Versitec Marine (1635536 Ontario Inc. o/a Versitec Marine & Industrial, and Versitec Marine USA Inc.)
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- CV-20-00637427-00CL
Versitec Marine — 1635536 Ontario Inc., operating as Versitec Marine & Industrial, together with Versitec Marine USA Inc. — was the subject of a court-appointed receivership before the Ontario Superior Court of Justice, on the Commercial List, brought under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The matter proceeded in Ontario under court file number CV-20-00637427-00CL and took in both the Ontario operating company and its United States affiliate. The receivership is closed.
Motion Record of Morgan & Partners Inc. dated August 31, 2022 — Application / notice of application
Reply Motion Record of Liquid Capital Exchange Corp. Apr 25 2022 — Application / notice of application
Motion Record of the Receiver returnable April 27, 2022 — Application / notice of application
Motion Record of the Substitute Receiver dated June 22, 2021 — Application / notice of application
Substitute Receiver's (BDO) Preliminary Report issued on February 9, 2021 — Court officer report
Debtor
Versitec Marine (1635536 Ontario Inc. o/a Versitec Marine & Industrial, and Versitec Marine USA Inc.)
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 4 orders, Apr 2022 – Sep 2022 | 310 cases on record |
| Justice Gilmore | Ontario Superior Court of Justice | 3 orders, May 2021 – Jun 2021 | 68 cases on record |
| Justice Koehnen | Ontario Superior Court of Justice | 2 orders, Feb 2021 | 83 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | Loopstra Nixon LLP | 4 May 2021 | Endorsement · 14 Jan 2022 |
| ApplicantLiquid Capital Exchange Corp | Torkin Manes LLP | 9 Mar 2020 | Order · 9 Mar 2020 |
| CreditorLiquid Capital Exchange Corp | Torkin Manes LLP | 14 Jan 2022 | Endorsement · 14 Jan 2022 |
LCX: shortfall.FinalMotion Record of the Receiver · 18 Apr 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | LCX | — | shortfall | Finalper the receiver | Motion Record of the Receiver · 18 Apr 2022 |
| SecuredLCX | Liquid Capital Exchange Corp. | — | interimconditional | Estimatedper the receiver | Motion Record of the Substitute Receiver · 22 Jun 2021 |
| UnsecuredHST Claim | Canada Revenue Agency | — | no distributionconditional | per the receiver | Motion record returnable January 24, 2022 (Part 2) · 24 Jan 2022 |
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.
1 blurred figure 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 plans8 engagements · 4 firms — latest: BDO Canada Limited, 14 Jan – 7 Apr 2022, in feesMotion Record of the Receiver · 18 Apr 2022
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| BDO Canada LimitedReceiverperiod 3 of 3 | 14 Jan – 7 Apr 2022 | — | Motion Record of the Receiver · 18 Apr 2022 | ||
| BDO Canada LimitedReceiverperiod 2 of 3 | 1 Jun – 15 Nov 2021 | — | Reply Motion Record of Liquid Capital Exchange Corp. Apr 25 2022 · 25 Apr 2022 | ||
| BDO Canada LimitedReceiverperiod 1 of 3 | 13 Jan – 31 May 2021 | Fourth Report of Substitute Receiver · 18 Nov 2021 | |||
| Laishley Reed LLPCounsel to the receiver | 12 Mar – 31 Aug 2020 | — | Fourth Report of Substitute Receiver · 18 Nov 2021 | ||
| Loopstra Nixon LLPCounsel to the receiverperiod 3 of 3 | 7 Jan – 31 Mar 2022 | — | Motion Record of the Receiver · 18 Apr 2022 | ||
| Loopstra Nixon LLPCounsel to the receiverperiod 2 of 3 | 1 Jun – 12 Oct 2021 | — | Reply Motion Record of Liquid Capital Exchange Corp. Apr 25 2022 · 25 Apr 2022 | ||
| Loopstra Nixon LLPCounsel to the receiverperiod 1 of 3 | 15 Jan – 31 May 2021 | Fourth Report of Substitute Receiver · 18 Nov 2021 | |||
| Morgan & Partners Inc.Receiver | — | — | Fourth Report of Substitute Receiver · 18 Nov 2021 |
18 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Endorsement of J Conway dated September 16, 2022
| PDF · Subscribers | |
| Responding Motion Record of R.Byrd Sept 12 2022 | PDF · Subscribers | |
| Motion Record of Morgan & Partners Inc. dated August 31, 2022 | PDF · Subscribers | |
Distribution Order May 25, 2022
| PDF · Subscribers | |
Approval and Vesting Order of J Conway April 27, 2022
| PDF · Subscribers | |
Discharge Order of J Conway April 27, 2022
| PDF · Subscribers | |
| Endorsement of J Conway April 27, 2022 | PDF · Subscribers | |
Reply Motion Record of Liquid Capital Exchange Corp. Apr 25 2022
| PDF · Subscribers | |
| Supplement to the Fifth Report of the Receiver (April 22, 2022) | PDF · Subscribers | |
Motion Record of the Receiver returnable April 27, 2022
| PDF · Subscribers | |
Amended and Restated Receiver Appointment Order dated January 24, 2022
| PDF · Subscribers | |
Motion record returnable January 24, 2022 (Part 2)
| PDF · Subscribers | |
Motion record returnable January 24, 2022 (Part 1)
| PDF · Subscribers | |
Endorsement of J Penny dated January 14, 2022
| PDF · Subscribers | |
| Responding Motion Record of R Byrd dated January 10, 2022 | PDF · Subscribers | |
Discharge Order November 24 2021
| PDF · Subscribers | |
Fourth Report of Substitute Receiver
| PDF · Subscribers | |
| Motion Record - Applicant - Liquid Capital | PDF · Subscribers | |
| Endorsement of J Gilmore dated June 22 2021 | PDF · Subscribers | |
Motion Record of the Substitute Receiver dated June 22, 2021
| PDF · Subscribers | |
Order of J Gilmore dated June 22, 2021
| PDF · Subscribers | |
Signed Order (Administrative Relief) May 4, 2021
| PDF · Subscribers | |
Signed Order (Approval and Vesting Order) May 4, 2021
| PDF · Subscribers | |
Motion to Approve the Sale of Assets
| PDF · Subscribers | |
Motion Record of Receiver heard on February 12, 2021
| PDF · Subscribers | |
Substitute Receiver Appointment Order dated February 12, 2021
| PDF · Subscribers | |
Substitution and Sale Process Approval Order dated February 12, 2021
| PDF · Subscribers | |
| Substitute Receiver's (BDO) Preliminary Report issued on February 9, 2021 | PDF · Subscribers | |
Receiver Appointment Order dated March 9, 2020
| 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., “Versitec Marine (1635536 Ontario Inc. o/a Versitec Marine & Industrial, and Versitec Marine USA Inc.)” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/versitec-marine-1635536-ontario-inc-o-a-versitec-marine-industrial-and-versitec-