Dietron Tool & Die Inc.

Dietron Tool & Die Inc. filed a notice of intention on March 18, 2022 under section 50.4(1) of the Bankruptcy and Insolvency Act, with Rosen Goldberg Inc. as licensed insolvency trustee under file number 31-2813907. Royal Bank of Canada holds a first charge on the company's assets and is listed at $2,200,000.00 on the creditor list as of March 17, 2022; the related corporations 1423636 Ontario Inc. and 5014152 Ontario Inc. hold general security agreements for $1,164,272.93 and $94,759.66. A sworn statement of affairs as at May 9, 2022 put secured liabilities at $3,319,061, preferred at nil and unsecured at $1,687,929, against machinery, equipment and tools with an estimated realizable value of $1,800,000 and $125,000 of cash in the bank. The Ontario proceeding is active.