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
Debtor
Loop Energy Inc.
Proposal trustee
Crowe MacKay
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | CRA - Tax - Pacific · in 77 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 |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
70 more claims in 1 class The stack holds Deemed trusts (CRA and other) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale 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 | Subscribers | Approved | Trustee’s Second Report to Court |
As at ·
Cumulative receipts
$983K
As at 23 Oct 2024Trustee’s Second Report to Court
Cumulative disbursements
As at
Cash on hand
As at
2 more reported figures, 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 |
|---|---|---|
Order Made After Application (Approval and Vesting Order) dated October 28, 2024
| PDF · Subscribers | |
Trustee’s Second Report to Court
| PDF · Subscribers | |
Order Made After Application (the Third Extension) dated October 17, 2024
| PDF · Subscribers | |
| Order Made After Application (the Second Extension) dated September 25, 2024 | PDF · Subscribers | |
Order Made After Application (the First Extension) dated August 1, 2024
| PDF · Subscribers | |
Trustee’s First Report to Court
| PDF · Subscribers | |
Creditors’ Package – Notice of Intention to Make a Proposal
| PDF · Subscribers | |
Certificate of Filing
| PDF · Subscribers | |
Teaser
| 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., “Loop Energy Inc.” (NOI), Supreme Court of British Columbia. Retrieved 4 November 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.