Maksteel Inc
Follow- Proceeding
- Interim receivershipsection 243(1) of the Bankruptcy and Insolvency Act
- File
- 02-CL-4370
Maksteel Inc is the subject of an active interim receivership proceeding in the Ontario Superior Court of Justice, brought under section 47(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, S.B-3 and carried on the Commercial List under court file 02-CL-4370. The applicant is Bank of America, National Association, acting through its Canada branch as successor and assign of Bank of America Canada as of January 1, 2002, and acting as agent for a syndicate of lenders. The proceeding dates from September 17, 2014 and remains open.
The court appointed Ernst & Young Inc. as receiver, on the application of Bank of America, National Association (acting through its Canada Branch), a successor and assign of Bank of America Canada as of January 1, 2002 as agent for a syndicate of lenders. Court file 02-CL-4370.
Source: Re-Appointment of Receiver Order
1 earlier update, back to 17 September 2014 — subscribers.
Debtor
Maksteel Inc
Interim receiver
EY
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 556 casesas of late 2002 (settlement) — Two equipment leases between Royal Bank and Maksteel; claim against sale proceeds — Amount includes interest of $56,917.40; settled and paid from a $5,010,000.09 reserve held by Interim Receiver, with balance distributed to the Banks — debtor: Maksteel Inc. | $2.31M | Motion Record, returnable |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Unsecured creditors: no distribution.FinalMotion Record, returnable · 11 Sep 2014
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredBanks (syndicate of lenders, secured lender) | Bank of America, National Association, as agent for a syndicate of lenders | — | shortfall | Finalper the receiver | Motion Record, returnable · 11 Sep 2014 |
| Unsecured | other creditors of the Companies | — | no distribution | Finalper the receiver | Motion Record, returnable · 11 Sep 2014 |
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.
| Date | Document | File |
|---|---|---|
Amendment of Style of Cause Order
| PDF · Subscribers | |
| Endorsement | PDF · Subscribers | |
Motion Record, returnable
| PDF · Subscribers | |
Re-Appointment of Receiver Order
| 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., “Maksteel Inc” (Interim receivership), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/maksteel-inc