Forage M3 Drilling Services Inc.

Forage M3 Drilling Services Inc./Les Services De forage M3 Inc. has been in bankruptcy under the BIA since December 9, 2022, on the application of Royal Bank of Canada, in the Ontario Superior Court of Justice in Bankruptcy and Insolvency under court file 33-165785. The proceeding remains active. The Statement of Affairs, as stated and estimated by the officer as at December 15, 2022, puts total assets at $800,004.00 against total liabilities of $4,184,681.71, a stated deficiency of $3,384,677.71, with secured creditors at $500,004.00, unsecured creditors including the balance of secured claims at $3,684,676.71, and no preferred claims. The largest unsecured entry is L. Corbeil Financial at $790,149.00, listed at an address matching officer and director Luc Corbeil, followed by CRA claims of $442,735.00 and $228,094.00 and DUCO at $364,844.31. Royal Bank's $400,000.00 claim is shown as fully secured by equipment.