iCobalt Rusty Lake Cobalt Inc
Follow- Proceeding
- BankruptcySubsection 102(1) of the Act
- File
- 31-459315
iCobalt Rusty Lake Cobalt Inc. remains in active insolvency proceedings in Ontario. A Statement of Affairs (Form 78) for the company on an unconsolidated basis, stated and estimated as at January 26, 2022, put total assets at CAD $1,343.64 against total liabilities of CAD $1,334,804.76, producing a reported deficiency of $1,333,461.12. Secured claims per list 'B' were stated at $0.00, leaving the estate's obligations entirely unsecured. The list of creditors prepared by the trustee, as of the same date, is dominated by MetalsTech Limited at $1,202,651.35, followed by Cabo Drilling (Ontario) Corp at $117,581.97, ALS Canada Ltd at $11,544.68 and DG Resource Management Ltd at $3,026.76.
The officer filed a report. Court file 31-459315.
Source: Trustee’s Report to the Creditors on its Preliminary Administration
Debtor
iCobalt Rusty Lake Cobalt Inc
Trustee in bankruptcy
PwC
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | MetalsTech Limited · in 6 casesdebtor: iCobalt Rusty Lake Cobalt Inc. · as of 26 Jan 2022 | $1.2M | Notice of Bankruptcy and First Meeting of Creditors |
| Unsecured | Cabo Drilling (Ontario) Corp · in 2 casesdebtor: iCobalt Rusty Lake Cobalt Inc. · as of 26 Jan 2022 | $118K | Notice of Bankruptcy and First Meeting of Creditors |
| Unsecured | ALS Canada Ltd · in 3 casesdebtor: iCobalt Rusty Lake Cobalt Inc. · as of 26 Jan 2022 | $11.5K | Notice of Bankruptcy and First Meeting of Creditors |
| Unsecured | DG Resource Management Ltddebtor: iCobalt Rusty Lake Cobalt Inc. · as of 26 Jan 2022 | $3.03K | Notice of Bankruptcy and First Meeting of Creditors |
As at 26 Jan 2022 · per Statement of Affairs (Form 78), as stated and estimated by the officer · iCobalt Rusty Lake Cobalt Inc. (single entity, unconsolidated) — Secured creditors as per list 'B' stated as $0.00 / balance of secured claims $0.00; deficiency of $1,333,461.12 reported.
| Date | Document | File |
|---|---|---|
Trustee’s Report to the Creditors on its Preliminary Administration
| ||
Notice of Bankruptcy and First Meeting of Creditors
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “iCobalt Rusty Lake Cobalt Inc” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/icobalt-rusty-lake-cobalt-inc