10135739 Canada Inc.

10135739 Canada Inc., an Ontario company, became bankrupt on November 25, 2022 under court file 31-2887950, with MNP Ltd. acting as licensed insolvency trustee and reporting to creditors under subsection 102(4) of the BIA. The company's sworn Statement of Affairs reports total liabilities of $3,595,550.61, comprising secured claims of $159,822.86, nil preferred and unsecured claims of $3,435,727.75, against assets carried at $7,821.86 in deposits, inventory of $2,000, machinery and equipment written down to $150,000 and leasehold improvements valued at $1. Royal Bank of Canada holds security over all assets, equipment and inventory and is owed approximately $621,587.18; an opinion on the validity and enforceability of that security remains outstanding, and distributions turn on it. Related party Groupe Evoluco Inc. is shown owed more than $2.2 million, and the trustee is reviewing roughly $278,000 in net repayments to it as a potential preference.