Loop Energy Inc. filed a notice of intention to make a proposal on July 17, 2024 under subsection 50.4(1) of the Bankruptcy and Insolvency Act, with Crowe MacKay & Company Ltd. as trustee under the notice, file number 11-3105465 in British Columbia. The accompanying list of creditors with claims of $250 or more is led by Pacific Economic Development Canada at $8,929,919.00, well ahead of $604,739.85 to R&D Dynamics Corporation, $530,000.00 to the related company Loop Energy Technologies (Shanghai) Co. Ltd., $295,402.03 to Osler, Hoskin & Harcourt LLP and $288,100.00 to Shenzhen Foripower Electric Co., Ltd. Sean McKinnon is listed at $164,711.84 through employment justice lawyers. The matter remains active.
The court granted an approval and vesting order. Closing terms, as extracted: Closing Time evidenced by delivery of Proposal Trustee's Certificate; sequential steps under paragraph 14.
Source: Order Made After Application (Approval and Vesting Order) dated October 28, 2024
The officer filed report no. Second Report. The Company continues to operate while pursuing a sale/investment solicitation process, with the Proposal Trustee recommending court approval of a reverse vesting order to Teralta to preserve the business as a going concern.
Source: Trustee’s Second Report to Court
The officer filed report no. First Report. Loop Energy has scaled back significantly, now with only three employees, having shut down its China manufacturing facility and terminated its factory lease, while seeking a strategic partner and running a sale and investment solicitation process (SISP) supported by interim DIP financing.
Source: Trustee’s First Report to Court
Started Loop Energy's proceeding under subsection 50.4(1) of the Bankruptcy and Insolvency Act on July 17, 2024, with Crowe MacKay & Company Ltd. as trustee.
Source: Creditors’ Package – Notice of Intention to Make a Proposal
Debtor
Loop Energy Inc.
Proposal trustee
Crowe MacKay
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Pacific Economic Development Canada · in 2 casesas of NOI filing date — regulatory/government funding agency claim — debtor: Loop Energy Inc. | $8.93M | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | R&D Dynamics Corporation · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $605K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Loop Energy Technologies (Shanghai) Co. Ltd. · in 2 casesas of NOI filing date — related party (affiliate/subsidiary of debtor) — debtor: Loop Energy Inc. | $530K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | OSLER, HOSKIN & HARCOURT LLP · in 21 casesas of NOI filing date — debtor: Loop Energy Inc. | $295K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Shenzhen Foripower Electric Co., Ltd · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $288K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Manulife Canadian Property Portfolio · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $263K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Salesforce.com, Inc., a Canada Corporation · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $257K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Daryl Musselman · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $235K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | DNA Data Networking & Assemblies Ltd · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $179K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | ATS Test Inc.as of NOI filing date — debtor: Loop Energy Inc. | $170K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Raymond James Ltd. · in 3 casesas of NOI filing date — debtor: Loop Energy Inc. | $166K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Sean McKinnon · in 2 casesas of NOI filing date — c/o employment justice lawyers - likely employee/wage related claim — debtor: Loop Energy Inc. | $165K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Vitesco Technologies GmbH · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $123K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Ben Nyland · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $91K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Aisan Corporation of America · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $84.3K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Borden Ladner Gervais LLP · in 28 casesas of NOI filing date — debtor: Loop Energy Inc. | $64.1K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Air Products Canada Ltd · in 3 casesas of NOI filing date — debtor: Loop Energy Inc. | $60.3K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | RKI Instruments Inc · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $56.3K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | The MathWorks, Inc. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $50.2K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Proemion Corp. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $48.1K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Infor (Canada), LTD. · in 5 casesas of NOI filing date — debtor: Loop Energy Inc. | $47.2K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | George Rubin · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $37.6K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | KPMG LLP · in 51 casesas of NOI filing date — debtor: Loop Energy Inc. | $37.5K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Gems Sensors Inc · in 3 casesas of NOI filing date — debtor: Loop Energy Inc. | $37.4K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Sinohykey Technology Guangzhou Co. Ltd. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $30.4K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Edison Investment Research Inc · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $23.1K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Savills UK Ltd · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $20.7K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Mubea, Inc. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $19.5K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Ultraseal America Inc. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $17.8K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Suzhou e-Legend Trading&Engineering Co., Ltd. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $17.5K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Infor (US), LLC · in 5 casesas of NOI filing date — debtor: Loop Energy Inc. | $15.4K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Fox Valve Development Corp. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $14.3K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Aston Carter (Aerotek ULC) · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $14.1K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | G&M Manufacturing · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $13.1K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Thurrock Council · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $11.5K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Leyland Hose and Silicone Services · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $10.3K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Canadian Hydrogen & Fuel Cell Association · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $8.04K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Cook Alex Intellectual Property Law · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $8.02K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Hyfindr GmbH · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $6.81K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Amphenol Technical Products International · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $6.57K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Terramax Logistics Corp. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $5.96K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Ecosan Restroom Hygiene · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $5.35K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Anna Pinto · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $3.92K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Q4 INC. · in 6 casesas of NOI filing date — debtor: Loop Energy Inc. | $3.27K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | BC Hydro · in 71 casesas of NOI filing date — debtor: Loop Energy Inc. | $1.93K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Computershare · in 36 casesas of NOI filing date — debtor: Loop Energy Inc. | $1.73K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Bartec Fire Safety Systems Ltd · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $1.28K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Net2Phone · in 3 casesas of NOI filing date — debtor: Loop Energy Inc. | $1.23K | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Quench Canada · in 12 casesas of NOI filing date — debtor: Loop Energy Inc. | $762 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Orkin Canada Corporation · in 50 casesas of NOI filing date — debtor: Loop Energy Inc. | $732 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Cintas Canada Limited · in 87 casesas of NOI filing date — debtor: Loop Energy Inc. | $427 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Federal Express Canada Ltd · in 19 casesas of NOI filing date — debtor: Loop Energy Inc. | $404 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Sunbelt Rentals of Canada Inc. · in 15 casesas of NOI filing date — debtor: Loop Energy Inc. | $336 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | 1462422 BC Ltd. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Urban Impact Recycling Ltd. · in 5 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Shaw Cablesystems · in 7 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | CRA - GST/HST - Vancouver Pacific Insolvency Intake Centre · in 3 casesas of NOI filing date — quasi-governmental / deemed trust class (GST/HST) — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | CRA - Tax - Pacific · in 71 casesas of NOI filing date — quasi-governmental / deemed trust class (Source Deductions) — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | City Core Messenger Service · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Fortis BC · in 29 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Messer Canada Inc · in 10 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Paul Cataford · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | McCarthy Tetrault LLP · in 19 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Pacific Customs Brokers Inc · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Ed McCarthy · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Fastenal Canada · in 28 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Ahsan Maredia · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Kimberly Fung · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Jim Head · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | Innovative Tool & Die Inc. · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
| Unsecured | GFL Environmental Inc 2018 (Smithrite) · in 2 casesas of NOI filing date — debtor: Loop Energy Inc. | $250 | Creditors’ Package – Notice of Intention to Make a Proposal |
Sale approved — The Proposal Trustee recommends the Court approve the Superior Bid from Teralta involving a reverse vesting orderTrustee’s Second Report to Court · 23 Oct 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Teralta Hydrogen Solutions Inc.100% of Loop's shares through a Court-approved reverse vesting order · share sale · ResidualCo: ResidualCo | $700K (mixed consideration)$100,000 in cash and $600,000 in credit bid | Approved | Trustee’s Second Report to Court |
As at 31 May 2024 · per unaudited trial balance; preliminary Information from Management, subject to change · entity - Loop Energy Inc. — Liabilities not totaled: secured claim to BMO nil (being discharged); preferred claims ~$27,000 employee wages/vacation and ~$320,000 landlord rental arrears (extent not yet determined); unsecured claims ~72 parties totaling approximately $13,088,004. Several asset values disputed as uncollectible/no realizable value by Management (e.g. AR mostly uncollectible, inventory no significant realizable value, intercompany receivables not expected to be collectible, intellectual property value unknown).
Cumulative receipts
$983K
As at 23 Oct 2024Trustee’s Second Report to Court
Cumulative disbursements
$807K
As at 23 Oct 2024Trustee’s Second Report to Court
Cash on hand
$272K
As at 23 Oct 2024Trustee’s Second Report to Court
| Date | Document | File |
|---|---|---|
Order Made After Application (Approval and Vesting Order) dated October 28, 2024
| ||
Trustee’s Second Report to Court
| ||
Order Made After Application (the Third Extension) dated October 17, 2024
| ||
| Order Made After Application (the Second Extension) dated September 25, 2024 | ||
Order Made After Application (the First Extension) dated August 1, 2024
| ||
Trustee’s First Report to Court
| ||
Creditors’ Package – Notice of Intention to Make a Proposal
| ||
Certificate of Filing
| ||
Teaser
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Loop Energy Inc.” (NOI), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/loop-energy-inc
Sources last checked · summary updated 1 September 2026 · Report a correction · Printed from proceedings.ca/case/loop-energy-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.