Proceedings.

Sinobec Group Inc. et al.

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Proceeding
CCAACompanies' Creditors Arrangement Act, RSC 1985, c C-36
File
500-11-065769-255
Filings held57
Last activity28 Aug 2026
On the record483 days
Secured debtSubscribers
OverviewSummary updated

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.

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Case updates58 dated entries

55 earlier updates, back to 26 May 2025 subscribers.

Parties

Debtor

Sinobec Group Inc. et al.

Monitor

PwC

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice RogersSuperior Court of Québec14 orders, Sep 2025 – Aug 202612 cases on record
Justice CorriveauSuperior Court of Québec2 orders, May 202510 cases on record

Counsel of record

PartyCounselFirst seenSource
MonitorPwCStikeman Elliott LLP23 Jan 2026Service list · 23 Jan 2026
ApplicantSinobec Group Inc. et al.Osler, Hoskin & Harcourt LLP26 May 2025Order · 26 May 2025
CreditorC. RMcCarthy Tétrault LLP23 Jan 2026Service list · 23 Jan 2026
CreditorDachser USA Air & Sea Logistics IncGardiner Roberts LLP23 Jan 2026Service list · 23 Jan 2026
CreditorEverlast GroupBlaney McMurtry LLP23 Jan 2026Service list · 23 Jan 2026
CreditorMe Jennifer StamNorton Rose Fulbright Canada LLP23 Jan 2026Service list · 23 Jan 2026
CreditorMe Jordan KleinWinston & Strawn LLP23 Jan 2026Service list · 23 Jan 2026
CreditorMidwest Industrial MetalsBlake, Cassels & Graydon LLP23 Jan 2026Service list · 23 Jan 2026
CreditorPosner Metals LimitedCozen O'Connor LLP23 Jan 2026Service list · 23 Jan 2026
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredBank of Montreal · in 279 casesdebtor: Sinobec Group Inc. & al. · as of 26 May 2025$56M USDList of creditors as of May 26, 2025

214 more claims across lower-ranking classes

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Sale processAs stated in the filings

Sale closedthe 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

Parties solicited

130

Fourth report of the Monitor

Bid deadline (round closed)

3 July 2025

SISP Approval Order

PurchaserPriceStatusSource
Acquisition Canalum Inc.the assets described in Schedule "C" hereof (the " Purchased Assets ") · asset saleSubscribersClosed18 Sep 2025outside 5 Sep 2025Seventh report of the Monitor
AdvisorsPricewaterhouseCoopers Corporate Finance Inc. (financial advisor); SISP Advisor (sale agent)Fifth report of the Monitor
Sealed materialsunredacted version of the Purchase AgreementApproval and Vesting Order
RecoveriesAs stated in the filings

Unsecured creditors: no distribution. the Lenders a distribution.EstimatedSixth report of the Monitor · 26 Jan 2026

ClassCreditorClaimsRecoveryBasisSource
Securedthe Lendersa distributionconditionalper the monitorSixth report of the Monitor · 26 Jan 2026
Preferredformer employeesno distributionconditionalEstimatedper the debtorApplication for a Stay Extension Order and a WEPPA Order · 3 Oct 2025
Unsecuredno distributionEstimatedper the monitorSixth 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.

Estate financialsReported figures — never derived

Cash on hand

$2.75M USD

As at 10 Jun 2026Seventh report of the Monitor

1 more reported figure, as at 10 Jun 2026

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Documents
57 filings
DateDocumentFile
Schedule for Presentation of the Application for Interlocutory InjunctionPDF · Subscribers
Case Management Order on the time limit to apply for quashing of the seizure before judgment
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Order granting motion of foreign representative for (i) recognition of Fourth amended and restated initial order and (ii) related relief
  • Order date 13 August 2026
PDF · Subscribers
Safeguard Order
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Safeguard Order (Final)
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Safeguard Order – dated 2026-07-07
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Modified originating application, application for a seizure before judgment, Application for injunctive relief and Application for Safeguard OrderPDF · Subscribers
Minutes of hearing (en français seulement)
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Fourth Amended and Restated Initial OrderPDF · Subscribers
Judgment on the application to issue the fourth amended and restated initial orderPDF · Subscribers
Order for Injunctive Relief and Other Ancillary Relief
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Order for Seizure Before Judgment (in French only)
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Stay Extension Order
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Seventh report of the Monitor
  • Closing confirmed Closed · 18 Sep 2025 · Acquisition Canalum Inc.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 8 more extracted facts
PDF · Subscribers
Application for a Stay Extension OrderPDF · 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 partePDF · Subscribers
Sworn Statement of Marie-Chantal DréauPDF · Subscribers
Sworn Statement of Marie-Klaude GagnonPDF · Subscribers
Sworn Statement of Philippe JordanPDF · Subscribers
Stay Extension Order – dated 2026-03-26
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Amended Application for a Fourth Amended and Restated Initial OrderPDF · Subscribers
Stay Extension Order – dated 2026-01-30
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Distribution Order
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Sixth report of the Monitor
  • Closing confirmed Closed · Acquisition Canalum Inc.
  • Purchaser Acquisition Canalum Inc. · selected assets (the 'Purchased Assets') of the Seller · asset sale · closed
  • Recovery outcome Entries: per unstated; per unstated; per unstated · Table missing:
  • Sale outcome Sale closed — The Court-approved Sale Transaction closed and the Monitor now holds net sale proceeds pending distribution
  • + 1 more extracted fact
PDF · Subscribers
Application for a Fourth Amended and Restated Initial Order and a Distribution OrderPDF · Subscribers
Service List as of January 23, 2026
  • Counsel Blaney McMurtry LLP
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
  • Counsel Osler Hoskin & Harcourt LLP
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
WEPPA Order
  • Counsel Osler Hoskin & Harcourt LLP
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Fifth report of the Monitor
  • Purchaser Acquisition Canalum Inc. · selected assets (the 'Purchased Assets') of the Seller · asset sale · approved
  • Sale advisor SISP Advisor (sale agent)
  • Sale outcome Sale approved — The Court issued an Approval and Vesting Order which granted the approval of the contemplated transaction between the Purchaser and the Seller, and the vesting of the Purchased Assets, free of all encumbrances
  • Stalking horse Subscribers
PDF · Subscribers
Application for a Stay Extension Order and a WEPPA Order
  • Recovery outcome Entries: per estimated · Table missing:
PDF · Subscribers
Approval and Vesting Order
  • Order date 18 September 2025
  • Purchaser Acquisition Canalum Inc. · the assets described in Schedule "C" hereof (the " Purchased Assets ") · asset sale · approved
  • Sealed items unredacted version of the Purchase Agreement
  • Stalking horse Subscribers
PDF · Subscribers
Order of Cancellation and Reduction of Security Registrations (in French only)
  • Presiding officer Justice Karen M. Rogers
PDF · Subscribers
Fourth report of the Monitor
  • Process results 130 solicited · 18 NDAs · as of 29 Aug 2025
  • Purchaser Acquisition Canalum Inc. · the Purchased Assets, including all normal course accounts receivable (excluding F2F AR), title to inventory in leased warehouses and temporary storage locations, and equipment remaining in the business · asset sale · proposed
  • Sale advisor PricewaterhouseCoopers Corporate Finance Inc. (financial advisor)
  • Sale outcome Successful bid selected — The Monitor named Acquisition Canalum Inc. as the Successful Bidder and recommends approval of the Proposed Transaction
  • + 1 more extracted fact
PDF · Subscribers
Application for the Issuance of an Approval and Vesting OrderPDF · Subscribers
Order granting motion of foreign representative for (i) recognition of recognition of Third amended and restated initial order and (ii) related reliefPDF · Subscribers
Third Amended and Restated Initial OrderPDF · Subscribers
Third report of the Monitor
  • Sale advisor PricewaterhouseCoopers Corporate Finance Inc. (financial advisor)
  • Sale outcome Sale process approved — SISP Phase II underway; timeline for consideration of binding offers extended
  • Stalking horse Subscribers
PDF · Subscribers
Application for a Third Amended and Restated Initial OrderPDF · Subscribers
Order granting motion of foreign representative for (i) recognition of recognition of Second amended and restated initial order and (ii) related reliefPDF · Subscribers
Second Amended and Restated Initial OrderPDF · Subscribers
Second report of the Monitor
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Application for a Second Amended and Restated Initial OrderPDF · 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 reliefPDF · Subscribers
Amended and Restated Initial OrderPDF · Subscribers
First Report of the Monitor
  • Sale outcome Liquidation in progress — SISP initiated; teaser and NDA sent to potential buyers; Phase 1 ongoing
  • Financial position · Secured creditors · Stalking horse Subscribers
PDF · Subscribers
Motion for the expansion of the Monitor’s Powers
  • Applicant Sinobec Group Inc.
  • Appointee PricewaterhouseCoopers Inc.
  • Appointee role monitor
  • Commencement date 4 June 2025
  • + 3 more extracted facts
PDF · Subscribers
Notice to creditors of the initial order and Chapter 15 proceedingsPDF · Subscribers
Order directing joint administration of cases and authorizing the filing of a consolidated list under Bankruptcy Rule 1007PDF · Subscribers
Order granting leave to exceed page limitPDF · Subscribers
Order granting provisional relief pursuant to Section 1519 of the Bankruptcy CodePDF · Subscribers
Order scheduling recognition hearing and specifying form and manner of service of noticePDF · Subscribers
First Day Initial Order
  • Applicant SINOBEC GROUP INC.
  • Appointee PricewaterhouseCoopers Inc.
  • Appointee role monitor
  • Commencement date 26 May 2025
  • + 6 more extracted facts
PDF · Subscribers
List of creditors as of May 26, 2025
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Report of the proposed Monitor on the business and financial affairs of the debtor companiesPDF · Subscribers
SISP Approval Order
  • Bid deadline 3 July 2025
  • Order date 26 May 2025
  • Outside date 5 September 2025
  • Break fee Subscribers
  • + 4 more extracted facts
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 reliefPDF · 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 20 September 2026, https://proceedings.ca/case/sinobec-group-inc-et-al

Sources last checked · summary updated 13 August 2026 · Report a correction · Printed from proceedings.ca/case/sinobec-group-inc-et-al

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.