9316-8722 Québec Inc.

9316-8722 Québec Inc. entered bankruptcy on April 8, 2019, in the Superior Court of Québec, with MNP Ltée appointed trustee under article 49 of the Bankruptcy and Insolvency Act. The trustee reported total liabilities of $513,549 against a declared asset value of $16,761, but stated that all assets are encumbered in favour of creditors and have no realizable value, so no dividend is expected for unsecured creditors. Royal Bank of Canada held the largest secured claim, $425,500, secured by a first-ranking hypothec over movable property, and had sent the trustee notice of its intent to exercise a hypothecary right of sale under judicial control. Evolocity Financial Group held a second-ranking hypothec securing $18,000. Unsecured creditors were declared at $70,048 in aggregate, without individual creditors named, against which $25,174 had been received to date.