Proceedings.

Bench Accounting, Inc. and 10Sheet Services Inc.

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Active
Proceeding
BankruptcyBankruptcy and Insolvency Act
Court
Supreme Court of British Columbia
File
B-250050
Filings held29
Last activity9 Apr 2025
On the record622 days
Secured debtSubscribers
OverviewSummary updated

Bench Accounting, Inc. and 10Sheet Services Inc. are in bankruptcy under the Bankruptcy and Insolvency Act in the Supreme Court of British Columbia at Vancouver, the proceedings having commenced on January 7, 2025. Before the filing the companies ran a combined business supplying accounting, bookkeeping, tax and other financial services to over 10,000 customers across North America. A liquidity crisis led them to discontinue operations and terminate substantially all of their employees on December 27, 2024. The trustee has worked to advance a sale of substantially all of the assets and the business to Recruiter.com Ventures Inc., with an outside closing date of February 28, 2025, and entered a transition services agreement with that purchaser to keep the business operating until closing. The matter remains active, with interim orders made in March 2025.

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Case updates28 dated entries · 2 undated

25 earlier updates, back to 7 January 2025 — subscribers.

Undated filings2 — no date appears on the document · show

2 filings carry no date on their face — subscribers.

Parties

Debtor

Bench Accounting, Inc. and 10Sheet Services Inc.

Trustee in bankruptcy

KSV

Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredNational Bank of Canada (NBC) · in 87 casesas of Canadian Filing Date — Term facility (US$15 million principal), revolving loan facility (up to US$20 million), hedging facility (up to CAD$5.5 million) under NBC Credit Agreement dated June 7, 2024, as amended — Excludes interest and fees; described as operating lender and largest/senior secured creditor; security opinion confirmed by Fasken Martineau DuMoulin LLP as valid and enforceable against a trustee in bankruptcy — debtor: Bench Accounting, Inc. (guaranteed by 10Sheet Services Inc.)$34.6M USDDeclaration of Robert Kofman Declaration in Support of Chapter 15 Proceedings dated March 13, 2025

3 more claims across lower-ranking classes

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Sale processAs stated in the filings

Sale approved — The sale transaction to Recruiter.com Ventures Inc. is approvedOrder Recognizing and Enforcing Approval and Vesting Order dated April… · 13 Mar 2025

Bids received

1

Bench Accounting. Inc - First Report of the Trustee…

PurchaserPriceStatusSource
Recruiter.com Ventures Inc.substantially all of the Debtors' assets · asset sale · agreement 25 Feb 2025SubscribersApproved13 Mar 2025Order dated March 13, 2025
Closing termsClosing to occur upon delivery of Trustee's Certificate confirming receipt of full Purchase Price and satisfaction of conditionsOrder Recognizing and Enforcing Approval and Vesting Order dated April…
RecoveriesAs stated in the filings

Secured creditors: no distribution. National Bank of Canada short.EstimatedMotion for Order Specifying Form and Manner of Service and Notice · 13 Mar 2025

ClassCreditorClaimsRecoveryBasisSource
Securedother secured or unsecured creditors—no distributionEstimatedper the trusteeMotion for Order Specifying Form and Manner of Service and Notice · 13 Mar 2025
SecuredNational Bank of Canada—shortfallEstimatedper the trusteeMotion for Order Specifying Form and Manner of Service and Notice · 13 Mar 2025

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

Estate financialsReported figures — never derived

The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers

Documents
29 filings
DateDocumentFile
Notice of Amended Agenda - April 10 2025 - Hearing CancelledPDF · Subscribers
Order Granting Recognition dated April 9, 2025PDF · Subscribers
Order Recognizing and Enforcing Approval and Vesting Order dated April 9, 2025
  • Closing terms Closing to occur upon delivery of Trustee's Certificate confirming receipt of full Purchase Price and satisfaction of conditions
  • Order date 13 March 2025
  • Purchaser Recruiter.com Ventures Inc. · substantially all of the Debtors' assets · asset sale · approved
  • Sale outcome Sale approved — The sale transaction to Recruiter.com Ventures Inc. is approved
  • + 1 more extracted fact
PDF · Subscribers
ORD Form and Manner of ServicePDF · Subscribers
COC - Provisional Relief OrderPDF · Subscribers
ORD Filing Of A Consolidated List
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Bench - Combined Agenda _ Notice of First Day HearingPDF · Subscribers
Chapter 15 Petition (10Sheet Services Inc.) filed March 13, 2025PDF · Subscribers
Chapter 15 Petition (Bench Accounting, Inc.) filed March 13, 2025PDF · Subscribers
Declaration of Robert Kofman Declaration in Support of Chapter 15 Proceedings dated March 13, 2025
PDF · Subscribers
Motion for Consolidated List of Foreign Proceeding dated March 13, 2025PDF · Subscribers
Motion for Joint Administration of Cases dated March 13, 2025PDF · Subscribers
Motion for Order Specifying Form and Manner of Service and Notice dated March 13, 2025
  • Recovery outcome Entries: per estimated; per estimated · Table missing:
PDF · Subscribers
Motion for Provisional Relief dated March 13, 2025PDF · Subscribers
Order dated March 13, 2025
  • Closing terms possession of the Purchased Assets shall be delivered by the Trustee to the Purchaser at 12:00 noon on the Closing Date
  • Court Supreme Court of British Columbia, In Bankruptcy and Insolvency, Vancouver Registry
  • Debtor names Bench Accounting, Inc.; 10Sheet Services Inc.
  • Order date 13 March 2025
  • + 3 more extracted facts
PDF · Subscribers
Verified Petition for Recognition of Foreign Proceedings dated March 13, 2025
  • Applicant KSV Restructuring Inc.
  • Appointee KSV Restructuring Inc.
  • Appointee role Licensed Insolvency Trustee
  • Commencement date 7 January 2025
  • + 3 more extracted facts
PDF · Subscribers
Bench - Notice of Application dated March 10, 2025
  • Applicant KSV Restructuring Inc.
  • Appointee KSV Restructuring Inc.
  • Appointee role licensed insolvency trustee
  • Commencement date 10 March 2025
  • + 5 more extracted facts
PDF · Subscribers
10Sheet-Consolidation Orders dated March 7, 2025
  • Court Supreme Court of British Columbia
  • Debtor names 10Sheet Services Inc.; Bench Accounting, Inc.
  • Order date 7 March 2025
  • Statutory basis Bankruptcy and Insolvency Act
PDF · Subscribers
Bench-Consolidation Order dated March 7, 2025
  • Court Supreme Court of British Columbia
  • Debtor names Bench Accounting, Inc.; 10Sheet Services Inc.
  • Order date 7 March 2025
  • Statutory basis Bankruptcy and Insolvency Act
PDF · Subscribers
Bench Accounting. Inc - First Report of the Trustee Dated March 5, 2025
  • Operational summary Prior to the Filing Date, the Companies operated a combined business that provided accounting, bookkeeping, tax and other financial services to over 10,000 customers across North America.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 8 more extracted facts
PDF · Subscribers
10Sheet - Amended Certificate of Filing dated January 16, 2025PDF · Subscribers
10Sheet Services Inc. - Revised Notice of Bankruptcy and First Meeting of Creditors dated January 16, 2025
PDF · Subscribers
Bench Accounting - Amended Certificate of Filing dated January 16, 2025PDF · Subscribers
Bench Accounting, Inc. - Revised Notice of Bankruptcy and First Meeting of Creditors dated January 16, 2025PDF · Subscribers
10Sheet Services Inc. - Letter to Employees dated January 9 2025PDF · Subscribers
Bench Accounting, Inc. - Letter to Employees dated January 9, 2025PDF · Subscribers
Trustee's Preliminary Report dated January 24, 2024
  • Operational summary As a result of a liquidity crisis, the Companies discontinued operations and terminated substantially all of their employees on December 27, 2024. The Trustee is working to advance a sale of substantially all assets and the Business to Recruiter.com Ventures Inc. (RVI), with an outside closing date of February 28, 2025, and has entered a transition services agreement with RVI to facilitate continued operation of the Business until closing.
  • Cash on hand · Professional fees · Receipts cumulative Subscribers
  • + 1 more extracted fact
PDF · Subscribers
ORD Joint AdminPDF · Subscribers
ORD Provisional ReliefPDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Bench Accounting, Inc. and 10Sheet Services Inc.” (Bankruptcy), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/bench-accounting-inc-and-10sheet-services-inc

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Sources last checked · summary updated 5 August 2026 · Report a correction · Printed from proceedings.ca/case/bench-accounting-inc-and-10sheet-services-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.