Dundee Energy Limited

Dundee Energy Limited filed an assignment in bankruptcy under section 49 of the Bankruptcy and Insolvency Act on March 28, 2019 in Ontario, with MNP Ltd. acting as Licensed Insolvency Trustee under estate number 31-2491579. The proceeding remains active. The Statement of Affairs (Business Bankruptcy), sworn by Bruce Sherley as at March 26, 2019, records total assets of $27,036.61 against total liabilities of $7,589,418.57 and states a deficiency of $7,562,381.96. All of the liabilities are unsecured: the document shows no secured creditors, no preferred creditors and no contingent or other liabilities. The largest claims are owed to related parties, including Dundee Corporation at $5,406,263.45 and Dundee Energy Limited Partnership at $1,456,445.68, followed by Castor UGS Limited Partnership at $262,513.44 and a number of individual creditors.