July 29, 2021
North American Steel Erectors Inc., a Cochrane, Alberta-based company that provides steel erector contracting and other services to large construction projects, was placed in bankruptcy on July 29 on application by BNS, owed approximately $1.8 million. The company also owes $2.4 million to Roynat Inc. and $1.2 million to the CRA. At the time of the bankruptcy, the company had three open contracts - one in Alberta and two in Ontario. It attributes its financial difficulties to a project for the supply of steel on a 9th Avenue bridge project in Calgary which is currently the subject of litigation. MNP is the bankruptcy trustee and has determined that there is no economic benefit to complete any of the three open contracts. Counsel is McMillan for BNS, Ramsay Legal Counsel for the company, Thompson Dorman Sweatman for Exact Detailing Ltd and Caron & Partners for the bankruptcy trustee.