the planvote pendingper the debtor | Amended Proposal to Unsecured Creditors · 20 Mar 2025 |
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.
As at ·
The total 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 |
|---|---|---|
Amended Proposal to Unsecured Creditors
| PDF · Subscribers | |
Court Endorsement
| PDF · Subscribers | |
Court Order-stay-extension
| PDF · Subscribers | |
First Report to Court of the Proposal Trustee
| PDF · Subscribers | |
| Factum of the Applicant | PDF · Subscribers | |
Motion Record – Applicant
| PDF · Subscribers | |
Creditor Package – NOI
| PDF · Subscribers | |
Certificate – Notice of Intention to Make a Proposal
| PDF · Subscribers | |
| Proof of Claim Form | PDF · Subscribers | |
| Proxy Form | PDF · Subscribers | |
| Voting & Election Form | 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., “Cancom Security Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/cancom-security-inc