1551875 Ontario Inc. Brosco Excavating

1551875 Ontario Inc., operating as Brosco Excavating, is bankrupt under the Bankruptcy and Insolvency Act in Ontario, with MNP Ltd. acting as Licensed Insolvency Trustee under file number 35-2824610. The bankruptcy commenced on 26 April 2022 and the proceeding remains active. The company's financed equipment was liquidated before the bankruptcy and the proceeds paid to its equipment lenders to the extent of their registered charges. The trustee understands the amount due to Libro Credit Union, which held a general security agreement over the company's assets, was paid in full before the bankruptcy; the trustee froze that account afterward. The Statement of Affairs reports unsecured claims of $1,505,632, against which $83,896 in claims have been received to date, deemed trust claims of $3,000 with no claims received, and no preferred claims.