Kaiser Steel Ltd.
- Proceeding
- BankruptcyBIA
- File
- VLC-B-220474
- Industry
- Manufacturing · Metals & fabrication
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.
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
The Bowra Group
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesDeemed Trust - Source Deductions — Deemed trust class; estimated claim — debtor: Kaiser Steel Ltd. | $100K | Trustee’s Report to Creditors |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured |
5 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured 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 ·
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 Report to Creditors
| PDF · Subscribers | |
Creditors Package – First Meeting of Creditors
| PDF · Subscribers | |
| Certificate of Assignment | PDF · Subscribers | |
Court Order for Extension of Time for Filing Proposal
| PDF · Subscribers | |
| Creditor's Package - Notice of Intention to Make a Proposal | PDF · Subscribers | |
| Certificate of Notice of Intention to Make a Proposal | 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., “Kaiser Steel Ltd.” (Bankruptcy), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/kaiser-steel-ltd