Métaux M.P.I. Inc
- Proceeding
- ProposalSection 50.4(9) of the Bankruptcy and Insolvency Act
- File
- 700-11-019008-194
Métaux M.P.I. Inc. has a Division I proposal before its creditors under the Bankruptcy and Insolvency Act in Quebec, filed following a notice of intention. Internal, unreviewed financial statements put the company's book-value assets at $2,043,301 against liabilities of $2,084,709 as at March 31, 2019; the Statement of Affairs as at September 16, 2019 shows assets of $1,163K at estimated net realizable value, against $1,974K of book value, and liabilities of $3,513K. Laurentian Bank of Canada holds a conventional hypothec over all assets for $328,000 on a line of credit, and Wells Fargo Equipment Finance is owed $303,000 against waterjet equipment financed in February 2019. Revenu Québec and the Canada Revenue Agency claim source-deduction arrears of $228K and $31K respectively as at September 24, 2019, carrying super priority. Related party 9132-8914 Québec Inc., owed $1,669K, has confirmed it will not file a claim in the proposal and has postponed it, leaving $1,004K of other unsecured claims.
A claims procedure has been established — see the order for deadlines.
Report of the trustee on the financial situation of the debtor and on the proposal — Court officer report
The officer filed a report. The debtor continues to operate, with sales higher than forecast, while pursuing refinancing, sale of its building and discussions with seven potential investors (one has withdrawn), with no term sheet received. A viable proposal depends on extending the LBC forbearance agreement, which terminates August 1, 2019.
Statement of projected cash flow for the period from April 27 to June 22, 2019 — Cash-flow statement
Second Motion to extend the delay for filing proposal was filed. Court file 700-11-019008-194.
Source: Second Motion to extend the delay for filing proposal
Report on the state of the Insolvent Person’s business and financial affairs — Court officer report
Debtor
Métaux M.P.I. Inc
Proposal trustee
PwC
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Revenu Québec - DAS statement of accountDeemed trust / DAS arrears (super priority); supersedes SOA figure of $171K as of 2019-09-16. — debtor: Métaux M.P.I. Inc. · as of 24 Sep 2019 | $228K | Report of the trustee on the financial situation of the debtor and on the proposal |
| 3 | Deemed trusts (CRA and other) | |||
| 3 | Deemed trusts (CRA and other) | |||
| 3 | Deemed trusts (CRA and other) | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
8 more claims in 4 classes The stack holds Deemed trusts (CRA and other), Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansUnsecured creditors: a distribution. 9132 no distribution.Under the plan · implementedReport of Trustee on Proposal · 16 Oct 2019
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | listed | conditional | Under the planimplementedper the trustee | Report of Trustee on Proposal · 16 Oct 2019 |
| Unsecured | 9132 | estimated | no distributionconditional | Under the planimplementedper the trustee | Report of Trustee on Proposal · 16 Oct 2019 |
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.
4 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansAs at ·
Cumulative receipts
$677K
As at 31 Jul 2019Report on the state of the Insolvent Person’s business and financial affairs, including the Statement of projected cash flow for the period from July 28 to September 21, 2019
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
| Certificate of full performance of Proposal | PDF · Subscribers | |
Judgement (en français seulement)
| PDF · Subscribers | |
| Motion to approve a proposal | PDF · Subscribers | |
Report of Trustee on Proposal
| PDF · Subscribers | |
| Notice of Hearing of Application for Court Approval of Proposal | PDF · Subscribers | |
Notice of proposal to creditors
| PDF · Subscribers | |
| Proof of claim form and general proxy | PDF · Subscribers | |
| Proposal | PDF · Subscribers | |
Report of the trustee on the financial situation of the debtor and on the proposal
| PDF · Subscribers | |
Voting letter
| PDF · Subscribers | |
Report on the state of the Insolvent Person’s business and financial affairs, including the Statement of projected cash flow for the period from July 28 to September 21, 2019
| PDF · Subscribers | |
| Report on the state of the Insolvent Person’s business and financial affairs, including the Statement of projected cash flow for the period from June 8 to August 3, 2019 | PDF · Subscribers | |
| Order extending the delay for filing a proposal | PDF · Subscribers | |
| Third Motion to extend the delay for filing proposal | PDF · Subscribers | |
| Statement of projected cash flow for the period from April 27 to June 22, 2019 | PDF · Subscribers | |
Second Motion to extend the delay for filing proposal
| PDF · Subscribers | |
| Report on the state of the Insolvent Person’s business and financial affairs | PDF · Subscribers | |
Motion to extend the delay for filing proposal
| PDF · Subscribers | |
Notice of Filing of Intention to Make a Proposal
| 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., “Métaux M.P.I. Inc” (Proposal), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/m-taux-m-p-i-inc