Victory Nickel Inc.
Follow- Proceeding
- ProposalBankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
- File
- CV-23-00695460-00CL
Victory Nickel Inc. commenced proposal proceedings under Division I of the Bankruptcy and Insolvency Act on December 3, 2025, before the Ontario Superior Court of Justice (Commercial List), under court file number BK-23-02818736-0031. A Form 92 Notice of Proposal list of creditors with claims of $250 or more, dated as of April 19, 2022, names more than twenty unsecured creditors, the largest being CCGRF (c/o Intertrust) at $10,488,260.12, followed by claims from Cypress County, Jane Laidlaw/PFDH Holdings Ltd., CEBA, Red Cloud Mining Capital Inc., and a number of individuals and municipalities. The proceeding remains active.
A claims procedure has been established — see the order for deadlines.
Victory Nickel Inc. filed its proposal application with the Ontario Superior Court of Justice (Commercial List).
The court granted an approval and vesting order for the sale to Rio Tinto Exploration Canada Inc. Closing terms, as extracted: vesting upon delivery of Trustee's Certificate confirming payment of Purchase Price, satisfaction/waiver of conditions, and completion of Transaction.
Undated filings1 — no date appears on the document · show
Debtor
Victory Nickel Inc.
Proposal trustee
GlassRatner
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | CCGRF (c/o Intertrust)debtor: Victory Nickel Inc. · as of 19 Apr 2022 | $10.5M | Notice of Proposal |
| Unsecured | Ken Murdockdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $760K | Notice of Proposal |
| Unsecured | Cynthia Thomasdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $437K | Notice of Proposal |
| Unsecured | Sean Stokesdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $433K | Notice of Proposal |
| Unsecured | The Estate of Rene Galipeau (Mary Galipeau)debtor: Victory Nickel Inc. · as of 19 Apr 2022 | $315K | Notice of Proposal |
| Unsecured | C. Sehn Truching Ltddebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $183K | Notice of Proposal |
| Unsecured | Cypress CountyAccount #24011200/24281000 — debtor: Victory Nickel Inc. · as of 19 Apr 2022 | $146K | Notice of Proposal |
| Unsecured | Red Cloud Mining Capital Inc. · in 2 casesdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $113K | Notice of Proposal |
| Unsecured | Jane Laidlaw/PFDH Holdings Ltd.c/o Elizabeth Jane Laidlaw — debtor: Victory Nickel Inc. · as of 19 Apr 2022 | $97.8K | Notice of Proposal |
| Unsecured | Ray Rileydebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $97.8K | Notice of Proposal |
| Unsecured | Mike Andersondebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $89.2K | Notice of Proposal |
| Unsecured | Peter Jonesdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $76.6K | Notice of Proposal |
| Unsecured | Roland Hoarstdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $49.5K | Notice of Proposal |
| Unsecured | Ron Anson-Cartwrightdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $48.9K | Notice of Proposal |
| Unsecured | CEBA (Canadian Emergency Business Account) · in 3 casesGovernment emergency loan program — debtor: Victory Nickel Inc. · as of 19 Apr 2022 | $40K | Notice of Proposal |
| Unsecured | Paul Fisherdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $30.7K | Notice of Proposal |
| Unsecured | Medicine Hat Co-op Ltd.debtor: Victory Nickel Inc. · as of 19 Apr 2022 | $22.9K | Notice of Proposal |
| Unsecured | Town of Grand Rapidsdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $12K | Notice of Proposal |
| Unsecured | Sol Melnickdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $11.6K | Notice of Proposal |
| Unsecured | Paul Jonesdebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $8K | Notice of Proposal |
| Unsecured | Town of Lynn Lakedebtor: Victory Nickel Inc. · as of 19 Apr 2022 | $3.31K | Notice of Proposal |
Sale approvedCourt Order of Justice Kimmel dated March 8, 2023 · 8 Mar 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Rio Tinto Exploration Canada Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 10 Feb 2023 | not stated | Approved8 Mar 2023 | Court Order of Justice Kimmel dated March 8,… |
Preferred creditors: paid in full.Under the plan · vote pendingProposal to Creditors · 1 Apr 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | — | $3.12Kestimated | paid in full | Under the planvote pendingper the debtor | Proposal to Creditors · 1 Apr 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.
| Date | Document | File |
|---|---|---|
Endorsement of Justice J. Steele dated December 10, 2025
| ||
Order of Justice J. Steele dated December 10, 2025
| ||
Motion Record dated December 3, 2025
| ||
| Trustee’s Certificate dated March 9, 2023 | Trustee site | |
Court Order of Justice Kimmel dated March 8, 2023
| ||
Endorsement of Justice Kimmel dated March 8, 2023
| ||
| Application Record dated February 28, 2023 | Trustee site | |
| Notice to Creditors | ||
| Certificate of Appointment | ||
Notice of Proposal
| ||
Proposal to Creditors
| ||
| Proof of Claim Form | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Victory Nickel Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/victory-nickel-inc