Satin Finish Hardwood Flooring, Limited
- Proceeding
- Receivership (court-appointed)section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43
- File
- CV-19-622048-00CL
- Industry
- Manufacturing · Building products
Satin Finish Hardwood Flooring, Limited has been in court-appointed receivership in Ontario since June 17, 2019, when the Ontario Superior Court of Justice, on the application of Canadian Imperial Bank of Commerce, appointed MNP Ltd. receiver under section 101 of the Courts of Justice Act. CIBC is listed as a secured creditor for $10,433,000.00, with a further $3,067,000.00 shown as unsecured. Employees appear on the secured list at $284,655.00 and on the unsecured list at $52,432.43. Shareholder loans of $18,000,000.00 and $1,703,275.00 owing to 15 Fenmar Investments Limited head an unsecured list of trade, utility and service creditors; Tribute (Unionville) Limited is carried as a contingent creditor for $149,120.45. The receivership remains active.
A claims procedure has been established — see the order for deadlines.
Application filed in the Ontario Superior Court of Justice under court file CV-19-622048-00CL, commencing the receivership proceeding against the company.
Notice to Potential Claimants against Employee Trust Fund dated July 5 2019 — Notice to creditors
The court granted an approval and vesting order for the sale to 2340125 Ontario Inc. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming satisfaction of closing conditions.
On CIBC's application, the Ontario Superior Court of Justice appointed MNP Ltd. receiver over Satin Finish under section 101 of the Courts of Justice Act.
Application Record re Appointment of Receiver Returnable June 17, 2019 — Application / notice of application
Debtor
Satin Finish Hardwood Flooring, Limited
Receiver
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Canadian Imperial Bank of Commerce · in 72 casesList 'A' Secured Creditors — debtor: Satin Finish Hardwood Flooring, Limited | $10.4M | Notice and Statement of Receiver dated June 26, 2019 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
217 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Sale approved — the Transaction is hereby ratified and approvedApproval and Vesting Order dated June 17 2019 · 17 Jun 2019
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2340125 Ontario Inc.the Purchased Assets described in the Sale Agreement · asset sale · ResidualCo: 21091 Ontario Limited · agreement 28 May 2019 | not stated | Approved17 Jun 2019 | Approval and Vesting Order dated June 17 2019 |
| Date | Document | File |
|---|---|---|
| Endorsement dated October 3 2019 | PDF · Subscribers | |
Order of Justice Penny dated October 3 2019
| PDF · Subscribers | |
Motion Record approval of distribution, receiver's activities and fees and discharge of receiver returnable October 3 2019 dated September 26 2019
| PDF · Subscribers | |
Notice to Potential Claimants against Employee Trust Fund dated July 5 2019
| PDF · Subscribers | |
Notice and Statement of Receiver dated June 26, 2019
| PDF · Subscribers | |
Application Record re Appointment of Receiver Returnable June 17, 2019
| PDF · Subscribers | |
Appointment Order dated June 17 2019
| PDF · Subscribers | |
Approval and Vesting Order dated June 17 2019
| PDF · Subscribers | |
| Corresponding Endorsement dated June 17 2019 | PDF · Subscribers | |
| Pre-appointment Report of the Proposed Receiver dated June 17 2019 | PDF · Subscribers | |
| Proof of Claim Form in Blank and Checklist for Proof of Claim | 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., “Satin Finish Hardwood Flooring, Limited” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/satin-finish-hardwood-flooring-limited-rcvr