Ontario · CCAA
Forty-Eighth Report of the Monitor and Receiver, dated October 21, 2026
Court officer report · 21 October 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing18 verified
- unsecured creditorsnote: All D&O Claims now fully and finally resolved or withdrawn; the last (~$49,000) was disallowed in its entirety by NORD. Included for history, not a live claim. · page: 11 · basis: D&O Claims as originally filed (approximately); one nine-claim total ~$515M less a withdrawn ~$2.3M claim · amount: 510000000 · debtor: Directors and officers of the Applicants · creditor: D&O Claimants (eight claimants, aggregate) · currency: CAD
- secured creditorsnote: Priority claims are asserted, not yet proven; amount not summed. Monitor expects TTC and Seaforth proceeds are insufficient to satisfy all lien claims in full; Borden may satisfy all lien claims with a balance for trust claims. Estimated initial distributions to Proven Priority Claims: TTC at least 4%, Borden at least 19%, Seaforth at least 5%. Distribution order: Project Charges (super-priority), post-filing subcontractor amounts (~$0.13M TTC, ~$0.1M Borden, ~$5,000 Seaforth), Proven Priority Claims, Term Sheet Orders amounts, then general unsecured creditors. Some claims also asserted against surety bonds; AIG and Travelers filed placeholder contingent claims. · page: 15 · as of: 2026-09-30 · debtor: Carillion Construction Inc. / Carillion Pacific Construction Inc. · creditor: Priority Claimants with lien/trust priority claims on Construction Project Proceeds (subcontractors, per project) · currency: CAD · security: Lien Regularization Order; statutory lien/trust priority over segregated Construction Project Proceeds reserves. Reserves (net of costs, as described in the glossary): Borden ~$1.3M, TTC ~$1.5M, Seaforth ~$0.7M, Bremner ~$16.3M, Niagara ~$3.9M. Higher of claims/lien notices as filed (Appendix D, $M): Borden 3.9; Bremner 29.1; Niagara 5.9; Seaforth 10.5; TTC Vaughan 63.7; total 113.2.
- secured creditorsnote: Amounts not stated in the document; repaid first from Construction Project Proceeds. · page: 16 · debtor: Carillion Construction Inc. / Carillion Pacific Construction Inc. · creditor: Project Charges beneficiaries (intercompany or third-party advances for construction projects) · currency: CAD · security: Super-priority Project Charge under the Second Amended Project Charges Order (Oct 18, 2019) against amounts paid or payable in respect of the specific construction project
- unsecured creditorsnote: Settled for a $350,000 Settlement Payment (inclusive of HST) by CCI; condition precedent includes MECP amending its Director's Order to remove CCI; the related MECP Claim is also resolved by the settlement. Described in the Thirty-Fourth Report, so status as of 2021. · page: 49 · basis: Claims filed; to be withdrawn without review under the Picton Settlement Agreement · amount: 462000000 · debtor: Carillion Canada Inc. · creditor: Picton CCAA Claims (HBBC Parties and DiRocco Parties) · currency: CAD
- unsecured creditorsnote: Cash held back until resolved; claim as assigned by Carillion plc; GLAS Trust claims are treated as third-party creditor claims for distribution purposes. · page: 64 · basis: Related Party Claim as filed; held as Unresolved Related Party Claim Amount in reserve · amount: 303753400 · debtor: Carillion Canada Inc. · creditor: GLAS Trust (assignee of Carillion plc related party claim) · currency: CAD
- unsecured creditorsnote: Related party claim. · page: 64 · basis: Related Party Claim, Monitor-recommended revised amount to be accepted as unsecured (filed at $25,560,431, increased by $228,124.05) · amount: 25788555.05 · debtor: Carillion Services (FSCC) Inc. · creditor: Carillion Canada Inc. · currency: CAD
- unsecured creditorsnote: Related party claim; recommended revision after reversal of unsupported journal entries. · page: 64 · basis: Related Party Claim, Monitor-recommended revised amount to be accepted as unsecured (filed at $20,280,861.18, revised up by $17,069,625.48) · amount: 37350486.66 · debtor: Carillion Canada Inc. · creditor: Outland Camps Inc. · currency: CAD
- unsecured creditorsnote: Related Party Claim; directly relates to quantum of GLAS Trust claim. · page: 64 · basis: Related Party Claim as filed; held as Unresolved Related Party Claim Amount in reserve · amount: 24920033 · debtor: Rokstad LP (RPC LP) · creditor: Carillion Canada Inc. (intercompany claim against Rokstad LP) · currency: CAD
- unsecured creditorsnote: Cash held back until resolved. · page: 64 · basis: Related Party Claim as filed; held as Unresolved Related Party Claim Amount in reserve · amount: 173560000 · debtor: Rokstad LP (RPC LP) · creditor: GLAS Trust (assignee of Carillion plc related party claim) · currency: CAD
- unsecured creditorsnote: Related party claim. The filing-date balance is stated as of the date before the Outland entities were brought into the CCAA proceedings on March 7, 2018. · page: 66 · as of: 2018-03-06 · basis: Related Party Claim, revised from $31,030,807.71 as filed to intercompany balance at filing date; recommended for acceptance as unsecured · amount: 30842096.76 · debtor: Outland Camps Inc. · creditor: Outland Resources Inc. · currency: CAD
- unsecured creditorsnote: Includes related party claims; per entity ($M): Carillion Canada Inc. 417.2; Carillion Construction Inc. 217.3; Outland Camps 44.5; Outland Resources 45.4; Carillion Canada Finance Corp. 25.0; Carillion Pacific 21.6; Carillion Services 1.5; FSCC 1.2; Bearhills 0.1; Carillion Investments (Canada) 0.1. Estimated interim distribution percentages vary by entity (e.g. CCI 12.54%, Carillion Construction 17.40%). Total shown is a stated total, not computed. Names of individual unsecured creditors are not itemized on these pages. · page: 80 · as of: 2021-06-25 · basis: Estimated Claims Pool per Thirty-Fourth Report (Table 14), rounded CAD millions, as summarized in Appendix B · amount: 773900000 · debtor: Carillion Applicants and Debtors (aggregate) · creditor: Unsecured creditors (aggregate, Estimated Claims Pool across Applicants/Debtors) · currency: CAD
- cash on handnote: Opening cash position of the Carillion Cash Flow Forecast (Carillion Applicants, excluding Rokstad Applicants); the Rokstad Cash Flow Forecast opening cash position is approximately $20.3 million. Appendix F shows opening cash as of October 11, 2026 (Carillion $99,431K; Rokstad $20,362K). · as at: 2026-10-11 · amount: 99400000 · currency: CAD · qualifier: approximately
- closing confirmedscope: the Fairfax Transaction (initial closing) · outcome: completed · effective: 2018-03-07 · date basis: stated; scope: the Fairfax Additional Purchased Assets · outcome: completed · effective: 2018-03-12 · date basis: stated; scope: the EllisDon Purchased Business · outcome: completed · effective: 2018-04-20 · purchaser: EllisDon · date basis: stated; scope: the Roads Business · outcome: completed · effective: 2018-07-31 · purchaser: Emcon · date basis: stated · approval order date: 2018-07-24; scope: the Rokstad Transaction · outcome: completed · effective: 2018-08-10 · date basis: stated · approval order date: 2018-06-20
- operational summaryThe Applicants have sold all operating businesses and assets and settled their affirmative construction claims; the estates are now reviewing and resolving remaining creditor claims, making interim distributions, and seeking a stay extension to April 30, 2027 plus authority to distribute three construction project settlement reserves.
- purchaserprice: note: Purchase price allocated among the Fairfax Vendors (Fairfax Purchase Price Allocation); total not stated in the text present · sealed: false · scope: Fairfax Transaction: purchased assets of the Fairfax Vendors, plus the Fairfax Additional Purchased Assets · status: closed · name note: Fairfax Purchaser not named in the text present · structure: assets · name source: recital · relationship: unstated; EllisDon; Emcon; price: note: balance of purchase price subject to post-closing reconciliation motion · sealed: false · scope: the Applicants' majority interest in the Rokstad Entities, including majority of the assets and liabilities of Rokstad LP, Plowe and Golden Ears, excluding the ILM, WATL and Bi-Pole III projects · status: closed · name note: Rokstad Purchaser, name not given in the text present · structure: hybrid · name source: recital · relationship: unstated
- recovery outcomeentries: basis: estimated · quote: The estimated interim distribution is 5% of Proven Claims against RPC LP. · pct of: proven_claims · outcome: distribution · pct low: 5 · pct high: 5 · class key: unsecured · stated by: monitor · class label: Claimants with Proven Claims against RPC LP · claims amount: 413700000 · interim final: interim · claims qualifier: estimated; basis: estimated · quote: The Monitor estimates that Priority Claimants with Proven Priority Claims in respect of the TTC Project will receive an initial distribution from the TTC Project Settlement Proceeds Reserve of at least 4% of the Proven Priority Claims against the TTC Project. · pct of: proven_claims · outcome: distribution · pct low: 4 · pct high: 4 · class key: preferred · stated by: monitor · class label: Priority Claimants with Proven Priority Claims in respect of the TTC Project · interim final: unstated · conditional on: Further distributions may increase as further Priority Claims against the TTC Project are resolved · claims qualifier: unstated; basis: estimated · quote: The Monitor estimates that Priority Claimants with Proven Priority Claims in respect of the Borden Project will receive an initial distribution from the Borden Project Settlement Proceeds Reserve of at least 19% of the Proven Priority Claims against the Borden Project. · pct of: proven_claims · outcome: distribution · pct low: 19 · pct high: 19 · class key: preferred · stated by: monitor · class label: Priority Claimants with Proven Priority Claims in respect of the Borden Project · interim final: unstated · conditional on: Further distributions may increase as further Priority Claims against the Borden Project are resolved · claims qualifier: unstated; basis: estimated · quote: The Monitor estimates that Priority Claimants with Proven Priority Claims in respect of the Seaforth Project will receive an initial distribution from the Seaforth Project Settlement Proceeds Reserve of at least 5% of the Proven Priority Claims against the Seaforth Project. · pct of: proven_claims · outcome: distribution · pct low: 5 · pct high: 5 · class key: preferred · stated by: monitor · class label: Priority Claimants with Proven Priority Claims in respect of the Seaforth Project · interim final: unstated · conditional on: Further distributions may increase as further Priority Claims against the Seaforth Project are resolved · claims qualifier: unstated; basis: estimated · quote: Accordingly, the Claimants of Carillion Holdings and Carillion Finance will not receive any distribution; · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Claimants of Carillion Holdings and Carillion Finance · interim final: unstated · claims qualifier: unstated · stated on: 2026-10-21 · table missing:
- report date21 October 2026
- report noForty-Eighth Report