Harry Chung Enterprises Inc. dba Aroma Espresso Bar

Harry Chung Enterprises Inc., operating as Aroma Espresso Bar, is subject to insolvency proceedings of unspecified type. A Statement of Affairs as at April 4, 2019 disclosed total assets of $200,000.00, consisting entirely of restaurant equipment, against total liabilities of $311,001.76, producing a stated deficiency of $111,001.76. Royal Bank of Canada holds a secured claim of $229,000.00 against that equipment, valued by the officer at $200,000.00, leaving $29,000.00 reclassified as unsecured; Aroma Expresso Bar Canada, Inc. holds a secured claim of $51,600.94 against the same equipment valued at $0.00, moving the full amount to the unsecured pool. Unsecured creditors, including the reclassified secured shortfalls, total $111,001.76 across some two dozen listed creditors.