Omega Lift's assets included forklifts, parts and tools

The assets of Omega Lift have been sold to Hilco Industrial Acquisitions Canada for an undisclosed sum.

Toronto insolvency firm KSV Advisory has released its final report on the liquidation of the Canadian forklift manufacturer which ceased operations in July, owing more than CAD10.8 million to secured creditors.

The purchase price for the assets, not including Omega Lift's intellectual property and designs, has been redacted from the report.

The sale included dozens of forklifts of various makes, tools and equipment and Omega Lift's parts inventory. The goods will be sold by auction.

It is believed KSV Advisory intends selling the intellectual property separately.

The receiver expects to vacate the Bolton site by the end of October.

The bad news for customers who have paid for goods not received and for suppliers awaiting payments is that "the receiver does not contemplate any recoveries for unsecured creditors".

It's not clear how much of Omega Lift's debt has been recovered for secure creditors, but the 298-page report does reveal KSV Advisory's CAD133,670 fee and a further CAD45,288 billed by law firm Aird & Berlis.

Forkliftaction News was referred to the receiver's website when we asked for information on the insolvency and liquidation.