As New Autobody & Glass Ltd.

As New Autobody & Glass Ltd. is in bankruptcy under the Bankruptcy and Insolvency Act, with MNP Ltd. acting as Licensed Insolvency Trustee following a June 5, 2024 order of the Supreme Court of British Columbia. The Canada Revenue Agency asserts a deemed trust claim of $265,089.21 for unremitted payroll source deductions, ranking ahead of all other creditors, with the amount still being confirmed by the Trustee. Two employee claims processed through the Wage Earner Protection Program carry statutory security of $2,000 in aggregate under s. 81.3(1). A February 13, 2024 BC Personal Property Registry search disclosed registered interests held by the Royal Bank of Canada, Bank of Montreal, RCAP Leasing Inc., Color Compass Corporation, Fraser City Motors Ltd., 9859870 Canada Inc. and the Director of Employment Standards; the Trustee is corresponding with each. RBC has agreed that the costs of administering the bankruptcy be paid in priority to its security.