CNS Iron Fabrication Ltd. (Bankruptcy)

CNS Iron Fabrication Ltd., an Ontario company, has been in insolvency proceedings since October 6, 2022, and the matter remains active. The Statement of Affairs prepared as at that date puts total assets at $219,000 against total liabilities of $6,364,550, leaving a deficiency of $6,145,550 and no surplus. Secured claims are listed at $219,000, with preferred and contingent or trust claims nil. Royal Bank of Canada holds a secured claim of $140,000 and is also listed as unsecured for $3,991,000; the Canada Revenue Agency is listed as secured for $79,000 on a deemed trust basis and unsecured for $131,600. Salvatore Castelli Jr. and Congetta Bove appear on both lists, with $750,000 unsecured. Other larger unsecured claims include Claeys Family Holdings at $450,000, Kimko Steel Sales Ltd. at $250,718 and Crawford Metal at $158,493.