Great Northern Timber Incorporated et al.
Follow- Proceeding
- CCAACompanies’ Creditors Arrangement Act, R.S.C. 1985, c.C-36, as amended
- File
- 45876, 45877, 45878, 45879, 45880
Great Northern Timber Incorporated, together with Great Northern Timber Int'l Limited, Great Northern Timber Global Limited, Great Northern Timber Resources Inc. and Northern Fibre Terminal Incorporated, filed Notices of Intention to Make a Proposal under the Bankruptcy and Insolvency Act on August 27, 2024, with Ernst & Young Inc. as monitor and the matter proceeding in the Supreme Court of Nova Scotia (In Bankruptcy and Insolvency), Halifax, under court file numbers 45876 through 45880. The vertically integrated forestry group kept its Sheet Harbour chipping and Musquodoboit Harbour pellet operations running while a sale process approved on December 13, 2024 ran to a February 12, 2025 bid deadline. Orders took effect on February 18, 2025, and CCAA proceedings commenced on February 21, 2025. The court officer reported on July 24, 2025 that the Transaction had been completed and all post-filing obligations discharged. The case remains active.
Reported that the Transaction had been completed with the Monitor's assistance and that all post-filing obligations were discharged.
Source: Third Report of the Monitor
Reported cash receipts of $2.2 million for the four weeks ended March 28, 2025, about $1.0 million under forecast on weaker pellet and chip sales and an uncollected HST refund, with disbursements $0.2 million favourable.
Source: Second Report of the Monitor
Recorded continued wood pellet production at Musquodoboit Harbour, sales of pellet inventory including previously segregated HGE-lien pellets, a chip inventory sale from Sheet Harbour, and settlement of a $100,000 deposit dispute, $75,000 to the Company and $25,000 to the counterparty.
Source: First Report of the Monitor
Appointed BDO Canada Limited, LIT as Receiver on the application of the Canadian Imperial Bank of Commerce, granting an Administrative Charge capped at $350,000, a Receiver's Indemnity Charge and a Receiver's Borrowings Charge of $1,500,000.
Approved the sale to Great Northern Timber Holdings Inc., with vesting effective on delivery of the Monitor's Certificate confirming payment of the Cash Portion of the Purchase Price and satisfaction or waiver of closing conditions; the Purchase Price, allocation statement and Confidential Supplement were sealed.
Source: Draft Initial Order
Applicant's Brief re Application for relief under the Companies; Creditors Arrangement Act — Application / notice of application
Order granted, effective as of 12:01 a.m. Atlantic Standard Time on January 24, 2025.
Source: Draft Stay Extension Order
Set out projections for the Fourth CF Period of $4.3 million in receipts against $7.5 million in operating disbursements, including $0.5 million of professional costs to complete the NOI administration and conclude the sale process.
Source: Fifth Report of the Trustee
Sale process approved, effective 12:01 a.m. Atlantic Standard Time, with bids due by 5:00 p.m. on February 12, 2025.
Source: Draft SISP Order
Letter to Registrar Enclosing Response Brief for December 13 Motion — Application / notice of application
Report filed ahead of the sale process approval, noting the Pellet Mill and Chip Mill had been maintained in the normal course since the last court appearance.
Source: Fourth Report of the Trustee
Order granted, effective as of 9:30 a.m. Atlantic Standard Time.
Source: Draft Consolidation Order
Reported positive net cash flow from operations of approximately $5.8 million from the NOI Filing Date through October 18, 2024, driven by pre-filing receivable and inventory realizations, with chipping temporarily suspended to manage working capital.
Further order granted in the proceedings, dated September 24, 2024.
Source: Service Order re Schedule A
Letter to Registrar re Motion Scheduled for September 19, 2024 — Application / notice of application
Further report filed two days before the September 19, 2024 order took effect.
Source: Second Report of the Trustee
First court officer report of the proceedings, recording that the Company continued to operate both the Chip Mill and the Pellet Mill after the NOI Filing Date on short-term payment terms negotiated with suppliers.
Source: First Report of the Trustee
The five Great Northern Timber companies filed Notices of Intention to Make a Proposal under the Bankruptcy and Insolvency Act, opening the insolvency proceedings.
Source: Draft Order Extending Stay
The Notices of Intention fixed the NOI Filing Date, the baseline against which the Company's subsequent cash receipts and disbursements were reported to the Court.
Source: Initial CCAA Order
Debtor
Great Northern Timber Incorporated et al.
Monitor
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Registrar Balmanoukian | Supreme Court of Nova Scotia | 8 orders, Sep 2024 – Jan 2025 | 3 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorEY | Stikeman Elliott LLP | 30 Oct 2024 | Service list · 30 Oct 2024 |
| CreditorRoyNat Inc | BoyneClarke LLP | 30 Oct 2024 | Service list · 30 Oct 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| Court-ordered charges | ||||
| 1 | Court-ordered charges | Receiver's Borrowings Charge — in priority to all security interests, trusts, liens, charges and encumbrances, statutory or otherwise, in favour of any Person, but subordinate in priority to the Receiver's Indemnity Charge, the Administrative Charge a | $1.5M | Receivership Order |
| 1 | Court-ordered charges | Administrative Charge — first charge on the Property in priority to all security interests, trusts, liens, charges, and encumbrances, statutory or otherwise, in favour of any Person, but subject to subsections 14.06(7), 81.4(4), and 81.6(2) of | $350K | Receivership Order |
| 1 | Court-ordered charges | Receiver's Indemnity Charge — second charge on the Property in priority to all security interests, trusts, liens, charges, and encumbrances, statutory or otherwise, in favour of any Person, but subject to subsections 14.06(7), 81.4(4), and 81.6(2) of | — | Receivership Order |
| 1 | Court-ordered charges | Receiver’s Indemnity Charge — a second charge on the Property in priority to all security interests, trusts, liens, charges, and encumbrances, statutory or otherwise, in favour of any Person, but subject to subsections 14.06(7), 81.4(4), and 81.6(2) | — | Blackline Receivership Order |
| Pre-filing debt | ||||
| 4 | Secured | Canadian Imperial Bank of Commerce (CIBC) · in 67 casesGuarantee (undated in provided page); Notice of Intention to Enforce Security (BIA s.244) stated as enclosed, permitting Bank to realize on this entity's listed assets - specific security instrument not included in provided pages — Related-party guarantor (fellow NOI applicant/affiliate) of Great Northern Timber Incorporated's indebtedness to CIBC; same underlying debt as primary debtor entry — debtor: Great Northern Timber Resources Inc. · as of 13 Aug 2024 | $10.4M | Affidavit of V. Milosevic - Sworn |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Sale approvedDraft Approval and Vesting Order · 8 Apr 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Great Northern Timber Holdings Inc. | not stated | Approved8 Apr 2025 | Draft Approval and Vesting Order |
Unsecured creditors: shortfall. CIBC $4.79M · Roynat paid in full.EstimatedSecond Report of the Monitor · 9 Apr 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | CIBC | $11.3M | $4.79M | Finalper the monitor | Third Report of the Monitor · 24 Jul 2025 |
| Secured | Roynat | — | paid in full$2.28M | Finalper the monitor | Third Report of the Monitor · 24 Jul 2025 |
| Unsecured | unsecured creditors of the Resource estate | $2.2Mlisted | shortfall | Estimatedper the monitor | Second Report of the Monitor · 9 Apr 2025 |
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.
2 engagements · 2 firms — latest: Stikeman Elliott LLP, 26 Aug 2024 – 29 Apr 2025, $204,568.00 in feesThird Report of the Monitor · 25 Jul 2025
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Ernst & Young Inc.Monitor | — | 1,013.7 | — | $455.42stated average | Third Report of the Monitor · 25 Jul 2025 |
| Stikeman Elliott LLPCounsel | 26 Aug 2024 – 29 Apr 2025 | 262.08 | $204,568.00 | $780.56stated average | Third Report of the Monitor · 25 Jul 2025 |
Cumulative receipts
$8.98M
As at 24 Jul 2025Third Report of the Monitor
Cash on hand
$635K
As at 24 Jul 2025Third Report of the Monitor
Professional fees to date
$468K
As at 24 Jul 2025Third Report of the Monitor
| Date | Document | File |
|---|---|---|
| Termination Certificate | ||
Third Report of the Monitor
| ||
| Amended and Restated Distribution Order | ||
| Monitor's Certificate Hfx No. 540593 | ||
Assignment Order
| ||
| Charging Order | ||
| Distribution Order | ||
| Sale Approval and Vesting Order | ||
Stay Extension Order - Extended to July 31, 2025
| ||
| Affidavit of Cedric W. Burgher (Sworn In-Person) | ||
| Affidavit of Cedric W. Burgher sworn on April 9, 2025 | ||
Second Report of the Monitor
| ||
| Affidavit of Tony Mee sworn April 8, 2025 | ||
Draft Approval and Vesting Order
| ||
Draft Assignment Order
| ||
Draft DIP Order
| ||
Draft Distribution Order
| ||
Stay Extension Order - To April 30, 2025
| ||
First Report of the Monitor
| ||
| Book of Authorities | ||
Draft Order
| ||
Initial CCAA Order
| ||
| Ltr to Sarah Gagnon re Hearing February 18, 2025 | ||
Pre-Filing Report of the Proposed Monitor
| ||
| Affidavit of Veselin Milosevic | ||
| Supplemental Affidavit of Veselin Milosevic | ||
| Applicant's Book of Authorities | ||
| Applicant's Brief re Application for relief under the Companies; Creditors Arrangement Act | ||
Blackline - Draft Initial Order to Model Order
| ||
Draft Initial Order
| ||
| Notice of Application in Chambers | ||
Stay Extension Order - to Febryary 26, 2025
| ||
Draft Stay Extension Order
| ||
Fifth Report of the Trustee
| ||
SISP Order
| ||
| Affidavit of M. Chiasson - Sworn | ||
| Letter to Registrar - Reply Submissions of GNTI | ||
| Supplemental Affidavit of V. Milosevic - Sworn | ||
| Letter Brief - Response to Third Extension | ||
| Letter to Registrar Enclosing Response Brief for December 13 Motion | ||
Draft Order - Stay Extension
| ||
Draft SISP Order
| ||
Fourth Report of the Trustee
| ||
Service Order re Schedule A
| ||
| Letter to Registrar Enclosing Notice of Motion | ||
| Notice of Motion - Sgned | ||
Administrtive Consolidation Order
| ||
Payment Into Court Order
| ||
Stay Extension Order
| ||
| Affidavit of Tony Mae - Sworn | ||
| Submissions of Companies re CIBC Motion | ||
| Affidavit of Gavin MacDonald - Part 1 | ||
| Affidavit of Gavin MacDonald - Part 2 | ||
| Amended Notice of Motion | ||
Blackline Receivership Order
| ||
| Consent of Receiver | ||
Draft Consolidation Order (Revised)
| ||
Draft Order Extending Stay (Revised)
| ||
Draft Payment Into Court Order
| ||
| Letter Brief - Receivership Complete | ||
| Letter to Registrar Balmanoukian | ||
Order re Sale Approval
| ||
Receivership Order
| ||
Service List
| ||
| Signed Notice of Motion | ||
| Supplemental Brief | ||
| Unsworn Affidavit of Stephane Peladeau | ||
Draft Consolidation Order
| ||
| Motion Brief of the Companies | ||
Service List and Service Order
| ||
Third Report of the Proposal Trustee
| ||
Service Order
| ||
First Stay Extension Order (to November 8, 2024)
| ||
| Letter to Registrar re Motion Scheduled for September 19, 2024 | ||
| Applicants' Brief - Comeback Motion | ||
Draft Charging Order
| ||
Draft Order Extending Stay
| ||
Second Report of the Trustee
| ||
Decision Letter – Registrar Balmanoukian
| ||
Affidavit of Isabelle Martin - Unsworn
| ||
Affidavit of V. Milosevic - Sworn
| ||
First Report of the Trustee
| ||
Letter re Brief Emergency Motion
| ||
| Letter to Registrar re Emergency Hearing Materials | ||
| Motion Brief | ||
| Notice of Motion | ||
| Great Northern Timber Incorporated | ||
| Great Northern Timber Int'l Limited | ||
| Great Northern Timber Resources Inc | ||
| Northern Fibre Terminal Incorporated | ||
| Great Northern Timber Global Limited | ||
| Great Northern Timber Incorporated 51-3121415 | ||
| Great Northern Timber Int'l Limited 51-3121421 | ||
| Great Northern Timber Resources Inc. 51-3121436 | ||
| Northern Fibre Terminal Incorporated 51-3121442 | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Great Northern Timber Incorporated et al.” (CCAA), Supreme Court of Nova Scotia. Retrieved 20 September 2026, https://proceedings.ca/case/great-northern-timber-incorporated-et-al