Soudure Mick Mobile files proposal after NOI to restructure trade and secured debt

Québec mobile welder Soudure Mick Mobile Inc. filed a notice of intention to make a proposal on December 15, 2025 and subsequently filed a formal proposal on January 14, 2026 under Part III, Division I of the Bankruptcy and Insolvency Act, seeking creditor approval of a restructuring that would allow it to continue operating its welding business. MNP Ltd. is the proposal trustee.

Founded in April 2020, Soudure Mick Mobile is a Albanel, Québec-based company specializing in mobile welding services. According to the proposal trustee, the company incurred sustained operating losses as a result of unfavourable market conditions combined with increased operating costs. These pressures weakened liquidity and impaired the company’s ability to meet obligations to suppliers, lenders, and taxing authorities as they came due.

As at the proposal filing, total liabilities were reported at approximately $331,805, consisting of $155,220 in secured claims and $176,585 in unsecured claims. Unsecured creditors are primarily trade suppliers, service providers, and government authorities.

Under the proposal filed on January 14, 2026, Soudure Mick Mobile Inc. proposes to establish a settlement fund of $40,000, payable through 16 consecutive monthly installments of $2,500. Secured creditors will be paid in accordance with existing security agreements or negotiated arrangements. Crown claims for unremitted source deductions will be paid in full within 6 months of court approval, outside the settlement fund. Employee wage and vacation claims, if any, will be paid in the ordinary course. Preferred claims will be paid in priority from the fund, with the remaining balance distributed pro rata to unsecured creditors.

The trustee estimates that unsecured creditors would receive a dividend of approximately 14% under the proposal, compared with no recovery in a bankruptcy scenario. A meeting of creditors is scheduled for February 4, 2026.