Jade Equipment Co. Ltd. and Elvaan Group Inc.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Jade Equipment Co. Ltd. and Elvaan Group Inc. are subject to an active court-appointed receivership under BIA s. 243 and provincial Judicature Act authority, commenced October 1, 2025, with an order dated May 20, 2026 on the record. Royal Bank of Canada is the principal secured creditor, claiming $6,067,999.62 against Jade and $5,967,999.62 against Elvaan Group as of September 12, 2025, the latter under an August 3, 2023 guarantee capped at $7,200,000, supported by first-ranking security in all present and after-acquired personal property. Related company Trenchless Utility Equipment Inc. carries floorplan debt of $12,354,450, BDC Capital Inc. debt of $4,434,877 and Toronto-Dominion Bank debt of $1,600,000 as of May 31, 2025, per a Consolidated Debt Summary on which RBC states it lacks full information.
A claims procedure has been established — see the order for deadlines.
Lifting Stay of Proceedings Order dated May 20, 2026 was filed.
Source: Lifting Stay of Proceedings Order dated May 20, 2026
Motion Record of the Receiver dated May 8, 2026 (Part 1 of 2) — Application / notice of application
Motion Record of the Receiver dated May 8, 2026 (Part 2 of 2) — Application / notice of application
Motion Record of the Receiver dated January 16, 2026 (Part 1 of 2) — Application / notice of application
Motion Record of the Receiver dated January 16, 2026 (Part 2 of 2) — Application / notice of application
Notice and Statement of the Receiver dated October 9, 2025 — Notice of receiver (s. 245 / Form 87)
Application Record dated September 15, 2025 (Part 1 of 3) — Application / notice of application
Application Record dated September 15, 2025 (Part 2 of 3) — Application / notice of application
Application Record dated September 15, 2025 (Part 3 of 3) — Application / notice of application
Undated filings3 — no date appears on the document · show
Debtor
Jade Equipment Co. Ltd. and Elvaan Group Inc.
Applicant
Royal Bank of Canada
Receiver
KPMG
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 3 orders, May 2026 | 245 cases on record |
| Justice Conway | Ontario Superior Court of Justice | 3 orders, Jan 2026 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverKPMG | Aird & Berlis LLP | 9 Oct 2025 | Service list · 9 Oct 2025 |
| ApplicantRoyal Bank of Canada | Borden Ladner Gervais LLP | 29 Sep 2025 | Service list · 9 Oct 2025 |
| CreditorBDC Capital Inc | Brazeau Seller LLP | 9 Oct 2025 | Service list · 9 Oct 2025 |
| CreditorCWB National Leasing Inc | Miller Thomson LLP | 16 Jan 2026 | Service list · 16 Jan 2026 |
| CreditorGlobal Environmental Products | Agrozaffiro LLP | 9 Oct 2025 | Service list · 9 Oct 2025 |
| CreditorToronto-Dominion Bank | Garfinkle, Biderman LLP | 9 Oct 2025 | Service list · 9 Oct 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Mitsubishi HC Capital, Inc. (Floor Plan)Floor plan financing secured by inventory on hand — 31-Dec-24 balance was $6,649,812; also insurance loss payee; GL (2025-06) shows combined Mitsubishi floorplan of ~$3,245,976 across Trenchless/Jade sub-accounts (different snapshot/scope) — debtor: Trenchless Utility Equipment Inc. · as of 31 May 2025 | $5.38M | Application Record dated September 15, 2025 (Part 3 of 3) |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
16 more claims in 2 classes The stack holds Secured and PMSI / lessors claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: no distribution. Royal Bank of Canada a distribution.EstimatedTrustee's Preliminary Report · 17 Jun 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Royal Bank of Canada | — | interim | Finalper the receiver | Trustee's Preliminary Report · 17 Jun 2026 |
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee's Preliminary Report · 17 Jun 2026 |
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.
1 blurred figure 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 plans3 engagements · 2 firms — latest: Aird & Berlis LLP, 1 Feb – 28 Feb 2026, in feesSecond Report of the Receiver dated May 7, 2026 (Part 2 of 2) · 7 May 2026
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Aird & Berlis LLPCounsel to the receiverperiod 2 of 2 | 1 Feb – 28 Feb 2026 | 5 people | Second Report of the Receiver dated May 7, 2026 (Part 2 of 2) · 7 May 2026 | ||||||||||||||||||||||||||||||||
5 people — Aird & Berlis LLP, 1 Feb – 28 Feb 2026 · 15 blurred figures
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| Aird & Berlis LLPCounsel to the receiverperiod 1 of 2 | — | 2 people | Second Report of the Receiver dated May 7, 2026 (Part 2 of 2) · 7 May 2026 | ||||||||||||||||||||||||||||||||
2 people — Aird & Berlis LLP · 6 blurred figures
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| KPMG Inc.Receiver | — | — | — | Motion Record of the Receiver dated May 8, 2026 (Part 1 of 2) · 8 May 2026 | |||||||||||||||||||||||||||||||
28 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 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 |
|---|---|---|
Trustee's Preliminary Report dated June 17, 2026
| PDF · Subscribers | |
| Notice to Creditors | PDF · Subscribers | |
| Certificate of assignment dated May 28, 2026 | PDF · Subscribers | |
Distribution and Discharge Order dated May 20, 2026
| PDF · Subscribers | |
Endorsement of Justice Steele dated May 20, 2026
| PDF · Subscribers | |
Lifting Stay of Proceedings Order dated May 20, 2026
| PDF · Subscribers | |
Service list as of May 13, 2026
| PDF · Subscribers | |
Service list as of May 12, 2026
| PDF · Subscribers | |
Motion Record of the Receiver dated May 8, 2026 (Part 1 of 2)
| PDF · Subscribers | |
Motion Record of the Receiver dated May 8, 2026 (Part 2 of 2)
| PDF · Subscribers | |
Second Report of the Receiver dated May 7, 2026 (Part 1 of 2)
| PDF · Subscribers | |
Second Report of the Receiver dated May 7, 2026 (Part 2 of 2)
| PDF · Subscribers | |
Service list as of January 28, 2026
| PDF · Subscribers | |
Ancillary Relief Order dated January 27, 2026
| PDF · Subscribers | |
Approval and Vesting Order dated January 27, 2026
| PDF · Subscribers | |
Endorsement of Justice Conway dated January 27, 2026
| PDF · Subscribers | |
Factum of the Receiver dated January 21, 2026
| PDF · Subscribers | |
First Report of the Receiver dated January 16, 2026 (Part 1 of 2)
| PDF · Subscribers | |
First Report of the Receiver dated January 16, 2026 (Part 2 of 2)
| PDF · Subscribers | |
| Motion Record of the Receiver dated January 16, 2026 (Part 1 of 2) | PDF · Subscribers | |
| Motion Record of the Receiver dated January 16, 2026 (Part 2 of 2) | PDF · Subscribers | |
Service list as of January 16, 2026
| PDF · Subscribers | |
Service list as of November 5, 2025
| PDF · Subscribers | |
| Notice and Statement of the Receiver dated October 9, 2025 | PDF · Subscribers | |
| PPSA Service list as of October 9, 2025 | PDF · Subscribers | |
Service list as of October 9, 2025
| PDF · Subscribers | |
Appointment Order dated September 29, 2025
| PDF · Subscribers | |
| Factum of the Applicant dated September 23, 2025 | PDF · Subscribers | |
Application Record dated September 15, 2025 (Part 1 of 3)
| PDF · Subscribers | |
Application Record dated September 15, 2025 (Part 2 of 3)
| PDF · Subscribers | |
Application Record dated September 15, 2025 (Part 3 of 3)
| PDF · Subscribers | |
| Guide on how to complete Proof of Claim | PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
| Proxy | 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., “Jade Equipment Co. Ltd. and Elvaan Group Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/jade-equipment-co-ltd-and-elvaan-group-inc