Bench Accounting, Inc. and 10Sheet Services Inc.
- Proceeding
- BankruptcyBankruptcy and Insolvency Act
- File
- B-250050
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.
The court granted an approval and vesting order for the sale to Recruiter.com Ventures Inc. Closing terms, as extracted: Closing to occur upon delivery of Trustee's Certificate confirming receipt of full Purchase Price and satisfaction of conditions.
Source: Order Recognizing and Enforcing Approval and Vesting Order dated April 9, 2025
The court granted a further interim order on March 13, 2025, the most recent step recorded in the bankruptcies of the two companies.
Source: Order dated March 13, 2025
Chapter 15 Petition (10Sheet Services Inc.) filed March 13, 2025 — Application / notice of application
Chapter 15 Petition (Bench Accounting, Inc.) filed March 13, 2025 — Application / notice of application
Motion for Consolidated List of Foreign Proceeding dated March 13, 2025 — Application / notice of application
Motion for Joint Administration of Cases dated March 13, 2025 — Application / notice of application
Motion for Order Specifying Form and Manner of Service and Notice dated March 13, 2025 — Application / notice of application
Verified Petition for Recognition of Foreign Proceedings dated March 13, 2025 — Application / notice of application
The court made an interim order in the bankruptcies, the first of two orders granted on this date, two days after the trustee's March 5 report.
Second interim order granted by the Supreme Court of British Columbia at Vancouver on the same day, March 7, 2025, in these bankruptcy proceedings.
Further report from the trustee to the Supreme Court of British Columbia, dated March 5, 2025, in the Vancouver bankruptcy and insolvency registry.
Source: Bench Accounting. Inc - First Report of the Trustee Dated March 5, 2025
Trustee reported to the court on the administration of the two bankruptcies, signing at Toronto; the record identifies a First Report in this proceeding.
Bench Accounting - Amended Certificate of Filing dated January 16, 2025 — NOI certificate of filing
Bench Accounting, Inc. - Letter to Employees dated January 9, 2025 — Stakeholder communication
Debtor
Bench Accounting, Inc. and 10Sheet Services Inc.
Trustee in bankruptcy
KSV
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | National Bank of Canada (NBC) · in 101 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 USD | Declaration of Robert Kofman Declaration in Support of Chapter 15 Proceedings dated March 13, 2025 |
| 4 | Secured | |||
| 4 | Secured | |||
| 5 | PMSI / lessors |
3 more claims in 2 classes The stack holds Secured and PMSI / lessors claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansSale approved — The sale transaction to Recruiter.com Ventures Inc. is approvedOrder Recognizing and Enforcing Approval and Vesting Order dated April… · 13 Mar 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Recruiter.com Ventures Inc.substantially all of the Debtors' assets · asset sale · agreement 25 Feb 2025 | Subscribers | Approved13 Mar 2025outside 15 Apr 2025 | Order dated March 13, 2025 |
Secured creditors: no distribution. National Bank of Canada short.EstimatedMotion for Order Specifying Form and Manner of Service and Notice · 13 Mar 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | other secured or unsecured creditors | — | no distribution | Estimatedper the trustee | Motion for Order Specifying Form and Manner of Service and Notice · 13 Mar 2025 |
| Secured | National Bank of Canada | — | shortfall | Estimatedper the trustee | Motion 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.
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
| Notice of Amended Agenda - April 10 2025 - Hearing Cancelled | PDF · Subscribers | |
| Order Granting Recognition dated April 9, 2025 | PDF · Subscribers | |
Order Recognizing and Enforcing Approval and Vesting Order dated April 9, 2025
| PDF · Subscribers | |
| ORD Form and Manner of Service | PDF · Subscribers | |
| ORD Provisional Relief | PDF · Subscribers | |
| COC - Provisional Relief Order | PDF · Subscribers | |
ORD Filing Of A Consolidated List
| PDF · Subscribers | |
| ORD Joint Admin | PDF · Subscribers | |
| Bench - Combined Agenda _ Notice of First Day Hearing | PDF · Subscribers | |
| Chapter 15 Petition (10Sheet Services Inc.) filed March 13, 2025 | PDF · Subscribers | |
| Chapter 15 Petition (Bench Accounting, Inc.) filed March 13, 2025 | PDF · 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, 2025 | PDF · Subscribers | |
| Motion for Joint Administration of Cases dated March 13, 2025 | PDF · Subscribers | |
Motion for Order Specifying Form and Manner of Service and Notice dated March 13, 2025
| PDF · Subscribers | |
| Motion for Provisional Relief dated March 13, 2025 | PDF · Subscribers | |
Order dated March 13, 2025
| PDF · Subscribers | |
Verified Petition for Recognition of Foreign Proceedings dated March 13, 2025
| PDF · Subscribers | |
Bench - Notice of Application dated March 10, 2025
| PDF · Subscribers | |
10Sheet-Consolidation Orders dated March 7, 2025
| PDF · Subscribers | |
Bench-Consolidation Order dated March 7, 2025
| PDF · Subscribers | |
Bench Accounting. Inc - First Report of the Trustee Dated March 5, 2025
| PDF · Subscribers | |
| 10Sheet - Amended Certificate of Filing dated January 16, 2025 | PDF · 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, 2025 | PDF · Subscribers | |
| Bench Accounting, Inc. - Revised Notice of Bankruptcy and First Meeting of Creditors dated January 16, 2025 | PDF · Subscribers | |
| 10Sheet Services Inc. - Letter to Employees dated January 9 2025 | PDF · Subscribers | |
| Bench Accounting, Inc. - Letter to Employees dated January 9, 2025 | PDF · Subscribers | |
Trustee's Preliminary Report dated January 24, 2024
| PDF · 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 5 November 2026, https://proceedings.ca/case/bench-accounting-inc-and-10sheet-services-inc