Drill Rite Systems Inc., an Alberta company, has been in bankruptcy since 7 April 2017, with MNP Ltd. acting as trustee under the Bankruptcy and Insolvency Act in the Court of King's Bench of Alberta, court file ED A02038848. The proceeding remains active. The Statement of Affairs (Form 78), stated as at 5 April 2017, put entity-level assets at $236,306.00 against liabilities of $1,676,660.48, for a reported deficiency of $1,440,354.48. Unsecured claims total $945,653.48, secured claims $7.00 and preferred claims nil, with a further $731,000.00 shown as a Canada Revenue Agency deemed trust claim under contingent or other liabilities. The Canada Revenue Agency is the largest listed unsecured creditor at $677,000.00, followed by The Pipe Yard Ltd. at $62,433.67. Westcore Holdings Ltd. holds blanket security over business assets, machinery, vehicles and receivables.
The officer filed report no. First Report. The Bankrupt's operations ceased upon bankruptcy filing; a related company, Newco, has taken over the former premises and equipment under a lease with an option to purchase, and the Trustee is administering the estate, collecting accounts receivable, and pursuing sale of remaining assets. Court file ED A02038848.
Source: First Report of the Trustee
Debtor
Drill Rite Systems Inc.
Trustee in bankruptcy
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Koch Ford Lincoln Sales (2003) Ltd. · in 4 casesMotor Vehicles - Automobile - 2016 Ford F350 and 2016 Lincoln Continental — Two listings of $1.00 each (items 5,6) combined as reported per creditor — debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $2 | Notice of Bankruptcy and First meeting of Creditors |
| 4 | Secured | Westcore Holdings Ltd.Blanket security over multiple business assets, machinery, vehicles and accounts receivable (itemized list of ~20 assets, estimated surplus $236,299.00 in aggregate) — Amount of claim stated as $1.00 (nominal); estimated surplus from security reported as $236,299.00 — debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $1 | Notice of Bankruptcy and First meeting of Creditors |
| 4 | Secured | Ford Credit Canada Limited · in 60 casesMotor Vehicles - Automobile - 2016 Ford F150 — Estimated value of security $1.00 — debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $1 | Notice of Bankruptcy and First meeting of Creditors |
| 4 | Secured | John Deere Credit Inc. · in 12 casesBusiness Assets - Machinery - 2012 John Deere 326D Skid Steer Loader — Three separate listings of $1.00 each for John Deere Credit Inc. securing separate skid steer loaders (items 2,3,4); treated as one entry per creditor per rule 5 — debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $1 | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | CRA - Winnipeg Tax Services Office RPDeemed trust claim; amount expected to rank for dividend shown as $0.00 — debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $731K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | CRA - Canada Revenue Agency - Tax - Prairie RCCRA claim; unsecured per Statement of Affairs (see also separate deemed trust claim on List D) — debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $677K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | CRA - Canada Revenue Agency - Tax - Prairie RTdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $92.3K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | The Pipe Yard Ltd.debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $62.4K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | CIBC Visa - Bankruptcies c/o TECHCOM Managed Services · in 3 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $35.3K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Dentons Canada LLP · in 30 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $18.5K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Fraser Collection Services Limiteddebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $8.97K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | M J Duval Transport Ltd.debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $8.78K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Law Offices of Cass Litmandebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $7.91K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | National Recovery Corp.debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $6.27K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Oxypro · in 2 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $4.72K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Double Tree Hoteldebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $4.36K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Enercare Connections · in 2 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $3.83K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Armand Plamondondebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $2.85K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Hydro Flodebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $2.68K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Metropolitan Credit Adjusters Ltd. · in 3 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $2.33K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | XOOM Energy ULCdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $2.01K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Superior Truck Equipment Inc.debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $1.96K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Bushell Transportdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $1.92K | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | EPCOR Energy Services Inc. · in 3 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $578 | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Shaw Communications Inc. - Calgary · in 4 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $486 | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Cliffs Towing · in 2 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $316 | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Telus Communications - Corporate · in 16 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $141 | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Alberta Finance and Enterprise · in 7 casesdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $1 | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Rohit Communities Inc.debtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $1 | Notice of Bankruptcy and First meeting of Creditors |
| 8 | Unsecured | Alberta Justice - Maintenance Enforcement Programdebtor: Drill Rite Systems Inc. · as of 5 Apr 2017 | $1 | Notice of Bankruptcy and First meeting of Creditors |
As at 5 Apr 2017 · per Statement of Affairs (Business Bankruptcy), Form 78, as stated and estimated by the officer · Drill Rite Systems Inc. (entity level) — Total unsecured creditors $945,653.48; secured claims $7.00; preferred creditors $0.00; contingent/other liabilities (CRA deemed trust) $731,000.00; reported deficiency $1,440,354.48
| Date | Document | File |
|---|---|---|
First Report of the Trustee
| ||
| Notice of Hearing Approving Sale of Assets | ||
Notice of Bankruptcy and First meeting of Creditors
| ||
Certificate of Assignment
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Drill Rite Systems Inc.” (Bankruptcy), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/drill-rite-systems-inc
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/drill-rite-systems-inc
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.