Proceedings.

Kestrel Industrial Group Inc.

Active — Sale approvedFollow
Proceeding
Receivership (court-appointed)BIA s. 243
File
2601-04217
Filings held9
Last activity28 Jul 2026
On the record239 days
  1. Appointed12 Mar 2026
  2. Claims22 May 2026
  3. Sale process30 Jun 2026
  4. Sale approved28 Jul 2026
  5. Distribution—
  6. Discharge—
OverviewSummary updated

Kestrel Industrial Group Inc. is in receivership before the Court of King's Bench of Alberta, filed 12 March 2026; Fairhaven Advisory Inc. was appointed receiver and manager on the application of Corval Capital Corp., the company's senior secured lender, owed approximately $38.4 million. The case is at the sale-approval stage: on 28 July 2026 the court granted an approval and vesting order for the sale of substantially all assets to Foundry Metalworks ULC, selected from two qualified bids in a court-supervised sale process. Closing is expected on or before 21 August 2026.

The claims bar date of 22 May 2026 has passed. Operations continue at reduced capacity at the Calgary fabrication plant pending closing; the Edmonton yard was idled in May. The purchase price is sealed pending closing. The receiver is expected to seek a distribution order following closing.

Claims processIf you are owed money

The claims bar date has passed — claims were due by

ContactHartwell Advisory Inc. · Claims Intake · claims@hartwell.example

Per the Claims procedure order dated 9 April 2026.

Case updates11 dated entries
#Sale

The court granted an approval and vesting order for the sale of substantially all assets to Foundry Metalworks ULC. Confidential appendices to the receiver's third report were sealed. Closing is expected on or before 21 August 2026.

Source: Approval and vesting order

#Report

The receiver's third report recommended the Foundry Metalworks bid as the highest and best offer from the sale process, which drew 41 contacted parties, 12 executed non-disclosure agreements, and two qualified bids. The report seeks approval of the transaction and sealing of pricing terms.

Source: Third report of the receiver

#Sale

The bid deadline under the court-approved sale process passed with two qualified bids received. The receiver entered negotiations with the leading bidder.

Source: Third report of the receiver

#Report

The receiver's second report filed an interim statement of receipts and disbursements and reported operations continuing at reduced capacity at the Calgary plant, with the Edmonton yard idled.

Source: Second report of the receiver

#Claims

A claims procedure order set the claims bar date at 22 May 2026. Known creditors were to be mailed claim packages by 17 April.

Source: Claims procedure order

#Report

The receiver's first report addressed cash flow to 30 June, the termination of approximately 140 of 212 employees and the initiation of the WEPPA process, and arrangements with critical suppliers.

Source: First report of the receiver

#Order

On the application of Corval Capital Corp., owed approximately $38.4 million under a 2023 credit agreement, the court appointed Fairhaven Advisory Inc. receiver and manager over all assets, undertakings and properties of the company, and imposed a stay of proceedings.

Source: Receivership order

Parties

Debtor

Kestrel Industrial Group Inc.

Alberta corporate access number 2019341877

Applicant · Secured creditor

Corval Capital Corp.

Receiver

Fairhaven Advisory Inc.

LIT licence number LIT-4471-AB

Purchaser

Foundry Metalworks ULC

BC incorporation number BC1188402

Bench and counselPer the orders and service lists on the record

Counsel of record

PartyCounselFirst seenSource
ReceiverFairhaven Advisory Inc.Boyd Lachance LLP——
ApplicantCorval Capital Corp.Whitcombe Harris LLP——
AssetsPer the sale order and receiver’s reports
AssetDetailsDispositionSource
Accounts receivableBook value $6.1M at appointmentExcludedFirst report of the receiver
Included in sale
Included in sale
Included in sale
Included in sale
Excluded

5 more asset line items

Every asset, what the filings say of it, and where they say it.

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Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
Court-ordered charges
1Court-ordered chargesReceiver's borrowing charge — court-ordered cap$2.5MReceivership order
1Court-ordered charges
Pre-filing debt
2WEPPA superpriority
3Deemed trusts (CRA and other)
4Secured
5PMSI / lessors
8Unsecured

6 more claims in 6 classes The stack holds Court-ordered charges, WEPPA superpriority, Deemed trusts (CRA and other), Secured, PMSI / lessors and Unsecured claims.

Every creditor and every amount, drawn to scale.

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Sale processAs stated in the filings
Purchaser
Foundry Metalworks ULCApproval and vesting order · 28 Jul 2026
RecoveriesAs stated in the filings

Unsecured creditors: no distribution. Corval Capital Corp. paid in full.EstimatedThird report of the receiver · 15 Jul 2026

ClassCreditorClaimsRecoveryBasisSource
Securedthe senior secured lenderCorval Capital Corp.assertedpaid in fullEstimatedper the receiverThird report of the receiver · 15 Jul 2026
Unsecured——no distributionEstimatedper the receiverThird report of the receiver · 15 Jul 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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Fees and ratesAs stated in the filings

1 engagement · 1 firm — Fairhaven Advisory Inc., 12 Mar – 30 Jun 2026, soughtThird report of the receiver · 15 Jul 2026

FirmPeriodHoursFeesRatesSource
Fairhaven Advisory Inc.Receiver12 Mar – 30 Jun 2026Sought3 peopleThird report of the receiver · 15 Jul 2026
3 people — Fairhaven Advisory Inc., 12 Mar – 30 Jun 2026 · 12 blurred figures
NameTitleHoursRateFees
Dana WhitlockPartner
Priya RamanSenior Manager
Tom AchebeManager
Other staff and administrative—

15 blurred figures above

What the firm billed, and each person’s hours and rate — each as the filing states it, with its source.

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Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing

As at ·

Cumulative receipts

$9.7M

As at 30 Jun 2026Third report of the receiver

Cash on hand

As at

Professional fees

As at

2 more reported figures, and the 2 totals the debtor stated at filing

Each one as the filing states it, with its source.

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Documents
9 filings
DateDocumentFile
Approval and vesting order
  • Order date 28 July 2026
  • Purchaser Foundry Metalworks ULC
PDF · Subscribers
Third report of the receiver
PDF · Subscribers
Confidential appendices
Sealed by order of the court — not part of the public record.
Sealed
Sale process approval orderPDF · Subscribers
Second report of the receiverPDF · Subscribers
Claims procedure order
  • Claims bar date 22 May 2026
  • Claims contact Firm: Hartwell Advisory Inc. · Email: claims@hartwell.example · Attention: Claims Intake
PDF · Subscribers
First report of the receiverPDF · Subscribers
Affidavit of D. Whelan (application record)PDF · Subscribers
Receivership orderPDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Kestrel Industrial Group Inc.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 5 November 2026, https://proceedings.ca/case/kestrel-industrial-group-inc

Sources are not crawled for this matter — the record arrives by direct ingest · summary updated 3 August 2026 · Report a correction · Printed from proceedings.ca/case/kestrel-industrial-group-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.