Kilne Inc.
Follow- Proceeding
- NOIBANKRUPTCY AND INSOLVENCY ACT, RSC 1985, c B-3, AS AMENDED
- File
- BK-25-03224600-0031
Kilne Inc. is proceeding under a notice of intention to make a proposal pursuant to section 50.4 of the Bankruptcy and Insolvency Act, with an order dated July 29, 2025 extending the stay of proceedings to August 15, 2025. The creditor list filed in the NOI process, drawn from unaudited internal books and records, shows liabilities of $4,529,000 as at the filing date, excluding SAFE obligations on account of their equity-like nature. Assets are not quantified in total and consist mainly of inventory carried at a cost value of about $1.8 million, brand goodwill and intellectual property. Gettis Engineering Services Ltd., a director-affiliated related party, is the sole secured creditor per a PPSA search current to May 20, 2025, owed $3,475,000 on first-ranking security over inventory and proceeds, with pre-NOI bulge financing estimated at $163,583 secured against all personal property. The Proposal Trustee's independent counsel, Loopstra Nixon LLP, confirmed the security's validity subject to customary assumptions and qualifications.
11 earlier updates, back to 16 May 2025 — subscribers.
Debtor
Kilne Inc.
Proposal trustee
MNP
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Gettis Engineering Servicesas of NOI filing date — Marked "Secured" in Creditor Listing attached to NOI; no further security description given — Same address (29 Anndale Rd, Scarborough) as creditor Mike Gettis, who signed the NOI on behalf of Kilne Inc. as its representative — likely a related party (director/officer or affiliated entity) — debtor: Kilne Inc. | $3.48M | Notice to Creditors of the Notice of Intention |
Sale approved — The Court approved the stalking horse share purchase agreement and the reverse vesting transaction.Order Approval and Reverse Vesting Order · 29 Jul 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Kilne Cookware Inc.Stalking horseall of the right, title and interest in and to the Post-Consolidation Shares (as defined in the Stalking Horse Agreement) in the Purchaser · share sale · ResidualCo: 1001303243 Ontario Inc. · agreement 29 May 2025 | Subscribers | Approved5 Jun 2025outside 8 Aug 2025 | Proposal Order |
2 engagements · 2 firms — latest: Loopstra Nixon, 24 Apr – 21 Jul 2025Second Report to Court · 24 Jul 2025
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Loopstra NixonProposal trustee | 24 Apr – 21 Jul 2025 | ••• | — | ••• | Second Report to Court · 24 Jul 2025 |
| MNP Ltd.Proposal trustee | — | — | — | ••• | Second Report to Court · 24 Jul 2025 |
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Cumulative receipts
$925K
As at 24 Jul 2025Second Report to Court
| Date | Document | File |
|---|---|---|
Endorsement of Justice Steele
| PDF · Subscribers | |
Order - Stay Extension
| PDF · Subscribers | |
Order Approval and Reverse Vesting Order
| PDF · Subscribers | |
| Factum of Kilne Inc. | PDF · Subscribers | |
Second Report to Court
| PDF · Subscribers | |
| Service List | PDF · Subscribers | |
Endorsement of Justice Conway
| PDF · Subscribers | |
Proposal Order
| PDF · Subscribers | |
| Factum | PDF · Subscribers | |
First Report to Court
| PDF · Subscribers | |
Supplemental Motion Record
| PDF · Subscribers | |
Motion Record
| PDF · Subscribers | |
Notice to Creditors of the Notice of Intention
| PDF · Subscribers | |
| Certificate of Filing of a Notice of Intention | 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., “Kilne Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/kilne-inc