O2 Industries Inc.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-21-00663208-00CL
O2 Industries Inc. was placed in court-appointed receivership on 25 May 2021 by the Ontario Superior Court of Justice (Commercial List), under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, on the application of the Kensington Private Equity Fund (court file CV-21-00663208-00CL). RSM Canada Limited was appointed as receiver. Kensington Private Equity Fund, a secured creditor, is owed approximately $2,416,068.08. Unsecured creditors include Clearbanc at $825,180.66, Huge Toronto at $466,488.76, and Sid Lee Inc. at $279,836.80. A book-value statement of assets as at 30 April 2021 totalled $10,047,873, though the document states the estimated realizable value is much lower. The proceeding remains active.
Motion Record of the Receiver returnable February 25, 2022 — Application / notice of application
10 earlier updates, back to 25 May 2021 — subscribers.
Undated filings1 — no date appears on the document · show
1 filings carry no date on their face — subscribers.
Debtor
O2 Industries Inc.
Receiver
TDB Restructuring
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 2 orders, May 2021 – Feb 2022 | 285 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverTDB Restructuring | Chaitons LLP | — | Service list |
| Applicant | Goodmans LLP | 27 May 2021 | Order · 27 May 2021 |
| ApplicantKensington Private Equity Fund | Goodmans LLP | — | Service list |
| CreditorRSM Canada Limited | Chaitons LLP | 23 Jul 2021 | Order · 23 Jul 2021 |
| CreditorSigma Worldwide, LLC | Blake, Cassels & Graydon LLP | — | Service list |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Kensington Private Equity Fund · in 3 casesListed as approximate amount owed to creditor appearing to hold security interest; not audited or verified by Receiver — debtor: O2 Industries Inc. · as of 4 Jun 2021 | $2.42M | Notice and Statement of the Receiver dated June 4, 2021 |
Closed · the record states no distribution outcome.
11 engagements · 2 firms — latest: RSM Canada Limited, 1 Jul 2021 – 31 Jan 2022Motion Record of the Receiver · 25 Feb 2022
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Chaitons LLPCounsel to the receiverperiod 2 of 2 | to 31 May 2021Sought | — | — | — | Second Report of the Receiver · 7 Feb 2022 |
| Chaitons LLPCounsel to the receiverperiod 1 of 2 | — | — | — | — | First Report of the Receiver · 14 Jul 2021 |
| RSM Canada LimitedReceiverperiod 9 of 9 | 1 Jul 2021 – 31 Jan 2022 | — | — | — | Motion Record of the Receiver · 25 Feb 2022 |
| RSM Canada LimitedReceiverperiod 9 of 9 | 1 Jan – 31 Jan 2022 | — | — | —3 people | Motion Record of the Receiver · 25 Feb 2022 |
| RSM Canada LimitedReceiverperiod 7 of 9 | 1 Dec – 31 Dec 2021 | — | — | —4 people | Motion Record of the Receiver · 25 Feb 2022 |
| RSM Canada LimitedReceiverperiod 6 of 9 | 1 Nov – 30 Nov 2021 | — | — | —2 people | Motion Record of the Receiver · 25 Feb 2022 |
| RSM Canada LimitedReceiverperiod 5 of 9 | 1 Oct – 31 Oct 2021 | — | — | —3 people | Motion Record of the Receiver · 25 Feb 2022 |
| RSM Canada LimitedReceiverperiod 4 of 9 | 1 Sep – 30 Sep 2021 | — | — | —4 people | Second Report of the Receiver · 7 Feb 2022 |
| RSM Canada LimitedReceiverperiod 3 of 9 | 1 Aug – 31 Aug 2021 | — | — | —3 people | Motion Record of the Receiver · 25 Feb 2022 |
| RSM Canada LimitedReceiverperiod 2 of 9 | 1 Jul – 31 Jul 2021 | — | — | —5 people | Motion Record of the Receiver · 25 Feb 2022 |
| RSM Canada LimitedReceiverperiod 1 of 9 | to 30 Jun 2021Sought | — | — | — | Second Report of the Receiver · 7 Feb 2022 |
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
| Endorsement dated February 25, 2022 | PDF · Subscribers | |
Motion Record of the Receiver returnable February 25, 2022
| PDF · Subscribers | |
Order dated February 25, 2022
| PDF · Subscribers | |
| Receiver’s Discharge Certificate | PDF · Subscribers | |
Second Report of the Receiver dated February 7, 2022
| PDF · Subscribers | |
| Approval and Vesting Order dated July 23, 2021 | PDF · Subscribers | |
Approvals Order dated July 23, 2021
| PDF · Subscribers | |
Motion Record of the Receiver returnable July 23, 2021
| PDF · Subscribers | |
First Report of the Receiver dated July 14, 2021
| PDF · Subscribers | |
Notice and Statement of the Receiver dated June 4, 2021
| PDF · Subscribers | |
Receivership Order dated May 27, 2021
| PDF · Subscribers | |
| Pre-Filing Report of the Proposed Receiver | PDF · Subscribers | |
Application Record dated May 25, 2021
| PDF · Subscribers | |
Service List
| 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., “O2 Industries Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/o2-industries-inc