Iron Wind Marine Inc. and 3309736 Nova Scotia Limited
Follow- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 51-3181158
Iron Wind Marine Inc. and 3309736 Nova Scotia Limited filed assignments under the BIA on January 31, 2025 in Nova Scotia, with BDO Canada Limited acting as Licensed Insolvency Trustee under estate and court file numbers 46017, 46018 and 51-3181158. The Toronto Dominion Bank holds general security against both companies, with approximately $220,000 owing by Iron Wind on a revolving line of credit and approximately $430,000 owing by the holding company on a term loan as at the date of bankruptcy. Two floorplan financiers have moved on the vessel fleet under subsection 60(8) of the PPSA: Wells Fargo Capital Finance Corporation Canada, owed approximately $924,000, and Northpoint Commercial Finance Canada Inc., owed approximately $772,000, each estimating $50,000 in costs to take possession and sell and no equity for the estate. The proceedings remain active.
Both companies filed an assignment on January 31, 2025, commencing the bankruptcies under BDO Canada Limited as Licensed Insolvency Trustee, and bringing creditors before a meeting.
3 earlier updates, back to 31 January 2025 — subscribers.
Debtor
Iron Wind Marine Inc. and 3309736 Nova Scotia Limited
Trustee in bankruptcy
BDO
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Business Development Bank of Canada (BDC) · in 241 casesCorporate guarantee from Iron Wind securing mortgage advanced to Real Co (4428885 Nova Scotia Limited) on Real Property; supported by GSA subject to priorities agreement with TD dated July 17, 2023 — Corporate guarantee amount stated as $1.25 million; separately, BDC first-ranking mortgage on Real Property against Real Co (not Iron Wind) stated at approximately $1.2 million principal and interest owing (see note on Real Co, not a listed debtor entry here) — debtor: Iron Wind Marine Inc. | $1.25M | Trustee's Preliminary Report - 3309736 Nova Scotia Limited |
Unsecured creditors: no distribution.EstimatedTrustee's Preliminary Report - 3309736 Nova Scotia Limited · 20 Feb 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | — | — | shortfall | Estimatedper the trustee | Trustee's Preliminary Report - Iron Wind Marine Inc · 20 Feb 2025 |
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee's Preliminary Report - 3309736 Nova Scotia Limited · 20 Feb 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.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
3309736 Nova Scotia Limited - Creditors Package
| PDF · Subscribers | |
| Iron Wind Marine Inc. - Creditors Package | PDF · Subscribers | |
| 3309736 Nova Scotia Limited - Certificate of Appointment | PDF · Subscribers | |
Iron Wind Marine Inc. - Certificate of Appointment
| PDF · Subscribers | |
Trustee's Preliminary Report - 3309736 Nova Scotia Limited
| PDF · Subscribers | |
Trustee's Preliminary Report - Iron Wind Marine Inc
| 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., “Iron Wind Marine Inc. and 3309736 Nova Scotia Limited” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/iron-wind-marine-inc-and-3309736-nova-scotia-limited