Kilne Inc.
- Proceeding
- NOIBANKRUPTCY AND INSOLVENCY ACT, RSC 1985, c B-3, AS AMENDED
- File
- BK-25-03224600-0031
- Industry
- Retail · Home, furniture & electronics retail
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.
The officer filed report no. Second Report. Kilne continued operating in the ordinary course under Trustee monitoring while pursuing a SISP that resulted in the Stalking Horse Agreement being the sole qualified bid, with a reverse vesting order structure proposed to preserve the company's tax losses and facilitate closing.
Source: Second Report to Court
The court approved a sale and investment solicitation process. A bid deadline of 2025-07-14.
Source: Proposal Order
Debtor
Kilne Inc.
Proposal trustee
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 3 orders, Jul 2025 | 245 cases on record |
| Justice Conway | Ontario Superior Court of Justice | 2 orders, Jun 2025 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeMNP | Loopstra Nixon LLP | 22 Jul 2025 | Service list · 22 Jul 2025 |
| DebtorKilne Inc. | Reconstruct LLP | 5 Jun 2025 | Order · 5 Jun 2025 |
| Interim lenderStalking Horse Bidder | Fasken Martineau DuMoulin LLP | 22 Jul 2025 | Service list · 22 Jul 2025 |
| CreditorNoelle Hjelte | Cozen O'Connor LLP | 22 Jul 2025 | Service list · 22 Jul 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | 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 |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
17 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale 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 | Approved29 Jul 2025outside 8 Aug 2025 | Order Approval and Reverse Vesting 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 NixonCounsel to the trustee | 24 Apr – 21 Jul 2025 | — | Second Report to Court · 24 Jul 2025 | ||
| MNP Ltd.Proposal trustee | — | — | — | Second Report to Court · 24 Jul 2025 |
3 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$925K
As at 23 Jul 2025Second Report to Court
Professional fees
As at
1 more reported figure, and the total 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 |
|---|---|---|
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 5 November 2026, https://proceedings.ca/case/kilne-inc