Planet Energy (Ontario) Corp. and Planet Energy (B.C.) Corp.
Follow- Proceeding
- Receivership (court-appointed)Section 47.1(1) of the Bankruptcy And Insolvency Act
- File
- 31-2943175
Planet Energy (Ontario) Corp. and Planet Energy (B.C.) Corp. remain in a court-appointed receivership before the Ontario Superior Court of Justice (Commercial List), under court files 31-2943175 and 31-2943168, which began on June 8, 2023 when KSV Restructuring Inc. was appointed interim receiver under section 47.1(1) of the Bankruptcy and Insolvency Act on the application of All Communications Network of Canada, Co. A Statement of Affairs for Planet Energy (Ontario) Corp. as at September 27, 2023 puts that entity's assets at $9,300,844.43 against liabilities of $36,547,637.22, a reported deficiency of $27,246,792.79. Unsecured claims total $35,614,637.22, of which $35,184,894.00 is owed to All Communication Network (ACN) of Canada Co.; Scotiabank is listed as secured for a balance of $933,000.00, with no preferred claims. The proceeding is active.
Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 — Notice to creditors
Motion Record of All Communications Network of Canada, Co returnable September 26, 2023 — Application / notice of application
Motion Record of the Interim Receiver returnable August 17, 2023 — Application / notice of application
Motion Record of the Interim Receiver returnable July 4, 2023 — Application / notice of application
Supplemental Motion Record of the Interim Receiver returnable July 4, 2023 — Application / notice of application
Order appointing KSV Restructuring Inc. interim receiver of both Planet Energy entities under section 47.1(1) of the BIA, on the application of All Communications Network of Canada, Co.
Source: Interim Receivership Appointment Order dated June 8, 2023
Debtor
Planet Energy (Ontario) Corp. and Planet Energy (B.C.) Corp.
Interim receiver
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 4 orders, Jun 2023 | 220 cases on record |
| Justice Osborne | Ontario Superior Court of Justice | 3 orders, Jul 2023 | 146 cases on record |
| Justice Conway | Ontario Superior Court of Justice | 2 orders, Aug 2023 | 285 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorAll Communications Network of Canada, Co | Rothstein LLP | 2 Jun 2023 | Factum · 2 Jun 2023 |
| Creditorunder Proposal, Planet Energy (Ontario) Corp. and Planet Energy (B.C.) Corp | Stikeman Elliott LLP | 2 Jun 2023 | Application · 2 Jun 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Scotiabank · in 54 casesListed as secured creditor per list 'B' in Statement of Affairs — debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $933K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | All Communication Network (ACN) of Canada Co.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $35.2M | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Enbridge · in 71 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $231K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | KPMG LLP · in 51 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $70K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Easybooks Inc.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $29K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | ERTH Business Technologies Inc.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $26.8K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | EasyTPV Inc.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $14.7K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Amex Bank of Canada · in 48 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $12.2K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Silvestri Energy Services Ltd.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $8.39K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | TNC 5775 Yonge Street Ltd.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $7.44K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Equifax Canada Co. · in 4 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $5.94K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Sunlife Assurance Company of Canada · in 2 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $5.87K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | PTMJ Limiteddebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $4.36K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | EC Infosystems, LLCAddress in Houston, TX USA — debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $3.44K USD | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Lester Plumberdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $2.68K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | eStruxture Data Centers Inc. · in 4 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $2.4K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Greg Berrydebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $1.9K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | IXICA Communications Inc.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $1.17K | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Aizan Technologies Inc.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $755 | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Cogent Canada, Inc.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $666 | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Telus · in 115 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $587 | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Collection Group of Canada Inc. · in 5 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $419 | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Shell Energy North America (US) · in 2 casesAddress in Houston, TX USA — debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $1 USD | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Shell Energy North America (Canada) · in 2 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $1 | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Prime Real Estate Holdings Inc.debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $1 | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Export Development Canada · in 99 casesdebtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $1 | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
| 8 | Unsecured | Shell North America (Canada)debtor: Planet Energy (Ontario) Corp. · as of 27 Sep 2023 | $1 | Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023 |
No acceptable bid — the Interim Receiver conducted a Court-approved sale process (the 'Sale Process'), which resulted in no viable offers for the Company's business and assetsTrustee's Report on Preliminary Administration dated October 17, 2023 · 17 Oct 2023
2 engagements · 2 firms — latest: DLA Piper (Canada) LLP, 11 May – 31 Aug 2023Motion Record of All Communications Network of Canada, Co · 26 Sep 2023
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| DLA Piper (Canada) LLPCounsel to the receiver | 11 May – 31 Aug 2023 | 111.2 | — | $810.78stated average | Motion Record of All Communications Network of Canada, Co · 26 Sep 2023 |
| KSVcapacity not statedfirm not named in the heading | to 31 Aug 2023 | — | — | not stated | Motion Record of All Communications Network of Canada, Co · 26 Sep 2023 |
As at 27 Sep 2023 · per Statement of Affairs (Business Bankruptcy), as stated and estimated by the officer · Planet Energy (Ontario) Corp. (entity-level, single debtor) — Deficiency of $27,246,792.79 reported. Unsecured creditors total $35,614,637.22, secured creditors (balance) $933,000.00, preferred creditors $0.00.
| Date | Document | File |
|---|---|---|
Trustee's Report on Preliminary Administration dated October 17, 2023
| ||
| Certificate of Bankruptcy dated September 28, 2023 | ||
Notice of Bankruptcy and First Meeting of Creditors dated September 28, 2023
| ||
| Court Order re Substitution of Trustee and Ancillary Relief dated September 26, 2023 | ||
Endorsement of Justice Kimmel dated September 26, 2023
| ||
Motion Record of All Communications Network of Canada, Co returnable September 26, 2023
| ||
Memorandum of Law and Argument of All Communications Network of Canada Co. dated September 25, 2023
| ||
| Notice to Electricity Customers dated August 22, 2023 | ||
| Notice to Gas Customers dated August 22, 2023 | ||
| Notice to Utilities dated August 22, 2023 | ||
Endorsement of Justice Conway dated August 17, 2023
| ||
Extension Order dated August 17, 2023
| ||
| Motion Record of the Interim Receiver returnable August 17, 2023 | ||
Second Report of Interim Receiver dated August 14, 2023
| ||
| Sale Process Certificate dated July 5, 2023 | ||
Consultant Protections Order dated July 4, 2023
| ||
Endorsement of Justice Osborne dated July 4, 2023
| ||
Extension, Sale Process and KERP Approval Order dated July 4, 2023
| ||
Motion Record of the Interim Receiver returnable July 4, 2023
| ||
Supplemental Motion Record of the Interim Receiver returnable July 4, 2023
| ||
| Supplement to First Report of Interim Receiver dated June 29, 2023 | ||
| First Report of Interim Receiver dated June 27, 2023 | ||
| Notice #1 to Customers dated June 27, 2023 | ||
Endorsement of Justice Steele dated June 14, 2023
| ||
Endorsement of Justice Steele dated June 8, 2023
| ||
Interim Receivership Appointment Order dated June 8, 2023
| ||
Stay Extentsion and Administration Order dated June 8, 2023
| ||
Reply Factum of All Communications Network of Canada, Co dated June 4, 2023
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| Responding Factum of Planet Energy dated June 4, 2023 | ||
Bookf of Authorities dated June 2, 2023
| ||
Factum of All Communications Network of Canada, Co dated June 2, 2023
| ||
| Supplementary Affidavit of Robert Stevanovski dated June 2, 2023 | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Planet Energy (Ontario) Corp. and Planet Energy (B.C.) Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/planet-energy-ontario-corp-and-planet-energy-b-c-corp