Kaiser Steel Ltd.
Follow- Proceeding
- BankruptcyBIA
- File
- VLC-B-220474
Kaiser Steel Ltd. has been in bankruptcy under the Bankruptcy and Insolvency Act since December 29, 2022, with The Bowra Group Inc. acting as Licenced Insolvency Trustee. The estate is administered in the Supreme Court of British Columbia under court file no. 11-2874693 and remains active. Royal Bank of Canada is the senior secured lender, holding a general security agreement over all property with an estimated claim of $428,000, and is expected to suffer a shortfall on its debt. Business Development Bank of Canada also holds security over all property, BMW holds motor vehicle security, and the Director of Employment Standards asserts a statutory lien over all property. The Canada Revenue Agency claims an estimated $100,000 as a deemed trust for source deductions. The company's records indicate unsecured claims totalling approximately $467,000, excluding secured creditor shortfalls.
Report of the court officer entered on the December 29, 2022 commencement date; the record does not set out its contents or any relief sought.
Source: Trustee’s Report to Creditors
Court Order for Extension of Time for Filing Proposal was filed. Court file VLC-B-220474.
Source: Court Order for Extension of Time for Filing Proposal
Debtor
Kaiser Steel Ltd.
Trustee in bankruptcy
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesDeemed Trust - Source Deductions — Deemed trust class; estimated claim — debtor: Kaiser Steel Ltd. | $100K | Trustee’s Report to Creditors |
| 4 | Secured | Royal Bank of Canada · in 556 casesAll property (General Security Agreement); senior secured lender — Estimated claim; RBC expected to suffer a shortfall on its debt — debtor: Kaiser Steel Ltd. | $428K | Trustee’s Report to Creditors |
| 4 | Secured | Director of Employment Standards (Lien) · in 5 casesAll property — Estimated claim amount unknown; statutory lien — debtor: Kaiser Steel Ltd. | — | Trustee’s Report to Creditors |
| 4 | Secured | Business Development Bank of Canada · in 241 casesAll property — Estimated claim amount unknown — debtor: Kaiser Steel Ltd. | — | Trustee’s Report to Creditors |
| 4 | Secured | BMW · in 2 casesMotor Vehicle — Estimated claim amount unknown — debtor: Kaiser Steel Ltd. | — | Trustee’s Report to Creditors |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesDocument names no individual unsecured creditors; excludes secured creditor shortfalls — debtor: Kaiser Steel Ltd. | $467K | Trustee’s Report to Creditors |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: no recovery. Royal Bank of Canada short.EstimatedTrustee’s Report to Creditors · 17 Jan 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredRBC | Royal Bank of Canada | — | shortfall | Estimatedper the trustee | Trustee’s Report to Creditors · 17 Jan 2023 |
| Unsecured | — | — | no recovery | Estimatedper the trustee | Trustee’s Report to Creditors · 17 Jan 2023 |
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.
As at 29 Dec 2022 · per as stated and estimated by the officer · entity - Kaiser Steel Ltd. — Assets shown as 'Estimated to produce' of $73,000.00 (from accounts receivable, all other categories $0.00); Deficiency stated as $493,720.11.
| Date | Document | File |
|---|---|---|
Trustee’s Report to Creditors
| ||
Creditors Package – First Meeting of Creditors
| ||
| Certificate of Assignment | ||
Court Order for Extension of Time for Filing Proposal
| ||
| Creditor's Package - Notice of Intention to Make a Proposal | ||
| Certificate of Notice of Intention to Make a Proposal | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Kaiser Steel Ltd.” (Bankruptcy), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/kaiser-steel-ltd