Genesis Technical Systems Corp.
- Proceeding
- BankruptcySection 49(1) of the Bankruptcy and Insolvency Act ("BIA")
- File
- BKY 25-2955007
Genesis Technical Systems Corp., an Alberta company, has been in insolvency proceedings since 14 June 2023 (court files B201 955007 and BKY 25-2955007; Estate No. 25-2955007). The Trustee's preliminary report records no secured creditors after a Personal Property Registry review and no priority claims known to the Trustee. The only asset identified is inventory described as various patents, carried at $1.00 on the Statement of Affairs and which the Trustee does not intend to realise for want of funds; no equipment, real estate or other assets are listed, and no asset or liability totals are stated. A third-party deposit of $14,959.00 secures administration costs. The claims register runs to 599 unsecured entries, 539 at a nominal $1.00, with five claims filed and admitted. The report describes the company as a conduit for the investment process for Genesis Technical Systems UK Ltd, which was separately assigned a liquidator.
Debtor
Genesis Technical Systems Corp.
Trustee in bankruptcy
Hudson & Company Insolvency Trustees
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Intercompany creditor - owed to Genesis Technicaldebtor: Genesis Technical Systems Corp. · as of 14 Jun 2023 | $1.17M | Trustee's Preliminary Report on Administration |
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured |
590 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: no distribution.EstimatedTrustee's Preliminary Report on Administration · 23 Jun 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee's Preliminary Report on Administration · 23 Jun 2023 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report on Administration
| PDF · Subscribers | |
Creditor Package - Genesis Technical Systems Corp
| PDF · Subscribers | |
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CiteProceedings., “Genesis Technical Systems Corp.” (Bankruptcy). Retrieved 4 November 2026, https://proceedings.ca/case/genesis-technical-systems-corp