2192498 Ontario Ltd. oa Rainy Lake Tribal Contracting

2192498 Ontario Ltd., operating as Rainy Lake Tribal Contracting, is in bankruptcy under the Bankruptcy and Insolvency Act, and the proceeding remains active. The Statement of Affairs, as stated and estimated by the officer as at March 4, 2017, puts total assets at $738,001.00 against total liabilities of $1,880,135.00, a stated deficiency of $1,142,134.00. Unsecured claims total $1,619,627.00, with preferred creditors at $7.00 and contingent liabilities at $1.00; the secured claims balance is stated as nil. Rainy Lake Tribal Development Corporation is by far the largest unsecured creditor at $1,251,305.00. Secured claims are led by two TD Canada Trust loans of $156,000.00 and $74,000.00 against John Deere logging and excavation equipment, with Charlie's Truck & Tractor Sales at $20,000.00, a $10,000.00 CRA deemed trust claim and $500.00 owing to the Town of Atikokan against real property on MacKenzie Avenue E.