Quebec · Receivership (court-appointed)
Sixth report
Court officer report · 21 July 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing8 verified
- secured creditorsnote: Deemed trust claim for employee source deductions; amount still subject to the Receiver's review, precise figure not stated. · page: 5 · debtor: Canadoil Forge Ltd. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Deemed trust claim for employee source deductions. · page: 6 · amount: 508743.95 · debtor: Canadoil Forge Ltd. · creditor: Revenu Québec · currency: CAD
- secured creditorsnote: Settlement reached July 16, 2026 regarding the construction legal hypothec; settlement amount not disclosed in this excerpt. · page: 6 · as of: 2026-07-16 · debtor: Canadoil Forge Ltd. · creditor: Électricité & Contrôle J. Labonté Inc. · currency: CAD · security: Construction legal hypothec
- secured creditorsnote: Stated as 'approximately $28 million ... subject to adjustment, interest and fees'; prose approximation, no exact dated balance provided. · page: 6 · as of: 2026-07-10 · amount: 28000000 · debtor: Canadoil Forge Ltd. · creditor: Fiera Private Debt Fund VI LP and Fiera Private Debt Fund VII LP · currency: CAD · security: Various credit agreements (secured lender; also provided court-approved interim financing)
- closing confirmedscope: completion of their sale · outcome: completed · effective: 2026-03-20 · date basis: stated · approval order date: 2026-02-26
- purchaserNMG Bécancour Inc.; Canadoil Fittings Inc.
- recovery outcomeentries: basis: actual · quote: On March 24, 2026, repaid the principal and interest of the interim financing and made an initial interim distribution to Fiera in the amount of $4,701,279; · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 4701279 · cumulative: false · amount high: 4701279 · class label: Fiera · creditor name: Fiera · interim final: interim · currency quote: all cash amounts referred to herein are expressed in Canadian dollars · claims qualifier: unstated; basis: unstated · quote: The Receiver is seeking the Court's authorization to distribute a partial amount of $9.925 million (the ' Second Interim Distribution ') from the funds held by the Receiver resulting from the transaction with Canadoil Fittings Inc. and NMG Bécancour Inc. (the ' Transactions ') to Fiera, in partial payment of amounts owing to Fiera. · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 9925000 · cumulative: false · amount high: 9925000 · class label: Fiera · claims amount: 28000000 · creditor name: Fiera · interim final: interim · currency quote: all cash amounts referred to herein are expressed in Canadian dollars · claims qualifier: estimated; basis: unstated · quote: The Receiver is seeking the Court's authorization to distribute to RQ an amount of $508,743.95 with respect to its deemed trust claim. · pct of: unstated · outcome: distribution · currency: CAD · class key: deemed_trust · stated by: receiver · amount low: 508743.95 · amount high: 508743.95 · class label: Revenu Québec (deemed trust) · creditor name: Revenu Québec · interim final: unstated · currency quote: all cash amounts referred to herein are expressed in Canadian dollars · claims qualifier: unstated; basis: unstated · quote: The Receiver is also seeking the Court's authorization to distribute an aggregate amount of $56,159.99 to (i) Fonds de Solidarité FTQ ($13,950.35) and (ii) Industrielle Alliance ($42,209.64), which represents the amount deducted from the employees' pay with respect to their RRSP contributions (priority claim under section 81.6 of the BIA). · pct of: unstated · outcome: distribution · currency: CAD · class key: preferred · stated by: receiver · amount low: 56159.99 · amount high: 56159.99 · class label: Fonds de Solidarité FTQ and Industrielle Alliance (RRSP contributions, priority claim under s. 81.6) · interim final: unstated · currency quote: all cash amounts referred to herein are expressed in Canadian dollars · claims qualifier: unstated · stated on: 2026-07-10 · table missing:
- sale outcometext: the transaction with Canadoil Fittings Inc. and NMG Bécancour Inc. · scope: whole_business · status: closed