#Sale
The court granted an approval and vesting order for the sale to Triple M Metal LP. Closing terms, as extracted: Vesting occurs upon delivery of the Proposal Trustee's Certificate.
TKCMetal
FollowActive
- Proceeding
- Proposalsections 64.1 and 64.2 of the Bankruptcy and Insolvency Act
- File
- 32-3030651
Filings held13
Last activity1 Oct 2024
On the record787 days
OverviewSummary updated
TKC Metal Recycling Inc. is in Division I proposal proceedings begun on August 13, 2024 in the Ontario Superior Court of Justice (In Bankruptcy and Insolvency) under court file 32-3109134, with BDO Canada Limited acting as Proposal Trustee. The company invokes sections 64.1 and 64.2 of the Bankruptcy and Insolvency Act. Its list of creditors with claims of $250 or more, stated as of the notice of intention filing date, is dominated by 1000909688 Ontario Inc at $2,206,342.00 and Pure Alloys at $1,059,846.03, followed by Mitsubishi HC Capital Canada Leasing Inc., listed twice at $400,977.94 and $53,744.00, SLM Recycling at $124,544.82, and Canada Revenue Agency's Sudbury Tax Services Office at $103,542.58 in the deemed trust class. Royal Bank of Canada, RCAP Leasing Inc. and The Toronto Dominion Bank also appear. The matter remains active.
Proceedings AIAsk this case — answers cite the filings
Case updates13 dated entries
10 earlier updates, back to 26 July 2024 — subscribers.
Parties
Debtor
TKCMetal
Proposal trustee
BDO
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Parayeski | Ontario Superior Court of Justice | 2 orders, Aug 2024 | 5 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeBDO | Cozen O'Connor LLP | 26 Aug 2024 | Service list · 26 Aug 2024 |
| CreditorTKC Metal Recycling Inc | Miller Thomson LLP · Millerthomsonllp | 14 Aug 2024 | Service list · 26 Aug 2024 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | 1000909688 Ontario Incas of NOI filing date — debtor: TKC Metal Recycling Inc. | $2.21M | TKC - NOI Notice to Creditors |
82 more claims across lower-ranking classesSubscribe to view
Sale processAs stated in the filings
Approval pending — Company negotiated and finalized an Asset Purchase Agreement with Triple M Metal LP, subject to Court approvalSecond Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024 · 24 Sep 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Triple M Metal LPthe Company's right, title and interest in and to Purchased Assets as defined in the Sale Agreement · asset sale · agreement 23 Sep 2024 | Subscribers | Approved1 Oct 2024 | Approval and Vesting Order - Goodman J. |
AdvisorsBDO Canada Limited (sale agent)Sale Process Order August 22, 2024 J. Parayeski signed
Closing termsVesting occurs upon delivery of the Proposal Trustee's CertificateApproval and Vesting Order - Goodman J.
Fees and ratesAs stated in the filings
6 engagements · 3 firms — latest: (firm not named), to 20 Sep 2024Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024 · 24 Sep 2024
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| (firm not named)Counsel to the trusteefirm not named in the heading | to 20 Sep 2024 | — | — | — | Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024 · 24 Sep 2024 |
| BDO Canada LimitedProposal trusteeperiod 4 of 4 | to 20 Sep 2024 | — | — | — | Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024 · 24 Sep 2024 |
| BDO Canada LimitedProposal trusteeperiod 4 of 4 | 1 Sep – 20 Sep 2024 | — | — | —6 people | Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024 · 24 Sep 2024 |
| BDO Canada LimitedProposal trusteeperiod 2 of 4 | 17 Aug – 31 Aug 2024 | — | — | —4 people | Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024 · 24 Sep 2024 |
| BDO Canada LimitedProposal trusteeperiod 1 of 4 | 9 Jul – 16 Aug 2024 | — | — | —6 people | Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024 · 24 Sep 2024 |
| Cozen O'Connor LLPCounsel | — | — | — | —4 people | Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024 · 24 Sep 2024 |
98 stated figures across 6 engagements, each sourcedSubscribe to view
Estate financialsReported figures — never derived
Professional fees to date
$78K
As at 24 Sep 2024Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024
Documents
13 filings
| Date | Document | File |
|---|---|---|
| Ancillary Order - Goodman J. | PDF · Subscribers | |
Approval and Vesting Order - Goodman J.
| PDF · Subscribers | |
Factum - Moving Party - TKC Recycling Inc.
| PDF · Subscribers | |
Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024
| PDF · Subscribers | |
Motion Record - Moving Party TKC Metal Recycling
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Endorsement August 22, 2024 J. Parayeski | PDF · Subscribers | |
Motion Record Returnable August 22, 2024
| PDF · Subscribers | |
Order re Administration Charge August 22, 2024 J. Parayeski signed
| PDF · Subscribers | |
Sale Process Order August 22, 2024 J. Parayeski signed
| PDF · Subscribers | |
Factum Served Aug 14, 2024
| PDF · Subscribers | |
First Report of the Trustee dated August 14, 2024
| PDF · Subscribers | |
TKC - NOI Notice to Creditors
| 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., “TKCMetal” (Proposal), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/tkcmetal