Quebec · Receivership (court-appointed)
Trustee's Report to Creditors on Preliminary Administration
Court officer report · 19 November 2025
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What we verified from this filing5 verified
- financial positionnote: Trustee states 'Fermetco is currently inoperative and has no realizable assets' (para 16); no total liabilities figure stated for the Company as a whole (claims register totals reflect only the unsecured creditor class, $23,640,117.24 SOA amount / $3,506,542.09 filed). · page: 2 · as at: 2025-11-19 · basis: Trustee's preliminary report relying on unaudited financial information from the Company's books and records; not an audit or review · scope: entity - Fermetco Inc. · currency: CAD · total assets: 0
- secured creditorsnote: Trustee's report describes RBC as the 'main secured creditor' who sought appointment of the Receiver and as the 'primary secured creditor' with a 'significant unpaid balance' (para 9, 21). However, the Statement of Affairs reflects no secured creditor 'given the null value of assets' after the receivership asset realization. The Claims Register (p.6) lists RBC's claim of $15,456,084.63 (SOA amount) under 'Unsecured creditors' (Not proved), indicating the security was exhausted via the December 2024 Receivership Distribution and the remaining balance is now an unsecured deficiency claim. · page: 3 · debtor: Fermetco Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD
- closing confirmedscope: the Transaction (totality of the inventory and fixed assets of Fermetco) · outcome: completed · date basis: unstated · approval order date: 2024-12-18
- purchaserprice: sealed: false · scope: the totality of the inventory and fixed assets of Fermetco · status: closed · name note: buyer identified via Call for tenders, unnamed · structure: assets · name source: recital · relationship: unstated
- sale outcometext: The Transaction closed and proceeds were remitted to RBC; the company is now inoperative with no realizable assets. · scope: whole_business · status: closed