Commit Solutions Inc.

Commit Solutions Inc. made an assignment in bankruptcy on July 4, 2024 under section 49 of the Bankruptcy and Insolvency Act, with Grant Thornton Limited appointed trustee under file no. 11-3100592 in British Columbia. The sworn Statement of Affairs puts assets at $260,812 in book value, with accounts receivable of $106,160.22 estimated to produce nothing. Royal Bank of Canada is owed approximately $801,820, secured by two general security agreements over all present and after-acquired property registered September 10, 2020 and January 27, 2022; counsel confirmed that security is valid and perfected, and RBC has guaranteed the trustee's fees and disbursements in writing. Unsecured claims are reported at $197,675, with one proof of claim for $14,247.86 received. Service Canada asserts statutory super-priority under s. 81.3 for unpaid wages of up to three employees, unquantified. The proceeding is active.