Comnet Networks and Security Inc.

Comnet Networks and Security Inc., an Ontario company, commenced insolvency proceedings on January 21, 2025 under section 49 of the Bankruptcy and Insolvency Act and Rule 85, with MNP LTD / MNP LTÉE acting as Licensed Insolvency Trustee under estate file 33-3176430. Its Statement of Affairs, as stated and estimated by the debtor as at January 20, 2025, shows total assets of $4,431,402.00 against total liabilities of $10,554,404.00, a reported deficiency of $6,123,002.00, with $4,431,402.00 of liabilities classed as secured and $6,123,002.00 as unsecured. The principal secured claim is that of the Canadian Corps of Commissionaires (Ottawa Division), $4,038,747.00 of a $4,100,000.00 claim, under a general security agreement dated October 22, 2020. Large unsecured claims include Employment and Social Development Canada at $750,000.00, CRA employee source deductions at $463,000.00, Guillevin International Co at $423,774.00 and Anixter Canada Inc. at $315,390.00. The proceeding is active.