Cover Industries Inc.
- Proceeding
- NOISection 50.4(9) of the Bankruptcy and Insolvency Act
- Court
- Superior Court of Québec · Commercial Division
- File
- 500-11-049142-157
- Industry
- Manufacturing · Building products
Cover Industries Inc. is the subject of a bankruptcy proceeding under the Bankruptcy and Insolvency Act before the Superior Court of Québec (Commercial Division), carried under court file number 500-11-049142-157. The proceeding was commenced on July 16, 2015, on an application filed that day, and remains active on the record. Beyond the commencement of the proceeding, the record before this page contains no further dated steps: no subsequent orders, reports or hearings have been entered. Creditors and counsel following the file should treat the July 16, 2015 commencement as the last recorded milestone in Quebec.
A claims procedure has been established — see the order for deadlines.
Per the Amended Order Establishing a Claims Process dated 17 December 2015.
List of Accepted Claims (or Temporarily Accepted Claims for Voting Purposes) — List of creditors
The officer filed a report. The Company ceased all operations and laid off remaining employees in April 2015 due to cash shortage, then conducted a structured sale process for substantially all of its assets, completed by the report date, and now holds only cash proceeds pending distribution under the Proposal.
Rectified Order on the Order to Authorize the Sale of Assets of August 26, 2015 was filed.
Source: Rectified Order on the Order to Authorize the Sale of Assets of August 26, 2015
Order Approving the Fourth Extension to January 16, 2016 was filed.
Source: Order Approving the Fourth Extension to January 16, 2016
Motion for the Issuance of an Order for a Fourth Extension of the Stay Period — Application / notice of application
Order Approving the Third Extension to December 23, 2015 was filed.
Source: Order Approving the Third Extension to December 23, 2015
Motion for the Issuance of an Order for a Third Extension of the Stay Period — Application / notice of application
Order Approving the Sale of Certain Assets Purged of any Security, Charge or Restriction was filed.
Source: Order Approving the Sale of Certain Assets Purged of any Security, Charge or Restriction
Motion for Authorization to Sell Certain Assets Purged of any Security, Charge or Restriction — Application / notice of application
Order Approving the Second Extension to November 11, 2015 was filed.
Source: Order Approving the Second Extension to November 11, 2015
Motion for the Issuance of an Order for a Second Extension of the Stay Period — Application / notice of application
The court granted an approval and vesting order for the sale to Novatech Group Inc. Closing terms, as extracted: Vesting occurs upon issuance of the Trustee's Certificate confirming conditions satisfied, closing occurred, and Purchase Price paid. Sealed: Asset Purchase Agreement.
Source: Order Approving the Sale of Assets and Vesting Order
Motion for the Issuance of an Order Approving the Sale of Assets and a Vesting Order — Application / notice of application
Motion for the Issuance of an Rectified Order to Authorize the Sale of Assets (see Motion dated August 25, 2015) — Application / notice of application
Order Approving the First Extension to September 27, 2015 was filed.
Source: Order Approving the First Extension to September 27, 2015
Motion for the Issuance of an Order Extending the Stay Period — Application / notice of application
Motion for the Issuance of an Order Approving an Interim Financing and Priority Charges — Application / notice of application
Debtor
Cover Industries Inc.
Proposal trustee
Deloitte
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Registrar Bégin | Superior Court of Québec | 1 order, Aug 2015 | 18 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorCover Industries Inc. | Stikeman Elliott LLP | 17 Sep 2015 | Order · 17 Sep 2015 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Ministre du Revenu du Québec (DAS) · in 15 casesacceptance provisoire (note 1); deemed trust / regulatory - Revenu Québec claim — debtor: Industries Cover Inc. · as of 26 Jan 2016 | $216K | List of Accepted Claims (or Temporarily Accepted Claims for Voting Purposes) |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
102 more claims in 1 class The stack holds Deemed trusts (CRA and other) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans3 transactions · 2 closed · 1 approved — Le tableau ci-dessous illustre les résultats du processus de vente mené par la SociétéNotice of Proposal to Creditors, Proposal and Trustee Report of the… · 22 Jan 2016
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 9309-2286 Québec Inc.Cover's shares in Thermos Rive-Nord Inc. · share sale | not stated | Closed13 Aug 2015 | Trustee's Report on the Sale of Certain Assets |
| Novatech Group Inc.Petitioner's assets described in the Asset Purchase Agreement (Exhibit R-1) (the "Purchased Assets") · asset sale · agreement 20 Aug 2015 | Subscribers | Closed | Order Approving the Sale of Assets and Vesting… |
| André Degrace and Maurice GauvinPetitioner's shares in Vitrerie Novy Glass Ltd. · share sale | not stated | Approved8 Oct 2015 | Order Approving the Sale of Certain Assets… |
Unsecured creditors: a distribution.Under the planMotion for the Approval of a Proposal · 22 Jan 2016
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the planper the trustee | Motion for the Approval of a Proposal · 22 Jan 2016 |
| Secured | — | — | paid in full | Under the planper the trustee | Motion for the Approval of a Proposal · 22 Jan 2016 |
| Preferred | — | — | paid in full | Under the planper the trustee | Motion for the Approval of a Proposal · 22 Jan 2016 |
| Unsecured | Unsecured Creditors with claims above $10k (Proposal scenario) | — | conditional | Under the planper the trustee | Motion for the Approval of a Proposal · 22 Jan 2016 |
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.
1 blurred figure 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 plansAs at ·
Cash on hand
$7.15M
As at 15 Jan 2016Notice of Proposal to Creditors, Proposal and Trustee Report of the Insolvent Person's Business and Financial Affairs
The 2 totals 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 |
|---|---|---|
| Notice of Application for Discharge of Trustee | PDF · Subscribers | |
| Order on the Motion for the Appproval of a Proposal | PDF · Subscribers | |
| Notice of Hearing of Application for Court Approval of Proposal | PDF · Subscribers | |
Motion for the Approval of a Proposal
| PDF · Subscribers | |
List of Accepted Claims (or Temporarily Accepted Claims for Voting Purposes)
| PDF · Subscribers | |
Notice of Proposal to Creditors, Proposal and Trustee Report of the Insolvent Person's Business and Financial Affairs
| PDF · Subscribers | |
Amended Order Establishing a Claims Process
| PDF · Subscribers | |
Order Approving the Fourth Extension to January 16, 2016
| PDF · Subscribers | |
| Trustee's Fourth Report on the State of Affairs | PDF · Subscribers | |
| Motion for the Issuance of an Order for a Fourth Extension of the Stay Period | PDF · Subscribers | |
Order Approving the Third Extension to December 23, 2015
| PDF · Subscribers | |
| Trustee's Third Report on the State of Affairs | PDF · Subscribers | |
| Motion for the Issuance of an Order for a Third Extension of the Stay Period | PDF · Subscribers | |
Order Approving the Sale of Certain Assets Purged of any Security, Charge or Restriction
| PDF · Subscribers | |
| Motion for Authorization to Sell Certain Assets Purged of any Security, Charge or Restriction | PDF · Subscribers | |
Order Approving the Second Extension to November 11, 2015
| PDF · Subscribers | |
| Notice of an Order Establishing a Claims Process | PDF · Subscribers | |
| Trustee's Second Report on the State of Affairs | PDF · Subscribers | |
| Motion for the Issuance of an Order for a Second Extension of the Stay Period | PDF · Subscribers | |
Order Establishing a Claims Process
| PDF · Subscribers | |
| Motion and Directives for a Claims Process | PDF · Subscribers | |
Order Approving the Sale of Assets and Vesting Order
| PDF · Subscribers | |
Rectified Order on the Order to Authorize the Sale of Assets of August 26, 2015
| PDF · Subscribers | |
| Motion for the Issuance of an Order Approving the Sale of Assets and a Vesting Order | PDF · Subscribers | |
| Motion for the Issuance of an Rectified Order to Authorize the Sale of Assets (see Motion dated August 25, 2015) | PDF · Subscribers | |
Trustee's Report on the Sale of Certain Assets
| PDF · Subscribers | |
| Notice to Creditors for an extension | PDF · Subscribers | |
Order Approving the First Extension to September 27, 2015
| PDF · Subscribers | |
Trustee's Amended Report on the Sale of Certain Assets
| PDF · Subscribers | |
Trustee's First Report on the State of Affairs
| PDF · Subscribers | |
Motion for the Issuance of an Order Extending the Stay Period
| PDF · Subscribers | |
| Order Approving an Interim Financing and Priority Charges | PDF · Subscribers | |
Motion for the Issuance of an Order Approving an Interim Financing and Priority Charges
| PDF · Subscribers | |
| Notice of Intention to make a Proposal | PDF · Subscribers | |
Trustee Report on Cash Flow Statement and Cash Flow Statement
| 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., “Cover Industries Inc.” (NOI), Superior Court of Québec · Commercial Division. Retrieved 5 November 2026, https://proceedings.ca/case/cover-industries-inc