12870428 Canada Inc. et al.

12870428 Canada Inc., together with 15223873 Canada Inc., 15224705 Canada Inc. and 15224721 Canada Inc., was placed in court-appointed receivership under section 243 of the BIA effective November 4, 2025. The Receiver's First Report puts total known creditors across the four debtors at $1,999,960.16, comprising secured debt owed to Royal Bank of Canada of $1,579,376.13 and unsecured claims of $420,584.03; potential priority claims for roughly six weeks of unpaid employee wages and for CRA indebtedness are recorded as unknown and excluded from that figure. RBC holds general security agreements and chattel mortgages from each debtor registered under the Ontario PPSA and is the only registered secured creditor; certain obligations were personally guaranteed by directors V. Kakkar and A. Chaman. The Receiver, working with limited unaudited information and non-cooperative management, states no total asset figure and has a security opinion pending from Gowling.