Proceedings.

Ultrametal Inc.

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Proceeding
Bankruptcysection 49 of the Bankruptcy and Insolvency Act
File
35-1386161
Filings held3
Last activity12 Aug 2010
On the record5,904 days
Secured debt$8.37M
OverviewSummary updated

Ultrametal Inc. filed an assignment on July 23, 2010, commencing bankruptcy proceedings in Ontario under the BIA, with RSM Richter Inc. acting as trustee in bankruptcy under estate file 35-1386161. The Statement of Affairs sworn by Craig V. Wolf, as at July 22, 2010, puts total assets at $923,800.00 against total liabilities of $15,838,207.14. Harris Trust and Savings Bank is listed as a secured creditor for $8,365,003.00, and related-party claims within the Hyco International group include Hyco Canada Holdings, Inc. at $7,003,665.85 and Hyco Canada at $2,080,030.26. Trade claims range from Team Tube Canada ULC at $298,868.45 down to sums under $100; claims of the Canada Revenue Agency, the Ministry of Finance, CAW Local 1524 and employees are listed as undetermined. The estate remains active.

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Case updates3 dated entries
#Report

The officer filed a report. Ultrametal's manufacturing operations were discontinued in July 2010 and the Trustee is conducting a sale and marketing process for the Company's fixed assets and inventory, aiming to complete liquidation before the Company must vacate its leased premises by September 30, 2010; no going-concern offers were received.

Source: Report of the Trustee to Creditors dated August 12, 2010

Parties

Debtor

Ultrametal Inc.

Trustee in bankruptcy

AlixPartners

Capital structureAs asserted in the filings
stated amounts, drawn to scale · the 128 smallest grouped as one mark
#Priority classCreditorAmountSource
4SecuredHARRIS TRUST AND SAVINGS BANKListed as secured creditor in preliminary list of creditors as at date of bankruptcy; account L#2426875 — debtor: Ultrametal Inc. · as of 23 Jul 2010$8.37MNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
4SecuredNATIONAL LEASING GROUP INC. · in 52 casesAmount of $1.00 reflects balance due is undetermined or unknown per document notation — debtor: Ultrametal Inc. · as of 23 Jul 2010$1Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
4SecuredLI FTCAPITAL CORPORATIONAmount of $1.00 reflects balance due is undetermined or unknown per document notation — debtor: Ultrametal Inc. · as of 23 Jul 2010$1Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
4SecuredMCAP LEASING INC. · in 6 casesAmount of $1.00 reflects balance due is undetermined or unknown per document notation — debtor: Ultrametal Inc. · as of 23 Jul 2010$1Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHYCO CANADA HOLDINGS, INC.Related party (Hyco International group entity) — debtor: Ultrametal Inc. · as of 23 Jul 2010$7MNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHYCO CANADARelated party (Hyco International group entity) — debtor: Ultrametal Inc. · as of 23 Jul 2010$2.08MNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTEAM TUBE CANADA ULCdebtor: Ultrametal Inc. · as of 23 Jul 2010$299KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMARMON/KEYSTONE CANADA INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$113KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHYCO HOLDINGS LLCRelated party (Hyco International group entity) — debtor: Ultrametal Inc. · as of 23 Jul 2010$61.9KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSCOT INDUSTRIES INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$58.2KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredNMT SPECIALIZED MACHINING INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$47.5KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCARBON STEEL · in 2 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$34.6KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSAMUEL SON & CO. LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$32.4KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTERRA NOVAdebtor: Ultrametal Inc. · as of 23 Jul 2010$31.5KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSATNAM MACHINE TOOL LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$30.8KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHALLTTE (CANADA) LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$24.1KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSEALTECH SUPPLY INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$22.3KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredODEN MACHINE WORKSdebtor: Ultrametal Inc. · as of 23 Jul 2010$19.2KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTRIUMPH TOOL LTD. · in 4 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$13.4KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredBEARING BRONZEdebtor: Ultrametal Inc. · as of 23 Jul 2010$13.1KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHYCO ALABAMA USRelated party (Hyco International group entity) — debtor: Ultrametal Inc. · as of 23 Jul 2010$13.1KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredPRAXAIR DISTRIBUTION · in 20 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$12.8KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredPENCOM CANADAdebtor: Ultrametal Inc. · as of 23 Jul 2010$12.3KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHYCO HENGSTLERRelated party (Hyco International group entity) — debtor: Ultrametal Inc. · as of 23 Jul 2010$10.6KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredROTO PRECISION INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$10KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredPRECISE CASTING INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$9.99KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredDGI SUPPLY · in 3 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$8.04KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredFLUID POWER SALES INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$7.93KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMTM PRECISION INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$7.75KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredAMEC GEOMATRIX LIMITEDdebtor: Ultrametal Inc. · as of 23 Jul 2010$6.3KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredWORKPLACE SAFETY & INSURANCE BOARD · in 49 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$5.13KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredD.J. HUNKS MACHINE & TOOL LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$4.3KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCOLT BUILDING MAINTENANCEdebtor: Ultrametal Inc. · as of 23 Jul 2010$3.8KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredPARADIGM LASER LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$3.65KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredEARLE M. JORGENSEN (CANADA) INC · in 5 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$3.31KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredLYNCH FLUID CONTROLS INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$3.15KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTCS COATINGS INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$2.92KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTENAQUIP LTD. · in 8 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$2.6KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSPLIT-FIREdebtor: Ultrametal Inc. · as of 23 Jul 2010$2.5KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredAKZO NOBEL COATINGS, INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$2.13KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSIRCO MACHINERY COMPANY LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$2.11KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMIDWAY INDUSTRIAL SUPPLYdebtor: Ultrametal Inc. · as of 23 Jul 2010$2.08KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSPRINT COURIERS K-W LIMITEDdebtor: Ultrametal Inc. · as of 23 Jul 2010$2.07KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCDW DIRECT, LLC · in 2 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$2.05KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredWILLOW BRAE PALLETS · in 2 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.81KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCINTAS CANADA LTD. · in 19 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.64KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSKF ECONOMOS CANADA INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$1.56KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredDELMAR INTERNATIONAL INC. · in 9 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.56KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredPUROLATOR COURIER · in 19 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.54KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredBAR-TECH ENTERPRISES LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$1.5KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredFASTENAL CANADA · in 28 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.5KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSOWA TOOLdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.37KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredGGBdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.32KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCASTLE METALS - BOX# 89204debtor: Ultrametal Inc. · as of 23 Jul 2010$1.27KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTEC-SAW INTERNATIONALdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.23KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSUMMO STEEL CORP. (CDN)debtor: Ultrametal Inc. · as of 23 Jul 2010$1.13KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMONARCH OIL LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$1.11KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMACHINERY CANADA · in 2 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.08KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHOOVER SAWMILL & PALLETS INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$1.06KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSIERRA MACHINERY, INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$1.03KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredROD ENDS MECHANICAL LTD. · in 3 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$1.01KNotice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredFLUID POWER HOUSE · in 2 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$994Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHEERS DECORATING & DESIGNdebtor: Ultrametal Inc. · as of 23 Jul 2010$936Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSPECIAL PRODUCTSdebtor: Ultrametal Inc. · as of 23 Jul 2010$896Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredDELL CANADA INC. · in 14 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$892Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredDAEMAR INC. · in 3 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$886Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredWEBER SUPPLY COMPANY INC. · in 7 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$875Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHARVARD MACHINE LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$875Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredQUANTEX TECHNOLOGIES INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$868Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredNORSPEC FILTRATION LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$859Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredR D MILLERdebtor: Ultrametal Inc. · as of 23 Jul 2010$856Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCLEAN PAC (CANADA) PACKAGINGdebtor: Ultrametal Inc. · as of 23 Jul 2010$848Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHERCULES SEALING PRODUCTS · in 2 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$840Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredFEDEX TRADE NETWORKS · in 19 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$828Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredALLIANCE PLASTICSdebtor: Ultrametal Inc. · as of 23 Jul 2010$820Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredDIAGNOSTIC OIL ANALYSISdebtor: Ultrametal Inc. · as of 23 Jul 2010$819Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredPROPAK LIMITEDdebtor: Ultrametal Inc. · as of 23 Jul 2010$764Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredREIST INDUSTRIES INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$733Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredKITCHENER PRINTING & DESIGNdebtor: Ultrametal Inc. · as of 23 Jul 2010$713Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMADE2MANAGE, A CONSONA ERP SOLUTIONdebtor: Ultrametal Inc. · as of 23 Jul 2010$629Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredREGIONAL HOSE & EQUIPMENTdebtor: Ultrametal Inc. · as of 23 Jul 2010$602Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredBODYSHOP MALL.COMdebtor: Ultrametal Inc. · as of 23 Jul 2010$585Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredKAR-OMNITOOLdebtor: Ultrametal Inc. · as of 23 Jul 2010$566Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredRICOH CANADA INC. · in 32 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$541Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredLIFTOW LIMITED · in 30 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$537Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredRBC BEARINGS INCORPORATEDdebtor: Ultrametal Inc. · as of 23 Jul 2010$534Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTRISTAR COATINGSdebtor: Ultrametal Inc. · as of 23 Jul 2010$487Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSUMMO-TUBE HONING & FINISHINGdebtor: Ultrametal Inc. · as of 23 Jul 2010$424Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTHE TRUCK SHOPdebtor: Ultrametal Inc. · as of 23 Jul 2010$421Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredABRASIVE SUPPLY & SERVICES INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$393Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCAMBRIDGE HEAT TREATINGdebtor: Ultrametal Inc. · as of 23 Jul 2010$374Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredPACA INDUSTRIAL DISTRIBUTIONdebtor: Ultrametal Inc. · as of 23 Jul 2010$371Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCINCINNATI MACHINE, LLCdebtor: Ultrametal Inc. · as of 23 Jul 2010$333Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSNAP-ON TOOLS OF CANADA LTD. · in 2 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$314Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredSAMUEL MACHINERY COMPANYdebtor: Ultrametal Inc. · as of 23 Jul 2010$308Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredWATERTIGHT ROOFING SERVICES LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$297Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMETROPOLITAN PUMP CO. LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$283Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMCCORDICK GLOVE AND SAFETYdebtor: Ultrametal Inc. · as of 23 Jul 2010$282Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredUPS · in 39 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$265Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredT-LONdebtor: Ultrametal Inc. · as of 23 Jul 2010$264Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredUNIQUE COFFEE SERVICES INC. · in 2 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$263Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredGRAYBAR ELECTRICdebtor: Ultrametal Inc. · as of 23 Jul 2010$254Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredGRAND & TOY · in 28 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$229Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredDYNAMIC MEGABYTES INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$220Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHICKS & MORLEYdebtor: Ultrametal Inc. · as of 23 Jul 2010$216Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredDHL EXPRESS (CANADA) LTD. · in 33 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$190Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredOAKVILLE CHROMEdebtor: Ultrametal Inc. · as of 23 Jul 2010$189Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCANON BUSINESS SOLUTIONS INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$189Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHOGG FUEL & SUPPLY LIMITEDdebtor: Ultrametal Inc. · as of 23 Jul 2010$184Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMISTER SAFETY SHOES INC. · in 8 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$173Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMCCARTER GRESPAN BEYNON WEIR LLPdebtor: Ultrametal Inc. · as of 23 Jul 2010$173Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredRON GERLdebtor: Ultrametal Inc. · as of 23 Jul 2010$172Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredG & A LOCK SERVICE LOCK SERVICEdebtor: Ultrametal Inc. · as of 23 Jul 2010$170Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredHI-TECH SEALS INC. · in 4 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$168Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTORBRAM ELECTRIC SUPPLY · in 8 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$152Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredW.H. LUBRICANTS LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$123Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredBFI CANADA · in 6 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$120Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredRONTIER INDUSTRIALdebtor: Ultrametal Inc. · as of 23 Jul 2010$116Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredDANUSER MACHINE COMPANYdebtor: Ultrametal Inc. · as of 23 Jul 2010$114Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTOSHIBA MACHINE MACHINERY CO. LTD.debtor: Ultrametal Inc. · as of 23 Jul 2010$82Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredTUFFEE INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$81Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredFEDERAL EXPRESS · in 39 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$72Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCANADIAN BEARINGS · in 5 casesdebtor: Ultrametal Inc. · as of 23 Jul 2010$67Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredGUSPRO INC.debtor: Ultrametal Inc. · as of 23 Jul 2010$66Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCANADA REVENUE AGENCY · in 926 casesAmount of $1.00 reflects balance due is undetermined or unknown per document notation — debtor: Ultrametal Inc. · as of 23 Jul 2010$1Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredBasic, MarianaContingent claim; amount of $1.00 reflects balance due undetermined or unknown — debtor: Ultrametal Inc. · as of 23 Jul 2010$1Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredEMPLOYEES VARIOUS · in 2 casesAmount of $1.00 reflects balance due is undetermined or unknown per document notation — debtor: Ultrametal Inc. · as of 23 Jul 2010$1Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredMINISTRY OF FINANCE · in 107 casesAmount of $1.00 reflects balance due is undetermined or unknown per document notation — debtor: Ultrametal Inc. · as of 23 Jul 2010$1Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
8UnsecuredCAW Local 1524Amount of $1.00 reflects balance due is undetermined or unknown per document notation — debtor: Ultrametal Inc. · as of 23 Jul 2010$1Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
Estate financialsReported figures — never derived
Total assets at filing$2.6M

As at 28 Jul 2010 · per Book values per the Company's books and records as at the date of bankruptcy; Trustee notes realizable value expected to be materially lower · entity - Ultrametal Inc. (the bankrupt estate) — Components (Approximate Book Value $000s): Cash 150; Accounts Receivable 924; Inventory 721; Fixed Assets 810; total shown as 2,605. Assets are fully encumbered by the Company's secured Guarantee to BMO Harris Trust and Savings Bank for Hyco's debt (~$8.4 million). Company's unsecured obligations total approximately $10.1 million as at date of bankruptcy; realizable value of assets expected to be materially lower than book values.

Cash on hand

$150K

As at 12 Aug 2010Report of the Trustee to Creditors dated August 12, 2010

Documents3 filings
DateDocumentFile
Report of the Trustee to Creditors dated August 12, 2010
  • Appointee RSM Richter Inc.
  • Appointee role trustee in bankruptcy
  • Cash on hand $150K · Note: Figure is the Company's book value of cash as at the date of bankruptcy, per its books and records, not a trustee's actual cash-on-hand statement. · As at: 2010-07-28 · Qualifier: approximate book value
  • Financial position Assets $2.6M · as at 28 Jul 2010 · per Book values per the Company's books and records as at the date of bankruptcy; Trustee notes realizable value expected to be materially lower · entity - Ultrametal Inc. (the bankrupt estate) — Components (Approximate Book Value $000s): Cash 150; Accounts Receivable 924; Inventory 721; Fixed Assets 810; total shown as 2,605. Assets are fully encumbered by the Company's secured Guarantee to BMO Harris Trust and Savings Bank for Hyco's debt (~$8.4 million). Company's unsecured obligations total approximately $10.1 million as at date of bankruptcy; realizable value of assets expected to be materially lower than book values.
  • + 2 more extracted facts
PDF
Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
  • Commencement date 23 July 2010
  • Financial position Assets $924K · Liabilities $15.8M · as at 22 Jul 2010 · per Statement of Affairs (Form 78) as stated and estimated by the officer, sworn by Craig V. Wolf · Entity - Ultrametal Inc. — Statement of Affairs reports: unsecured creditors per List A $10,076,091.14 (with balance of claims unsecured also listed), secured creditors value of security per List B $2,604,627.00, preferred creditors per List C $0.00, contingent claims per List D shown as bad; total unsecured creditors listed as $15,838,207.14 and total liabilities as $15,838,260.14 with deficiency of $15,830,260.14 (figures partially garbled by OCR); total assets $923,800.00 (also shown as $960,827.00 in one field, likely OCR artifact - using $923,800.00 as principal stated asset total per itemized components)
  • Province Ontario
  • Secured creditors $1 · Note: Amount of $1.00 reflects balance due is undetermined or unknown per document notation · Page: 3 · As of: 2010-07-23 · Debtor: Ultrametal Inc. · Creditor: MCAP LEASING INC.
  • + 1 more extracted fact
PDF
Certificate of Appointment dated July 23, 2010
  • Appointee RSM RICHTER INC.
  • Appointee role Trustee
  • Commencement date 23 July 2010
  • Court file no 35-1386161
  • + 1 more extracted fact
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Ultrametal Inc.” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/ultrametal-inc

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Sources last checked · summary updated 20 August 2026 · Report a correction · Printed from proceedings.ca/case/ultrametal-inc

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.