TRS Components Ltd., Plant 22 Ltd. and 976711 Ontario Inc.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CL-26-00000330-0000
TRS Components Ltd., Plant 22 Ltd. and 976711 Ontario Inc., operating as Terra Nova Truss, were placed in receivership on July 31, 2026, when the Ontario Superior Court of Justice (Commercial List) appointed AlixPartners Restructuring, Inc. as receiver and manager under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, in Court File No. CL-26-00000330-0000. The application was brought by Bank of Montreal, owed approximately $23.5 million and USD $20,000 as at April 28, 2026, exclusive of accruing interest, legal fees and disbursements, after it demanded payment and issued notices of intention to enforce security on May 1, 2026. A preliminary creditor listing as at July 31, 2026 shows $38,958,000 secured and $1,706,435 unsecured.
Alongside the appointment, the court approved a sale process for the debtors' assets, run against a stalking horse agreement, with bids due by August 31, 2026.
11 earlier updates, back to 31 July 2026 — subscribers.
Debtor
TRS Components Ltd., Plant 22 Ltd. and 976711 Ontario Inc.
Receiver
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Black | Ontario Superior Court of Justice | 3 orders, Jul 2026 | 176 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlixPartners | Fasken Martineau DuMoulin LLP | 30 Jul 2026 | Service list · 30 Jul 2026 |
| Applicant | Aird & Berlis LLP | 30 Jul 2026 | Service list · 30 Jul 2026 |
| CreditorArgyle Capital Partners Inc | Blake, Cassels & Graydon LLP · Fasken Martineau DuMoulin LLP | 30 Jul 2026 | Service list · 30 Jul 2026 |
| CreditorWhirl 2 Ltd | Bieber LLP · Fasken Martineau DuMoulin LLP | 30 Jul 2026 | Service list · 30 Jul 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Bank of Montreal (BMO) · in 279 casesGeneral security agreement dated July 25, 2022 granted by ATRS Acquisition (now TRS) and ATRS Real Estate (now Plant 22), attorned to by TNT on April 1, 2023; security under s. 427 of the Bank Act granted by TRS dated July 25, 2022; debenture dated July 25, 2022 granted by Plant 22 supported by a charge/mortgage in the principal amount of $10,000,000 (registered principal, not a balance) registered on title to the Real Property (16783 Thorndale Road, Thorndale); PPSA registrations against each of TRS, Plant 22 and TNT covering Inventory, Equipment, Accounts, Other and Motor Vehicle; BMO is the · as of 28 Apr 2026 | $23.5M | Application Record of the Applicant, Bank of Montreal dated July 21, 2026 |
Sale process approved — Sale Process approved, soliciting offers superior to the Stalking Horse AgreementSale Process Order dated July 31, 2026 · 31 Jul 2026
Stalking horse
Terra Nova Components Inc. and Celina Thorndale Inc. · Subscribers
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Terra Nova Components Inc. and Celina Thorndale Inc.the business and assets of the Debtors, including the real property municipally known as 16783 Thorndale Road, Thorndale, Ontario · asset sale · agreement 24 Jul 2026 | Subscribers | Approved31 Jul 2026outside 14 Sep 2026 | Sale Process Order dated July 31, 2026 |
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
| TRS-TNT SISP Extension - Notice to Prospective Purchasers | PDF · Subscribers | |
Notice & Statement of the Receiver dated August 10, 2026
| PDF · Subscribers | |
| Confidentiality and Non-Disclosure Agreement | PDF · Subscribers | |
Endorsement of Justice Black dated July 31, 2026
| PDF · Subscribers | |
Receivership Appointment Order dated July 31, 2026
| PDF · Subscribers | |
Sale Process Order dated July 31, 2026
| PDF · Subscribers | |
Affidavit of Melissa Macrae affirmed July 30, 2026
| PDF · Subscribers | |
Aide Memoire of the Whirl Subordinators dated July, 30 2026
| PDF · Subscribers | |
TRS - Service List as of July 30, 2026
| PDF · Subscribers | |
| Factum of the Proposed Receiver re Sale Process dated July 29, 2026 | PDF · Subscribers | |
| Factum of the Applicant, Bank of Montreal dated July 28, 2026 | PDF · Subscribers | |
| Motion Record of the Proposed Receiver of TRS dated July 24, 2026 | PDF · Subscribers | |
Pre-filing Report of the Proposed Receiver dated July 24, 2026
| PDF · Subscribers | |
Application Record of the Applicant, Bank of Montreal dated July 21, 2026
| 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., “TRS Components Ltd., Plant 22 Ltd. and 976711 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/trs-components-ltd-plant-22-ltd-and-976711-ontario-inc