Evans Cold Storage Solutions Inc.

Evans Cold Storage Solutions Inc. made an assignment for the general benefit of creditors on February 21, 2025 and the Ontario bankruptcy remains active. The Statement of Affairs, prepared from the Company's own books and records and not audited by the Trustee, shows assets of $394,976.88 against liabilities of $607,212.08, comprising $30,417.00 secured and $576,795.08 unsecured, with no preferred or contingent claims. Proofs of claim filed with the Trustee run higher, at $1,529,977.18 in total, including $1,452,983.81 unsecured and $76,993.37 in the secured class. Business Development Bank of Canada's PPSA registration was discharged on February 17, 2025. Farm Credit Canada holds a general security agreement over the Property; Blake, Cassels & Graydon LLP has been retained to opine on its validity, and Farm Credit Canada is expected to be paid in full if the security is confirmed. The Trustee's appraisal of equipment leased through Toyota Industries Commercial Finance Canada, Inc. found no equity in the leases, and a party related to the Company has asked that they be assigned.