F.A.S.T. Industries Ltd.
- Proceeding
- ProposalBankruptcy and Insolvency Act, RSC 1985, c B-3, as amended
- File
- 24-1968352
- Industry
- Energy · Oilfield services
F.A.S.T. Industries Ltd. has a Division I proposal before its creditors under the Bankruptcy and Insolvency Act, and the proceeding remains active. The proposal affects two secured creditors, both to be paid in full from a Cash Pool: TNT Tank & Trailers Repair LP, owed approximately $22,000 and holding a Garage Keeper's Lien on a 2014 Tremcar TC 406 10 Cube (serial #14-13196), and the Wajax group entities, whose single combined claim of approximately $5,000 across four related companies is secured by a general security agreement. Left unaffected are 721433 Alberta Ltd., a related party owed approximately $502,000 under a general security agreement, with director Bret Wetthuhn holding shares in trust for it; the equipment lessors Blue Chip Leasing, Bodkin Capital, Enable Capital and National Leasing, all current on lease payments; RBC on a 2013 Ram 1500; and the Workers' Compensation Board, owed nil.
The officer filed report no. Trustee's First Report. FAST continues operating as an oil field service manufacturer, completing two ongoing rig repair contracts (expected by May 31, 2015) while pursuing suppliers largely on a COD basis and working toward a formal proposal to creditors. Court file 24-1968352.
Debtor
F.A.S.T. Industries Ltd.
Proposal trustee
Doane Grant Thornton
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | 721433 Alberta Ltd.General Security Agreement — Unaffected Secured Creditor (not affected by Proposal); related party - director Bret Wetthuhn holds shares in trust for this entity; amount approximate — debtor: F.A.S.T. Industries Ltd. | $502K | Creditors' Package - May 21, 2015 |
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured |
8 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.Under the planCreditors' Package - May 21, 2015 · 21 May 2015
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | estimated | paid in full | Under the planper the trustee | Creditors' Package - May 21, 2015 · 21 May 2015 |
| Secured | Affected Secured Creditors | listed | paid in full | Under the planper the trustee | Creditors' Package - May 21, 2015 · 21 May 2015 |
| Preferred | — | — | paid in full | Under the planper the trustee | Creditors' Package - May 21, 2015 · 21 May 2015 |
| Unsecured | — | estimated | of principal | Under the planper the trustee | Creditors' Package - May 21, 2015 · 21 May 2015 |
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.
4 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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See all plansAs at ·
Cumulative receipts
$87K
As at 26 Mar 2015Trustee's First Report dated March 27, 2015
Cumulative disbursements
As at
1 more reported figure, and 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 |
|---|---|---|
Filed Order re: extending Proposal time
| PDF · Subscribers | |
Order granted by Justice Gill dated July 21, 2015
| PDF · Subscribers | |
Creditors' Package - May 21, 2015
| PDF · Subscribers | |
Application returnable April 2, 2015
| PDF · Subscribers | |
First Extension Order dated April 2, 2015
| PDF · Subscribers | |
Trustee's First Report dated March 27, 2015
| PDF · Subscribers | |
| Service Letter (Application, Affidavit & Written Submissions | PDF · Subscribers | |
| Initial Creditor Mailout - March 6, 2015 | 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., “F.A.S.T. Industries Ltd.” (Proposal), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/f-a-s-t-industries-ltd