Precision Plasma & Sputtering Ltd. and 642657 N.B. Ltd. (o/a PMW Precision Machine Works)
- Proceeding
- Receivership (court-appointed)section 33 of the Judicature Act, Rule 41 of the Rules and section 243(1) of the BIA
- File
- SJM-102-2025
- Industry
- Manufacturing · Metals & fabrication
Precision Plasma & Sputtering Ltd. and 642657 N.B. Ltd., operating as PMW Precision Machine Works, remain in a court-appointed receivership begun on June 4, 2025, when a receivership order was granted under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding is before the Court of King's Bench of New Brunswick under court file SJM-102-2025. On August 8, 2025, a further application was brought in the receivership, initiated by a notice of motion filed the same day. The receivership is active; the record before us does not identify the relief sought on the August application or its disposition.
A further application was filed in the receivership, putting a new matter before the Court of King's Bench of New Brunswick roughly two months after appointment.
Source: Notice of Motion
Notice of motion filed the same day, the originating document for that August application.
Source: Record on Motion
Precision Plasma and Sputtering Limited - 245-246(1) Notice and Statement of the Receiver — Notice to creditors
Receivership order granted, placing both debtor companies under a court-appointed receiver and starting the proceeding in Court of King's Bench file SJM-102-2025.
Source: Receivership Order
Debtor
Precision Plasma & Sputtering Ltd. and 642657 N.B. Ltd. (o/a PMW Precision Machine Works)
Receiver
EY
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesDeemed trust (source deductions/HST priority claim) — Amount listed as 'unknown'; CRA also appears separately as an unsecured creditor (amount unknown) for other claims; Receiver still determining amounts owed (para 15, 26k) — debtor: Precision Plasma & Sputtering Ltd. · as of 9 Jun 2025 | — | First Report of the Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
32 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Approval pending — Receiver recommends approval of sale of On-Site Assets to DTI Films LLCFirst Report of the Receiver · 8 Aug 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| DTI Films LLCOn-Site Assets · asset sale | Subscribers | Proposed | First Report of the Receiver |
As at ·
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 |
|---|---|---|
| Sealing Order | PDF · Subscribers | |
Sale Approval and Vesting Order
| PDF · Subscribers | |
Record on Motion
| PDF · Subscribers | |
| Pre-Filing Brief on Behalf of the Receiver | PDF · Subscribers | |
Affidavit of Michael Lach
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
Notice of Motion
| PDF · Subscribers | |
642657 N.B. Ltd. - 245-246(1) Notice and Statement of the Receiver
| PDF · Subscribers | |
Precision Plasma and Sputtering Limited - 245-246(1) Notice and Statement of the Receiver
| PDF · Subscribers | |
Receivership Order
| 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., “Precision Plasma & Sputtering Ltd. and 642657 N.B. Ltd. (o/a PMW Precision Machine Works)” (Receivership (court-appointed)), Court of King's Bench of New Brunswick. Retrieved 4 November 2026, https://proceedings.ca/case/precision-plasma-sputtering-ltd-and-642657-n-b-ltd-o-a-pmw-precision-machine-wor