Brican Automated Systems Inc.

Brican Automated Systems Inc. has been in insolvency proceedings in Ontario since July 16, 2018, and the matter remains active. The statement of affairs, as stated and estimated by the trustee as at July 10, 2018, puts assets at $82,399.00 against liabilities of $2,410,458.23, for a stated deficiency of $2,328,059.23. Unsecured creditors total $2,328,059.23, made up of $1,680,454.23 on List A plus $647,605.00 representing the balance of secured claims from List B; preferred creditors and contingent or trust claims are nil. The largest claims are those of Peter Anthony Lobraico, secured at $500,000.00 against book debts, inventory, machinery and equipment and shares registered April 16, 1991, and Cleeve Holdings Inc., whose $230,000.00 claim leaves a $147,601.00 balance after the estimated security value. Peter Lobraico is also listed unsecured at $539,000.00.