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.
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
Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010 — Notice to creditors
Debtor
Ultrametal Inc.
Trustee in bankruptcy
Richter
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | HARRIS 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 | $8.37M | Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
128 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansAs at ·
Cash on hand
$150K
As at 28 Jul 2010Report of the Trustee to Creditors dated August 12, 2010
The total the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Report of the Trustee to Creditors dated August 12, 2010
| PDF · Subscribers | |
Notice of Bankruptcy and First Meeting of Creditors dated July 27, 2010
| PDF · Subscribers | |
Certificate of Appointment dated July 23, 2010
| 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., “Ultrametal Inc.” (Bankruptcy). Retrieved 4 November 2026, https://proceedings.ca/case/ultrametal-inc
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.