Alberta · Bankruptcy

Creditor Package

Meeting materials · 15 December 2025

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appointeeGlassRatner Restructuring Inc.
appointee roleTrustee
commencement date10 December 2025
proceeding typebia_bankruptcy
provinceALBERTA
statutory basisSubsection 102(1) of the Act
statutory basisSubsection 102(1) of the Act
financial positionnote: Statement of Affairs shows a deficiency of $771,500.21 (surplus figure shown as $771,500.21 offsetting on liabilities side per form layout); secured creditors $1,419,444.50, preferred creditors $0.00, unsecured creditors $771,500.21. · page: 2 · as at: 2025-12-05 · basis: Statement of Affairs (Form 78) - totals from the list of assets and liabilities as stated and estimated by bankrupt/debtor · scope: Entity - Bay Tank and Vessel of Canada Ltd. (the bankrupt corporation) · currency: CAD · total assets: 1419444.5 · total liabilities: 2190944.71
secured creditorsnote: Total claim reported as $1,569,390.67, split $1,419,444.50 secured / $149,946.17 unsecured per Statement of Affairs (Form 78); unsecured portion also listed under unsecured creditors. · page: 4 · as of: 2025-12-05 · amount: 1419444.5 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: National Bank of Canada · currency: CAD · security: General Security Agreement dated 24-Apr-2012 over assets nos. 101, 1301, 1102, 1101, 501 (cash, A/R, trade fixtures, machinery/equipment, other personal property)
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 4820.29 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Encore · currency: CAD
unsecured creditorsnote: Owed rent · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 1 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Gateway Tubulars · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 8106.53 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Higher Ground Consulting · currency: CAD
unsecured creditorsnote: Insurance · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 1 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Marsh Insurance · currency: CAD
unsecured creditorsnote: Severance pay; preferred/priorities column shown as $0.00 · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 1 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Employees - Various · currency: CAD
unsecured creditorsnote: Reimbursable expenses · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 4573.67 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Employee Expenses · currency: CAD
unsecured creditorsnote: Nature of liability not specified in listing · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 1 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: DocuSign · currency: CAD
unsecured creditorsnote: Corporate taxes; deemed trust class (CRA indebtedness) · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 1 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: CRA - Tax Prairies · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 37750 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: CDM Consulting · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 24150 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Black Gold Inspection & Design · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 12227.04 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Bakos NDT · currency: CAD
unsecured creditorsnote: Owed rent · page: 4 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 1 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Aspen Properties · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 112.09 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Tippet Richardson · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 2153.4 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: WCB - Workers Compensation Board of Alberta · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 40371.45 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Wonowon Lodge · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 1025 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Miles Davison LLP · currency: CAD
unsecured creditorsnote: Unsecured shortfall portion of General Security Agreement claim; total claim $1,569,390.67 (secured $1,419,444.50 + unsecured $149,946.17) · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 149946.17 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: National Bank of Canada · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 19414.04 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Onsite IT · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 8532.65 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Peace Country Rental · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 191090.05 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Sandborn Roofs Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 167885 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Storage Tank Solutions · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 91836.83 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Sub-Arc Systems · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-12-05 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 7500 · debtor: Bay Tank and Vessel of Canada Ltd. · creditor: Summit Trucks · currency: CAD