Innovative Steam Technologies et al.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- CV-18-596878-00CL
Innovative Steam Technologies Inc. and IST Boiler Components Inc. were placed in a court-appointed receivership commenced 1 May 2018 in the Ontario Superior Court of Justice (Commercial List) under court file CV-18-596878-00CL, on the statutory footing of s. 243 of the BIA and provincial Judicature Act powers, with Deloitte Restructuring Inc. as receiver. Deloitte's Form 87 notice and statement under ss. 245(1) and 246(1) put the combined book value of the two companies' assets at $26,187,469 as at 31 March 2018, unaudited and unverified, against Total Secured Debt of $27,220,801.32 and Total Unsecured Debt of $4,733,611.84. HSBC Bank Canada is listed at $17,020,801.32 and Fulcrum Capital Partners (Collector) V, LP at $10,200,000 among the secured creditors; the largest stated unsecured claim is ABJ Engineering & Contracting Co. KSCC at $1,500,230.08. Employee and Crown claims are listed as unknown in amount. The matter is closed.
Motion Record of Deloitte Restructuring - returnable January 24, 2020.pdf — Application / notice of application
Motion Record of the Receiver - returnable December 3, 2018.pdf — Application / notice of application
Motion Record of the Receiver - returnable June 27, 2018.pdf — Application / notice of application
Motion Record of the Receiver - returnable June 12, 2018.pdf — Application / notice of application
Receivership commenced over both debtors in the Commercial List at Toronto under file CV-18-596878-00CL, with Deloitte Restructuring Inc. taking office as receiver.
Debtor
Innovative Steam Technologies et al.
Receiver
Deloitte
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hainey | Ontario Superior Court of Justice | 2 orders, Jun 2018 | 211 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDeloitte | BAKER & McKENZIE LLP | 12 Jun 2018 | Order · 3 Dec 2018 |
| CreditorHSBC Bank Canada | Dentons Canada LLP | — | Order |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | HSBC Bank Canada · in 55 casesIdentified in the Form 87 notice among creditors who “appear to hold a security interest on the property”, and on the attached listing under “Secured Creditors”. — The notice at (d) rounds this to $17,020,801; the listing states the precise $17,020,801.32. The listing states Total Secured Debt of $27,220,801.32. — debtor: Innovative Steam Technologies Inc. and IST Boiler Components Inc. | $17M | Notice and Statement of the Receive .pdf |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
199 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: no distribution. ESDC a distribution · HSBC Bank Canada short · CRA a distribution.EstimatedMotion Record of the Receiver - returnable December 3, 2018.pdf · 21 Nov 2018
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| WEPPAemployee claim for unpaid wages pursuant to WEPP | ESDC | — | Finalper the receiver | Motion Record of the Receiver - returnable December 3, 2018.pdf · 21 Nov 2018 | |
| Secured | HSBC Bank Canada | — | shortfall | Estimatedper the receiver | Motion Record of the Receiver - returnable December 3, 2018.pdf · 21 Nov 2018 |
| Unsecured | other subordinate stakeholders of the Company | — | no distribution | Estimatedper the receiver | Motion Record of the Receiver - returnable December 3, 2018.pdf · 21 Nov 2018 |
| Unsecureddeemed trust for payroll source deduction and HST arrears | CRA | — | Finalper the receiver | Motion Record of the Receiver - returnable December 3, 2018.pdf · 21 Nov 2018 |
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 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 plans6 engagements · 2 firms — latest: Deloitte Restructuring Inc., 2 Nov 2018 – 31 Dec 2019, in feesMotion Record of Deloitte Restructuring - returnable January 24,… · 15 Jan 2020
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baker & McKenzie LLPCounsel to the receiverperiod 5 of 5 | to 30 Sep 2019 | — | 3 people | Motion Record of Deloitte Restructuring - returnable January 24,… · 15 Jan 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Baker & McKenzie LLPCounsel to the receiverperiod 4 of 5 | to 30 Apr 2019 | 2 people | Motion Record of Deloitte Restructuring - returnable January 24,… · 15 Jan 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Baker & McKenzie LLPCounsel to the receiverperiod 3 of 5 | 17 May – 31 Oct 2018 | — | — | not stated | Motion Record of the Receiver - returnable December 3, 2018.pdf · 22 Nov 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Baker & McKenzie LLPCounsel to the receiverperiod 2 of 5 | to 31 May 2018 | not stated | Motion Record of the Receiver - returnable December 3, 2018.pdf · 22 Nov 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Baker & McKenzie LLPCounsel to the receiverperiod 1 of 5 | — | — | 6 people | Motion Record of the Receiver - returnable December 3, 2018.pdf · 22 Nov 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deloitte Restructuring Inc.Receiver | 2 Nov 2018 – 31 Dec 2019 | 10 people | Motion Record of Deloitte Restructuring - returnable January 24,… · 15 Jan 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 people — Deloitte Restructuring Inc., 2 Nov 2018 – 31 Dec 2019 · 32 blurred figures
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
77 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plansAs at ·
The total 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 |
|---|---|---|
Order of Justice Koehnen .pdf
| PDF · Subscribers | |
Motion Record of Deloitte Restructuring - returnable January 24, 2020.pdf
| PDF · Subscribers | |
Distribution Discharge Order .pdf
| PDF · Subscribers | |
Motion Record of the Receiver - returnable December 3, 2018.pdf
| PDF · Subscribers | |
Approval and Vesting Order of Justice Hainey .pdf
| PDF · Subscribers | |
Order of Justice Hainey .pdf
| PDF · Subscribers | |
| Factum and Authorities of the Receiver - returnable June 27, 2018.pdf | PDF · Subscribers | |
| Motion Record of the Receiver - returnable June 27, 2018.pdf | PDF · Subscribers | |
Approval and Vesting Order of Justice Dunphy .PDF
| PDF · Subscribers | |
Motion Record of the Receiver - returnable June 12, 2018.pdf
| PDF · Subscribers | |
Notice and Statement of the Receive .pdf
| PDF · Subscribers | |
Endorsement of Justice Wilton-Siegel .pdf
| PDF · Subscribers | |
| Application Record - Volume 1 of 2 .pdf | PDF · Subscribers | |
| Application Record - Volume 2 of 2 .pdf | PDF · Subscribers | |
Receivership Order - May 1,_2018.pdf
| 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., “Innovative Steam Technologies et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/innovative-steam-technologies-et-al