Alberta · Bankruptcy
Trustee's Report to Creditors
Court officer report · 11 March 2025
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What we verified from this filing13 verified
- applicantCanadian Western Bank
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date12 February 2025
- courtIN THE COURT OF KING’S BENCH OF ALBERTA
- court file no24-3190926
- secured creditorsnote: Judgement registered at PPR in the amount of $7,500,000, dated March 5, 2024. No proof of claim filed as of the date of this report. · page: 3 · as of: 2024-03-05 · amount: 7500000 · debtor: Ironclad Projects Ltd. · creditor: Bank of Montreal · currency: CAD · security: General security agreement over all present and after-acquired property; registered judgement
- secured creditorsnote: Second of two separate writs of seizure and sale registered by His Majesty the King in Right of Canada; no proof of claim filed as of date of this report. · page: 3 · amount: 35223 · debtor: Ironclad Projects Ltd. · creditor: His Majesty the King in Right of Canada · currency: CAD · security: Writ of Seizure and Sale registered at PPR
- secured creditorsnote: No proof of claim filed as of the date of this report; amount outstanding, if any, is unknown. · page: 3 · debtor: Ironclad Projects Ltd. · creditor: Concentra Bank · currency: CAD · security: Serial numbered oil tanks
- secured creditorsnote: One of two separate writs of seizure and sale registered by His Majesty the King in Right of Canada; no proof of claim filed as of date of this report. · page: 3 · amount: 136696 · debtor: Ironclad Projects Ltd. · creditor: His Majesty the King in Right of Canada · currency: CAD · security: Writ of Seizure and Sale registered at PPR
- secured creditorsnote: Senior secured lender; issued demand May 4, 2023 and later applied for Bankruptcy Order. Table estimates claim at $1,838 (000's); exact balance owing as at date of bankruptcy stated as approximately $1,838,215. CWB seized and sold certain assets pursuant to its security prior to bankruptcy. · page: 4 · as of: date of bankruptcy · amount: 1838215 · debtor: Ironclad Projects Ltd. · creditor: Canadian Western Bank · currency: CAD · security: Specific serial numbered equipment and a general security agreement over all present and after-acquired property
- unsecured creditorsnote: Amounts owing are unknown due to unavailable books and records as at the date of this report; no individual creditor names or amounts stated. · page: 4 · as of: date of this report · basis: Trustee has identified 12 potential unsecured creditors · debtor: Ironclad Projects Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The Trustee estimates there will be no recovery to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-03-11 · table missing: