10003905 Canada Inc. (f/k/a Relogix Inc.)

10003905 Canada Inc., formerly Relogix Inc., filed a notice of intention to make a proposal under s. 50.4 of the BIA on January 26, 2024, in the Ontario Superior Court of Justice under court file 33-3015853, and the proceeding remains active. The Statement of Affairs listed 64 creditors with potential provable claims totalling $7.3 million, plus a Canada Revenue Agency deemed trust claim for unpaid payroll source deductions of approximately $520,618 and a secured claim of Royal Bank of Canada estimated at approximately $1.3 million. Against that, RBC has filed a secured proof of claim of $1,116,224 and a separate unsecured claim of $500,000; four secured lender proofs total $1,672,721, 16 unsecured proofs total $814,596 and 13 preferred proofs total $26,000. CRA has filed no proof of claim, and the trustee's review of RBC's security is pending. CRA trust claims are stated to rank ahead of RBC's secured recovery.