ONEnergy Inc.
Follow- Proceeding
- Proposals. 50 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
- File
- BK-23-02949717-0031
ONEnergy Inc., formerly Look Communications Inc., is in a Division I proposal under s. 50 of the Bankruptcy and Insolvency Act, commenced August 2, 2023 in the Ontario Superior Court of Justice in Bankruptcy and Insolvency under court file 31-8949717, with B. Riley Farber Inc. named as applicant. On internally prepared, unaudited figures as at March 31, 2023, the company showed assets of $37,325.95 against preferred claims of $13,794.87, unsecured claims of $9,789,486.33 and contingent claims of $1.00; estimated realization on assets in a bankruptcy scenario is nil after payment to the secured lender. That lender, director and shareholder Stephen J.J. Letwin, holds a $450,000 promissory note dated May 26, 2023 funding the restructuring, while roughly $4,490,000 advanced under earlier notes is treated as unsecured. As at the trustee's June 13, 2023 report, no proofs of claim had been received. The proceeding remains active.
5 earlier updates, back to 17 January 2024 — subscribers.
Debtor
ONEnergy Inc.
Proposal trustee
GlassRatner
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Rappos | Ontario Superior Court of Justice | 2 orders, Jan 2024 | 5 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorONEnergy Inc. | Miller Thomson LLP | 28 Nov 2023 | Endorsement · 28 Nov 2023 |
| CreditorNot proved | Dentons Canada LLP · Fasken Martineau DuMoulin LLP | 2 Aug 2023 | Application · 2 Aug 2023 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Stephen J.J. Letwin (Secured Lender)Promissory Note dated May 26, 2023 to cover costs of the restructuring — Related party: Letwin is a director and shareholder of the Debtor. Secured Lender also advanced approx. $4,490,000 under earlier promissory notes, treated as Unsecured Claims in the Proposal (not secured). — debtor: ONEnergy Inc. (fka Look Communications Inc.) · as of 26 May 2023 | $450K | Creditors Package |
Unsecured creditors: paid in full.Under the plan · sanctionedMotion Record · 31 Jul 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the plansanctionedper the proposal trustee | Motion Record · 31 Jul 2023 |
| Preferred | — | — | paid in full | Under the plansanctionedper the debtor | Motion Record · 31 Jul 2023 |
| Unsecured | — | — | paid in full | Under the plansanctionedper the proposal trustee | Motion Record · 31 Jul 2023 |
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.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
Order of Associate Justice Rappos (Approving Proposal)
| PDF · Subscribers | |
Endorsement of Associate Justice Rappos
| PDF · Subscribers | |
Motion Record (returnable January 23, 2024)
| PDF · Subscribers | |
Endorsement of Associate Justice Ilchenko
| PDF · Subscribers | |
Motion Record
| PDF · Subscribers | |
Minutes of Meeting of Creditors to Consider Proposal
| PDF · Subscribers | |
Creditors Package
| PDF · Subscribers | |
| Certificate of Filing of 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., “ONEnergy Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/onenergy-inc