Elco Fine Foods Ltd. (Receivership)

Elco Fine Foods Ltd. has been in receivership in British Columbia since October 1, 2020, with MNP Ltd. acting as Receiver under subsection 245(1) of the Bankruptcy and Insolvency Act. The proceeding remains active. Elco's Statement of Affairs put the estimated realizable value of the company's assets at $554,145, all of which are subject to registered security interests, against an unsecured creditor subtotal of $8,835,862.42. Registered PPSA charges are held by Grantham Holdings, at $4,337,905, and DCD Design & Manufacturing Ltd., at $2,955,519; the Canada Revenue Agency asserts a statutory secured claim. Both PPSA holders also appear in the creditors list as unsecured, Grantham at $3,808,760 and DCD at $2,955,519. The unsecured list runs to dozens of trade suppliers, largely European and Asian food producers, freight forwarders and Canadian distributors.