Custom Cannabis Inc.
- Proceeding
- BankruptcyBIA
- File
- BK01-095378
- Industry
- Cannabis · Cannabis producers
Custom Cannabis Inc. has been in bankruptcy under the BIA since August 31, 2023, when an order was pronounced in the Court of King's Bench of Alberta on the application of Connect First Credit Union Ltd. Ernst & Young Inc. is the Licensed Insolvency Trustee. The trustee's report on preliminary administration put Connect First's secured claim at $12.1 million as at the date of bankruptcy and Pinene Capital Management's at $0.6 million, both flagged as potentially understated because they exclude default interest and other expenses, and both subject to pending security opinions. Also recorded were a Canada Revenue Agency deemed trust claim of $361,000 for unremitted source deductions and property tax arrears of at least $200,000 owing to the Town of Claresholm, either of which may rank ahead of the secured claims. At the September 20, 2023 meeting of creditors, Connect First filed a proof of claim of $12,718,160.25 and The Professional Gardener Co. Ltd. one of $176.10. The proceeding remains active.
A claims procedure has been established — see the order for deadlines.
Order pronounced August 31, 2023 on Connect First Credit Union Ltd.'s application, commencing the bankruptcy of Custom Cannabis Inc. in Court file BK01-095378.
Source: Bankruptcy Order
Debtor
Custom Cannabis Inc.
Trustee in bankruptcy
EY
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Receiver General - Employee RemittanceReal Property or Immovable - Building and Land, Claresholm - Box 69; security given 01-Aug-2023; estimated value of security $361,480.49 — List B secured creditor; CRA employee source-deduction remittances (deemed trust class); fully secured, no shortfall (balance of claim $0.00) — debtor: Custom Cannabis Inc. · as of 31 Aug 2023 | $361K | Notice of Bankruptcy and First Meeting of Creditors |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
65 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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The 2 totals the debtor stated at filing
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See all plans| Date | Document | File |
|---|---|---|
Minutes of the First Meeting of Creditors
| PDF · Subscribers | |
Preliminary Report of the Trustee
| PDF · Subscribers | |
Notice of Bankruptcy and First Meeting of Creditors
| PDF · Subscribers | |
Proof of Claim and Instructions
| PDF · Subscribers | |
Proxy Form
| PDF · Subscribers | |
Bankruptcy Order
| 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., “Custom Cannabis Inc.” (Bankruptcy), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/custom-cannabis-inc