Heaven Fresh Canada Inc

Heaven Fresh Canada Inc., a Mississauga, Ontario distributor of air purifiers and consumer products, became bankrupt on October 26, 2017 under paragraph 50.4(8)(b.1) of the Bankruptcy and Insolvency Act, with MNP Ltd. as licensed insolvency trustee under estate no. 32-2274873. The Form 78 statement of affairs, sworn November 3, 2017 by vice-president Mohammad Kamal Anwar, put assets at $89,334.13 against liabilities of $1,228,743.63, a deficiency of $1,139,409.50. Inventory carried at an original cost of $195,730.16 was valued at $65,000.00. Secured claims of $187,013.95 were asserted against security valued at $89,334.13 by RBC on a $100,000.00 line of credit, Thinking Capital for $82,013.95 against security valued at nil, and Danby for $5,000.00. The largest unsecured claims were Greatest Dragon of Hong Kong at $245,542.57, BDC at $223,434.00 and Indoor Purification Systems at $189,869.89. The estate remains active.