Home Solutions Corporation

Home Solutions Corporation has been under court-appointed receivership in Alberta since June 28, 2022, when Grant Thornton Limited was appointed receiver on the application of Private Debt Partners Senior Opportunities Fund GP Inc., carrying on business as Private Debt Partners, under section 65(7) of the Alberta Personal Property Security Act, section 243(1) of the Bankruptcy and Insolvency Act and section 13(2) of the Judicature Act. Private Debt Partners demanded approximately $9.2 million under a general security agreement over all present and after-acquired assets by letter dated May 5, 2022, and Toronto-Dominion Bank approximately $2.2 million by letter dated May 6, 2022, holding senior security over inventory and accounts receivable; counsel confirmed both securities effective, valid and enforceable. Unsecured claims as reported by the company total approximately $1.8 million, and roughly 89 former employees have severance claims. The receivership remains active.