Tool Shed Brewing Company Inc.
- Proceeding
- Proposalsection 50.4(9) of the Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended
- File
- 25-3038201
- Industry
- Manufacturing · Food & beverage manufacturing
Tool Shed Brewing Company Inc. is proceeding under a Division I proposal under the Bankruptcy and Insolvency Act. As at January 31, 2024, the company reported secured claims of approximately $715,400 owed to individual lenders, a figure the proposal trustee had not yet reviewed for security validity. Unsecured claims as of the same date totalled roughly $571,091 owed to the Canada Revenue Agency for unpaid payroll source deductions subject to a Requirement to Pay notice, $1,083,395 owed to trade creditors on account of accounts payable, $14,058 owed to a landlord, and $2,750,820 owed to individual lenders on principal and interest, a figure the trustee was still confirming against company books and records.
2024-04-12 LT Justice Sidnell encl Filed Materials for April 15, 2024 — Application / notice of application
The officer filed report no. Second Report. Tool Shed continued regular brewery operations during the NOI proceedings while the Proposal Trustee ran a SISP that concluded with the Stalking Horse Bid being declared the Successful Bid; the Company is now seeking approval of a reverse vesting order and a further stay extension to close that transaction, which would preserve the business and its roughly 20 employees.
Undated filings1 — no date appears on the document · show
Debtor
Tool Shed Brewing Company Inc.
Proposal trustee
KPMG
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Sidnell | Court of King's Bench of Alberta | 3 orders, Jan 2024 – Apr 2024 | 29 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorAssumed Liabilities | Miller Thomson LLP · MLT Aikins LLP | 8 Apr 2024 | Affidavit · 8 Apr 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) · in 985 casesDeemed trust class - unpaid payroll source deductions; subject of a Requirement to Pay notice; prose approximates this figure at $571,100. — debtor: Tool Shed Brewing Company Inc. · as of 31 Jan 2024 | $571K | First Report of the Proposal Trustee |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
4 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
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See all plans3 transactions · 1 proposed · 1 approved · 1 closed — SPA and Transaction approved by the CourtApproval and Reverse Vesting Order · 23 Apr 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 258an acquisition of 100% of the equity of the Company · share sale | Subscribers | Proposed | First Report of the Proposal Trustee |
| 2582568 Alberta Inc.Stalking horsethe New Common Shares (as defined in the SPA) · share sale · nominee/assignee: its nominee · ResidualCo: ResidualCo · agreement 6 Feb 2024 | Subscribers | Approved23 Apr 2024outside 30 Apr 2024 | Approval and Reverse Vesting Order |
| unnamedthe Post-Consolidation Shares | not stated | Closed3 May 2024 | Proposal Trustee's Conclusion Certificate |
Professional fees
$121K
As at 8 Apr 2024Second Report of the Proposal Trustee
| Date | Document | File |
|---|---|---|
Proposal Trustee's Conclusion Certificate
| PDF · Subscribers | |
Application before Justice Yamauchi April 23, 2024
| PDF · Subscribers | |
Approval and Reverse Vesting Order
| PDF · Subscribers | |
Stay Extension Order filed April 17, 2024
| PDF · Subscribers | |
| 2024-04-12 LT Justice Sidnell encl Filed Materials for April 15, 2024 | PDF · Subscribers | |
| Bench Brief of Respondent, 2594617 Alberta Ltd. | PDF · Subscribers | |
| Affidavit of John Donovan, Sworn April 11, 2024 | PDF · Subscribers | |
Filed Affidavit of James Costello (without exhibits)
| PDF · Subscribers | |
| Filed Application - Application | PDF · Subscribers | |
| Filed Brief of Law | PDF · Subscribers | |
Second Report of the Proposal Trustee
| PDF · Subscribers | |
| Affidavit of Tom Taylor, sworn April 5, 2024 | PDF · Subscribers | |
| Filed Affidavit of T. Taylor (without exhibits) | PDF · Subscribers | |
Application dated February 12, 2024
| PDF · Subscribers | |
| Affidavit No.3 of James Costello | PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
| Bench Brief dated February 6, 2024 | PDF · Subscribers | |
| Affidavit No.2 of James Costello | PDF · Subscribers | |
Application dated February 2, 2024
| PDF · Subscribers | |
| Affidavit of James Costello | PDF · Subscribers | |
| NOI Certificate | PDF · Subscribers | |
Tool Shed Sale and Investment Solicitation Process (SISP)
| PDF · Subscribers | |
Tool Shed Teaser
| PDF · Subscribers | |
Reasons for Decision of Justice EJ Sidnell
| PDF · Subscribers | |
| Tool Shed Stalking Horse Agreement | 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., “Tool Shed Brewing Company Inc.” (Proposal), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/tool-shed-brewing-company-inc