CNS Iron Fabrication Ltd.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-22-00680668-00CL
- Industry
- Manufacturing · Metals & fabrication
CNS Iron Fabrication Ltd. is in court-appointed receivership before the Ontario Superior Court of Justice (file no. CV-22-00680668-00CL), ordered May 13, 2022 on the application of Royal Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, with MNP Ltd. appointed receiver over CNS Iron Fabrication Ltd. and Claeys Family Holdings Inc. together. At appointment, the receiver valued the companies' accounts receivable at $1,107,146, with inventory and machinery and equipment values unknown. Royal Bank of Canada held an estimated $5,050,000 as priority secured creditor, and Salvatore Cartelli and Congetta Bove held estimated security of $750,000. A revised creditor schedule dated May 25, 2022 listed more than 90 other creditors, led by Claeys Family Holdings itself at $450,000, Kimko Steel Sales Ltd. at $250,718, Crawford Metal at $158,493, and the Canada Revenue Agency's deemed trust claim of $63,629.
The officer filed report no. First Report. The Receiver operated CNS's business for a short period after its appointment, focusing on completing near-finished 'Priority WIP' orders funded by receivable collections, before ceasing operations on June 10, 2022; SP Steel has since operated the business under an Operating Agreement pending completion of the proposed asset sale.
The Ontario Superior Court of Justice issued a receivership order for CNS Iron Fabrication Ltd. and Claeys Family Holdings Inc. dated May 13, 2022, appointing MNP Ltd. receiver.
Source: Appointing Order
Debtor
CNS Iron Fabrication Ltd.
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Penny | Ontario Superior Court of Justice | 2 orders, Jul 2022 | 196 cases on record |
| Justice Gilmore | Ontario Superior Court of Justice | 2 orders, May 2022 | 68 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantRoyal Bank of Canada | Harrison Pensa LLP | 13 May 2022 | Order · 13 May 2022 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 584 casesas of Receiver appointment (May 13, 2022) — Priority secured creditor; application for receivership order brought by RBC; estimated amount owed — debtor: CNS Iron Fabrication Ltd. and Claeys Family Holdings Inc. | $5.05M | Receivers 245 Notice AMENDED |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
93 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansRBC: shortfall.EstimatedReceiver’s First Court Report · 30 Jun 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | RBC | — | shortfallconditional | Estimatedper the receiver | Receiver’s First Court Report · 30 Jun 2022 |
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 ·
Cumulative receipts
$854K
As at 30 Jun 2022Receiver’s First Court Report dated June 30, 2022
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and 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 |
|---|---|---|
Endorsement of Justice Penny dated July 8, 2022
| PDF · Subscribers | |
Order of Justice Penny dated July 8, 2022
| PDF · Subscribers | |
Receiver’s First Court Report dated June 30, 2022
| PDF · Subscribers | |
Receivers 245 Notice AMENDED
| PDF · Subscribers | |
Appointing Order
| PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
CNS Proposed Receiver Report
| PDF · Subscribers | |
Application Record
| 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., “CNS Iron Fabrication Ltd.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/cns-iron-fabrication-ltd