O.B. Wiik Canada Ltd.
- Proceeding
- ProposalBANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, C. B-3, AS AMENDED
- File
- 32-2714829
O.B. Wiik Canada Ltd. remains in an active Division I proposal proceeding under the Bankruptcy and Insolvency Act, commenced May 5, 2021 in the Ontario Superior Court of Justice under court file no. 32-2714829, with KSV Restructuring Inc. acting as Proposal Trustee. The proposal was filed March 24, 2021. On the Statement of Affairs sworn that date, the company reported total assets of $150,000 in book value against total liabilities of $2,726,000; the Proposal Trustee assessed the estimated realizable value of the assets at $19,000, all cash, and estimated recovery in a bankruptcy at less than one cent on the dollar. Creditor claims include a $2.5 million intercompany claim of parent and sponsor O.B. Wiik A.S., which has agreed to subordinate that claim to Proven Creditors if the proposal is implemented and is excluded from the Unsecured Creditor Pool. Excluding it, approximately $202,000 is owed to other unsecured creditors.
A claims procedure has been established — see the order for deadlines.
The officer filed report no. First Report. The Company has been winding down its operations following the NOI filing, no longer seeking new customers or performing work on existing projects, and its office lease has been disclaimed while inventory remains stored at a Dunnville, Ontario facility.
Source: First Report to Court of the Proposal Trustee dated May 3, 2021
Notice of Hearing of Application for Court Approval of Proposal dated April 23, 2021 — Notice of hearing
Undated filings1 — no date appears on the document · show
Debtor
O.B. Wiik Canada Ltd.
Proposal trustee
KSV
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hainey | Ontario Superior Court of Justice | 1 order, May 2021 | 211 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeKSV Restructuring | Goldman Sloan Nash & Haber LLP | 12 May 2021 | Factum · 12 May 2021 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | O.B. Wiik A.S. ("O.B. Norway"/"Sponsor") - Intercompany Claimas of Proposal filing date (March 24, 2021) — Related party (parent/sponsor); Sponsor has agreed to subordinate this claim to Proven Creditors if Proposal is implemented; excluded from Unsecured Creditor Pool participation — debtor: O.B. Wiik Canada Ltd. | $2.5M | Proposal Trustee's Report to Creditors dated April 1, 2021 |
| Unsecured |
1 more claim in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution. O.B. Wiik A.S. (the Sponsor) a distribution.EstimatedBrief of Authorities · 12 May 2021
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the planimplementedper the proposal trustee | First Report to Court of the Proposal Trustee · 3 May 2021 |
| Preferred | — | — | paid in full | Under the planimplementedper the proposal trustee | First Report to Court of the Proposal Trustee · 3 May 2021 |
| Unsecured | creditors in Option A | — | conditional | Estimatedper the proposal trustee | Brief of Authorities · 12 May 2021 |
| UnsecuredIntercompany Claim | O.B. Wiik A.S. (the Sponsor) | estimated | a distributionconditional | Under the planimplementedper the debtor | Proposal filed March 24, 2021 · 24 Mar 2021 |
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.
2 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
Cash on hand
$19K
As at 24 Mar 2021First Report to Court of the Proposal Trustee dated May 3, 2021
The 2 totals 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 |
|---|---|---|
| Certificate of Full Performance of Proposal dated June 21, 2021 | PDF · Subscribers | |
Court Order and Endorsement of Justice Hainey dated May 19, 2021
| PDF · Subscribers | |
Brief of Authorities dated May 12, 2021
| PDF · Subscribers | |
Factum of Proposal Trustee dated May 12, 2021
| PDF · Subscribers | |
Motion Record returnable May 19, 2021
| PDF · Subscribers | |
First Report to Court of the Proposal Trustee dated May 3, 2021
| PDF · Subscribers | |
| Notice of Hearing of Application for Court Approval of Proposal dated April 23, 2021 | PDF · Subscribers | |
Notice of Proposal to Creditors dated April 1, 2021
| PDF · Subscribers | |
Proposal Trustee's Report to Creditors dated April 1, 2021
| PDF · Subscribers | |
| Certificate of Filing a Proposal dated March 24, 2021 | PDF · Subscribers | |
Proposal filed March 24, 2021
| PDF · Subscribers | |
| Certificate of Filing a Notice of Intention to Make a Proposal | PDF · Subscribers | |
| Proof of Claim Form and Voting Letter | 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., “O.B. Wiik Canada Ltd.” (Proposal), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/o-b-wiik-canada-ltd