Columbia National Steel Products Inc. and Westud Steel Products Ltd. are in court-appointed receivership in the Supreme Court of British Columbia, commenced March 4, 2026 under court file S-260413. Bank of Montreal is identified as the Debtors' principal secured creditor and senior secured lender, and will suffer a significant shortfall on its secured indebtedness from the CGC Transaction. Royal Bank of Canada asserts a security interest competing with BMO's in the Disputed Samco Assets, being two Samco roll forming machines, and possibly in the Hyundai Forklift and the Nissan Forklift, against Westud Steel Products Ltd. and/or Lifetec Construction Group Inc. The Receivers have not yet determined the entitlement or extent of RBC's security interest.
The court granted an approval and vesting order for the sale to CGC Inc. Closing terms, as extracted: Vacant possession of the Purchased Assets shall be delivered by the Receiver to the Purchaser at 12:00 noon on the Closing Date, and the Closing Date may be extended by consent of the Receiver and Purchaser without further Order. Sealed: the Receiver's Confidential Supplement to the Second Report and the Sale Agreement appended thereto.
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.
Sale processAs stated in the filings
Approval pending — Receiver recommending Court approve the CGC Transaction following evaluation of offers receivedReceiver's Second Report · 25 Jun 2026
Closing termsVacant possession of the Purchased Assets shall be delivered by the Receiver to the Purchaser at 12:00 noon on the Closing Date, and the Closing Date may be extended by consent of the Receiver and Purchaser without further OrderOrder Made After Application ( Approval and Vesting Order)
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.
Order Made After Application ( Approval and Vesting Order)
Closing termsVacant possession of the Purchased Assets shall be delivered by the Receiver to the Purchaser at 12:00 noon on the Closing Date, and the Closing Date may be extended by consent of the Receiver and Purchaser without further Order
Order date9 July 2026
PurchaserCGC Inc. · the Purchased Assets described in the Sale Agreement and listed on Schedule "C" hereto · asset sale · approved
Sealed itemsthe Receiver's Confidential Supplement to the Second Report and the Sale Agreement appended thereto
Sale outcomeSale process approved — The Debtors' Receiver is soliciting offers for the Debtors' Property under a formal sale process with Lots, timelines, and qualification criteria.
Sale advisorDeloitte Restructuring Inc. (sale agent)
Sale outcomeSale process approved — The Receiver is seeking the Court's approval of the Sale Process and has undertaken several steps to date in coordination with the LifeTec Receiver.
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Columbia National Steel Products Inc., and Westud Steel Products Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/columbia-national-steel-products-inc-and-westud-steel-products-ltd
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/columbia-national-steel-products-inc-and-westud-steel-products-ltd
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.