12729121 Canada Inc. (f/k/a MaxSold Incorporated)

12729121 Canada Inc., formerly known as MaxSold Incorporated, is subject to a proposal proceeding under Division I of the BIA. National Bank of Canada, holding a general security agreement over all present and future personal property registered under the Ontario PPSA pursuant to a Loan and Security Agreement dated March 16, 2022, as amended October 31, 2023, with an aggregate maximum principal amount of $5,000,000, reported a balance of $3,134,891.92 as of January 31, 2024, and issued a Notice of Intention to Enforce Security under s.244(1) BIA on February 9, 2024 following default. As of the date of the Notice of Intention to Make a Proposal, the Proposal Trustee reported unpaid vacation pay owing to 43 employees of $213,000, including approximately $63,000 in super-priority claims under s.60(1.3)(a) BIA, and aggregate unsecured claims of $950,000.