Island Craft Processing Inc. has been bankrupt since December 22, 2023, with Grant Thornton Limited acting as trustee in bankruptcy under the BIA in the District of British Columbia, court file 11-3025514. The Statement of Affairs prepared as at the date of bankruptcy records no assets against liabilities of $797,057.97, leaving a deficiency in that amount. All of the claims fall in the unsecured class, with Lists B, C and D returned nil: no secured or preferred creditors and no contingent or other liabilities. Green Acre Captial Ltd. is the largest unsecured claim at $384,500.00, followed by CCI- Now Deloitte at $84,084.00, Great Gardener Farms Ltd at $70,000.00 and Eagle Point Properties at $67,500.00. Related-party claims of Allen Spillette total three separate entries, and CRA excise tax of $45,000.00 and Health Canada fees of $23,000.00 are listed as unsecured. The proceeding remains active.
The officer filed a report. The Company had already ceased operations prior to filing, having sold its remaining equipment just before bankruptcy; the Trustee has not taken possession of any assets and is investigating whether the pre-bankruptcy sale represented fair value. Court file 11-3025514.
Source: Trustee's Preliminary Report dated January 17, 2024.pdf
Bankruptcy took effect at 15:43; the trustee's Form 78 Statement of Affairs reported nil assets, liabilities of $797,057.97, and no secured or preferred creditors.
Recorded as approval of a claims process, dated to commencement: the filing opening the proceeding was made, or deemed made, on December 22, 2023.
Debtor
Island Craft Processing Inc.
Trustee in bankruptcy
Doane Grant Thornton
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Green Acre Captial Ltd.debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $385K | Creditors Package dated December 22, 2023 |
| Unsecured | CCI- Now Deloittedebtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $84.1K | Creditors Package dated December 22, 2023 |
| Unsecured | Great Gardener Farms Ltddebtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $70K | Creditors Package dated December 22, 2023 |
| Unsecured | Eagle Point Propertiesc/o Grant Thornton Limited (trustee address used for correspondence) — debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $67.5K | Creditors Package dated December 22, 2023 |
| Unsecured | Allen Spillette- American ExpressRelated party - individual creditor Allen Spillette — debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $63.8K | Creditors Package dated December 22, 2023 |
| Unsecured | CRA Excises Tax 468Listed as unsecured excise tax claim, not designated preferred or deemed trust in this document — debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $45K | Creditors Package dated December 22, 2023 |
| Unsecured | Health Canada Annual Due UnitRegulatory fee claim — debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $23K | Creditors Package dated December 22, 2023 |
| Unsecured | Allen Spillette Consulting InvoicesRelated party - individual creditor Allen Spillette — debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $21K | Creditors Package dated December 22, 2023 |
| Unsecured | Island House and Gardendebtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $12.5K | Creditors Package dated December 22, 2023 |
| Unsecured | Ample Organics Inc. · in 9 casesAddress in Denver CO USA — debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $10.1K | Creditors Package dated December 22, 2023 |
| Unsecured | Maximum Express Courier & Freight Ltddebtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $8.27K | Creditors Package dated December 22, 2023 |
| Unsecured | Purolator · in 38 casesdebtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $4.08K | Creditors Package dated December 22, 2023 |
| Unsecured | Allen Spillette- Master CardRelated party - individual creditor Allen Spillette — debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $1.9K | Creditors Package dated December 22, 2023 |
| Unsecured | Kestrel Appliance Installation Ltd.debtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $551 | Creditors Package dated December 22, 2023 |
| Unsecured | GFL Environmental Inc. · in 52 casesdebtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $417 | Creditors Package dated December 22, 2023 |
| Unsecured | Detonate Labels Inc. · in 3 casesdebtor: Island Craft Processing Inc. · as of 22 Dec 2023 | $347 | Creditors Package dated December 22, 2023 |
As at 22 Dec 2023 · per Statement of Affairs (Form 78) as stated and estimated by the officer · Entity - Island Craft Processing Inc. — No secured creditors, preferred creditors, or contingent/other liabilities listed (Lists B, C, D all nil). Total assets stated as NIL/0.00; deficiency of 797,057.97.
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report dated January 17, 2024.pdf
| ||
Certificate of Appointment dated December 22, 2023
| ||
Creditors Package dated December 22, 2023
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Island Craft Processing Inc.” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/island-craft-processing-inc
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/island-craft-processing-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.