1375871 B.C. Ltd.
Follow- Proceeding
- BankruptcyBankruptcy and Insolvency Act
- File
- 11-3137984
1375871 B.C. Ltd. has been in bankruptcy under the Bankruptcy and Insolvency Act since October 7, 2024, with MNP Ltd. acting as Licensed Insolvency Trustee in the Supreme Court of British Columbia under file 11-3137984. Liabilities are reported at $249,271 against assets of $5,000, a figure the directors estimated in the Statement of Affairs; the Trustee found no assets of material value on attending the Company's leased premises. Royal Bank of Canada, holding general security registered on the BC personal property registry, has filed a proof of claim for $190,231 secured and $10,000 unsecured. The Canada Revenue Agency asserts a deemed trust over unremitted payroll source deductions ranking ahead of all other creditors, and has not filed a proof of claim. The Trustee expects no employee priority claim, wages and vacation pay having been paid.
Court officer's report filed on commencement, recording that the company made a voluntary assignment effective October 7, 2024, the date the proceedings began.
Debtor
1375871 B.C. Ltd.
Trustee in bankruptcy
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) · in 926 casesDeemed trust claim over unremitted payroll source deductions, ranking in priority to all other creditors — Deemed trust class claim; amount not stated - no proof of claim received from CRA to date; Trustee to confirm amounts owing, if any. — debtor: 1375871 B.C. Ltd. | — | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Royal Bank of Canada (RBC) · in 556 casesas of proof of claim filed — General security over the Company's assets (BC PPR registration) — RBC filed proof of claim with secured claim of $190,231 and unsecured claim of $10,000 (see unsecured entry). Statement of Affairs listed secured creditors at $185,139; proof of claim figure of $190,231 is the exact/updated amount. — debtor: 1375871 B.C. Ltd. | $190K | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Employees (wage earners) · in 185 casesStatutory security under BIA s.81.3(1) over Company's other property, to extent of $2,000 per employee for wages/vacation pay/compensation in the 6 months preceding bankruptcy — Trustee estimates no priority claim will arise as employees were paid all wages and vacation pay; amount represents statutory cap, not a confirmed balance owing. — debtor: 1375871 B.C. Ltd. | $2K | Trustee's Preliminary Report to Creditors |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesas of Statement of Affairs — Document names no individual unsecured creditors. Statement of Affairs table elsewhere shows $49,044 (SOA) vs $59,040 (Filed) for unsecured creditors specifically, differing from the $229,183 total reported in the narrative section; both figures as stated in document, discrepancy not reconciled by Trustee. No proofs of claim had been filed as of report date. — debtor: 1375871 B.C. Ltd. | $229K | Trustee's Preliminary Report to Creditors |
| 8 | Unsecured | Royal Bank of Canada (RBC) - unsecured portion · in 556 casesas of proof of claim filed — RBC's proof of claim bifurcated into secured ($190,231, see secured entry) and unsecured ($10,000) portions. — debtor: 1375871 B.C. Ltd. | $10K | Trustee's Preliminary Report to Creditors |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
per Statement of Affairs (Directors' estimated values) and Filed figures as reported by Trustee · entity - 1375871 B.C. Ltd. — Table shows two columns: 'Statement of Affairs' ($234,183 total) and 'Filed' ($249,271 total); Filed column used as more current figure. Assets of $5,000 per Statement of Affairs represent Directors' estimate; Trustee noted no assets of material value upon attendance at leased premises.
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report to Creditors
| ||
| Creditor's package - Notice of First Meeting of Creditors | ||
Certificate of Appointment
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “1375871 B.C. Ltd.” (Bankruptcy), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/1375871-bc-ltd