Tundra Electric Inc.
- Proceeding
- NOISECTION 50.4 OF THE BANKRUPTCY AND INSOLVENCY ACT, RSC 1985, C. B-3, AS AMENDED
- File
- BKY-RG-00083-2023
- Industry
- Construction · Specialty trade contractors
Tundra Electric Inc. commenced proceedings on April 19, 2023 by notice of intention under section 50.4 of the Bankruptcy and Insolvency Act, in the Court of King's Bench for Saskatchewan, file BKY-RG-00083-2023; the matter remains active. Liabilities as filed at April 11, 2023 total $1,798,331, comprising $560,872 secured and $1,237,459 unsecured, against assets of $475,000 per the Statement of Affairs carrying an estimated realization of $242,000 as at March 23, 2023, made up of cash, accounts receivable, inventory and equipment. At the April 11, 2023 meeting of creditors, two unsecured creditors holding claims of $1,158,312 voted in favour of the Amended Proposal. The Canada Revenue Agency's claim of $625,329.42 included $560,872.90 asserted as a deemed trust for pre-filing source deductions under subsection 60(1.1), leaving $64,456.52 counted as unsecured for voting purposes.
Application filed, dated at Saskatoon, commencing the proceeding against Tundra Electric Inc. in the Court of King's Bench for Saskatchewan as file BKY-RG-00083-2023.
Guide
Division 1 proposal: how it works for a business in Canada
When a Canadian business can't pay its debts, a Division 1 proposal lets it keep operating while it offers creditors a deal. How the notice of intention, the six-month clock, the vote and court approval work, what CRA must be paid, and what happens when it fails, drawn from the court record.
Debtor
Tundra Electric Inc.
Proposal trustee
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Secured creditors (aggregate as reported) · in 37 casesas of April 11, 2023 — Per Statement of Affairs the amount was $475,405; as filed at April 11, 2023 the amount was $560,872. This figure also corresponds to CRA's claim for pre-filing source deduction obligations (deemed trust, subsection 60(1.1) BIA); document names no individual secured creditors. — debtor: Tundra Electric Inc. | $561K | Report of Trustee on Amended Proposal |
| 8 | Unsecured | |||
| 8 | Unsecured |
2 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.Under the plan · sanctionedReport of Trustee on Amended Proposal · 19 Apr 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | unsecured creditors (under the Proposal) | Under the plansanctionedper the proposal trustee | Report of Trustee on Amended Proposal · 19 Apr 2023 |
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.
2 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Application for Court Approval of Proposal
| PDF · Subscribers | |
Order (Approval of Proposal)
| PDF · Subscribers | |
Report of Trustee on Amended Proposal
| PDF · Subscribers | |
| Amended Proposal to Creditors | PDF · Subscribers | |
Creditor's Package - Proposal and First Meeting of Creditors
| PDF · Subscribers | |
| Certificate of the Proposal | PDF · Subscribers | |
| Certificate of Notice of Intention to Make a Proposal | 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., “Tundra Electric Inc.” (NOI), Court of King's Bench for Saskatchewan. Retrieved 4 November 2026, https://proceedings.ca/case/tundra-electric-inc