Houston Electric And Controls Ltd.

Houston Electric and Controls Ltd. has been bankrupt since May 15, 2024, with MNP Ltd. acting as Licensed Insolvency Trustee in proceedings under the Bankruptcy and Insolvency Act in the Supreme Court of British Columbia. The Statement of Affairs reports total secured claims of $98,550 and total unsecured creditors of $516,768.78, with no proofs of claim filed as of the trustee's report. Among the secured positions, Ford Credit Canada Leasing is owed approximately $8,500, supported by a PPSA registered security interest over a Ford T250 vehicle disclosed on a BC Personal Property Registry search dated January 3, 2024. The Canada Revenue Agency asserts a deemed trust claim of $204,154 for unremitted payroll source deductions, ranking in priority to other creditors, taken from the company's internal tax liability report and still being confirmed with CRA. Employee wage claims are estimated at $2,000, secured over current assets under s.81.3(1) of the BIA as at the date of bankruptcy. The estate remains active.