Silicorp Developments Inc., Medusa Stone Inc., and Ontario Stone Depot Inc. made an assignment in bankruptcy on January 26, 2021 under section 49 of the Bankruptcy and Insolvency Act, with Grant Thornton Limited named trustee. Pace Savings & Credit Union Limited was the applicant. Ontario Stone Depot Inc.'s Statement of Affairs reported total assets of $0.00 against total liabilities of $351,867.85, a deficiency of $351,867.85, with secured, preferred and contingent-or-other liabilities all nil. Its unsecured creditors included the Canada Revenue Agency for $70,304.54 in HST and $12,460.79 in payroll remittances, the Workplace Safety and Insurance Board for $54,621.38, and First Data Canada for $50,000.00, among numerous other trade and municipal creditors.
A claims procedure has been established — see the order for deadlines.
The officer filed report no. Trustee's Report on its Preliminary Administration. The Company's operations ceased following receivership, with all assets (receivables, inventory, equipment, and real property) sold by the Receiver; proceeds are insufficient to cover the secured creditor's claim, leaving no assets or expected distribution for unsecured creditors.
Source: Trustee's Preliminary Report - February 12, 2021.pdf
Silicorp Developments Inc., Medusa Stone Inc., and Ontario Stone Depot Inc. made an assignment in bankruptcy under section 49 of the Bankruptcy and Insolvency Act on January 26, 2021.
Source: Bankruptcy Package.pdf
Grant Thornton Limited was named trustee, and Ontario Stone Depot Inc.'s Statement of Affairs reported a deficiency of $351,867.85 against nil assets.
Source: Certificate of Appointment.pdf
Responding Motion Record of the Defendants - January 19, 2021.PDF — Application / notice of application
Debtor
Silicorp Developments Inc., Medusa Stone Inc., and Ontario Stone Depot Inc.
Trustee in bankruptcy
Doane Grant Thornton
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Trustee in bankruptcyDoane Grant Thornton | Aird & Berlis LLP | 21 Jan 2021 | Application · 21 Jan 2021 |
| CreditorPace Savings & Credit Union Limited | Harrison Pensa LLP | 8 Sep 2020 | Affidavit · 8 Sep 2020 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Canada Revenue Agency - Receiver General (HST)debtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $70.3K | Bankruptcy Package.pdf |
| Unsecured | WSIB · in 51 casesregulatory (Workplace Safety and Insurance Board) — debtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $54.6K | Bankruptcy Package.pdf |
| Unsecured | First Data Canada · in 2 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $50K | Bankruptcy Package.pdf |
| Unsecured | Event Management Inc.debtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $22.6K | Bankruptcy Package.pdf |
| Unsecured | Huntsville, Town ofmunicipal taxes/charges — debtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $16.4K | Bankruptcy Package.pdf |
| Unsecured | Cushman Stone & Gravel Inc.debtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $15K | Bankruptcy Package.pdf |
| Unsecured | CG Equipmentdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $12.8K | Bankruptcy Package.pdf |
| Unsecured | Canada Revenue Agency (Payroll) · in 926 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $12.5K | Bankruptcy Package.pdf |
| Unsecured | Keystone Granite Sdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $10.7K | Bankruptcy Package.pdf |
| Unsecured | Muskoka Drilling & Blastingdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $9.04K | Bankruptcy Package.pdf |
| Unsecured | Jim Moore Petroleumdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $8.37K | Bankruptcy Package.pdf |
| Unsecured | Linde (was Praxair Canada Inc.) · in 15 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $6.65K | Bankruptcy Package.pdf |
| Unsecured | Muskoka Millwrighting & Machining Ltddebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $6.55K | Bankruptcy Package.pdf |
| Unsecured | RTA Electric Motor Corpdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $5.98K | Bankruptcy Package.pdf |
| Unsecured | Cainsville Tire Discountersdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $5.18K | Bankruptcy Package.pdf |
| Unsecured | Van Dyke Natural Stone Suppliesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $4.89K | Bankruptcy Package.pdf |
| Unsecured | Robinson Haulage Incdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $3.88K | Bankruptcy Package.pdf |
| Unsecured | JSW Manufacturing Inc. · in 2 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $3.5K | Bankruptcy Package.pdf |
| Unsecured | Northern Disposal & Sanitationdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $3.4K | Bankruptcy Package.pdf |
| Unsecured | Duncor Enterprises Incdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $3.37K | Bankruptcy Package.pdf |
| Unsecured | Frank and Patti Hubertydebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $3K | Bankruptcy Package.pdf |
| Unsecured | McBain Quarries Inc.debtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $2.92K | Bankruptcy Package.pdf |
| Unsecured | Doug Lytledebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $2.77K | Bankruptcy Package.pdf |
| Unsecured | RSG Transportdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $2.6K | Bankruptcy Package.pdf |
| Unsecured | Just Excavatingdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $1.75K | Bankruptcy Package.pdf |
| Unsecured | APC Huntsville (Wayne's)debtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $1.59K | Bankruptcy Package.pdf |
| Unsecured | Meridian Fuels Incdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $1.28K | Bankruptcy Package.pdf |
| Unsecured | Faye's Bookkeepingdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $1.04K | Bankruptcy Package.pdf |
| Unsecured | Ryerson, Twp ofmunicipal — debtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $1.03K | Bankruptcy Package.pdf |
| Unsecured | Pace Savings & Credit Union Ltddebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $1K | Bankruptcy Package.pdf |
| Unsecured | Muskoka Town & Countrydebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $735 | Bankruptcy Package.pdf |
| Unsecured | Hunter's Mobile Repairdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $616 | Bankruptcy Package.pdf |
| Unsecured | Integrity Homedebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $614 | Bankruptcy Package.pdf |
| Unsecured | Evan Hughes Excavatingdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $588 | Bankruptcy Package.pdf |
| Unsecured | Derrick Johnstone Constructiondebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $542 | Bankruptcy Package.pdf |
| Unsecured | ServiceMaster Clean of Muskokadebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $424 | Bankruptcy Package.pdf |
| Unsecured | HLD Corporationdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $412 | Bankruptcy Package.pdf |
| Unsecured | Bell · in 27 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $388 | Bankruptcy Package.pdf |
| Unsecured | Jones Motorlines · in 2 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $347 | Bankruptcy Package.pdf |
| Unsecured | Creative Stone Designsdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $339 | Bankruptcy Package.pdf |
| Unsecured | Dr. Logick's Internet Servicesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $313 | Bankruptcy Package.pdf |
| Unsecured | Moore Propanedebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $293 | Bankruptcy Package.pdf |
| Unsecured | Muskoka Rock Companydebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $279 | Bankruptcy Package.pdf |
| Unsecured | Wayne Simpson & Associatesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $194 | Bankruptcy Package.pdf |
| Unsecured | FedEx Trade Networks · in 19 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $170 | Bankruptcy Package.pdf |
| Unsecured | Messer · in 10 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $162 | Bankruptcy Package.pdf |
| Unsecured | Waste Connections of Canada Inc. · in 49 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $146 | Bankruptcy Package.pdf |
| Unsecured | Xplornet · in 6 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $136 | Bankruptcy Package.pdf |
| Unsecured | Gravenhurst Plumbing, Heating & Electricdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $136 | Bankruptcy Package.pdf |
| Unsecured | Muskoka Rent-Aldebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $122 | Bankruptcy Package.pdf |
| Unsecured | G.F. Prestondebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $98 | Bankruptcy Package.pdf |
| Unsecured | Reliance Home Comfort · in 19 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $69 | Bankruptcy Package.pdf |
| Unsecured | Stones - Mark Pattondebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $54 | Bankruptcy Package.pdf |
| Unsecured | Employees · in 185 casesdebtor: Ontario Stone Depot Inc. · as of 25 Jan 2021 | $1 | Bankruptcy Package.pdf |
Unsecured creditors: no distribution.EstimatedTrustee's Preliminary Report - February 12, 2021.pdf · 12 Feb 2021
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee's Preliminary Report - February 12, 2021.pdf · 12 Feb 2021 |
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.
As at 25 Jan 2021 · per Statement of Affairs (Business Bankruptcy) as stated and estimated by the officer · entity - Ontario Stone Depot Inc. — Secured creditors List B, Preferred creditors List C, and Contingent/other liabilities List D each total $0.00; total assets $0.00, deficiency $351,867.85 as stated on Statement of Affairs.
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report - February 12, 2021.pdf
| ||
Bankruptcy Package.pdf
| ||
Certificate of Appointment.pdf
| ||
| Motion Record Returnable January 21, 2021.pdf | ||
Reply Motion Record - January 21, 2021.pdf
| ||
Responding Motion Record of the Defendants - January 19, 2021.PDF
| ||
| Information Memorandum - October 5, 2020.pdf | ||
Waters Affidavit sworn September 8, 2020.PDF
| ||
| Proof of Claim Form.pdf | ||
| Proxy Form.pdf | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Silicorp Developments Inc., Medusa Stone Inc., and Ontario Stone Depot Inc.” (Bankruptcy), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/silicorp-developments-inc-medusa-stone-inc-and-ontario-stone-depot-inc
Sources last checked · summary updated 6 September 2026 · Report a correction · Printed from proceedings.ca/case/silicorp-developments-inc-medusa-stone-inc-and-ontario-stone-depot-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.