Darwin Foods Inc.

Darwin Foods Inc., operating as The Hungry Dragon, has been in a Division I proposal proceeding under the Bankruptcy and Insolvency Act in Ontario since 9 March 2023, under court file 32-2920076, with BDO Canada Limited as trustee. The Statement of Affairs, as stated and estimated by the trustee as at 5 April 2023, shows total assets of $276,441.38 against total liabilities of $734,649.28 and a stated deficiency of $458,207.90. Secured claims per List B total $276,441.38, led by BMO Financial Group's $260,000.00 claim, secured on bank cash, inventory and leasehold improvements valued at $1,156.62 and leaving a $258,843.38 shortfall carried into the unsecured list. Equipment lessors, including Accord Small Business Finance Corp., Bodkin Leasing Corporation, CWB National Leasing Inc., CLE Capital Inc. and CLE Leasing, are shown as fully secured. List A unsecured claims of $192,375.28 include CRA at $60,212.23, Accu Holdings Inc. at $89,002.05 and the Business Development Bank of Canada at $43,160.00, with a further $6,989.24 CRA preferred claim under List C. The matter is active.