Excavation National Inc. filed a notice of intention to make a proposal under section 50.4 of the Bankruptcy and Insolvency Act on December 4, 2025, and the proceeding remains active. Its unaudited interim balance sheet at October 31, 2025 showed total assets of $27,363,471 against total liabilities of $24,669,215, down from $29,629,123 and $24,758,033 at the August 31, 2025 unaudited fiscal year-end. The Royal Bank of Canada is identified as the sole secured creditor, holding a conventional movable hypothec over the universality of National's assets, with a short-term credit facility balance of $7,046,626 as of December 12, 2025; RBC and the debtor entered a forbearance and support agreement dated December 3, 2025 running to January 30, 2026. Orders made on December 23, 2025, February 13, March 30 and May 11, 2026 have carried the stay to June 4, 2026.
A claims procedure has been established — see the order for deadlines.
The officer filed a report. The receiver/trustee suspended the debtor's commercial operations and terminated all employees shortly after appointment, and is focused on collecting outstanding receivables and contractual holdbacks from project owners while no distribution to unsecured creditors is currently anticipated.
The court appointed KPMG INC. as Séquestre, on the application of BANQUE ROYALE DU CANADA. Court file 540-11-012647-253.
Application for the fourth extension of delay (In French only) — Application / notice of application
Application for the third extension of delay (In French only) — Application / notice of application
Application to extend the delay to make a proposal (In French only) — Application / notice of application
First extension Order and payments to certain creditors (In French only) was filed.
Source: First extension Order and payments to certain creditors (In French only)
Excavation National Inc. — NOI filed, Québec.
Source: Certificate of the Notice of Intention to make a Proposal (NOI)
Outcome brief
Excavation National: the receivables outlasted the NOI
The Québec excavation contractor spent its NOI trying to collect from clients, some holding back payment pending subcontractors' releases. RBC had KPMG appointed receiver on June 8, 2026; KPMG filed an assignment on June 22 and lists $13,558,076 in receivables and holdbacks against $30,820,930 in liabilities, with no distribution to unsecured creditors in view at this stage.
Debtor
Excavation National Inc.
Proposal trustee
KPMG
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 584 casesAmount owed as stated in Receiver's Notice and Statement, as at date receivership order was granted/possession taken — debtor: Excavation National Inc. · as of 8 Jun 2026 | $12.5M | Notice and Statement of the Receiver |
| 8 | Unsecured | |||
| 8 | Unsecured |
2 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Preliminary Report by the Trustee (In French only)
| PDF · Subscribers | |
Registration to the Creditors' Meeting
| PDF · Subscribers | |
Notice of bankruptcy and first meeting of creditors
| PDF · Subscribers | |
| Certificate of appointment | PDF · Subscribers | |
| Registration of the Creditor's meeting | PDF · Subscribers | |
| Trustee's report on Proposal (In French only) | PDF · Subscribers | |
Notice and Statement of the Receiver
| PDF · Subscribers | |
| Notice of Proposal to Creditors | PDF · Subscribers | |
| Certificate of Filing a Receiver | PDF · Subscribers | |
Order appointing a Receiver (In French only)
| PDF · Subscribers | |
| Pre-filing Report to the Court submitted by KPMG Inc. In its Capacity as Proposed Receiver (In French only) | PDF · Subscribers | |
| Certificate of the Proposal (In French only) | PDF · Subscribers | |
| Proposal (In French only) 2026-06-04 | PDF · Subscribers | |
| Application to appoint a Receiver (In French only) | PDF · Subscribers | |
Fourth extension Order (In French only)
| PDF · Subscribers | |
Application for the fourth extension of delay (In French only)
| PDF · Subscribers | |
| Fourth Trustee's report (In French only) | PDF · Subscribers | |
Third extension Order (In French only)
| PDF · Subscribers | |
| Application for the third extension of delay (In French only) | PDF · Subscribers | |
| Third Trustee report (In French only) | PDF · Subscribers | |
| Application for the recovery of funds (In French only) | PDF · Subscribers | |
Second extension Order (In French only)
| PDF · Subscribers | |
| Application to extend the delay to make a proposal (In French only) | PDF · Subscribers | |
| Second trustee report's (In French only) | PDF · Subscribers | |
First extension Order and payments to certain creditors (In French only)
| PDF · Subscribers | |
First Trustee's report (In French only)
| PDF · Subscribers | |
| Application to extend the delay to make a proposal and to authorize payment of certain claims prior to the filing of the notice of intention to make a proposal (In french only) | PDF · Subscribers | |
| Notice to creditors of Intention to make a Proposal (NOI) | PDF · Subscribers | |
| Certificate of the Notice of Intention to make a Proposal (NOI) | PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
| Proof of Claim and Proxy | PDF · Subscribers | |
| Voting Letter | 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., “Excavation National Inc.” (NOI), Superior Court of Québec. Retrieved 5 November 2026, https://proceedings.ca/case/excavation-national-inc
Sources last checked · summary updated 7 August 2026 · Report a correction · Printed from proceedings.ca/case/excavation-national-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.