Visionwall Incorporated, Visionwall Corporation and 825764 Alberta Ltd
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- 0903-12398
- Industry
- Manufacturing · Building products
Visionwall Incorporated, Visionwall Corporation and 825764 Alberta Ltd have been under CCAA protection since August 12, 2009, and the proceedings remain active. The Monitor estimated in its report dated November 20, 2009 that the Canada Revenue Agency held a deemed trust claim against Visionwall estimated to be approximately $1,550,000, ranking ahead of both secured and unsecured creditors in a liquidation scenario. Peers Foster Kristiansen and Federal Mortgage Corporation Ltd. have filed proofs of claim of $5,721,874 in respect of advances made to the Company; on October 29, 2009 the two entered a settlement agreement under which they would support the Company's management and would not support an alternative plan.
A claims procedure has been established — see the order for deadlines.
Per the Claims Process Order dated 10 September 2009.
The officer filed report no. Tenth Report. The report focuses on the creditors' meetings and voting results for the Plan of Compromise or Arrangement, which was approved and will proceed to a Sanction Order application.
The officer filed report no. Eighth Report. The report focuses on estimating realizations from a wind-down/liquidation scenario, noting the Monitor has not been directed to explore a sale of the business, and discusses the value of shares to be offered to secured creditors under the Plan tied to the success of newly incorporated Visionwall Solutions Inc.
The officer filed report no. Sixth Report. The company experienced repeated cash flow constraints causing delayed source deduction remittances to CRA, but subsequently made the overdue payments after receiving an outstanding accounts receivable.
The officer filed report no. Fifth Report. The report focuses on Visionwall's late remittance of source deductions to CRA after the Initial Order, including missed payments due to delayed clearance of large US-dollar customer cheques, with the company expecting to catch up on payments upon receipt of an anticipated wire transfer.
The officer filed report no. Fourth Report. The report addresses whether Visionwall failed to pay employee wages during the CCAA period; the Monitor found no evidence of unpaid wages, salaries, or benefits and confirms payroll for both hourly and salaried employees was consistently funded and paid throughout the proceedings.
The stay of proceedings was extended. Court file 0903-12398.
Source: Amended and Restated Initial Order authorizing the DIP, dated October 30, 2009
The officer filed report no. Third Report. Visionwall continues to face production and supply delays affecting revenue and cash flow, is working on eight active projects worth about $2.9 million, is undergoing a claims review process, and is seeking DIP financing and an extension of the stay to complete its restructuring plan.
The stay of proceedings was extended. Court file 0903-12398.
Source: Amended and Restated Order Sought (October 16th Application)
The officer filed report no. Second Report. The Company continues to operate and produce under seven active projects worth approximately $3.3 million while pursuing over $14 million in further contracts, and is seeking DIP financing to fund ongoing operations amid production and receivable collection delays.
The officer filed report no. First Report. Visionwall Corporation continues active operations, completing existing window/wall construction projects and negotiating new contracts, and does not anticipate needing DIP financing based on projected cash flows.
Claims Package (Notice to Creditors, Proof of Claim, Claims Process Order) — Claims procedure order
Undated filings3 — no date appears on the document · show
Debtor
Visionwall Incorporated, Visionwall Corporation and 825764 Alberta Ltd
Monitor
PwC
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Bielby | Court of King's Bench of Alberta | 15 orders, Aug 2009 – Dec 2009 | 1 case on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorVisionwall Incorporated, Visionwall Corporation and 825764 Alberta Ltd | Miller Thomson LLP · Reynolds Mirth Richards & Farmer LLP | 30 Oct 2009 | Order · 30 Oct 2009 |
| CreditorAlan Hirmes and Yosef Brikman | Stikeman Elliott LLP | — | Application |
| CreditorAlbcrta Treasury Branches | Miller Thomson LLP | 30 Oct 2009 | Order · 30 Oct 2009 |
| CreditorPeers Foster Kristiansen Inc | Witten LLP | — | Application |
| CreditorPeter Schaub | Reynolds Mirth Richards & Farmer LLP | — | Application |
| CreditorPeter Schaub and Mibana AG | Reynolds Mirth Richards & Farmer LLP | 30 Oct 2009 | Order · 30 Oct 2009 |
| CreditorUPA Construction | Field Law | — | Application |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Peers Foster Kristiansen (PFK) and Federal Mortgage Corporation Ltd. (FMC)as of proofs of claim filed — PFK and FMC entered settlement agreement (Oct 29, 2009) to support Company's management and not support alternative plan; amount is proofs of claim filed, not an adjudicated/reported total — debtor: Visionwall | $5.72M | Report of the Monitor and Information Circular |
| Unsecured |
1 more claim in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution. 825764 Alberta Ltd. a distribution.Under the plan · sanctionedAmended Plan of Compromise and Arrangement · 14 Dec 2009
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Special Crown Claims | — | paid in full | Under the plansanctionedper the debtor | Amended Plan of Compromise and Arrangement · 14 Dec 2009 |
| Secured | Affected Secured Creditors | — | a distribution | Under the plansanctionedper the debtor | Amended Plan of Compromise and Arrangement · 14 Dec 2009 |
| Secured | 825764 Alberta Ltd. | — | a distribution | Under the plansanctionedper the debtor | Amended Plan of Compromise and Arrangement · 14 Dec 2009 |
| Unsecured | Affected Unsecured Creditors | — | a distributionconditional | Under the plansanctionedper the debtor | Amended Plan of Compromise and Arrangement · 14 Dec 2009 |
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.
Cumulative disbursements
$274K
As at 29 Oct 2009Monitor’s 3rd Report to the Court
Cash on hand
As at
1 more reported figure
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Sanction Order, dated December 21, 2009
| PDF · Subscribers | |
Stay Extension Order, dated December 17, 2009
| PDF · Subscribers | |
Monitor’s 10th Report to the Court
| PDF · Subscribers | |
Amended Plan of Compromise and Arrangement
| PDF · Subscribers | |
Court Order, dated December 4, 2009
| PDF · Subscribers | |
Monitor’s 9th Report to the Court
| PDF · Subscribers | |
Monitor’s 7th Report to the Court
| PDF · Subscribers | |
Monitor’s 8th Report to the Court
| PDF · Subscribers | |
Creditors Meeting Order, dated November 25, 2009
| PDF · Subscribers | |
| Affidavit #7 of G. Clarahan (November 25th Application) | PDF · Subscribers | |
| Notice of Motion (November 25th Application) | PDF · Subscribers | |
Monitor’s 6th Report to the Court
| PDF · Subscribers | |
Monitor’s 5th Report to the Court
| PDF · Subscribers | |
Monitor’s 4th Report to the Court
| PDF · Subscribers | |
ATB Order, dated October 30, 2009
| PDF · Subscribers | |
| Affidavit #6 of G. Clarahan (October 30th Application) | PDF · Subscribers | |
Amended and Restated Initial Order authorizing the DIP, dated October 30, 2009
| PDF · Subscribers | |
Court Order dated October 30, 2009
| PDF · Subscribers | |
Order Dismissing WMT October 30, 2009 Application, dated November 25, 2009
| PDF · Subscribers | |
Schaub and Mibana AG Order, dated October 30, 2009
| PDF · Subscribers | |
Stay Extension Order, dated October 30, 2009
| PDF · Subscribers | |
Monitor’s 3rd Report to the Court
| PDF · Subscribers | |
| Affidavit #5 of G. Clarahan (October 30th Application) | PDF · Subscribers | |
Court Order dated October 26, 2009
| PDF · Subscribers | |
Amended and Restated Order Sought (October 16th Application)
| PDF · Subscribers | |
Monitor’s 2nd Report to the Court
| PDF · Subscribers | |
| Affidavit #4 of G. Clarahan (October 16th Application) | PDF · Subscribers | |
1st Extension Order
| PDF · Subscribers | |
Claims Process Order
| PDF · Subscribers | |
Monitor’s 1st Report to the Court
| PDF · Subscribers | |
| Affidavit #3 of G. Clarahan (September 10th Court Application) | PDF · Subscribers | |
Court Order dated August 27, 2009 (August 27th Court Application)
| PDF · Subscribers | |
| Affidavit #2 of G. Clarahan (August 27th Court Application) | PDF · Subscribers | |
| Notice of Motion (August 27th Court Application) | PDF · Subscribers | |
| Claims Package (Notice to Creditors, Proof of Claim, Claims Process Order) | PDF · Subscribers | |
Report of the Monitor and Information Circular
| PDF · Subscribers | |
Visionwall Initial Order
| PDF · Subscribers | |
| Affidavit of G. Clarahan (Initial Order) | PDF · Subscribers | |
| Notice of Motion (Initial Order) | PDF · Subscribers | |
Notice of Motion (October 16th Application)
| PDF · Subscribers | |
| Notice of Motion (October 30th Application) | PDF · Subscribers | |
| Notice of Motion (September 10th Court Application) | 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., “Visionwall Incorporated, Visionwall Corporation and 825764 Alberta Ltd” (CCAA), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/visionwall-incorporated-visionwall-corporation-and-825764-alberta-ltd