Flare Skate Blade Ltd.
Follow- Proceeding
- BankruptcySubsection 102(1) of the Act
- File
- 25-3389187
Flare Skate Blade Ltd., a corporate bankrupt, filed a Statement of Affairs as at June 22, 2026 showing total assets of $10,000.00 against total liabilities of $2,118,537.28, leaving a reported deficiency of $2,108,537.28. Secured creditors, preferred creditors and contingent claims were each listed at $0.00. The unsecured pool includes trade payables to counsel and suppliers, a $60,000 CEBA-related claim from CIBC c/o FCT Default Solutions, a $23,041.22 CRA tax claim recorded outside the priority category, and a series of shareholder loans, the largest being four separate claims from shareholder/director James Stuart totalling well over a million dollars.
Debtor
Flare Skate Blade Ltd.
Trustee in bankruptcy
Hudson & Company Insolvency Trustees
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 7 | Preferred (BIA s. 136) | CRA - Tax - Prairies · in 86 casesCorporate taxes; listed entirely in unsecured column (Preferred/Priorities = 0.00); deemed-trust status not expressly stated — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $23K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | James StuartShareholder loan; related party (shareholder/director) — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $1.34M | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | James StuartShareholder loan; related party (shareholder/director) — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $151K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | NorstarAccounts payable; address (147 Stonepine Drive SW, Calgary) matches shareholder James Stuart's address - possible related party — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $132K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Stephen GreenShareholder loan; related party (shareholder) — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $126K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Larry SmithShareholder loan; related party (shareholder) — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $75K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | CIBC c/o FCT Default SolutionsAccounts payable - CEBA loan — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $60K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Red RoosterAccounts payable — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $48.8K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Borden Ladner Gervais LLP - Calgary · in 3 casesAccounts payable — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $33.5K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | James StuartShareholder loan; related party (shareholder/director) — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $30K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Robic S.E.N.C.R.L. · in 2 casesAccounts payable — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $29.9K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Royal AddersonShareholder loan; related party (shareholder) — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $25K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Jamie WilsonShareholder loan; related party (shareholder) — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $15K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Norton Rose Canada LLP - Montréal · in 2 casesAccounts payable — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $14.8K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | CIBC Visa c/o FCT Default Solutions · in 2 casesAccounts payable — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $5.75K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | SputtekAccounts payable — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $4.78K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | James StuartShareholder loan; related party (shareholder/director) — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $4.72K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Proact Chartered AccountantsAccounts payable — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $3.99K | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Stephen GreenShareholder loan; related party (shareholder); document also shows an 'estimated surplus/(deficit) from security' of -1.00 in this line, though the claim is listed as unsecured — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | $1 | Creditor Package - Flare Skate Blade Ltd. |
| 8 | Unsecured | Dixon Commercial Investigators (1982) Inc. · in 4 casesNature: Other/Collections; marked as contingent/trust claim (X) with stated amount of $0.00 - amount not meaningfully quantified — debtor: Flare Skate Blade Ltd. · as of 22 Jun 2026 | — | Creditor Package - Flare Skate Blade Ltd. |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
As at 22 Jun 2026 · per Statement of Affairs (Form 78) - totals as stated and estimated by bankrupt/debtor · Flare Skate Blade Ltd. (single entity, corporate bankrupt) — Document states secured creditors as $0.00 (line 1 of Liabilities summary) and preferred creditors/priorities and contingent claims each as $0.00; deficiency of $2,108,537.28 reported.
| Date | Document | File |
|---|---|---|
Creditor Package - Flare Skate Blade Ltd.
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Flare Skate Blade Ltd.” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/flare-skate-blade-ltd