Alberta · Receivership (court-appointed)
Fourth Report of the Receiver, dated October 12, 2026
Court officer report · 12 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 filing10 verified
- secured creditorsnote: Report does not state the amount owing or the security held; those are referred to the Starenky Affidavit. · page: 4 · debtor: Jay's Metal Products Ltd., Jay's Metal Structural Ltd., Jay's Metal Steel Framing Ltd., Jay's Metal Edmonton Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Applicant lender in the receivership (Starenky Affidavit, sworn August 10, 2026). The Bajwa transcript describes RBC equipment leases and loans that RBC was being paid out of via a July 2026 Essex/Sallyport refinancing that did not close; no balance or security particulars are stated in the pages provided.
- unsecured creditorsnote: The $50,000 is a cheque payment of July 28, 2026 from Jay's Framing to Mr. Bhinder (reported by the Receiver as a potentially reviewable transaction), described by Mr. Bajwa as repayment, so the debt may already be discharged. Mr. Bajwa initially testified he had 'no idea' what the cheque related to. · page: 17 · as of: 2026-07-28 · basis: Mr. Bajwa's testimony: friend who advanced $50,000 in March 2026 on a verbal loan, no security known · amount: 50000 · debtor: Jay's Metal Steel Framing Ltd. · creditor: Gurwinder Singh Bhinder · currency: CAD
- unsecured creditorsnote: Not a stated arrears claim; payment on the date of the Receivership Order is noted for completeness. No balance owing stated. · page: 45 · basis: Mr. Bajwa's testimony: drafting/design services outsourced overseas; 779,132 rupees wired on August 20, 2026 (CAD 11,500 outgoing wire) · debtor: Jay's Metal Products Ltd. · creditor: NSJK Sons Drafting Private Limited (India) · currency: CAD
- unsecured creditorsnote: These are Mr. Bajwa's personal lenders, not creditors of the Companies; listed because the transfers to repay them drew down company funds. Amount for Mr. Barr is Mr. Bajwa's approximation ('probably 150,000'). · page: 51 · basis: Mr. Bajwa's testimony that he borrowed about $150,000 from Simran Barr and amounts from family to fund the business, repaid from transfers out of the Jay's Products account · debtor: Mr. Bajwa personally (not a debt of the Companies) · creditor: Simran Barr and other friends/family lenders to Mr. Bajwa · currency: CAD
- unsecured creditorsnote: Related party (director/President). Approximate figure given by Mr. Bajwa, unsupported by ledgers; undertaking given to provide details on a best-efforts basis. The Receiver reports approximately $610,300 was paid to or for Mr. Bajwa between August 5 and August 21, 2026, characterized by him as shareholder loan repayment; the Trustee is considering a challenge under s.95(1) BIA. The Receiver makes no determination on characterization. · page: 53 · basis: Mr. Bajwa's sworn evidence, 'close to a million dollar' still outstanding after the August 2026 repayments · amount: 1000000 · debtor: Jay's Metal Products Ltd. · creditor: Mr. Bajwa (shareholder loan from Jagjit Bajwa to the Companies) · currency: CAD
- secured creditorsnote: Per Mr. Bajwa's testimony the Essex deals DID NOT CLOSE, so no lease balance is stated; the cross-guarantees to Essex exist as signed documents but no amount is claimed. Mr. Bajwa also referred to a loan with Sallyport as part of the same refinancing plan; no terms or balance are stated. · page: 66 · debtor: Jay's Holding Corp.; cross-guarantees from Jay's Products, Jay's Framing and the other group companies · creditor: Essex Lease Financial Corporation · currency: CAD · security: Proposed sale-leaseback transactions of July 27, 2026: Jay's Products to sell 21 machines and forklifts for $1.1 million; Jay's Framing to sell 12 roll forming and punch press machines for about $447,000, with leases back to Jay's Holding. Equipment to be leased under serial-numbered schedules.
- unsecured creditorsnote: Figure is an estimate; Mr. Bajwa's own estimate ($82,000-$83,000) differs and he has no invoice. Receiver states this would be an unsecured claim under the Receivership Order. Whether Mr. Dhaliwal is a related party is unconfirmed. The consultant has asserted pending invoices must be cleared before sharing information. · page: 78 · basis: Receiver's September 25, 2026 correspondence: 'estimated at $90,000' per Mr. Bajwa's advice; Mr. Bajwa testified the arrears are '82, 83,000' · amount: 90000 · debtor: Jay's Metal group · creditor: IT Consultant (Ajay Dhaliwal), website/app provider · currency: CAD
- operational summaryThe Debtors' operations have ceased under receivership; the report focuses on Management's incomplete compliance with court orders on books and records, unlocated computers and assets, and pre-receivership insider payments to Mr. Bajwa totalling roughly $610,300, with allegations (not yet investigated or found) that assets and business were diverted to 'The Metal Group'.
- report date12 October 2026
- report noFourth Report