Kasteel Construction and Coatings Inc.

Kasteel Construction and Coatings Inc., a Northwest Territories contractor, is in bankruptcy with MNP Ltd. as Licensed Insolvency Trustee under court file 24-2998341. The estate commenced on October 2, 2023, and notice of bankruptcy and of the first meeting of creditors was given under subsection 102(1) of the Act, dated October 17, 2023. The creditor mailing list as of that date shows Royal Bank of Canada in two separate unsecured line entries of $513,558.90 and $122,541.10, and the Receiver General for source deductions at $404,240.85, described as a deemed trust class. Other substantial unsecured claims include Aurora Decorating Center at $148,508.65, Paul Bros. Nextreme Inc. at $143,599.99 and Huntsman Building Solutions Inc. at $141,551.55. Kasteel Holdings Inc. is listed at $40,000.00 and director Trevor Kasteel appears as a related party. Business Development Bank of Canada and The Bank of Nova Scotia are listed as secured, each at a nominal $1.00. The proceeding remains active.