Welland Forge Corp.
Follow- Proceeding
- Proposals. 50 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
- File
- 32-2683371
Welland Forge Corp. commenced Division I proposal proceedings under the BIA on November 19, 2020 in the Ontario Superior Court of Justice (Commercial List) under court file 32-2683371, with BDO Canada Limited acting as Proposal Trustee. The Toronto-Dominion Bank holds a PPSA-registered general security interest over all of the company's assets securing a $65 million credit agreement dated February 19, 2019 and amended June 30, 2020, under which Welland Forge is guarantor and parent G&J Capital Inc. the borrower; a forbearance agreement dated October 27, 2020 is in place and TD is to be unaffected under the Proposal. Unsecured exposure as reported to the Proposal Trustee includes $2,065,000 in estimated termination and severance claims from 65 terminated employees, roughly 45 of them Unifor Local 523 members, $750,000 owed to trade creditors, and $8,500,000 to related parties who intend to postpone their debt. Assets proposed for sale fall outside Xerox Canada Ltd.'s photocopier lease security.
Motion Record of BDO Canada Limited (Returnable February 12, 2021) — Application / notice of application
6 earlier updates, back to 19 November 2020 — subscribers.
Undated filings1 — no date appears on the document · show
1 filings carry no date on their face — subscribers.
Debtor
Welland Forge Corp.
Proposal trustee
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hainey | Ontario Superior Court of Justice | 1 order, Feb 2021 | 196 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeBDO | Miller Thomson LLP | 12 Feb 2021 | Application · 12 Feb 2021 |
| DebtorWelland Forge Corp. | Madorin, Snyder LLP | 19 Nov 2020 | Application · 19 Nov 2020 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Xerox Canada Ltd. · in 72 casesSecurity interest registered under PPSA as security for lease of photocopiers — Assets proposed for sale (Purchased Assets) are not subject to Xerox's security interest — debtor: Welland Forge Corp. | — | First Report of Proposal Trustee |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
2 transactions · 1 proposed · 1 approved — the Transaction is hereby approvedApproval of the Sale of Assets · 25 Nov 2020
| Purchaser | Price | Status | Source |
|---|---|---|---|
| referred to only as 'the Purchaser'; identified as PC Forge, a sister company located in Port Colbornethree items of WFC's Equipment (the 'Purchased Assets'): Erie 4,000 Metric Ton Press, National 4' Upsetter, and Miller 200 AMP TIG Welder · asset sale | not stated | Proposed | First Report of Proposal Trustee |
| IMT Partnershipcertain assets by Welland to IMT Partnership ... and vesting in the Purchaser all of Welland's right, title and interest in and to the assets described in the bill of sale ("Purchased Assets") · asset sale | Subscribers | Approved25 Nov 2020 | Approval of the Sale of Assets |
Unsecured creditors: a distribution.Under the plan · sanctionedCreditors Package · 1 Dec 2020
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| WEPPA | Former Employees - WEPP claims | — | a distribution | Under the plansanctionedper the trustee | Creditors Package · 1 Dec 2020 |
| Unsecured | — | — | a distribution | Under the plansanctionedper the trustee | Creditors Package · 1 Dec 2020 |
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.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
| Endorsement, Hainey, J. (February 12, 2021) | PDF · Subscribers | |
Motion Record of BDO Canada Limited (Returnable February 12, 2021)
| PDF · Subscribers | |
Order of Hainey, J. (February 12, 2021)
| PDF · Subscribers | |
Second Report of Trustee (Final)
| PDF · Subscribers | |
Approval of the Sale of Assets
| PDF · Subscribers | |
First Report of Proposal Trustee
| PDF · Subscribers | |
Motion Record of Welland Forge dated Nov 19 2020
| PDF · Subscribers | |
| Lift Stay Order | PDF · Subscribers | |
| Welland Forge Corp Mailing to Creditors | PDF · Subscribers | |
Creditors Package
| 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., “Welland Forge Corp.” (Proposal), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/welland-forge-corp