Drexler Construction Limited, Folmur Construction (2004) Ltd. and Down Under Pipe and Cable Locating Ltd.

16 Dec 2022

#Order

Order of Justice Tranquilli dated December 16, 2022 — Order (other)

8 Dec 2022

#Report

Sixth Report of the Proposal Trustee dated December 8, 2022 (for motion returnable December 16, 2022) — Court officer report

7 Dec 2022

#Filing

Factum of the Companies (for motion returnable December 16, 2022) — Factum / brief

7 Dec 2022

#Filing

Motion Record of the Companies (returnable December 16, 2022) — Application / notice of application

29 Apr 2022

#Order

Endorsement of Justice Tranquilli dated April 29, 2022 — Endorsement / reasons

29 Apr 2022

#Order

Order of Justice Tranquilli dated April 29, 2022 — Order (other)

26 Apr 2022

#Filing

Factum of the Companies (for motion returnable April 29, 2022) — Factum / brief

Source: Fifth Report of the Proposal Trustee dated April 25, 2022 (for motion returnable April 29, 2021)

25 Apr 2022

#Report

The officer filed a report. The Companies continue construction operations and require ongoing working capital to bridge seasonal cash flow gaps; they are seeking new financing facilities to fund projects and continue as a going concern while making payments under their proposals.

19 Apr 2022

#Filing

Motion Record of the Companies (for motion returnable April 29, 2022) — Application / notice of application

16 Feb 2022

#Order

Order of Deputy Registrar R. Stevens dated February 16, 2022 (Folmur Proposal Approval Order) — Plan sanction / final order

12 Nov 2021

#Order

Order of Justice R. Raikes dated November 12, 2021 (Drexler Proposal Approval Order) — Plan sanction / final order

Source: Report to Court seeking approval of Drexler Proposal dated October 26, 2021 – Part 1 or 2

26 Oct 2021

#Report

The officer filed report no. Report of Trustee on Proposal. The debtor, a southwestern Ontario excavation/sewer/water/concrete construction contractor, restructured under an NOI and proposal after defaulting on its RBC facility, obtained increased DIP and long-term CEFL financing, and the amended proposal is intended to let it continue operations and retain employees while paying unsecured creditors in full.

26 Oct 2021

#Filing

Report to Court seeking approval of Drexler Proposal dated October 26, 2021 – Part 2 or 2 — Proposal document

10 Sep 2021

#Order

Endorsement of Justice M.D. Mcarthur dated September 10, 2021 — Endorsement / reasons

10 Sep 2021

#Order

Order of Justice M.D. Mcarthur dated September 10, 2021 — Order (other)

Source: Fourth Report of the Proposal Trustee dated September 1, 2021 (for motion returnable September 10, 2021)

1 Sep 2021

#Report

The officer filed report no. Fourth Report. The Companies filed a proposal to creditors after obtaining multiple stay extensions, continuing operations with DIP financing support, liquidating redundant equipment through an auction, and pursuing long-term refinancing to repay RBC.

1 Sep 2021

#Filing

Factum of the Companies (for motion returnable September 10, 2021) — Factum / brief

1 Sep 2021

#Filing

Motion Record of the Companies (returnable September 10, 2021) — Application / notice of application

16 Jul 2021

#Order

Endorsement of Justice Garson dated July 16, 2021 — Endorsement / reasons

16 Jul 2021

#Order

Order of Justice Garson dated July 16, 2021 — Order (other)

Source: Third Report of the Proposal Trustee dated July 13, 2021 (for motion returnable July 16, 2021)

13 Jul 2021

#Report

The officer filed report no. Third Report. The Companies continued ordinary-course construction operations during the NOI proceedings while pursuing long-term financing to repay RBC and fund development, selling redundant equipment via auction, and seeking a further stay extension to file a proposal.

13 Jul 2021

#Filing

Factum of the Companies (for motion returnable July 16, 2021) — Factum / brief

12 Jul 2021

#Filing

Motion Record of the Companies (returnable July 16, 2021) — Application / notice of application

28 May 2021

#Order

Order and Endorsement of Justice Garson dated May 28, 2021 — Endorsement / reasons

Source: Second Report of the Proposal Trustee dated May 25, 2021 (for motion returnable May 28, 2021)

25 May 2021

#Report

The officer filed report no. Second Report. The Companies continued operating during the NOI proceedings, using DIP financing minimally, seeking long-term refinancing to repay RBC and the DIP facility, and pursuing an auction sale of redundant equipment while continuing informal creditor discussions.

22 May 2021

#Filing

Factum of the Companies (for motion returnable May 28, 2021) — Factum / brief

22 May 2021

#Filing

Motion Record of the Companies (returnable May 28, 2021) — Application / notice of application

22 Apr 2021

#Filing

Service List as of April 22, 2021 — Service list

16 Apr 2021

#Order

Endorsement of Justice Gorman dated April 16, 2021 — Endorsement / reasons

16 Apr 2021

#Order

Order of Justice Gorman dated April 16, 2021 — Order (other)

14 Apr 2021

#Filing

Factum of the Companies (for motion returnable April 16, 2021) — Factum / brief

14 Apr 2021

#Report

Supplementary Report to the First Report of the Proposal Trustee dated April 14, 2021 (for motion returnable April 16, 2021) — Court officer report

12 Apr 2021

#Report

First Report of the Proposal Trustee dated April 12, 2021 (for motion returnable April 16, 2021) (1 of 2) — Court officer report

12 Apr 2021

#Report

First Report of the Proposal Trustee dated April 12, 2021 (for motion returnable April 16, 2021) (2 of 2) — Court officer report

12 Apr 2021

#Filing

Motion Record of the Companies (returnable April 16, 2021) — Application / notice of application

23 Mar 2021

#Report

Notice of NOI – Drexler Construction Limited — Stakeholder communication

23 Mar 2021

#Claims

Notice of NOI – Folmur Construction (2004) Ltd. — Notice to creditors

23 Mar 2021

#Report

Notice of NOI – Down Under Pipe and Cable Locating Ltd — Stakeholder communication

5 Jan 2021

#Report

Report to Court seeking approval of Folmur Proposal dated January 5, 2021 – Part 1 or 2 — Court officer report

5 Jan 2021

#Report

Report to Court seeking approval of Folmur Proposal dated January 5, 2021 – Part 2 of 2 — Court officer report

Drexler Construction: a brother's holding company brings the receivership

AnalysisAll insights⁠

Filing brief

Five years after Drexler Construction used a BIA proposal to pay out RBC, the holding company of one of the brothers who built it — which bought the firm's Mitsubishi loan in 2024 and is owed about $1.55 million — has had Grant Thornton appointed receiver over it and Down Under Pipe and Cable Locating, against $13,154,765 in liabilities on the companies' books.

16 September 2026

Parties

Debtor

File Documents

Proposal trustee

Albert Gelman

Bench and counselPer the orders and service lists on the record

Bench

Judge	Court	On this docket	Cases on record
Justice Tranquilli	Ontario Superior Court of Justice	4 orders, Apr 2022 – Dec 2022	9 cases on record
Justice Garson	Ontario Superior Court of Justice	3 orders, May 2021 – Jul 2021	4 cases on record
Justice Mcarthur	Ontario Superior Court of Justice	2 orders, Sep 2021	4 cases on record
Justice Gorman	Ontario Superior Court of Justice	2 orders, Apr 2021	7 cases on record

Counsel of record

Party	Counsel	First seen	Source
Proposal trusteeAlbert Gelman	MacDonald Sager Manis LLP	12 Nov 2021	Order · 12 Nov 2021
Creditorcompanies, Drexler Construction Limited and Folmur Construction (2004) Limited	Goldman Sloan Nash & Haber LLP	29 Apr 2022	Factum · 26 Apr 2022
Creditordebto	Goldman Sloan Nash & Haber LLP	10 Sep 2021	Application · 1 Sep 2021
CreditorDrexler Construction Ltd	Goldman Sloan Nash & Haber LLP	29 Apr 2022	Application · 19 Apr 2022
CreditorDrexler Construction Ltd., Folmur Construction (2004) Ltd	Goldman Sloan Nash & Haber LLP	16 Apr 2021	Order · 16 Apr 2021

Capital structureAs asserted in the filings

stated amounts, drawn to scale · for subscribers

#	Priority class	Creditor	Amount	Source
3	Deemed trusts (CRA and other)	Canada Revenue Agency (unpaid source deductions) · in 985 casesDeemed trust class (source deductions); Trustee to report to Court/creditors at a later date. No proof of claim received from CRA as of report date. — debtor: Drexler Construction Limited	—	First Report of the Proposal Trustee dated April 12, 2021 (for motion returnable April 16, 2021) (1 of 2)
4	Secured
4	Secured
5	PMSI / lessors
8	Unsecured
8	Unsecured
8	Unsecured
8	Unsecured
8	Unsecured
8	Unsecured

11 more claims in 3 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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“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

RecoveriesAs declared or paid

Unsecured creditors: a distribution. CRA paid in full.Under the plan · sanctionedReport to Court seeking approval of Folmur Proposal dated January 5,… · 8 Sep 2021

Class	Creditor	Claims	Recovery	Basis	Source
Deemed trust	Her Majesty in right of Canada or a province	—	paid in fullconditional	Under the plansanctionedper the debtor	Motion Record of the Companies · 30 Aug 2021
Deemed trust	CRA	proven	paid in full	Finalper the proposal trustee	Report to Court seeking approval of Folmur Proposal dated January 5,… · 8 Sep 2021
Preferred	—	—	paid in full	Under the plansanctionedper the court	Order of Justice R. Raikes dated November 12, 2021 (Drexler Proposal… · 22 Oct 2021
Unsecured	—	—	conditional	Under the plansanctionedper the proposal trustee	Report to Court seeking approval of Folmur Proposal dated January 5,… · 8 Sep 2021

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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Fourth Report of the Proposal Trustee dated September 1, 2021 (for… · 1 Sep 2021

Fees and ratesAs stated in the filings

4 engagements · 2 firms — latest: Macdonald Sager Manis, to 31 Aug 2021Fourth Report of the Proposal Trustee dated September 1, 2021 (for… · 1 Sep 2021

Firm

Period

Hours

Fees

Rates

Source

Albert Gelman Inc.Proposal trusteeperiod 3 of 3

10 Jul – 30 Aug 2021

Albert Gelman Inc.Proposal trusteeperiod 2 of 3

11 May – 9 Jul 2021Sought

4 people

Third Report of the Proposal Trustee dated July 13, 2021 (for motion · 13 Jul 2021

4 people — Albert Gelman Inc., 11 May – 9 Jul 2021 · 15 blurred figures

Name	Title	Rate
Bryan Gelman	Principal
Tom McElroy	Senior Manager
Sudhanshu Marwaha	Associate
Ashley Robinson	Estate Administrator
—	—	stated average

Albert Gelman Inc.Proposal trusteeperiod 1 of 3

—

Second Report of the Proposal Trustee dated May 25, 2021 (for motion · 25 May 2021

Macdonald Sager ManisCounsel to the trustee

to 31 Aug 2021

—

not stated

Fourth Report of the Proposal Trustee dated September 1, 2021 (for… · 1 Sep 2021

24 blurred figures above

What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.

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Estate financialsReported figures — never derived

Cash on hand

$739K

As at 4 Jul 2021Third Report of the Proposal Trustee dated July 13, 2021 (for motion returnable July 16, 2021)

Professional fees

As at

1 more reported figure

Each one as the filing states it, with its source.

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