Ferrex Engineering Ltd
- Proceeding
- NOISection 50.4 of the Bankruptcy and Insolvency Act
- File
- 31-2636073
Ferrex Engineering Ltd. has been in insolvency proceedings in Ontario since April 2, 2020, when it filed a notice of intention, citing section 65.13 of the Bankruptcy and Insolvency Act, with MNP Ltd. as proposal trustee. The matter is before the Ontario Superior Court of Justice (Commercial List) (in Bankruptcy and Insolvency) under court file number 31-2636073, and remains active. The list of creditors with claims of $250 or more filed at the outset (Form 33) shows unsecured claims of $1,757,457.00 owed to 1199541 Ontario Inc., USD 757,441.29 owed to Micro Fines Recycling Owego LLC of the United States, and $24,143.00 owed to 1757084 Ontario Inc.
The court granted an approval and vesting order for the sale to MSC Manufacturing Solutions Corp. Sealed: Confidential Appendix 'A' to the Second Report.
Source: Approval and Vesting Order
Approval and Vesting Order - AVO Motion Record - dated June 17 2020 — Approval and vesting order
The officer filed report no. Second Report. Ferrex disclaimed its leased premises and pursued a court-approved sale process for its business and assets on a going-concern basis; no third-party offers were received, and the only bid came from the secured creditor 1199541 (via a credit bid APA), which the Trustee recommends the Court approve to permit an orderly, going-concern sale and timely exit from the NOI proceedings.
Source: Second Report to Court (with appendices) dated June 15, 2020
The officer filed report no. First Report. Ferrex continues to operate as a going concern under NOI protection, fulfilling existing customer contracts while the Proposal Trustee runs a going-concern sale process for its business and assets. Court file 31-2636073.
Source: First Report to Court - with appendices - dated April 29 2020
Notice to Creditors of the Notice of Intention to Make a Proposal dated April 9 2020 — Notice to creditors
Certificate of the filing of the Notice of Intention to Make a Proposal dated April 2 2020 — NOI certificate of filing
Debtor
Ferrex Engineering Ltd
Proposal trustee
MNP
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | 1199541 Ontario Inc. · in 2 casesas of NOI filing date — debtor: Ferrex Engineering Ltd. | $1.76M | Notice to Creditors of the Notice of Intention to Make a Proposal dated April 9 2020 |
| Unsecured | |||
| Unsecured |
2 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale approved — The Court approved the Transaction under the asset purchase agreement dated June 8, 2020 with 1199541 Ontario Inc., vesting the Purchased Assets in its permitted assignee MSC Manufacturing Solutions Corp. upon delivery of the Proposal Trustee's certificate.Approval and Vesting Order dated June 17, 2020 · 17 Jun 2020
| Purchaser | Price | Status | Source |
|---|---|---|---|
| MSC Manufacturing Solutions Corp.all of the Company's right, title and interest in and to the assets described in the Sale Agreement (the Purchased Assets) · asset sale · nominee/assignee: 1199541 Ontario Inc. · agreement 8 Jun 2020 | Subscribers | Approved17 Jun 2020 | Approval and Vesting Order |
Unsecured creditors: no distribution.Second Report to Court (with appendices) · 15 Jun 2020
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | per the proposal trustee | Second Report to Court (with appendices) · 15 Jun 2020 |
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.
Cumulative receipts
$20K
As at 29 Apr 2020First Report to Court - with appendices - dated April 29 2020
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Amended Order - Approval of the Proposal Trustee's Report of the Trustee and Professional Fees dated June 17, 2020
| PDF · Subscribers | |
Ancillary Relief Order signed June 17, 2020
| PDF · Subscribers | |
| Approval and Vesting Order - AVO Motion Record - dated June 17 2020 | PDF · Subscribers | |
Approval and Vesting Order dated June 17, 2020
| PDF · Subscribers | |
Second Report to Court (with appendices) dated June 15, 2020
| PDF · Subscribers | |
| Ancillary Relief Order dated June 12 2020 | PDF · Subscribers | |
Notice of Motion - Sale Approval - dated June 12 2020
| PDF · Subscribers | |
| Order Recognizing Foreign Proceeding dated May 22 2020 | PDF · Subscribers | |
Endorsement dated May 4, 2020
| PDF · Subscribers | |
Order -extension- dated May 4 2020
| PDF · Subscribers | |
First Report to Court - with appendices - dated April 29 2020
| PDF · Subscribers | |
| Notice of Motion dated April 28 2020 | PDF · Subscribers | |
Notice to Creditors of the Notice of Intention to Make a Proposal dated April 9 2020
| PDF · Subscribers | |
| Certificate of Appointment dated April 2 2020 | PDF · Subscribers | |
| Certificate of the filing of the Notice of Intention to Make a Proposal dated April 2 2020 | 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., “Ferrex Engineering Ltd” (NOI), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/ferrex-engineering-ltd