Sinobec Group Inc. et al.
- Proceeding
- CCAACompanies' Creditors Arrangement Act, RSC 1985, c C-36
- File
- 500-11-065769-255
Sinobec Group Inc. and its affiliated companies commenced CCAA proceedings before the Superior Court of Québec under court file 500-11-065769-255, with the application filed June 4, 2025 in Montréal. As of May 26, 2025, secured claims against the group are held by Laurentian Bank of Canada for USD $12,771,181.37, Business Development Bank of Canada for USD $15,325,417.50, Royal Bank of Canada for USD $19,156,772.07 and Bank of Montreal for USD $55,987,210.06. The trustee's list of creditors as of the same date names several hundred unsecured creditors, including trade suppliers, logistics providers and professional firms, with individual claims ranging from under USD $10 to over USD $11 million owed to Perfect Gateway Enterprises.
Schedule for Presentation of the Application for Interlocutory Injunction — Application / notice of application
Modified originating application, application for a seizure before judgment, Application for injunctive relief and Application for Safeguard Order — Application / notice of application
Judgment on the application to issue the fourth amended and restated initial order — Amended and restated initial order
The officer filed report no. Seventh Report of the Monitor. Sinobec has ceased operating following the sale of its assets in fall 2025 and the permanent layoff of all employees; the Monitor continues an investigation into recovery of outstanding foreign-to-foreign accounts receivable (approximately $103M) and is seeking a further stay extension to pursue this work.
Source: Seventh report of the Monitor
Originating application, Application for a seizure before judgment, Application for injunctive relief, Application to proceed in camera, Application for a confidentiality order, Application for Special Mode of Service and de bene esse application to proceed ex parte — Application / notice of application
Amended Application for a Fourth Amended and Restated Initial Order — Amended and restated initial order
The officer filed report no. Sixth Report. Following the closing of the sale of the Purchased Assets to Acquisition Canalum Inc., operations have been wound down in an orderly fashion: employment of remaining staff ended in December 2025, funds were swept to the Monitor's trust accounts, and the only remaining accounts receivable are the F2F A/R, which the Monitor continues to investigate.
Source: Sixth report of the Monitor
Application for a Fourth Amended and Restated Initial Order and a Distribution Order — Amended and restated initial order
The officer filed report no. Fifth Report. Sinobec is winding down operations: 62 of 76 employees have been permanently laid off, the remainder will follow after the sale to the Purchaser closes, and operations will cease at closing. The Monitor's forensic investigation of the F2F accounts receivable is ongoing, and the Monitor supports a stay extension and designating the proceeding a liquidating CCAA for WEPP.
Source: Fifth report of the Monitor
Application for a Stay Extension Order and a WEPPA Order — Application / notice of application
The court granted an approval and vesting order for the sale to Acquisition Canalum Inc. Sealed: unredacted version of the Purchase Agreement.
Source: Approval and Vesting Order
The officer filed report no. Fourth Report. The debtors are in a CCAA sale process; the Monitor has selected Acquisition Canalum Inc. as successful bidder to buy the inventory, normal-course receivables and equipment, with leases to be disclaimed after closing and employees not being retained. The F2F receivables investigation continues.
Source: Fourth report of the Monitor
Order granting motion of foreign representative for (i) recognition of recognition of Third amended and restated initial order and (ii) related relief — Amended and restated initial order
The officer filed report no. Third Report. Sinobec continues to operate under CCAA protection, conducting COD sales of inventory and collecting pre-filing receivables funded by an interim DIP facility, while the second phase of the SISP continues and the Monitor investigates the F2F accounts receivable.
Source: Third report of the Monitor
Application for a Third Amended and Restated Initial Order — Amended and restated initial order
Application for a Second Amended and Restated Initial Order — Amended and restated initial order
Sinobec Group Inc. and its affiliates filed the application commencing the CCAA proceeding in Montréal on June 4, 2025.
The court approved a sale and investment solicitation process. A bid deadline of 2025-07-03.
Source: SISP Approval Order
Guide
What happens to employees when a company goes bankrupt in Canada
When a Canadian employer goes bankrupt or into creditor protection, its workers are owed pay it cannot meet. What ranks first, what the Wage Earner Protection Program pays and how to apply, and what happens to severance, pensions, benefits and jobs when the business is sold, drawn from the court record.
Case update
Sinobec: a worldwide freeze, and the monitor's hand on the cheques
Fifteen months after Sinobec Group sought CCAA protection, its monitor and Bank of Montreal are suing the aluminum trader's founder for CAD 91,222,670.42, have seized his shares and 29 Québec properties before judgment, and hold a freeze over his companies in ten countries. On August 27 PwC asked the court to rule that $410,548 of the companies' payments are outside the ordinary course, to put a Montréal building's sale proceeds in trust, and to hold the group to cash-neutral spending until an interlocutory hearing set for January 2027.
Debtor
Sinobec Group Inc. et al.
Monitor
PwC
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Rogers | Superior Court of Québec | 16 orders, Aug 2025 – Aug 2026 | 16 cases on record |
| Justice Pinsonnault | Superior Court of Québec | 2 orders, Jun 2026 | 31 cases on record |
| Justice Bisson | Superior Court of Québec | 2 orders, Jul 2025 – Aug 2025 | 4 cases on record |
| Justice Corriveau | Superior Court of Québec | 2 orders, May 2025 | 12 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorPwC | Stikeman Elliott LLP | 23 Jan 2026 | Service list · 23 Jan 2026 |
| ApplicantSinobec Group Inc. et al. | Osler, Hoskin & Harcourt LLP | 26 May 2025 | Order · 26 May 2025 |
| CreditorC. R | McCarthy Tétrault LLP | 23 Jan 2026 | Service list · 23 Jan 2026 |
| CreditorDachser USA Air & Sea Logistics Inc | Gardiner Roberts LLP | 23 Jan 2026 | Service list · 23 Jan 2026 |
| CreditorEverlast Group | Blaney McMurtry LLP | 23 Jan 2026 | Service list · 23 Jan 2026 |
| CreditorMe Jennifer Stam | Norton Rose Fulbright Canada LLP | 23 Jan 2026 | Service list · 23 Jan 2026 |
| CreditorMe Jordan Klein | Winston & Strawn LLP | 23 Jan 2026 | Service list · 23 Jan 2026 |
| CreditorMidwest Industrial Metals | Blake, Cassels & Graydon LLP | 23 Jan 2026 | Service list · 23 Jan 2026 |
| CreditorPORT CITY LOGISTICS | Benesch Friedlander Copan & Aronoff LLP | 14 Sep 2026 | Service list · 14 Sep 2026 |
| CreditorPosner Metals Limited | Cozen O'Connor LLP | 23 Jan 2026 | Service list · 23 Jan 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Bank of Montreal · in 297 casesdebtor: Sinobec Group Inc. & al. · as of 26 May 2025 | $56M USD | List of creditors as of May 26, 2025 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
214 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 plansSale closed — the transaction previously approved by the Court as part of the Approval and Vesting Order, with net proceeds distributedSeventh report of the Monitor · 10 Jun 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Acquisition Canalum Inc.the assets described in Schedule "C" hereof (the " Purchased Assets ") · asset sale | Subscribers | Closed18 Sep 2025outside 5 Sep 2025 | Seventh report of the Monitor |
Unsecured creditors: no distribution. the Lenders a distribution.EstimatedSixth report of the Monitor · 26 Jan 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | the Lenders | — | a distributionconditional | per the monitor | Sixth report of the Monitor · 26 Jan 2026 |
| Preferred | former employees | — | no distributionconditional | Estimatedper the debtor | Application for a Stay Extension Order and a WEPPA Order · 3 Oct 2025 |
| Unsecured | — | — | no distribution | Estimatedper the monitor | Sixth report of the Monitor · 26 Jan 2026 |
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.
Cash on hand
$2.75M USD
As at 8 Jun 2026Seventh report of the Monitor
Professional fees
As at
1 more reported figure
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Service List as of September 14, 2026
| PDF · Subscribers | |
| Schedule for Presentation of the Application for Interlocutory Injunction | PDF · Subscribers | |
| Motion of the monitor for directions | PDF · Subscribers | |
Case Management Order on the time limit to apply for quashing of the seizure before judgment
| PDF · Subscribers | |
Order granting motion of foreign representative for (i) recognition of Fourth amended and restated initial order and (ii) related relief
| PDF · Subscribers | |
Safeguard Order
| PDF · Subscribers | |
Safeguard Order (Final)
| PDF · Subscribers | |
Safeguard Order – dated 2026-07-07
| PDF · Subscribers | |
| Modified originating application, application for a seizure before judgment, Application for injunctive relief and Application for Safeguard Order | PDF · Subscribers | |
Minutes of hearing (en français seulement)
| PDF · Subscribers | |
Fourth Amended and Restated Initial Order
| PDF · Subscribers | |
Judgment on the application to issue the fourth amended and restated initial order
| PDF · Subscribers | |
Order for Injunctive Relief and Other Ancillary Relief
| PDF · Subscribers | |
Order for Seizure Before Judgment (in French only)
| PDF · Subscribers | |
Stay Extension Order
| PDF · Subscribers | |
Seventh report of the Monitor
| PDF · Subscribers | |
| Application for a Stay Extension Order | PDF · Subscribers | |
| Exhibits of Marie-Chantal Dréau’s Sworn Statement | PDF · Subscribers | |
| Exhibits of Originating Application | PDF · Subscribers | |
| Originating application, Application for a seizure before judgment, Application for injunctive relief, Application to proceed in camera, Application for a confidentiality order, Application for Special Mode of Service and de bene esse application to proceed ex parte | PDF · Subscribers | |
| Sworn Statement of Marie-Chantal Dréau | PDF · Subscribers | |
| Sworn Statement of Marie-Klaude Gagnon | PDF · Subscribers | |
| Sworn Statement of Philippe Jordan | PDF · Subscribers | |
Stay Extension Order – dated 2026-03-26
| PDF · Subscribers | |
| Amended Application for a Fourth Amended and Restated Initial Order | PDF · Subscribers | |
Stay Extension Order – dated 2026-01-30
| PDF · Subscribers | |
Distribution Order
| PDF · Subscribers | |
Sixth report of the Monitor
| PDF · Subscribers | |
| Application for a Fourth Amended and Restated Initial Order and a Distribution Order | PDF · Subscribers | |
Service List as of January 23, 2026
| PDF · Subscribers | |
Order (i) recognizing and enforcing a vesting order, (ii) approving the sale of certain of the Debtors’ assets, (iii) approving assumption an assignment of certain contracts and (iv) granting Related Relief
| PDF · Subscribers | |
Stay Extension Order – dated 2025-10-07
| PDF · Subscribers | |
WEPPA Order
| PDF · Subscribers | |
Fifth report of the Monitor
| PDF · Subscribers | |
Application for a Stay Extension Order and a WEPPA Order
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Order of Cancellation and Reduction of Security Registrations (in French only)
| PDF · Subscribers | |
Fourth report of the Monitor
| PDF · Subscribers | |
| Application for the Issuance of an Approval and Vesting Order | PDF · Subscribers | |
| Order granting motion of foreign representative for (i) recognition of recognition of Third amended and restated initial order and (ii) related relief | PDF · Subscribers | |
Third Amended and Restated Initial Order
| PDF · Subscribers | |
Third report of the Monitor
| PDF · Subscribers | |
| Application for a Third Amended and Restated Initial Order | PDF · Subscribers | |
Order granting motion of foreign representative for (i) recognition of recognition of Second amended and restated initial order and (ii) related relief
| PDF · Subscribers | |
Second Amended and Restated Initial Order
| PDF · Subscribers | |
Second report of the Monitor
| PDF · Subscribers | |
| Application for a Second Amended and Restated Initial Order | PDF · Subscribers | |
| Order granting (i) recognition of foreign main proceeding; (ii) recognition of foreign representative; (iii) recognition of initial order, amended and restated initial order, and SISP order; and (iv) related relief | PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
Motion for the expansion of the Monitor’s Powers
| PDF · Subscribers | |
Notice to creditors of the initial order and Chapter 15 proceedings
| PDF · Subscribers | |
| Order directing joint administration of cases and authorizing the filing of a consolidated list under Bankruptcy Rule 1007 | PDF · Subscribers | |
| Order granting leave to exceed page limit | PDF · Subscribers | |
| Order granting provisional relief pursuant to Section 1519 of the Bankruptcy Code | PDF · Subscribers | |
| Order scheduling recognition hearing and specifying form and manner of service of notice | PDF · Subscribers | |
First Day Initial Order
| PDF · Subscribers | |
List of creditors as of May 26, 2025
| PDF · Subscribers | |
| Report of the proposed Monitor on the business and financial affairs of the debtor companies | PDF · Subscribers | |
SISP Approval Order
| PDF · Subscribers | |
| Application for a first day initial order, an amended and restated initial order, a sale and investment solicitation process order and certain ancillary relief | 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., “Sinobec Group Inc. et al.” (CCAA), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/sinobec-group-inc-et-al