Kelson Apartments Ltd.

Kelson Apartments Ltd. has been in bankruptcy under the Bankruptcy and Insolvency Act since December 22, 2015, with Deloitte Restructuring Inc. as trustee and National Bank of Canada as applicant, under court file NB21712 in the Court of Queen's Bench of New Brunswick. The Statement of Affairs sworn by John Franklin Kelson puts total assets at $633,500.00 against total liabilities of $876,319.59, a reported deficiency of $242,819.59, with unsecured creditors totalling $255,380.45 and no preferred or contingent liabilities. National Bank holds mortgage security over four properties at Utopia and Upper Letang; as of December 30, 2015 three of those claims left unsecured balances of $107,346.92, $95,029.67 and $53,001.86, each carried through to the unsecured list. The New Brunswick Department of Finance, the Canada Revenue Agency and NB Power are also listed as creditors. The proceeding remains active.