Modern Acrylic Systems Ltd.
Follow- Proceeding
- Receivership (court-appointed)SECTION 243 OF THE BANKRUPTCY AND INSOLVENCY ACT R.S.C. 1985, c. B-3 AS AMENDED
- File
- CI 22-01-35454
Modern Acrylic Systems Ltd. is the subject of active insolvency proceedings in Manitoba, brought by The Toronto-Dominion Bank under section 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended. The matter carries court file number CI 22-01-35454 in the Queen's Bench. Grant Thornton Limited is the officer appointed in the proceeding, in the role of receiver. The matter remains active.
The officer filed report no. Receiver's Second Report. The Company ceased operations in April 2022 and assigned into bankruptcy; the Receiver has since realized upon all of the Company's property via auction or private sale and considers the receivership administration substantially complete, pending a proposed distribution and discharge.
6 earlier updates, back to 13 May 2022 — subscribers.
Debtor
Modern Acrylic Systems Ltd.
Receiver
Doane Grant Thornton
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDoane Grant Thornton | Taylor McCaffrey LLP | 18 May 2022 | Service list · 18 May 2022 |
| Applicant | MLT Aikins LLP | 18 May 2022 | Service list · 18 May 2022 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | The Toronto-Dominion Bank · in 111 casesDescribed as the Bankrupt's primary secured creditor; amount plus accruing interest and costs; as of receivership commencement — debtor: Modern Acrylic Systems Ltd. · as of 18 May 2022 | $291K | Notice & Statement of Receiver dated May 26, 2022 |
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.
1 engagement · 1 firm — (firm not named), 18 May 2022 – 27 Apr 2023Receiver's Second Report · 27 Apr 2023
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| (firm not named)Receiverfirm not named in the heading | 18 May 2022 – 27 Apr 2023 | — | — | — | Receiver's Second Report · 27 Apr 2023 |
Cash on hand
$391K
As at 27 Apr 2023Receiver's Second Report dated April 27, 2023
| Date | Document | File |
|---|---|---|
Notice of Motion returnable May 17, 2023
| PDF · Subscribers | |
Receiver's Second Report dated April 27, 2023
| PDF · Subscribers | |
| Notice of Motion dated June 6, 2022 | PDF · Subscribers | |
| Receiver's First Report dated June 6, 2022 | PDF · Subscribers | |
Notice & Statement of Receiver dated May 26, 2022
| PDF · Subscribers | |
Service List dated May 18, 2022
| PDF · Subscribers | |
Application brief dated May 16, 2022
| PDF · Subscribers | |
| Affidavit of D Quinn dated May 13, 2022 | PDF · Subscribers | |
Notice of Application dated May 13, 2022
| 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., “Modern Acrylic Systems Ltd.” (Receivership (court-appointed)), Court of King's Bench of Manitoba. Retrieved 20 September 2026, https://proceedings.ca/case/modern-acrylic-systems-ltd